Top Traders Unplugged

Top Traders Unplugged

Niels Kaastrup-Larsen

Discover the fascinating world of investing with Niels Kaastrup-Larsen and his remarkable co-hosts. Each week, we bring you compelling conversations with legendary investors, leading economists, masterful traders, and forward-thinking thought leaders. From Trend Following and Global Macro to Geo-Politics, Commodities, Quant Investing, Crypto, and Volatility, we uncover the strategies, stories, and lessons behind their success. Gain actionable insights from industry veterans as we celebrate their achievements and learn from their challenges. Stay ahead in the ever-evolving landscape of investing - tune in weekly and elevate your financial knowledge. For the latest episodes and expert insights, visit https://toptradersunplugged.com

OI14: Behind the Scenes of a Crypto Hedge Fund ft. Michael Hall & Anatoly Crachlilov

OI14: Behind the Scenes of a Crypto Hedge Fund ft. Michael Hall & Anatoly Crachlilov

In this episode, Moritz Seibert speaks with Anatoly Crachilov and Michaell Hall from Nickel Digital, a prominent London-based crypto hedge fund. Anatoly (CEO) and Michael (CIO) founded the company in 2019 with an initial focus on in-house arbitrage and basis trading strategies. Over the years, their business model has evolved and adapted to the fast-changing world of digital assets. Today, Nickel Digital operates as a multi-strategy, multi-manager setup with more than $250 million in AUM, making

Feb 19, • 1:07:10

SI335: Trend Following or Mean Reversion: What Works Best When? ft. Rob Carver

SI335: Trend Following or Mean Reversion: What Works Best When? ft. Rob Carver

Join us for a fascinating and in-depth conversation with Rob Carver, where we’ll discuss the current state of gold, the impact of rising borrowing costs on futures pricing, and how these elements intertwine with market trends. Along the way, we’ll tackle listener questions that challenge the status quo, digging into everything from fees in the hedge fund world to the implications of recent political shifts. It's a jam-packed session for anyone looking to get a clearer picture of the investment l

Feb 15, • 1:24:36

ALO28: Why Hedge Funds Still Matter ft. Alexander de Bruin

ALO28: Why Hedge Funds Still Matter ft. Alexander de Bruin

In this episode, Alexander de Bruin, Head of Fund Research at Edmond de Rothschild, joins Alan Dunne to discuss the art and science of selecting managers and building portfolios of alternatives. Alexander shares insights from his background in convertible bond trading and how it has shaped his approach to allocating capital. The conversation explores the rapid growth of private markets, with a focus on the current opportunities in private credit. They also delve into Alexander's framework for c

Feb 12, • 1:00:06

SI334: Why Quants Might Be Your Best Bet ft. Nick Baltas

SI334: Why Quants Might Be Your Best Bet ft. Nick Baltas

Together with Nick Baltas, we're diving deep into systematic investing to discuss why strategies like trend following is a hidden gem in the current (crazy) economic and geo-political landscape. We touch on recent trends, the implications of AI in investing, and how these dynamics can impact our portfolios. We also discuss the costs of rebalancing and the potential pitfalls when it comes to fixed-weight portfolios, how the trust in the financial system and economic data is starting to fade rapid

Feb 8, • 58:29

ALO27: Unlocking Wealth: Insights from UBS's CIO Mark Haefele

ALO27: Unlocking Wealth: Insights from UBS's CIO Mark Haefele

Mark Haefele, CIO of Global Wealth Management at UBS, shares valuable insights on the evolving landscape of investing amidst unprecedented government intervention in the economy. He emphasizes that understanding the role of government spending and its impact on market dynamics is crucial for today's investors. The conversation explores the distinction between managing wealth and managing investments, highlighting the importance of adopting a mindset of abundance rather than scarcity. Haefele als

Feb 5, • 1:02:39

SI333: Convexity - The Trend Following Game Changer! ft. Richard Brennan

SI333: Convexity - The Trend Following Game Changer! ft. Richard Brennan

Most investors focus on returns, but what about the shape of those returns? Today, Rich and I explore the often overlooked concept of convexity - a game-changing principle in trend following that helps us thrive in unpredictable markets. Inspired by insights from our recent guest, Dave Dredge, we break down why mastering convexity is key to cutting losses early, riding big winners, and staying ahead of market turbulence.If you’re serious about protecting and growing your portfoli - while making

