Gary Antonacci Interview with Mike Melissinos

July 13, 2018

Today, I talk to Gary Antonacci, author of Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk.

Gary has over 40 years of investing experience, holds an MBA from Harvard.

He also found, invested and worked with a few investing legends when they were relatively unknown – Paul Tudor Jones (billionaire fund manager), John W. Henry (billionaire fund manager, owner of Boston Red Sox) and Richard Dennis (incubated the famous Turtle traders).

Gary has been a guest on many other well-known podcasts, including Michael Covel’s and Meb Faber’s shows. On their shows, they get into the weeds on Gary’s Dual Momentum system – why it works better than simple buy-and-hold, why combining absolute and relative strength momentum create great synergy and a few other related topics.

I didn’t want to recreate their episodes, so I decided to ask Gary a few additional questions and talk about some non-technical things.

Some of our topics include:

1) Why Gary prefers momentum to other investing styles

2) How momentum investing helps you avoid that one debilatating, 2008-esque, loss

3) Gary’s experience investing with Paul Tudor Jones, John W. Henry and Richard Dennis

4) What Gary learned from these legendary managers

5) What Gary looks for when he invests with a manager

Check out the links below to learn more about Gary, his investing system and it’s performance and on momentum investing, in general.

Gary’s Book: Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk

To Learn More About Gary’s Momentum System: https://www.optimalmomentum.com/index.html

Gary’s Blog: http://www.dualmomentum.net/

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Interview with Financial Advisor and CFP, Derek Notman of Intrepid Wealth Partners

July 2, 2018

Derek Notman, CFP, is a financial advisor from Madison, Wisconsin. His firm is Intrepid Wealth Partners.

Derek recently discovered trend following and is starting to educate his clients on the benefits of adding it to their portfolios.

Today, we talk about:

- how he discovered trend following (Michael Covel's books, a personal mentor and The Way of the Turtle book)

- how he educates and works with his clients

- how trend following and entrepreneurship are closely related and

- the "right" allocation amount to trend following

Derek can be reached through his website http://www.intrepidwealthpartners.com/.

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John Wooden and Focusing Only on Results

May 27, 2018

The only thing Wooden cared about was focusing on things within his control and doing them to the best of his ability. He didn’t care or worry about things outside of his control, including winning. He actually believed winning was outside of his control. Remember, this is a guy who’s won more national titles than anyone.

https://medium.com/@mmelissinos/john-wooden-and-focusing-only-on-results-9eb3c2971bec

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Trends Have Trends

March 26, 2018

Every investment strategy experiences winning and losing streaks. They all take turns at the front and back of the line. Trend following has been sitting near the back of the line for the past 5-10 years, while stocks sit near the front.

Trend following performance derives from the aggregate trends of all the markets within the portfolio, not just one or two markets or sectors. Over the past few years, performance struggles as choppiness from other major asset classes weigh down positive performance from stocks.

This, while annoying, can happen from time to time. The next 5-10 years may not look like the past 5-10 years. Maybe stocks chop around for a while and commodities trend well. Maybe stocks and bonds both decline while commodities and currencies rise. Who knows. 

https://medium.com/@mmelissinos/trends-have-trends-663ce5e8379f

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A Trend Follower’s Secret Weapon Makes a Comeback

March 21, 2018

For the past 5–10 years, trend followers have had to deal with a double-whammy — poor markets and no interest on excess cash. However, it appears at least one of those is changing for the better.

Interest rates are rising.

Today, the 3-month T-Bill yields ~1.75%. Even though this is pretty low on a historic basis, this is a welcoming sign given it sat near zero percent from 2009–2016.

https://medium.com/@mmelissinos/a-trend-followers-secret-weapon-makes-a-comeback-fc3e064c3c29

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Opportunity in Commodities?

March 17, 2018

The following factors make me bullish on commodities:

1) Multi-year congestion

2) Low volatility

3) A rolling Sharpe Ratio near historic lows and most importantly...

4) New price breakouts.

 

https://medium.com/@mmelissinos/opportunity-in-commodities-d0281fca3ece

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A Storm’s a Brewin’ in U.S. Government Bonds

February 23, 2018

I believe the bond market presents the most intriguing opportunity for trend followers right now.

We’ve gone through an unprecedented time of low interest rates since 2008 and now that trend appears to be reversing. This trend may have more fuel than others given the extremely low volatility and overall feeling of complacency.

Long-only bond funds, especially ones that use volatility to size their risk, have built up massive positions so any uptick in volatility or reversal of trend might trigger a mass exodus — kind of like what we saw in stocks and volatility-related instruments a couple of weeks ago.

https://medium.com/@mmelissinos/a-storms-a-brewin-in-u-s-government-bonds-93dd50f338fd

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An Update on Precious Metals

January 30, 2018
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