Max Lee
speaker
92 appearances
1 recordings
1 series
first heard Jul 2026
last heard 10 Jul
Max Lee’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
I think the first thing that's important is like to describe what is systematic trading.
If you looked when I started, which would have been close to to twenty fifteen.
the line between discretionary and call it quant, I think, was was a lot larger.
Now, even in discretionary pods, everyone is looking at data, everyone is modeling.
And so how do you actually define what is signal driven versus systematic has has honestly become a key point.
Generally when we think about the world, systematic has pretty much a full automation component to it.
Everything from data consumption
to signal origination.
to risk management, to the market participation, all of that should be end to end and assign some degree of risk budgeting from a top level kind of organism.
As we look at like who started to participate in that format, I think that people have gravitated towards the ability to show, you know, not just a backdest, but kind of how an idea can evolve and perform through different regimes.
And especially if you look at the the commodity asset class, that's really important, right?
I mean, we you spoke about some of the volatility that has been in the asset class since really COVID.
I mean, I think if you looked prior to COVID,
It was a generally low vol regime.
We had idiosyncratic shocks that would occur, but
generally it was hard to get meaningful return.
As soon as you have, you know, the headline that everyone knows where oil went to negative through some of the inflationary recovery, then into Russia Ukraine, extending all the way then to obviously the Iran uh war this year.
More and more people have become interested in commodities, but a lot of those people are not necessarily commodity experts.
And one of the ways that then people get comfortable with managing that exposure is can I do something that is fully process driven that then I can go to my CIO or my PM or whomever it may be and show exactly like what we expect the distribution of that return to be, which is really, really important in this asset class.
I think that gives a g uh generally like a
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