Ep. 183: Jason Halliwell on Value Investing, Systematic Macro and Carry

This episode is sponsored by Masterworks

Jason Halliwell is the head of GMO’s Systematic Global Macro team and a partner of the firm. GMO is a leading value-oriented asset manager with $60bn under management. Jason joined GMO in September 1999 from Westpac Investment Management where he spent three years in research and development of quantitative tactical asset allocation methods. In the podcast, we talk about:

Why systematic works in macro
How to think about value investing
The earnings problem of growth stocks
Equity views
What drives bond valuations
Inflation trends
Bond outlook
Short-term technical indicators
Analyst expectations
Knowing when to refine models.
Machine learning in investment process
Carry trades
Lessons for systematic investing.
Books mentioned: Valuing Wall Street (Smithers, Wright)

You can follow Jason and the GMO team’s work here.

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