Feb 1, • 1:12:55

GM79: How Global Economic Dynamics Shape Our Future ft. Matthew Klein

GM79: How Global Economic Dynamics Shape Our Future ft. Matthew Klein

Today, we explore the intricate dynamics of global trade and economics, highlighting the central thesis of Matt Klein's book, "Trade Wars or Class Wars." Klein argues that the common perception of trade as a zero-sum game is fundamentally flawed; instead, he emphasizes that positive-sum solutions exist, benefiting all parties involved. The conversation explores the impact of internal dynamics within countries, particularly focusing on how these dynamics affect international relations and economi

Jan 29, • 1:01:59

SI332: Market Turbulence: How to Adapt to Regime Changes in Investing ft. Alan Dunne & Mark Rzepczynski

SI332: Market Turbulence: How to Adapt to Regime Changes in Investing ft. Alan Dunne & Mark Rzepczynski

Today, we explore the complexities of current market dynamics, emphasizing the heightened levels of uncertainty stemming from recent regime changes. Mark Rzepczynski shares insights on how this uncertainty can influence investment behavior and market trends, highlighting the importance for investors to adapt their strategies in response to these shifts. The discussion touches on the implications of fluctuating correlations and volatility, particularly for systematic and trend-following strategie

Jan 25, • 1:05:15

GM78: Is this 1995 all over again? ft. Dave Dredge & Cem Karsan

GM78: Is this 1995 all over again? ft. Dave Dredge & Cem Karsan

Today, we take you into the complexities of the current financial landscape, emphasizing the crucial theme of positioning in an environment marked by rising interest rates and shifting market dynamics. We explore how recent structured product issuance is significantly impacting market structure, particularly in the U.S., where the volume of callable bonds and equity-linked products has surged. They highlight the risks associated with reliance on historical correlations, which may not hold in tim

Jan 22, • 1:31:35

SI331: Crafting the Perfect Investment Portfolio in 2025 ft. Alan Dunne

SI331: Crafting the Perfect Investment Portfolio in 2025 ft. Alan Dunne

Today, we dive deep into the evolving landscape of investment strategies, emphasizing the critical need for diversification in portfolios. With a particular focus on the German economy's challenges, we highlight how geopolitical factors and shifting market dynamics are reshaping investment approaches. We explore the potential implications of rising bond yields and the importance of incorporating trend-following strategies to mitigate risks associated with traditional asset classes. We also touch

Jan 18, • 1:05:39

OI13: The Art of Continuous Trading: Mastering Market Dynamics ft. Bill Gebhardt

OI13: The Art of Continuous Trading: Mastering Market Dynamics ft. Bill Gebhardt

Bill Gebhardt from 10Dynamics discusses the intriguing intersection of market efficiency and systematic trading strategies. He emphasizes the idea that while traditional views suggest markets are efficient, many hedge funds continue to find success using price-based strategies that should theoretically not work. This paradox leads to a fascinating exploration of the psychological aspects of trading, particularly how human behavior can create opportunities for systematic traders. Gebhardt shar

Jan 15, • 48:04

SI330: Yield Storm Ahead: Preparing for a New Era ft. Cem Karsan

SI330: Yield Storm Ahead: Preparing for a New Era ft. Cem Karsan

Together with Cem Karsan we take the pulse of the evolving landscape investors are faced with amidst rising interest rates and market volatility. A key takeaway is the recognition of structural changes in bond markets, with the potential for significantly higher yields impacting investment strategies. We explore the implications of current geopolitical dynamics, including Trump's perhaps surprising approach to China, his expansionary agenda and how it may shape market expectations moving forwar

