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  • Demystifying Managed Futures: The Power of Trend Following ETFs

    Demystifying Managed Futures: The Power of Trend Following ETFs
    2025/03/28
    Agenda
    ✅ Introduction to Managed Futures and Trend Following
    ✅ The Creation and Philosophy Behind Managed Futures ETF
    ✅ Replication Strategy and Its Advantages
    ✅ Managed Futures in Portfolio Construction
    ✅ Future Outlook: Geopolitical Uncertainty and Market Volatility

    In this enlightening episode of the ETFAtlas.com podcast, host Jack Lempart sits down with Andrew Beer to explore the world of managed futures and their growing importance in modern portfolio construction.

    Andrew Beer, with his extensive background in hedge fund management, shares his journey from traditional hedge funds to creating accessible, ETF-based strategies for a broader audience. He explains the concept of managed futures, emphasizing their role as a standalone allocation that can provide crucial diversification benefits, especially during periods when traditional assets like stocks and bonds underperform.

    The conversation delves into the creation of managed futures ETFs, highlighting their unique approach to replicating hedge fund strategies through a systematic, non-discretionary method. Beer elaborates on the advantages of this replication strategy, including lower costs and improved accessibility for retail investors. He draws parallels between the ETF revolution sparked by John Bogle and the potential for managed futures ETFs to democratize sophisticated hedge fund strategies.

    A significant portion of the discussion focuses on the challenges faced by traditional 60/40 portfolios and how managed futures can address these issues. Beer argues that the investment landscape is changing dramatically, with many long-held assumptions being challenged. He posits that managed futures strategies, particularly trend following, are well-positioned to capitalize on these shifts and provide valuable diversification.

    The podcast also touches on the expansion of managed futures ETFs into European markets, highlighting the complexities of global distribution and the efforts to make the strategy more accessible to international investors. Beer shares insights into the structural differences between U.S. and European markets and how these impact ETF adoption.

    Towards the end, the conversation turns to the current geopolitical climate and its potential impact on managed futures strategies. Beer offers a nuanced perspective, explaining how both information changes and sentiment shifts can affect market trends and strategy performance.

    Throughout the episode, Beer emphasizes the importance of fee reduction as a form of alpha and the need for investment strategies to adapt to changing market conditions. He presents managed futures as a valuable tool for navigating uncertain times, potentially offering protection and opportunities when traditional assets struggle.

    This episode provides listeners with a comprehensive understanding of managed futures, their implementation through ETFs, and their potential role in modern portfolio management. It's an essential listen for investors, advisors, and anyone interested in exploring innovative approaches to diversification and risk management in today's complex financial landscape.


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    53 分
  • Beyond Passive: Harnessing Value, Momentum, and Tail Risk

    Beyond Passive: Harnessing Value, Momentum, and Tail Risk
    2025/02/27
    Wes Gray discusses how military discipline shaped his systematic investing approach, emphasizing process-driven strategies to combat emotional decision-making. Alpha Architect prioritizes investor education and transparent, evergreen factor-based ETFs like QVAL (value) and QMOM (momentum), which target well-researched market anomalies. The firm’s niche ETFs, such as CAOS (tail risk hedging) and HIDE (managed futures), aim to diversify portfolios against fast/slow market crashes. Gray advocates simplicity in factor design to avoid overfitting, while acknowledging challenges in predicting cyclical shifts between strategies. He critiques passive investing’s inherent biases toward mega-cap growth stocks, favoring factor diversification instead. His personal portfolio combines global equities, managed futures, and tail-risk insurance to offset business-related beta exposure. Gray views market efficiency as a blend of mispricing and risk compensation, stressing cost/tax efficiency in execution. Alpha Architect’s BOXX ETF innovates cash management by leveraging derivatives for incremental yield. Finally, he urges investors to adopt disciplined processes, leveraging tools like ETF databases for due diligence.

