FEATURED: The Recovery: Shape Matters - Live with Raoul Pal & Logica's Mike Green
These are unprecedented times – entire countries have shut down, large portions of the global population are quarantined, business has come to a grinding halt, and markets are in disarray as they rally on hope and collapse on fear. With China showing the first signs of a return to relative normalcy and Europe seemingly making its way to the other side of the deadly curve, we are faced with one question: what will the shape of the recovery look like? Do we slide into oblivion from here (L)? Make a quick recovery (V)? Or go down a protracted road of pain and misery before seeing light (U)? To gain some clarity on what is possibly the single most important question of today, Raoul Pal, CEO & co-founder of Real Vision, joins chief strategist and portfolio manager at Logica Capital, Mike Green, to debate what the endgame looks like. Having expressed opposing views of life on the other side of COVID-19, this week’s Real Vision Live promises to shed light on the most important conversations taking place in capital markets right now.
FEATURED: Logica's Wayne Himelsein - Preparing for the Return of Market Volatility
Wayne Himelsein explains why he believes that markets are not prepared for a likely “phase shift” from a low volatility world to one where volatility is dramatically more pronounced for an extended period of time.
Logica's Michael Green on Jim O'Shaughnessy's Infinite Loops Podcast
In this episode of Infinite Loops we spoke with Michael Green, Partner & Chief Strategist at Logica Capital Advisers. In a wide-ranging discussion that could have lasted the rest of the day, we covered:
The passive narrative, and its impact on market structure.
Vanguard and Blackrock’s lobbying efforts.
Target Date Funds and their increasing dominance.
COVID-19 and the government’s response.
The power of language.
Michael’s recent paper: Policy in a World of Pandemics, Social Media, and Passive Investing
Logica's Michael Green on Bloomberg's Odd Lots Podcast:
Why The Rise of Passive Investing Might Be Distorting The Market
Over the last decade or so, we've seen an incredible rise in so-called passive investing. While definitions differ over what this means, we've seen more and more money poured into index funds (which own every stock in a given basket). Meanwhile, money has been yanked away from money managers who attempt to select individual stocks. One school of thought argues that this is a positive, in part due to lower fees. But is there a dark side?
Wayne Himelsein: The Human Behind the Hedge Fund
On this episode we're covering the oddity of a volatility trader living somewhere where there is no volatility (in the weather), reading the world’s longest book, hoping this is the big one when your car is in midair, J-Curve the rapper, and overpaying by 1000% for out of the money options.
Michael Green: The Acquirer's Podcast - Passive Agro,
Shorting XIV, What's a Value Guy To Do?
Michael is a regular guest on Real Vision and his proprietary research into the shift from actively managed portfolios and investment funds to systematic passive investment strategies has been presented to the Federal Reserve, the BIS, the IMF and numerous other industry groups and associations. During the interview Michael provided some great insights into:
Passive Risks To The Market
Shorting The XIV
When Will Value Investing Recover
What Makes Chuck Royce Such A Phenomenal Investor
This Bull Market Is Different From Any Other
Warren Buffett Buying Index Funds
Baby Boomers And The Impact Of Mutual Fund Redemptions
What Caused The Recent Surge In Tesla