Luke Ellis
17 statements across 3 episodes · 2 bullish · 8 bearish · 2 people on the record · first statement Sep 28, 2020 by Luke Ellis · said 3 times in 1 episodes since 2024 · across every show →
On the record as a speaker too: Luke Ellis's record, appearances and statements → this page counts the times other people say the name.
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brought up most by Eric Peters (3)
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2024 3 mentions in 1 episode
Everything said about Luke Ellis, oldest first
Sep 28, 2020
Sep 28, 2020 negative
Sep 28, 2020 neutral
Ellis: Only roughly 1,000 credible hedge funds remain globally today
“The days of talking about 10,000 hedge funds are over. I don't know what the right number today is, but the reality is that probably there's a thousand credible hedge funds out there, and the top hundred have a significant proportion of the assets.”
Sep 28, 2020 negative
Ellis: Allocators shouldn't pay active management fees on long-short equity beta
“So I think if you run an equity long short fund, and you run with a 60% net long all the time, you ought to not charge any fees, or clients should look at that and go, ok, I'm going to work out the fees on the alpha You make, and I'm going to net out the 60% t…”
Sep 20, 2021 neutral
Sep 20, 2021 positive
Ellis: Trend Following Will Profit in a Downturn, but Clients Will Lose Net
“And even if I think the best thing to somewhere between hope and expect to make money out of that change when it happens is trend following. We have a bunch of products, which I think will make our clients a whole load of money in that environment, but it's no…”
Sep 20, 2021
Ellis: Alpha generation requires a repeatable process rather than style drifting
“You have to have a repeatable process. It doesn't happen that one day you're a growth investor and the next day you're a value investor, that you're a bit of macro and then you're a bit of bottom up and you're, I don't believe in that.”
Sep 20, 2021 negative
Ellis: Top-down asset allocation to predict alpha added zero value
“We spent an enormous amount of time in conference rooms doing asset allocation meetings, trying to predict where did we think there was going to be alpha next year? Was it going to be an event year where there's going to be more alpha in stock picking in Europ…”
Sep 20, 2021 bearish
Ellis: The End of Current Macro Regime Will Be Extremely Messy
“And personally, I think when it ends, it will be extremely messy. It's got to happen one day because you can't just keep increasing government debt and all other debt and Having no return on capital and have asset prices go up every day.”
Sep 20, 2021 negative
Sep 20, 2021 positive
Ellis: Finance careers quickly eliminate money worries, enabling optionality
“If you have any successful career in finance, the point where you're worrying about money for life goes pretty quickly. And so my view is you should use the fact that you can afford to live. That gives you options, gives you choices, and you should take those.”
Sep 20, 2021 negative
Ellis: Investors Irrationally Avoid Buying Back Stocks They Previously Lost Money On
“People who lost money in a particular stock never want to invest in that stock again. Even 10 years later, they sold Amazon at the wrong place and you find that they've never bought Amazon again. It's like, look, you can buy things at the wrong place, you can …”
Sep 20, 2021 negative
Ellis: Evaluating fund managers by debating individual stock picks is a mistake
“I think one of the things people get wrong in trying to pick managers is they try and argue with a manager about a particular stock pick. And if the manager agrees with them about the stock that they've got, then they're a good manager. And if they don't agree…”
Sep 20, 2021
Ellis: Managers should scale down volatility when out of sync, not push harder
“I like people or processes where their process is in tune with the market. They push hard. And when their process is out of tune with the market, They don't push hard, but they don't do something different. So you can think of it as if your average vol over ti…”
Sep 20, 2021 negative
Ellis: Man Group refuses fee structures taking 60% of alpha
“I firmly believe that the client needs to get the majority of the returns needs to get the majority of the alpha. And so we won't do something which while it might make a net return for the client that the client might be interested in, but where 60% of the al…”
Sep 20, 2021 neutral
Ellis: CEOs Cannot Get Unbiased Feedback Internally or From External Advisors
“There is nobody inside the organization that you can talk to that it's not a leading conversation. I can't talk to somebody about, yeah, I'm wondering whether this is working or not working. That immediately creates a bad impact you don't want to do. And you c…”
Dec 16, 2024
Peters: Asset managers must narrow focus to scale before resuming experimentation
“When you start an asset manager, You gotta figure out what works, what makes you special, and you might have to try a number of things, and then at some point, if you're fortunate, you figure it out. So you're just surviving, which we did for a lot of years, a…”