The 6-Year Test 10,000 Tickers Failed: with Eric Crittenden of Standpoint Funds

<p>In this episode of <em>The Derivative</em>, host Jeff Malec welcomes back Standpoint Asset Management founder and CIO Eric Crittenden for his third appearance, diving into what’s happened since Standpoint launched in 2019 and why their approach has remained unchanged. Eric explains why he resists the industry’s obsession with “constant innovation,” favoring disciplined stability in his trend-following and multi-asset process, and how the past six years, from COVID to fast crashes and energy shocks, have stress-tested both his risk management and investor behavior.</p><p>Jeff and Eric dig into the “abandonment problem” in advisor portfolios: why investors love managed futures when they’re hot but struggle to stick with them, and how combining global equity beta with trend-following in one vehicle can make diversification more holdable. Eric outlines three simple metrics advisors say they want, beat a 60/40, lower volatility, and low equity beta, and reveals how few of the 11,000+ funds available at launch delivered on that promise.</p><p>The conversation also covers replication, capacity and market selection, correlation myths, and why Eric prefers trend plus cap-weighted equities over bonds for long-term compounding. They close with thoughts on AI, product structures, and how categorization and reporting frameworks can work against good investor outcomes.</p><p><br><strong>Chapters:</strong></p><p><strong>00:00-01:12=Intro</strong></p><p><strong>01:13-11:41=Stable Strategy in a Chaotic Market: Standpoint’s Six-Year Stress Test</strong></p><p><strong>11:42–17:33 = Replicators vs Originals: The Trade‑Offs of Cloning Managed Futures</strong></p><p><strong>17:34–31:13 = When Trend and Stocks Both Hurt: Correlation, Drawdowns, and Knowing When It’s Broken</strong></p><p><strong>31:13–49:46 = Beating 60/40 and the Bucket Problem: Why True Diversifiers Are So Rare</strong></p><p><strong>49:47–57:34 = Buckets, Burritos, and the Sausage Problem: Making Diversification Holdable</strong></p><p><strong>57:35–01:06:41 = Where Standpoint Fits: Liquid Alts, Multi-Asset Overlay, and Rethinking Bonds</strong></p><p><br></p><p><strong>From the episode:</strong></p><p><a href="https://www.rcmalternatives.com/for-investors/liquid-alternatives/"><strong>Liquid Alternatives - RCM Alternatives</strong></a></p><p><strong>Previous episodes with Standpoint</strong></p><p><a href="https://www.rcmalternatives.com/2020/07/blndxing-trend-following-and-global-equity-standpoint-eric-crittenden-the-derivative/"><strong>BLNDX[ing] Trend Following and Global Equity with Standpoint’s Eric Crittenden on The Derivative</strong></a></p><p><a href="https://www.rcmalternatives.com/2022/09/trends-inflation-protection-getting-investors-to-the-finish-line-with-eric-crittenden-of-standpoint/"><strong>Trends, Inflation Protection, &amp; Getting Investors to the Finish Line with Eric Crittenden of Standpoint</strong></a></p><p><br></p><p><br><a href="https://www.linkedin.com/in/eric-crittenden-b344b71/" target="_blank" rel="noopener noreferer"><br></a><br><a href="https://www.linkedin.com/company/standpoint-asset-management/" target="_blank" rel="noopener noreferer"><br></a><br><a href="https://www.standpointfunds.com/" target="_blank" rel="noopener noreferer"><br></a><br></p><p>Don&#39;t forget to subscribe to<a href="https://www.rcmalternatives.com/the-derivative-podcast/">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Derivative⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>, follow us on Twitter at<a href="https://twitter.com/rcmAlts">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a> and<a href="https://info.rcmalternatives.com/get-our-blog-alternatives">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