Long Story Short

In this episode of Extra Credit, Andre Rzym and Tarek Abou Zeid discuss the world of catastrophe (cat) bonds. In 2023, insured losses from natural disasters stood at an estimated $3-5 billion, insufficient to worry the cat bond market but big enough to sustain demand for reinsurance. With low correlation to the major asset classes and higher yields than comparable securities, could this genuinely diversifying asset deserve a place in your portfolio? Overview of this season of Long Story Short: The world of credit is evolving. Gone are the days when investment grade bonds were only sold over the phone and the world of direct lending was a little-known niche. Corporates now have a multitude of ways to access capital and investors can diversify their credit allocation more than ever before. Extra Credit, the fourth season of our Long Story Short podcast, will explore the ways credit is changing and how it fits into your portfolio. Hosted by Danilo Rippa, Head of Global Credit Multi-Strategy and Global Convertibles at Man Solutions, this season will feature experts from across the credit investing spectrum.

The world of credit is evolving. Gone are the days when investment grade bonds were only sold over the phone and the world of direct lending was a little-known niche. Corporates now have a multitude of ways to access capital and investors can diversify their credit allocation more than ever before. Extra Credit, the fourth season of our Long Story Short podcast, will explore the ways credit is changing and how it fits into your portfolio. Hosted by Danilo Rippa, Head of Global Credit Multi-Strategy and Global Convertibles at Man Solutions, this season will feature experts from across the credit investing spectrum. In this episode of Extra Credit, Robert Lam and Paul Kamenski, Co-heads of Credit at Man Numeric, join Danilo Rippa, Head of Global Credit Multi-Strategy and Global Convertibles at Man Solutions, to discuss adopting a quantitative approach to investing in credit markets. In their wide-ranging conversation, Robert, Paul and Danilo discuss the rise of quant credit, the alpha opportunities it presents, as well as what the future of trading credit systematically might look like.

A regional banks crisis. A recession that always seems just around the corner. And inflation figures that refuse to budge. It’s no wonder that many investors and allocators are stepping back from taking major macro positions, keeping their powder dry, or only making highly selective calls. In this episode of our Liquidity Matters season, Katie Martin, Markets Editor at the Financial Times, joins Robyn Grew to discuss US equity’s reluctant rally and how this peculiar market environment affects the way investors are thinking about liquidity in their portfolios.

In this first episode of Liquidity Matters, Michael Turner, CEO at Man Solutions, joins Robyn Grew, President at Man Group, to discuss why the selloffs of 2023 mean that liquidity is of more importance than ever. In their wide-reaching conversation, Robyn and Michael share how sophisticated investors should be thinking about liquidity in their portfolios, how it can be measured, and how to adapt to sudden liquidity shocks such as the UK’s LDI crisis.

2022 has seen inflation move from ‘transitory’ to recessionary risk, supposedly low-risk pension investment strategies caught in a liquidity crisis, and the return of high interest rates and high asset price volatility. As investors and policymakers alike look to manage risk ahead of 2023 which appears set to be a repeat of 2022, delivering returns is more important than ever.   For the final episode of the year, Luke Ellis, CEO at Man Group, joins Peter and Long Story Short to discuss the state of today’s markets, hedge fund performance in 2022, and what comes next for an industry with a duty of care for its end savers.

Has the death of Value been greatly exaggerated? Will the factor thrive in the new inflationary regime or struggle to survive from a Fed pivot? Dan Taylor, Chief Investment Officer at Man Numeric, joins the podcast for this bonus episode on what comes next for the Value factor.

What does the fall of FTX mean for the wider decentralised finance industry? Is this a ‘Lehman moment’ as so many commentators have called it or a necessary correction away from centralised, offshore exchanges? And what regulation needs to be in place for the future to give investors confidence in this emerging space? Joining the podcast again for a bonus episode of our Trend Setters series is Campbell Harvey, Professor of Finance at Duke University and author of DeFi and the Future of Finance and co-author of An Investor’s Guide to Crypto.

What are the signs of a good trend-following manager? When should you fire a bad one? In the final episode of our Trend Setters series, we explore the practical side of allocating to trend.   Michael Turner, CEO at Man Solutions, joins the podcast to share his experience of the types of managers and strategies to consider, the red flags to watch out for, and how trend could be a powerful, permanent part of your portfolio.

