Ep. 184: Martin Lueck On Scientific Investing, Trend Models and Macro Divergences 

Marty co-founded Aspect Capital, which manages over $8bn in a range of systematic investment solutions.  He is the Research Director and oversees the Research Team responsible for generating and analysing fundamental research hypotheses for development of all Aspect’s investment programmes. He currently serves on the Board of the National Futures Association and as Chair of the Oxford Physics Development Board. Prior to founding Aspect, Marty was with Adam, Harding and Lueck Limited (AHL), which he co-founded in 1987 with Michael Adam and David Harding. He holds an M.A. in Physics from Oxford University. In the podcast, we talk about: 

• Story behind setting up AHL and Aspect 
• How to be scientific in investing 
• Importance of testing hypotheses 
• When to switch models off 
• Why trend works as a style and impact on portfolios 
• Behavioural family of models 
• Using machine learning 
• The abnormal post-GFC period 
• Return of currency investing 
• How to think about risk management 
• ChatGPT and LLMs 
• Building the right company culture 
• Interest in physics 
• Books mentioned: The Undoing Project (Lewis) 

You can follow Marty and Aspect team’s work here.  

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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)