Technical Analysis Strategies and Market Outlook for 2023

In this episode, Rusty and Robyn talk with David Lundgren, Founder and Chief Market Strategist at MOTR Capital Management and Research. David is a 30-year investment industry veteran focusing on technical analysis strategies, particularly momentum and trend following. He is the former Director of Technical Research at Wellington Management and held senior analyst positions at Fidelity & Thomson Financial. With a demonstrated history of working in the investment management industry, David talks about technical analysis, momentum and trend following, and his outlook for stocks, bonds, cryptocurrencies, and commodities for 2023.

Key Takeaways

[04:29] – David’s career history in the investment management industry.
[07:54] – How David defines technical analysis.
[10:48] – What it takes to be a successful technical analyst.
[12:21] – The strengths and weaknesses of technical analysis.
[14:45] – The different schools of thought in technical analysis.
[17:11] – What to do when trend following fails.
[19:42] – The best allocation of trend following and technical analysis in a portfolio.
[23:41] – How a CMT differs from a CFA.
[26:09] – What is the CMT Association?
[27:21] – A sneak peek at this year’s CMT Symposium.
[28:57] – The top charts to watch in 2023.
[31:38] – How David’s multiframework approach works.
[33:06] – Among David’s favorite equity stocks for 2023.
[35:48] – David’s outlook for the bond market.
[39:27] – What Dave thinks about bitcoin and cryptocurrencies.
[43:13] – David’s favorite investment idea for 2023.
[45:25] – How David maintains his energy to perform at a high level.
[47:31] – The people David is thankful for professionally.
[49:07] – David’s recommendations for content.

Quotes [08:18] – “Most money managers are schooled in the principles of fundamental analysis, capital asset pricing theory, dividend discount models, and other traditional fundamental analysis techniques. Unfortunately, almost 90% of active managers underperform their benchmark using the tools they learn in business school.” ~ David Lundgren

[09:30] – “The market is the best fundamental analyst on the planet. Listen to what the market’s trying to tell. And the best way to do that is to identify trend change and stay with the trend as long as the trend changes and goes in the other direction.” ~ David Lundgren

[26:58] – “There’s a big hole in the body of knowledge of most investors, which contributes to their difficulty in keeping pace with the benchmark. That hole can be filled with a better understanding of technical analysis.” ~ David Lundgren

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