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Andreas Clenow is a Chief Investment Officer located in Zurich, Switzerland, overseeing many investment strategies over a nine-figure asset base. In today’s interview, we focus mostly on his work within a quant hedge fund. We are covering many trading topics, including trend following strategies and equity momentum strategies. You can also find out why trading own money is not always the best option to do.

Andreas is an author of international bestsellers titled Following the Trend and Stocks on the Move. These books present a quantitative approach to modelling the markets with extensive backtest results. You can also learn from the practitioner how hedge fund business looks from the inside.

No worries if math or statistics is your Achilles’ heel. As Andreas says, scientific papers often are unnecessarily obfuscating the knowledge so that it’s not easily accessible to everyone. He proves it doesn’t have to be the case, explaining complex things, as we could think, in an easy way.

In this episode

  • Andreas’ trading career
  • Andreas’ approach to professional trading
  • What level of long-term annual profit and risk does he aim to achieve?
  • Why trading own money, being a retail trader, is a bad trade?
  • What are the biggest misconceptions about trading?
  • Difference between a mutual-fund manager and a hedge-fund manager
  • What is trend following?
  • What in terms of performance we can/should expect from a trend following strategy?
  • The Efficient Frontier as a concept to mix trend-following with standard long-only equity portfolio.
  • Is it possible/feasible to replicate existing futures funds?
  • How the right approach to backtesting should look like?
  • Does trend following is going to die due to market changes?
  • Why stocks are the most difficult asset class?
  • Why classic trend following doesn’t work on stocks?
  • Problem with short side on stocks
  • Difference between equity momentum strategies versus trend following
  • Why Python programming language is so popular in the quant world?

Some useful links

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