Jan 11, • 1:01:24

TTU147: How to Craft a Rich Life Beyond Money ft. William Green

TTU147: How to Craft a Rich Life Beyond Money ft. William Green

William Green, author of the book "Richer, Wiser, Happier", returns to the podcast for an eye opening conversation centered around the complexities of investing and the importance of building a rich life beyond mere financial success. We explore the idea that true wealth encompasses autonomy, meaningful relationships, and personal growth, rather than just monetary accumulation. Throughout the discussion, William shares lessons learned from interviewing some of the greatest investors, emphasizing

Jan 8, • 1:44:56

SI329: CTAs: Innovation Meets Legacy & the BlackRock Effect ft. Andrew Beer & Tom Wrobel

SI329: CTAs: Innovation Meets Legacy & the BlackRock Effect ft. Andrew Beer & Tom Wrobel

Together with Andrew Beer and Tom Wrobel, we dive deep into the evolving landscape of managed futures and CTAs, highlighting the critical need for a narrative shift to better communicate their value to investors. Andrew and Tom discuss the challenges faced by allocators in understanding the unique benefits of trend-following strategies, especially amidst a backdrop of changing market dynamics. They explore the implications of BlackRock's recent move to launch an actively managed manager ETF, whi

Jan 4, • 1:28:14

IL34: Democratizing Data: A New Approach for Trustworthy Information ft. Julia Lane

IL34: Democratizing Data: A New Approach for Trustworthy Information ft. Julia Lane

Our guest on this episode is Dr. Julia Lane, Professor at New York University and author of the book Democratizing Our Data: A Manifesto. Dr. Lane is a member of the National AI Research Resource Task Force and has advised the White House on promoting the use of Federal data for evidence building. She believes that the US system collecting data is outdated, inaccurate and unable to reform itself. This includes the data that goes into measures like GDP and unemployment. The current system is also

Jan 1, • 42:54

SI328: Year-End Roundtable: The Future of Trend Following and Market Dynamics (Part 2)

SI328: Year-End Roundtable: The Future of Trend Following and Market Dynamics (Part 2)

Join us for Part 2 of our Year-End discussion between all of the hosts on the Systematic Investor Series where we debate the trends and themes shaping the investment landscape heading into 2025. The episode highlights the significance of social media and podcasts in increasing awareness of systematic investment strategies, as well as the challenges posed by evolving market dynamics. Key topics include the role of the U.S. dollar under the new Trump administration, the impact of trend-following s

Dec 28, 2024 • 1:06:48

OI12: Breaking Rules: Going Beyond Traditional Trend Following ft. Tillmann Sachs & Vishal Sharma

OI12: Breaking Rules: Going Beyond Traditional Trend Following ft. Tillmann Sachs & Vishal Sharma

In this episode, Moritz Seibert speaks with Tillmann Sachs and Vishal Sharma from J8 Capital Management, a systematic London-based CTA. The main focus of their discussion is J8’s Global Absolute Return Strategy, which trades several different systems across markets and styles, including carry, arbitrage, and trend following. We also speak about their latest addition to this portfolio, namely the Redwood strategy, which is a short-term model trading some of the world’s most liquid futures marke

Dec 25, 2024 • 51:29

SI327: 2024's Biggest Investment & Trend Following Insights (Part 1)

SI327: 2024's Biggest Investment & Trend Following Insights (Part 1)

This part 1 of 2 episode features a compelling roundtable discussion among all of our incredible co-hosts here at TopTradersUnplugged, where we reflect on the key takeaways of 2024. The main focus is on the significant return dispersion observed in the trend-following community throughout 2024, where performance varied dramatically among managers. We explore the factors contributing to this dispersion, such as differences in speed, market universe, and the impact of discretionary de-risking stra

Dec 21, 2024 • 58:46

GM77: Unlocking the Roaring 2020s: Is Bitcoin the New Gold? ft. Ed Yardeni

GM77: Unlocking the Roaring 2020s: Is Bitcoin the New Gold? ft. Ed Yardeni

Ed Yardeni, President of Yardeni Research, joins Alan Dunne in this episode to review his Roaring 2020s thesis for the US economy. Ed makes a compelling case for sustained economic growth, driven by rising productivity gains fuelled by technological advancements. The discussion covers expectations for the policy mix under the incoming Trump administration, including how fiscal developments could influence the Federal Reserve's actions. The conversation also examines developments in the bond mar

