Going it alone: Lombard Odier steers clear of investing crowd
Research head Tabachnik says strategies like intraday momentum are victims of their own popularity
If Covid-19 has taught investors anything, it’s to avoid a crowd.
During the crisis, intraday momentum became the go-to quantitative trading strategy, delivering 23% in the March 2020 selloff for those who deployed it.
But the strategy may be losing its edge, says Serge Tabachnik, head of multi-asset research at Lombard Odier Investment Managers, the asset management arm of the Swiss private bank.
“There’s been a clear decay in carry performance,” says Tabachnik.
Between 2012 and February
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