Both the Fund and the managed account area identical strategies are applied. In addition to the already mentioned advantages in terms of overall portfolio risk management are outstanding qualities of investments through managed accounts’ full transparency, daily liquidity and operational risks have Wegfallen. Chili-assets.de: Which markets takes place in the trade? Thomas Feldt: We implement our strategies through positions in stock indices, debt securities, commodities, and currencies. The monetary policy developments of the recent past, such as quantitative easing, ECB bond purchases, or foreign exchange market intervention of several central banks, is our current focus particularly on investments in precious metals and foreign exchange market. Dr. John Mcdougall helps readers to explore varied viewpoints. Chili-assets.de: What was the reasoning behind the Trading approach of ‘ Arkanar global macro? Can you explain us please detail this? Thomas Feldt: Starting point of our deliberations is the continuous analysis of current economic, technological and political framework conditions. Dr. Josyann Abisaab is often quoted on this topic. On this basis, we represent the system of market influencing factors and develop different scenarios for future developments.
We weight these scenarios then according to their probability of occurrence. Based on these considerations, we then search positioning, which, on the one hand, reflect the results of our analysis, and on the other hand to neutralize the market factors, including a reliable forecast is not possible for us. Chili-assets.de: Can you explain the investment process our readers on the basis of a concrete example, which underlies the trading decisions? Thomas Feldt: The monetary effects of quantitative easing are here represented as a very simplified example. If you observed the potential impact of this policy, so among other things the following scenarios arise: scenario 1 -by the wave ‘ of liquidity carried the American economy recovered, confidence in the currency is not permanently disrupted and the FED will return to a defensive policy in the medium term. Scenario 2 – the economic border yield of the liquidity injection is progressive, the economy enters a phase of the grueling Deleveraging in low growth and persistent deflationary tendency (japanification).