Ongoing uncertainties about the impact of tariffs, fragile macro data, escalating geopolitical tensions, expectations of AI-driven productivity gains, are shaping the current market outlook. Risk assets (equities) continue to recover from their April dive, and safe havens (gold) are hitting record levels. In this shifting environment, portfolios that are flexible, uncorrelated, and actively managed are proving their worth.

In this webinar, David Friche explains why the CB Global Trading Portfolio nevertheless keeps smiling (see the convex, option-like chart) – and how it consistently converts market dislocations into performance, driven by active macro trading and a highly selective portfolio of directional strategies.

Key topics include:

• How do convex strategies generate alpha when markets move in either direction?

• Why is a macro-driven, low-correlation approach particularly relevant now?

• How has the portfolio delivered positive returns in the worst months for equities and bonds?