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When You Aim for a Billion Dollars, Sharpe Ratio Is No Longer the Main Question.
Over the past weeks, I ran multiple versions of the same systematic equity strategy on the DJ30 universe. At first glance, some…
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The Economic Case for IQMG OS (Illustrative).
Assume a 15 billion USD equity mandate. 1️⃣ Drawdown Delta Max drawdown difference in sample:– Asset-only: -16%– IQMG governed: -11%– Delta: 5%5%…
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When Diversification Fails: Correlation Shocks in Tiered Credit Markets.
When credit markets are structured in tiers, we often take comfort in the idea that risk is segmented and diversification will absorb…
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Yield Curve Is No Longer a Signal — It Is a Constraint.
(An allocation and risk-governance perspective) The central issue is not the absolute level of yields, but the structure of the system in…