Too Big To Fail - Finanza personale a 3 voci Andrew Beer: Managed Futures e DBMFE (EP. 89 Special)
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Mar 23, 2026 
Andrew Beer, investitore quantitativo e creatore dell'ETF DBMF, spiega l’origine dell’idea e la logica dietro i managed futures. Si parla di trend following, replicazione degli hedge fund a basso costo e di come queste strategie possano diversificare oltre il 60/40. Discussioni su implementazione, robustezza del modello e versioni europee dell’ETF.
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Allocator Who Added Bonds Into Inflation
- Beer recalls a 2021 allocator who, fearing inflation, sold stocks and bought bonds because their mandate forced a 60/40 allocation.
- That example shows institutional inertia can make portfolios move wrong at the worst time.
Add Managed Futures To Hedge Regime Shifts
- Add managed futures to diversify stocks and bonds because they can outperform when inflation returns and bonds struggle.
- Beer recommends it as the single best diversifier for portfolios facing regime change like 2022.
Replication Extracts Hedge Fund Signals Cheaply
- DBMF implements hedge fund replication: weekly syntheses of large CTA funds' exposures to cheaply extract the signal.
- Beer explains replication simplifies many small, costly hedge fund trades into a few efficient positions to capture most returns.