ReSolve Riffs with Andy Constan about Successful Macro Trading on Liquidity, Flows & Sentiment

This week we had the pleasure of speaking with Andy Constan (CEO / CIO at Damped Spring Advisors) and prolific member of the FinTwit community under the @dampedspring penname. Our conversation spanned topics including: His long and interesting career in the investment world Starting with equity derivatives and eventually earning his ‘global macro education’ at Bridgewater Associates The constantly evolving challenge of generating alpha Trading and managing portfolios at scale and the importance of liquidity Separating alpha from beta Basis risk vs liquidity risk The broad macro picture vs what is priced in The unique challenges posed by the current environment The front-running of quantitative tightening The daily marking to market of risk premia The weak link between consumer inflation and the Fed’s balance sheet The interplay between the Fed, the Treasury and the bond market Interpreting the messages coming from policymakers The importance of positioning data and rebalancing flows And much more This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.   *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.