Sunday, June 4, 2023

Episode 10: CFM chairman Jean-Philippe Bouchaud


  • Jean-Philippe Bouchaud, CFM co-founder, speaks to AFI
  • Paris-based quant hedge fund now runs a record $10bn
  • He shares insights on the science behind systematic and CFM strategy

Jean-Philippe Bouchaud, co-founder and chairman at $10bn quant firm Capital Fund Management, was the guest on episode 10 of the AFI podcast.

A physicist by training and a pioneer in the world of quantitative finance, Bouchaud has overseen the growth of Paris-based CFM to one of the world’s largest quant hedge funds.

He discusses his career in finance, the shape of CFM today, the importance to the firm of academic research and why they decided to avoid crypto risk in the portfolio. Here is a listening guide to the episode:

There are listen links below. Here is a listening guide to the episode:

1.57: Shape of CFM today
2.45: Why has it been such a good year for systematic?
5.13: What about trend-following?
6.58: Significance of this year’s regime shift
9.00: Has this year made you consider a change in strategy?
10.28: Will market environment continue to suit trend?
11.42: Has CFM gone into crypto?
13.39: Do more bond market battles lie ahead?
14.40: Is his academic or finance career more important?
17.50: Criticism of central bank models
20.12: Need for different underlying assumptions
24.05: Is there not a need for precise forecasts?
25.27: Volatility driven by price trends not fundamentals
27.36: Why did 1987 crash attract him to finance?
29.40: Difference between economics and physics

Read five key takeaways from the interview here

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