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CAIA Virtual Chapter presents Navigating Economic Cycles: The Role of Macro Driven Equity Trading in Hedge Funds
Date(s):
April 18, 2024
Note: All times listed are in local time
Venue:Webinar
Fee(s):Free Event
Description:In this conversation, Christie and Alessandro will delve into the intricate interplay between monetary policy, economic indicators, and long/short equity hedge fund performance. Specifically, it will explore the impact of accommodative and restrictive monetary policies on equity returns and volatility, while shedding light on how policy decisions and guidance influence market dynamics. First, we will delve into the impact of monetary policy on macro-driven equity trading. This entails analyzing how adjustments in interest rates affect equity returns and volatility. Additionally, we will explore the nuanced influence of policy guidance, such as speeches and statements by policymakers, on market dynamics ( also showing how subtle changes in language in official communication by the central bank often trigger significant market movements ). Secondly, we will discuss the pivotal role of policymakers in interpreting economic data and incorporating it into their decision-making processes. This interpretation significantly shapes market expectations, thereby impacting equity returns today. We gain insights into the dynamic relationship between economic data releases, policy responses, and subsequent market reactions, underscoring the complex nature of macro-driven equity trading.
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Christie Hamilton
Organization: CAIA Association
Ms. Hamilton currently serves as a Director of Content & Research at CAIA Association, where she oversees the organization’s thought leadership and external research efforts. Christie brings over 16 years of experience as a practitioner, having built bespoke investment programs on behalf of a variety of institutional investors while in previous roles with Children’s Health and Cambridge Associates. She is an outspoken advocate for accessible investment education, fiduciary responsibility, governance, long-termism, diversity, stakeholder management, and transparency.
Alessandro Langer
Organization: Centiva Capital, LP
Alessandro Langer is a hedge fund investment manager and an advisor, recognized as an industry expert in trading, macroeconomics and data science. Mr. Langer is a Portfolio Manager at Centiva Capital, a multi strategy hedge fund headquartered in New York, where he trades equity futures. At age 29, he joined Centiva Capital as a Portfolio Manager, making him one of the youngest stand-alone Portfolio Managers in the industry in the EMEA region. At Centiva, Mr. Langer is Co-Head of a new joint venture focused on event trading around economic events; an effort he runs jointly with a Senior Portfolio Manager. Prior to his role at Centiva Capital, Mr. Langer was a Principal Trader at Morgan Stanley where he worked in the Cash Equity Trading Desk, where he independently managed the desk cash inventory around macroeconomic risk events. Prior to Trading, he worked as a data strategist in Equity Research, where he collaborated closely with Morgan Stanley Chief US Economist Ellen Zentner and contributed to the development of some of the firm's quantitative models on growth, and financial conditions. Mr. Langer has pioneered a novel investment strategy known as macro event-driven equity investing, which focuses on trading equity market futures by primarily considering macroeconomic indicators, such as economic releases and central banking decisions, rather than traditional fundamental metrics. Mr. Langer is also an advisor on investment, economics and data science matters to a broad range of individuals and corporations. Mr. Langer is a member of CAIA – where he also advises the network on the curriculum – and is a member of the FISD, the Alternative Data Council and of the National Association in Business Economics (NABE). In 2023, Nova Talent – the global top talent network – placed him first in the list of the most talented professionals under 35 in the field of Investment and Real Estate in Italy. He holds a bachelor’s in economics and a MSc in Applied Analytics from Columbia University where he was awarded a Fulbright Scholarship in Data Science.
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