It is sometimes funny when traditional such as Macquarie look at herding stock market behavior and act as if they were Christopher Columbus discovering new concepts. Just like Columbus might not have been the first to “discover” America — that point has been in dispute, particularly among native Americans — practitioners in managed futures CTA strategies might look at a recent presentation delivered by Macquarie Research on the impact of herding on stock prices and think this is like a course in Momentum 101. [dalio] Both human and technical factors surrounding “herding” effect It is sometimes difficult, if not impossible,…
Like Christopher Columbus, Macquarie "Discovers" Herding
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.