He Built the Fund He'd Hold 30 Years | Eric Crittenden on What Investors Pick When Labels Come Off

Eric Crittenden joins Matt Zeigler and Jason Buck for a deep dive into trend following and managed futures.They discuss why systematic macro trend investing works, how risk transfer creates a return premium, and how trend can fit inside a diversified all-weather portfolio.Standpoint Fundshttps://www.standpointfunds.com/Topics covered:Why trend following can struggle during fast reversals and thrive after regime shiftsHow systematic investors manage whipsaws, drawdowns, and emotional pressureThe trade-offs between short-term, medium-term, and long-term trend signalsWhy Eric prefers simple, durable systems over complex models and constant tinkeringWhen it makes sense to remove a futures market from a systematic portfolioWhy trend following may earn a risk transfer premium from hedgers and commercial usersHow copper producers, options markets, and insurance help explain trend following returnsWhy rising interest rates and short bond positions can benefit managed futuresHow trend following can pair with global equities in an all-weather portfolioWhy smoothing a trend strategy can reduce its value when investors need convexity mostThe behavioral challenge of holding diversifiers that look wrong at the wrong timeWhy investors and advisors often want alternatives but struggle to stick with themTimestamps:00:00 Why trend following opportunities appear under pressure04:39 Pro-growth positioning before the whipsaw09:32 Short-term vs long-term trend signals13:46 The danger of tinkering with systematic strategies18:43 What actually changes in a durable process23:27 Rising rates, short bonds, and collateral yield28:00 Copper hedging and why trend followers buy rising prices32:00 Options, insurance, and risk transfer through time36:28 Regime shifts and supply-demand imbalances41:00 What investors choose when asset classes are anonymized45:11 Building a portfolio for 30-year terminal wealth50:06 Why portfolio construction is different than judging individual strategies56:15 Why trend following and value investing require faith01:00:42 Reducing errors vs chasing highlight-reel winners01:05:36 Where to follow Eric and Standpoint