Micromanaging Institutional Clients Prevent Macro Managers from Taking Necessary Risk
James Aitken · James Aitken – Macro Strategist Extraordinaire (Capital Allocators, EP.58) · Jun 25, 2018 · at 29:55
Macro strategist James Aitken discusses why hedge fund managers need aligned institutional clients to successfully manage macro risk.
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“You need the right clients. You can't have clients who ring you up every Friday saying, what have you done this week? That is just no way to manage money. But I'm afraid that's tended to go hand in hand with a lot of the institutional allocations that macro managers and hedge fund managers more broadly have changed. You know, they sit on your shoulder all the time, meaning that you feel you can't lose any money at all. And if you can't lose any money at all, Then you don't feel terribly compelled to take any risk.”
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