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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