You like the idea of proving a strategy is broken rather than it is right. This was the question Michael Covel asked Ewan Kirk of Cantab Capital during one of his recent trend following mega episodes. The answer was fascinating: I don't think I'm the first person to come up with that. Effectively that is the scientific … Continue reading Let’s kill it!
Category: organizational alpha
Today I came across an article of Gerry O'Reilly, portfolio manager of the Vanguard Total Stock Market Index Fund. The fund has $ 488 billion AuM. Key success factor (besides Vanguard's overall culture) is operational excellence / technology: Vanguard has invested heavily in technology. Algorithms help managers figure out where to buy and sell while minimizing market … Continue reading Execute!
Organizational alpha: Investment Committees
At money management firms, the investment decision making process is one of the crucial elements. While the investment process/philosophy itself often gets lots of attention, the investment committee making the investment decisions does not always get the same level of scrutiny. Being part of an investment committee myself, I experienced the pro's and con's of making investment … Continue reading Organizational alpha: Investment Committees