Richard Craib

speaker

238 appearances 1 recordings 1 series first heard Jul 2026 last heard 31 Jul

Richard Craib’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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We had one losing year so far with Numerai, right?

If you're in the business of being an investment manager, you're almost putting yourself on the hook to be like, yeah, one time we lost money.

In fact, about 50% of days we'll lose money, right?

So you really don't want to be negative about that.

No, so I think that's one very important piece.

I would say the key thing that I think matters is not just leverage, which I think people are saying, oh, you use leverage, you lost money.

We use leverage.

I'll bet you we use way more leverage than situational awareness.

Interesting.

We're not levered long.

We're not levered factors.

So if you were to plot our performance on a graph,

You would see and you would say, show me the unlevered performance.

It would basically look like the x-axis.

You wouldn't even notice it.

Sure.

It's so much kind of risk constrained that it requires leverage to get to appropriate vol.

Got it.

So with more leverage than situational awareness, we have...

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