What podcasts say about Mark Rzepczynski
Every statement, with the speaker, the exact quote and the moment it was said.
What Mark Rzepczynski has said on podcasts
106 statements · 33 positive · 55 negative · 2 mixed · 16 neutral
Machine learning can capture market trends.
“Can you use machine learning to capture trends? I think the answer is yes.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 0:10
Trend following differs from machine-learning alpha strategies.
“trend following is probably unique and different than the growing focus on machine learning as a way to create alpha.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 0:19
Protests or riots in France are materially affecting markets.
“I think that that's really having a big impact on markets.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 2:23
When earnings momentum stops, discount rates become more influential on asset prices.
“Once earnings stop to increase. you lose earnings momentum, then what we're going to sort of see that the discount rate will then become more dominant.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 7:05
When earnings momentum stops, discount rates will dominate equity valuations.
“Once earnings stop to increase. you lose earnings momentum, then what we're going to sort of see that the discount rate will then become more dominant.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 7:05
Trend followers can profit from shorting bonds during rising-rate trends.
“you can make money shorting bonds”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 11:37
Trend followers can profit by shorting bonds when rates rise.
“you can make money shorting bonds”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 11:37
Trend followers may perform better in markets dominated by hedgers.
“markets that have more hedgers relative to speculators, a trend follower could do better”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 13:08
Trend followers may perform better in markets with more hedgers than speculators.
“markets that have more hedgers relative to speculators, a trend follower could do better”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 13:08
Shortages of bank intermediation capital increase crisis susceptibility.
“if there's a shortage of... bank intermediation capital, then we're going to be more susceptible to a crisis”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 22:51
Capital-constrained dealers increase the likelihood of market dislocations.
“If you can't serve your warehouse function, then that means is that you're going to have to move from seller to buyer extremely quickly in a disorderly fashion. And there's more likelihood that there's going to be dislocations in markets.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 24:38
Capital-constrained dealers increase the likelihood of disorderly market dislocations.
“If you can't serve your warehouse function, then that means is that you're going to have to move from seller to buyer extremely quickly in a disorderly fashion. And there's more likelihood that there's going to be dislocations in markets.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 24:38
Globalization has reduced poverty and expanded middle classes.
“globalization has been a boom to most around the world when you look at the reduction in poverty”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 29:38
Globalization reduced poverty and expanded emerging-market middle classes.
“globalization has been a boom to most around the world when you look at the reduction in poverty, we look at the extent of the growing middle class in many emerging countries.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 29:38
Commodity underinvestment can produce prolonged price increases across markets.
“there are periods where there's underinvestment in commodities markets. So there's less capital expenditures. Then there's going to be a grind of prices moving higher across a number of different markets”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 36:19
Commodity underinvestment can drive prolonged price increases across markets.
“there are periods where there's underinvestment in commodities markets. So there's less capital expenditures. Then there's going to be a grind of prices moving higher across a number of different markets”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 36:19
Current bond yields represent a return to historical normality.
“the important point that I take away is that, no, that the current environment is a return to normalcy.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 38:49
Current elevated interest rates represent a return to normal conditions.
“the current environment is a return to normalcy.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 38:53
Underlying economics justify bond yields near recent auction levels.
“this is close to where we are right now just if you look at the underlying economics. So it's not that we have an oddity.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 42:08
Public-sector borrowers have not managed their balance sheets well.
“the public has not”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 43:32
Public finances should shift from recession deficits to post-recession primary surpluses.
“what we should expect on the public side is that the primary deficit is that we run deficits when we have a recession. because we're going to have counter-cyclical fiscal policy. And then what happens is that once we come out of that, then we're going to use a primary surplus. So we're not getting that.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 44:13
Governments are not returning to primary surpluses after recessions.
“we're not getting that.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 44:37
Hedge-fund expectation changes could cause large bond-market moves either direction.
“there's a greater likelihood that if they change their expectations, we can have a big fallout or a big rally. It could go both ways.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 46:56
Greater Treasury issuance reduces the convenience yield of government bonds.
“when the government, such as U.S. Treasury, continues to issue more and more Treasury debt. then the supply of what is perceived as a safe asset increases by more and more. And that means the convenience yield is going to be shrunk.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 48:28
Increasing Treasury supply reduces the convenience yield of safe assets.
“the convenience yield is going to be shrunk.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 48:44
Dollar dominance is weakening as reserve holdings become more multipolar.
“the dollar regime is breaking, and there's more of, we'll call it, multipolarity”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 49:44
The relative convenience yield of Treasuries and the dollar is diminishing.
“what we're seeing is that the convenience yield of treasuries and the convenience yield for the reserve currency of the dollar, it may not be in jeopardy, but on a relative basis, it's being diminished.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 50:06
Geoeconomic fragmentation increases market diversification and decoupling.
“if the world becomes more fragmented and dislocated, we should sort of see the diversification increases in markets. Markets are going to become more decoupled.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 54:28
Geoeconomic fragmentation increases diversification across markets.
“If we have more fragmentation, then you say you're going to get more diversification across markets.”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 55:03
Reduced fragmentation increases market correlations.
“If there's less fragmentation, then what we're going to sort of say that, okay, markets become more correlated”
Open the episode · SI423: Why Trend Following Might Outlast the AI Arms Race ft. Mark RzepczynskiListen at 55:10
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.