Dec 18, 2024 • 59:04

SI326: Volatility and Trends: What 2024 Held for Trend Followers ft. Katy Kaminski

SI326: Volatility and Trends: What 2024 Held for Trend Followers ft. Katy Kaminski

Today, we examine the intriguing dynamics of systematic investing, focusing on the theme of volatility sizing and its implications for trend following strategies. We discuss how volatility often expands during profitable trades, highlighting the importance of managing risk through dynamic sizing compared to static approaches. We explore the interplay between equities and managed futures, emphasizing how these strategies can complement each other while navigating the complexities of correlation r

Dec 13, 2024 • 1:00:20

GM76: Are We Being Deceived by Economic Data? ft. Paul Donovan

GM76: Are We Being Deceived by Economic Data? ft. Paul Donovan

Alan Dunne welcomes Paul Donovan, Chief Economist of UBS Global Wealth Management, to this episode for a thought-provoking discussion on the global economic outlook. Together, they explore the structural challenges facing Europe and whether the current wave of pessimism is overstated. Paul highlights how data mismeasurement contributes to the gap between perception and reality while acknowledging the hurdles for productivity growth in Europe. They also consider whether comparisons between Europe

Dec 11, 2024 • 1:04:55

SI325: Why Adaptive Strategies Matter Now More Than Ever ft. Graham Robertson

SI325: Why Adaptive Strategies Matter Now More Than Ever ft. Graham Robertson

Today, together with Graham Robertson of MAN AHL, we delve into the intriguing dynamics of trend following and its relationship with current market conditions, particularly influenced by central bank actions. We examine how trend followers have navigated recent volatility and the challenges posed by fluctuating interest rate expectations. We highlight the significance of understanding correlation trends among different asset classes and the importance of diversifying strategies in enhancing port

Dec 7, 2024 • 1:02:14

IL33: The Soul of Wealth: Behavioral Secrets to a Purposeful Life ft. Daniel Crosby

IL33: The Soul of Wealth: Behavioral Secrets to a Purposeful Life ft. Daniel Crosby

Our guest on this episode is Dr. Daniel Crosby, New York Times bestselling author and Chief Behavioral Officer at Orion Advisor Solutions. Daniel joins us to discuss his new book - The Soul of Wealth: 50 Reflections on Money and Meaning. We discuss simple actions everyone can take to apply the lessons of behavioral finance to their own investing - actions that have a shockingly large impact on wealth accumulation. Daniel talks about why even the most experienced professional investors might bene

Dec 4, 2024 • 55:22

SI324: Embracing Uncertainty using Adaptive Models ft. Richard Brennan

SI324: Embracing Uncertainty using Adaptive Models ft. Richard Brennan

Today, we dive deep into the complex dynamics of global markets and the often overlooked risks that can accumulate during periods of apparent stability. Together with Richard Brennan, we discuss the rising concerns over declining fertility rates worldwide, highlighting how economic pressures, environmental challenges, and cultural shifts contribute to this seismic change. We draw parallels between these demographic trends and the unpredictability of financial markets, emphasizing the importance

Nov 30, 2024 • 1:09:14

GM75: Macro Mastery: The Hedgeye Approach ft. Keith McCullough

GM75: Macro Mastery: The Hedgeye Approach ft. Keith McCullough

Keith McCullough, Founder and CEO of Hedgeye Risk Management, joins Alan Dunne in this episode for an in-depth look into Keith’s distinctive approach to global macro analysis and tactical trading. The conversation explores Keith’s background as a hedge fund manager and his views on how markets have evolved, especially in relation to option flows. Keith breaks down his four-quadrant framework for macro analysis, explaining how pinpointing the economy’s position within these quadrants is as much a

Nov 27, 2024 • 1:02:42

SI323: From Politics to Profits: How Regime Changes Affect Your Portfolio ft. Cem Karsan

SI323: From Politics to Profits: How Regime Changes Affect Your Portfolio ft. Cem Karsan