If 2021 was the year of ‘peak stupid’ in markets, is 2022 the year when everything breaks? Robin Wigglesworth, Alphaville editor at the Financial Times and author of Trillions, joins Peter van Dooijeweert to discuss the disruption in the UK government bond market, the passive investing revolution and the future of trend-following.

How do alternative momentum strategies work and what differentiates them from traditional CTA futures? In this episode, Peter is joined by Giuliana Bordigoni, Director of Specialist Strategies at Man AHL, to discuss what makes an alternative alternatives strategy, the diversification benefits relative to traditional trend strategies and asset classes, and execution is often just as important to success as your signals.

Will crypto have a place in a multi-asset trend-following strategy? What’s the academic foundation for why trend-following works when so many other strategies have been proven wrong? And what can investors do to protect their portfolios from the ‘Achilles Heel’ of trend? Campbell Harvey, Professor of Finance at Duke University, joins the podcast to discuss his ground-breaking research into trend-following and his latest books including Strategic Risk Management and DeFi and the Future of Finance.

In this episode we dive into the reasons why trend following strategies work and importantly, when they work. Joining Peter is Otto Van Hemert, Director of Core Strategies at Man AHL, co-author of the award-winning paper Best Strategies for Inflationary Times which highlights trend as one such solution. Trend Setters What makes a trend in asset prices? Which environments offer the best returns for quantitative trend-following strategies? Introducing Trend Setters, the new multi-part podcast series from Long Story Short. Hosted by Peter van Dooijeweert, Head of Multi-Asset Solutions at Man Solutions, Trend Setters is demystifying the world of trend-following strategies and why they work in volatile markets. Articles mentioned in this episode: Best Strategies for Inflationary Times The Best Strategies for the Worst Crises

In 2022, trend-following indices have posted some of their best returns of the past 20 years. Against a backdrop of both equity and bond market sell-offs, these alternative strategies have thrived. But why? For the second season of Long Story Short, Trend Setters is demystifying the world of trend-following strategies and why they work in volatile markets. Russell Korgaonkar, CIO at Man AHL, joins the podcast to demystify why these strategies often work when others don’t.

Given the volatility in both credit and equity markets, portfolio hedging has never been more important. Peter van Dooijeweert, Managing Director at Man Solutions, joins Long Story Short to discuss the different ways investors can manage their tail risk, from put options to risk distribution strategies.

Why is Fortran, one of the oldest and least-used programming languages, so crucial to modelling the impact of climate change? How do forest growth, cloud formations and soil quality feed impact portfolio risk assessment? And what do ensemble climate models and professional football teams have in common? Matt Goldklang, Climate Scientist at Man Numeric and recent co-author of the award-winning Climate Investment: Positioning Portfolios for a Warmer World, joins Long Story Short to discuss climate models, adaptation versus mitigation game theory, and how your portfolios can adapt to a more chaotic climate future.

Just a few months ago, US inflation levels hit the highest levels seen since the 1990s. Now the level is higher than at any point in the past 40 years, eclipsing many of our careers in the investment industry. Such a drastic shift in a short space of time requires professional investors to reshape their portfolios in response to the new landscape, but which assets are best suited to high and rising inflation, and which to an environment where inflation has peaked and begins falling again? Teun Draaisma, portfolio manager at Man Solutions, and his team been developing a robust quantitative investment framework – Fire and Ice – around inflation for the past five years. Recently winning the prestigious Bernstein Fabozzi Jacobs Awards for their co-authored paper The Best Strategies for Inflationary Times, Teun joins Shanta Puchtler to discuss the strategies that work when inflation hits.

A dizzyingly expensive bond market, record levels of inflation and hawkish central bank policy shifts. Taken together, investment grade investors could not have asked for a more tumultuous start to the year following one of the worst years on record for total returns. After years of bond purchases at seemingly any price, how can investors navigate this new dynamic? In the debut episode of Long Story Short, portfolio manager Jonathan Golan joins the podcast to discuss the outlook for investment grade fixed income, the search for yield and the key risks investors should watch out for.

What makes a trend in asset prices? Which signals should you be looking for to find momentum in markets? Which environments offer the best returns for quantitative trend-following strategies? For the second season of Long Story Short, host Peter van Dooijeweert, Head of Multi-Asset Solutions at Man Solutions, is demystifying the world of trend following. You will hear about why trend strategies have outperformed other risk assets, the ways investors can look for trends in noisy markets, and how it might fit into your portfolio. Welcome to Trend Setters, a new multi-part series from Man Group, coming September 21.