Leaving Academia


Hi, I have been listening to your podcast and I must say that am quite impressed! It is so refreshing to finally hear some intelligent comments in a world full of BS. I have been in academia for the last ten years and I have to constantly (at least for the first 5 years) fight to get my professors to understand that CAPM, APM etc are very flawed models. Firstly because they don’t take into consideration market anomalies. Secondly because of their very limited way of looking at risk by not including trends (slope of the moving average). Fine, markets are random in the short term (short-term=bull/bear traps=Devil) but in the long term it is so obvious that markets are trending. A Nobel prize for a flawed model what a bunch of …. Anyway, I am finishing my PhD in economics soon and I am thinking of applying to all top investment banks. My question is: Is there any bank hedge fund that applies systematical trend following that you recommend that I could apply to? Regards, Marcus

Exclusively? None, but its not their mission to begin with. Hedge funds? Many.