    Key topics covered in this episode:
    ✅ Introduction to Wes Gray and Alpha Architect, including his military background and its influence on investing approach
    ✅ Alpha Architect's investment philosophy, focusing on systematic, process-driven strategies and emphasis on investor education and transparency
    ✅ Core ETF offerings: QVAL and QMOM, discussing value and momentum factor strategies, design principles, and methodology
    ✅ Niche ETF products: CAOS and HIDE, covering tail risk hedging and managed futures strategies for portfolio diversification in different market conditions
    ✅ Factor investing approach, emphasizing simplicity in factor design and addressing challenges of timing factor rotations
    ✅ Critique of passive investing, highlighting concentration risks in cap-weighted indices and arguments for factor diversification
    ✅ Wes Gray's personal portfolio construction, balancing global equities, managed futures, and tail-risk insurance, considering business-related beta exposure
    ✅ Market efficiency debate, discussing the blend of mispricing and risk compensation, and the importance of cost and tax efficiency in execution
    ✅ Innovation in cash management: BOXX ETF, leveraging derivatives for yield enhancement and addressing challenges in the short-term fixed income space
    ✅ Advice for investors on the importance of disciplined processes and utilizing tools like ETF databases for due diligence

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    32 分
  • The Bogle Legacy: Rick Ferri on the Power of Low-Cost Indexing

    The Bogle Legacy: Rick Ferri on the Power of Low-Cost Indexing
    2025/02/12
    In this insightful interview with ETFatlas.com, Rick Ferri, a renowned figure in the investment world, shares his wisdom on index investing and financial advice. Drawing from his extensive experience, Ferri discusses the principles of successful investing, the importance of simplicity in portfolio management, and his critique of traditional fee structures in the financial industry. He also reflects on the lasting impact of John Bogle’s philosophy and offers valuable guidance for both individual investors and financial advisors. This conversation provides a wealth of knowledge for anyone looking to navigate the complex world of investing with clarity and purpose.

    Key topics covered in this episode:✅ Rick Ferri’s transition from Marine Corps fighter pilot to investment expert
    ✅ The three pillars of successful investing: philosophy, strategy, and discipline
    ✅ Critique of active management and complex investment strategies
    ✅ The benefits and misconceptions of index investing
    ✅ Ferri’s perspective on managed futures and trend-following ETFs
    ✅ The importance of simplicity in portfolio construction
    ✅ Criticism of asset under management (AUM) fees and advocacy for hourly consulting
    ✅ Reflections on John Bogle’s influence and the “majesty of simplicity” in investing
    ✅ The democratization of wealth-building through index funds
    ✅Advice for investors on developing a sound investment philosophy and strategy

    📖 Chapters:
    0:00 Introduction and Rick Ferri's Background
    3:09 The Three Pillars of Successful Investing
    5:56 Index Investing vs Passive Investing
    10:29 The Myth of "Everyone Indexing"
    14:57 Managed Futures and Trend Following ETFs
    20:38 Active Strategies vs Indexing for Individual Investors
    23:31 Avoiding Portfolio Tinkering
    26:28 The Problem with Complex Portfolios
    29:59 Critique of Asset Under Management (AUM) Fees
    35:26 Lessons from John Bogle
    38:04 Closing Thoughts and Where to Follow Rick Ferri

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    37 分
  • The Index Edge: Paul Merriman’s Investment Insights

    The Index Edge: Paul Merriman’s Investment Insights
    2025/01/25
    In this insightful conversation, renowned financial expert Paul Merriman shares his wealth of knowledge and experience in investing. He discusses his journey from stockbroker to founding his own investment advisory firm, and eventually establishing the Merriman Financial Education Foundation. Paul delves into various topics, including:

    ✅ The importance of data-driven investing and understanding the math behind it
    ✅ His meeting with John Bogle and their differing philosophies on investing
    ✅ The case for small cap value investing and its historical performance
    ✅ The challenges of market timing and the benefits of portfolio diversification
    ✅ The emergence of ETFs and trend following strategies

    Paul's passion for financial education shines through as he emphasizes the significance of making informed investment decisions for long-term success. Whether you're a seasoned investor or just starting out, this conversation offers valuable insights into building a robust investment strategy.

    📖 Chapters:
    00:00:00 Introduction and ETFatlas.com
    00:03:30 Paul's early career and transition to investing
    00:08:50 Founding an investment advisory company
    00:13:05 Transition to financial education
    00:19:20 The importance of data-driven investing
    00:23:05 Meeting with John Bogle and differing philosophies
    00:29:20 The importance of having more than enough for retirement
    00:32:50 Teaching young people about investing as a business
    00:36:20 The magic of compound interest in investing
    00:45:50 The case for small cap value investing
    00:54:40 Trend following strategies and ETFs powered by ETFatlas.com

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    1 時間 16 分