Together with Cem Karsan we explore the current investment landscape, with a particular emphasis on the volatility and dispersion of market correlations as we approach the end of the year. We discuss how a compression of volatility at the index level can lead to increased idiosyncratic risk for individual stocks, creating opportunities for savvy investors. We explore the implications of regime shifts and how geopolitical factors, particularly related to the new U.S. administration, could influen

Nov 23, 2024 • 1:13:05

OI11: Avoiding the Herd: A Different Path to Alpha ft. Jerome Callut

OI11: Avoiding the Herd: A Different Path to Alpha ft. Jerome Callut

In today’s episode Moritz Seibert is joined by Jerome Callut, one of the founders of DCM Systematic, a quantitative hedge fund based in Geneva, Switzerland. DCM Systematic aims to produce returns that are uncorrelated to trend following CTAs by pursuing a different path to alpha. In fact, the team around Jerome is very much focused on avoiding getting into trend following trades. Instead, they emphasize strategies which anticipate the flows of other traders and use several behavior-based models

Nov 20, 2024 • 58:02

SI322: Market Narratives and the Unpredictable Alpha ft. Mark Rzepczynski

SI322: Market Narratives and the Unpredictable Alpha ft. Mark Rzepczynski

In this episode, Mark Rzepczynski joins Alan Dunne to explore narratives, rationality, and behavioral uncertainty, particularly in the context of trend following. They discuss recent market trends in the wake of the election, with a focus on bond market movements. Mark shares insights on the current stage of the risk cycle and whether we’re witnessing an excessive buildup of leverage in the financial system. The conversation also delves into two fascinating studies: one on the significance of ha

Nov 16, 2024 • 1:07:46

IL32: Unpacking Inflation: What History Teaches Us About Today's Economy ft. Carola Binder

IL32: Unpacking Inflation: What History Teaches Us About Today's Economy ft. Carola Binder

Today we share an engaging discussion with Carola Binder, who explores the intricate relationship between inflation and democracy in the United States. Binder argues that inflation has been a crucial part of economic debate since the nation’s founding, intertwined with the political landscape and the fate of democracy itself. She highlights the significant divergence in inflation expectations between Republicans and Democrats, particularly during the Biden presidency, where rising inflation expe

Nov 13, 2024 • 54:46

SI321: Post Election - Why Trends Matter More Than Ever ft. Alan Dunne

SI321: Post Election - Why Trends Matter More Than Ever ft. Alan Dunne

Together with Alan Dunne, we delve into the shifting landscape of systematic investing, highlighting the growing use of quant based strategies as well as AI and machine learning in portfolio management. The discussion also emphasizes the significant impact of concentration within the S&P 500, with Goldman Sachs now predicting that this could lead to lower returns for traditional equity investments in the coming decade. We explore various economic themes, and note the challenges facing Europe

Nov 8, 2024 • 1:02:55

GM74: Navigating the Bond Market: What You Need to Know About Recent Trends ft. Stephen Miran

GM74: Navigating the Bond Market: What You Need to Know About Recent Trends ft. Stephen Miran

Stephen Miran, Senior Strategist at Hudson Bay Capital and Fellow at the Manhattan Institute joins Alan Dunne in this episode to explore the bond market outlook and broader economic trends. They delve into an influential paper Steve co-authored with Nouriel Roubini on Activist Treasury Issuance, examining how Treasury actions may have countered some of the Fed's monetary tightening this year. Steve shares his insights on the economy's current state, his view that the Fed may have erred with its

Nov 6, 2024 • 1:01:30

SI320: Bonds: The Voldemort of Asset Allocation ft. Andrew Beer

SI320: Bonds: The Voldemort of Asset Allocation ft. Andrew Beer

In this week’s episode, Andrew Beer joins Alan Dunne to dive into the evolution of hedge funds, mutual funds, and ETFs within the managed futures space. Andrew give his perspective on the architecture of the CTA industry from the perspective of asset raising and the role that a diverse investor base plays in shaping product offerings within the sector. The conversation explores how liquid alternative investments compare with traditional hedge funds, examining what recent performance trends revea

