Charlie Morris MSTA

Chief Investment Officer, ByteTree Asset Management

Charlie Morris is the chief investment officer at ByteTree Asset Management (BTAM). He is a lead portfolio manager and develops both crypto and traditional investment strategies for BTAM. He has 23 years’ experience in fund management, where he has built a reputation for managing actively managed, multi-asset portfolios, with an emphasis on efficient diversification and risk management. Although well versed in traditional asset classes, Charlie is best known for his expertise in alternative assets, notably gold and Bitcoin.

His interest in gold dates back to the late 1990s; a time when it was a long-forgotten and widely ridiculed asset class. He developed a gold regime model in 2010 and a gold valuation model in 2013. This work has been published by the World Gold Council and the London Bullion Metals Association (LBMA). Charlie’s views on gold have been recorded in “Atlas Pulse”. He has an enviable track record in the gold market calling for a bear market in early 2013, and a bull in December 2018.

His interest in Bitcoin came about in 2013. He recognised that its value would be linked to the network effect, and in a plight to understand the network activity, he founded the parent company, Crypto Composite Ltd (Bytetree.com) along with Mark Griffiths. By collecting real-time blockchain data, he built regime and valuation models for Bitcoin, not dissimilar to his approach to gold. The longer-term aim was to build a world class crypto data platform. He was a vocal bull in Atlas Pulse in 2015, when the price of Bitcoin was a little over $200. You can follow his more recent thoughts in the ByteTree Insights where he writes a weekly column.

In previous roles, Charlie was the head of Multi Asset at Atlantic House Fund Management until June 2020, where he managed Total Return Fund. At the time of his departure, his fund ranked 1st out of 47 funds in the Trustnet multi-asset, absolute return sector. Before that, he was the Chief Investment Officer at Newscape (2016 to 2018) and the Head of Absolute Return at HSBC Global Asset Management until (1998 to 2015) where managed $3bn of assets.

Prior to fund management, Charlie was an officer in the Grenadier Guards, British Army. Charlie is also the editor of the leading UK investment newsletter, The Fleet Street Letter (est 1938) since 2015. While not working, he can often be found somewhere in the North Sea.

STA Monthly Meeting & Christmas Party – December 2012 Strategic and Tactical Allocation to Gold

Charlie will discuss his thoughts on the strategic and tactical allocation to gold. There are six strategies, of which five could be described as technical. He will give an applied example (in this case gold) how a flexible model can be constructed using a range of different parameters. The aim is to identify a bull market with longer term models and then position size using tactical models. The final result is an efficient portfolio with a strong attention to risk and reward without over trading. Not one model analyses the gold price in dollars.

STA Monthly Meeting – May 2010 Trend Following – not always what it seems

Charlie last spoke to the STA 2007 about relative strength. At that time, his equity fund had returned 30% in 2007, which was 20% ahead of the market with lower volatility. In 2008, however, the reverse occurred and momentum strategies had their worst year in a generation. Charlie will discuss his experiences; his past successes and failures, with the intent to help the audience better understand the strengths and weaknesses of technical analysis. He will also explain his “five styles” investment process whereby each style requires an entirely different investment approach. Whilst two styles embrace technicals, one is agnostic and the other two shun it.

STA Monthly Meeting April 2006 Technical Analysis in Fund Management

Prior to joining HSBC in 1998, Charles was in the Army, which instilled many of the essential disciplines for successful and consistent fund management. Although Technical Analysis is normally associated with market timing and trading, in order to make it more relevant within fund management, the objectives need to be altered. Stock selection and asset allocation are more important than market timing, and Charles will argue that, contrary to popular belief, technical analysis serves the former better than the latter.

Obviously, the generation of returns above the index is needed to justify an active fund manager’s existence, and a technical fund cannot live in isolation from this fact, and hide behind absolute return or trading. Charles will discuss the investment process behind the HSBC Global Trend Fund, with insights into currency-adjusted price relative (CAPR), trend following, contrarian investing, asset allocation and risk management.

Videos STA Meeting December 2012 – Charles Morris

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