TTU131: How CTAs manage their Cash ft. Mike Kastner, Co-Founder of Halyard Asset Management

Today, we are joined by Mike Kastner, Principle and Co-Founder at Halyard Asset Management, for a conversation on how they use fixed income instruments to manage the cash of many CTA portfolios. We discuss how managers have evolved in terms of the way they manage cash, how Halyard Asset Management construct a portfolio from a liquidity point of view and the current state of liquidity, how they approach credit rating and why they avoid buying paper from certain banks. We also unpack what they think the sweet spot for foreign exchange hedging is and how they approach risk management, why Kastner does not believe we are approaching a recession and that there is a likely chance of a significant fall in the long bond price, as well as what Kastner believes will happen in the housing market and much more. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to [email protected] Follow Niels & Alan on Twitter: @TopTradersLive & @AlanJDunne And please share this episode with a like-minded friend and leave an honest rating & review on iTunes, Spotify or Amazon so more people can discover the podcast.