David Harding
Showing 1–3 of 3 transcripts.
- Goldman Sachs13 min
David Harding: The Future of Quantitative Investing
William Harding challenges the trend-following orthodoxy and public hype surrounding artificial intelligence while grounding his firm's strategy in extensive historical data analysis stretching back to 1919. He prioritizes organizational resilience by balancing the conflicting interests of stakeholders, maintaining low leverage, and preparing for catastrophic drawdowns that exceed standard probabilistic models. This approach validates Winton's long-term conviction that quantitative modeling offers a robust, non-controversial solution to market volatility without relying on speculative technologies.
- Milken Institute1h 8m
Global Capital Markets: Deflation or Stabilization?
Thomas Finke, Afsaneh Beschloss, Mohamed El-Erian, David Harding, Joseph Hooley, Steven Tananbaum, Tom Fink, Jay Holey
Panelists including Jay Holey, Mohammed Al-Arain, and Steve Tannenbaum analyzed the global economy's structural slowdown and the divergent trajectories of advanced and emerging markets, noting that while central banks face policy limits, emerging economies retain fiscal capacity for growth. The discussion highlighted China's critical transition from an export-led model to a consumption-driven one, alongside the disruptive impact of fintech and digital platforms on traditional productivity metrics and banking infrastructure. Despite near-term political uncertainties like Brexit and anti-establishment movements, experts identified specific investment opportunities in distressed credit, quasi-sovereign bonds, and sectors combining digital innovation with unique content.
- Milken Institute1h 12m
Follow the Flow: How Asset Management Is Reshaping the Global Financial System
Eric Schatzker, Jess Staley, John Chervam, Jeff Gundlach, David Harding, Kent Clark
A panel of industry leaders and regulators discussed the accelerating consolidation of asset managers, where firms face strategic divergence between pursuing scale to access exclusive deal flow or capping assets to preserve performance quality. The discussion highlighted critical systemic risks emerging from liquidity mismatches, the displacement of bank credit intermediation by asset managers, and the potential dangers of negative rates and "unconstrained" strategies in an oversaturated market. Experts concluded that while market stress tests like the energy sector repricing have shown resilience, the next crisis will likely stem from currently logical assumptions regarding risk and capital preservation.