Bill Gebhardt - Replicating Discretionary Commodity Trading Systematically (S7E9)

Speaker 0: Hey everyone. Corey here. Thanks for tuning in to another episode of Flirting With Models. If you're enjoying the show, I'd greatly appreciate it if you'd take a moment to rate, review, and most importantly, share with a friend. Word-of-mouth is how this podcast grows.

And if you'd like to learn more about Newfound's platform of return stacked mutual funds, ETFs, and model portfolios, head over to returnstacks.com. Now on with the show. Okay. Bill, are you ready?

Speaker 1: I am ready.

Speaker 0: Alright. 321. Let's jam. Hello and welcome everyone. I'm Corey Hofstein and this is Flirting with Models, the podcast that pulls back the curtain to discover the human factor behind the quantitative strategy.

Speaker 2: Corey Hofstein is the cofounder and chief investment officer of Newfound Research. Due to industry regulations, he will not discuss any of Newfound Research's funds on this podcast. All opinions expressed by podcast participants are solely their own opinion and do not reflect the opinion of Newfound Research. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Newfound Research may maintain positions and securities discussed in this podcast.

For more information, visit think newfound.com.

Speaker 0: In this episode, I speak with Bill Gebhardt, founder of 10 Dynamics. Bill spent the better part of his career as a discretionary energies trader with roles at Koch Industries, Merrill Lynch, Deutsche Bank, and Trailstone. In May 2020, he struck out on his own to cofound 10 Dynamics. Given Bill's fundamental and discretionary background, it may come as a surprise that 10 Dynamics runs a fully systematic process. This dichotomy serves as the foundation for much of our conversation, where Bill provides insight into where and how his discretionary background informs the systematic proce

We discussed the types of signals 10 Dynamics incorporates into their process, how their risk management system is designed to reflect Bill's experience managing discretionary traders, and how they've designed their operational risk management to allow them to trade intraday with a small team. Please enjoy my conversation with Bill Gebhardt. Bill, welcome to the podcast. Excited to have you here. Coming at a very popular trend following strategy, very popular in the last couple of years, but from a completely unique discretionary trader angle.

So I think this is gonna bring an interesting new light to what I think most listeners would say is a well trodden topic. Hopefully, I think we're gonna get some exciting new stuff here. So thank you for joining me. Really appreciate you being here.