We think

Complication and complexity: Need they be feared?

18 September 2019 / Dr Ewan Kirk

How can you distinguish complicated from complex systems? This piece explains why investors should not fear systems that are complicated, but should have justifiable concerns about systems that are complex.


Trend Is Not Your Only Friend

26 July 2017 / Dr Ewan Kirk and Dr Chris Longworth

Simple rules on macro assets can create very attractive returns. We present a simple trend system and a simple carry system in which the combination of the two return streams appears very attractive.


You Probably Can't Lose

8 December 2016 / Dr Ewan Kirk, Dr Tom Gillam

What can an interesting and surprising experiment with finance students and finance professionals tell us about financial decisions and how to maximise extracting returns from low information content systems?


Why Quant Now?

11 October 2016 / Anthony Lawler, Adam Glinsman

Is your diversified portfolio a single factor bet? Investors in equities and bonds have been nicely rewarded since the Global Financial Crisis (GFC) as both asset classes have rallied substantially since. It has been a great dual beta trade. But fundamental investors searching for value opportunities have, by and large, struggled to outperform since 2010. Why is that so, and are these two points related?


Tech is Alpha

1 March 2016 / Erich Schlaikjer

Erich Schlaikjer, explores the virtues and complexities of technology, and how good technology is ultimately what allows Cantab to create profits for our investors.


Does my tail look fat in this? Part 2

3 February 2016 / Dr Ewan Kirk

Investors and managers are concerned with “fat tails”. In the second part of this post, we look at kurtosis in more detail.


Does my tail look fat in this? Part 1

11 November 2015 / Dr Ewan Kirk

Investors and managers are concerned with "fat tails". In part one of a two part article we look at where fat tails come from and how they can be managed.


The Art of Backtesting

26 August 2015 / Dr Matthew Killeya and Claus Simon

Backtesting is at the heart of systematic investment. Done correctly, and it can recreate reality closely enough to identify systematic patterns which are likely to persist in the future. Patterns discovered by a robust backtest can be exploited to generate returns. But there are many subtle pitfalls to be avoided, and this is where the best researchers earn their salt.


Algorithm Aversion

21 May 2015 / Dr Ewan Kirk

Investors in general are sceptical of systematic trading. Why could this be? Long term performance seems to indicate that the performance of models is at least as good as that of humans. So why the scepticsm?


Debunking the Myths

20 April 2015 / Dr Matthew Killeya

Dr Matthew Killeya dispels a few of the myths surrounding systematic investment.


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