“There will be a bigger reckoning” — Ewan Kirk on markets, venture and crypto

Ewan Kirk, whose systematic firm Cantab Capital Partners ran $5bn at peak, has been busy with venture capital and philanthropy since leaving the firm in March last year. But the incredible gains in quant investing this year have not escaped his attention.

The Core Macro fund at his old firm has performed well, up 9.4% in the first five months and on course for its best year since 2017, benefiting from its value, carry and trend-following trades. Trend has been the standout industry strategy this year after large and sustained price moves in equities, commodities and other markets.