Nov 2, 2024 • 1:04:48

GM73: Debt, Deficits, and the Road Ahead ft. Jason Furman

GM73: Debt, Deficits, and the Road Ahead ft. Jason Furman

Jason Furman, Professor of Economics at Harvard and former Chairman of the Council of Economic Advisors under President Obama, joins Alan Dunne in this episode to share his thoughts on the current economic outlook. They explore the recent improvement in the inflation data, whether the Fed is justified in claiming victory in its inflation fight and the likely trajectory for inflation over the next year. On monetary policy, Jason expects further rate cuts from the Fed this year but is sceptical

Oct 30, 2024 • 59:13

SI319: The Surprising Factors Behind CTA Performance: Is Less More? ft. Rob Carver

SI319: The Surprising Factors Behind CTA Performance: Is Less More? ft. Rob Carver

Today, we delve into the nuances of systematic investing with Rob Carver, focusing on the concept of replication in trend-following strategies. The discussion contrasts different approaches to replication, highlighting the potential pitfalls of return-based methods that attempt to mimic established indices. We emphasize that simply increasing the number of markets in a portfolio may not lead to better diversification, as it could ultimately expose investors to similar risk factors. We also explo

Oct 25, 2024 • 1:21:33

OI10: The Untold Side of the Turtle Trading Legacy ft. Bill Eckhardt & Rob Sorrentino

OI10: The Untold Side of the Turtle Trading Legacy ft. Bill Eckhardt & Rob Sorrentino

In his first podcast episode ever, Bill Eckhardt emphasizes that successful trading hinges more on risk control than on predicting market movements, a theme that resonates throughout his conversation with Moritz Siebert and Rob Sorrentino. The episode explores Eckhardt's journey from the renowned Turtle trading experiment to his current systematic trading strategies at Eckhardt Trading Company. The conversation provides insights into the evolution of trading strategies, the importance of maintai

Oct 23, 2024 • 1:15:32

SI318: How Trend Following Changes with Interest Rates ft. Katy Kaminski

SI318: How Trend Following Changes with Interest Rates ft. Katy Kaminski

Join Katy and I as we delve into the intriguing dynamics of trend following in the context of changing interest rates. We cover how trend-following strategies can be a valuable addition to investment portfolios, especially in high-rate environments where traditional fixed income may offer diminished diversification benefits. Katy shares insights from her latest paper, which explores the performance of trend-following strategies during various economic crises, emphasizing the importance of adapta

Oct 19, 2024 • 1:02:15

GM72: China's Market Rebound: From Chaos to Opportunity ft. Louis-Vincent Gave

GM72: China's Market Rebound: From Chaos to Opportunity ft. Louis-Vincent Gave

Alan Dunne welcomes back Louis-Vincent Gave of Gavekal in this episode to delve into the Chinese economic outlook and discuss the broader macro trends. Louis shares his thoughts on whether the Chinese economy and Chinese asset markets are truly at a turning point. They examine the crisis of confidence among Chinese consumers and assess whether recent stimulus measures can help. China’s active industrial policy and desire to grow its share of global manufacturing has been a key policy pillar and

Oct 16, 2024 • 1:02:17

SI317: From Hurricanes to Hedge Strategies: The Hidden Common Factors ft. Richard Brennan

SI317: From Hurricanes to Hedge Strategies: The Hidden Common Factors ft. Richard Brennan

This episode dives deep into the intricacies of trend following strategies and their connection to complex adaptive systems. Richard Brennan and Niels Kaastrup-Larsen explore how these systems respond to market signals and the importance of boundaries in shaping investor behavior. They discuss the challenges faced by trend followers in the current market environment, particularly in October, where many strategies have encountered difficulties. The conversation touches on significant topics such

Oct 12, 2024 • 1:08:13

IL31: What Your Cashless Future Will Look Like ft. Richard Holden

IL31: What Your Cashless Future Will Look Like ft. Richard Holden

Our guest on this episode is Richard Holden, economics professor at the University of New South Wales Sydney author of a new book: Money in the 21st Century: Cheap, Mobile and Digital. Richard explains why the prospect of a private digital currency run by a company like Amazon or Google is a real possibility and why that would represent an enormous transfer of power from democratic governments to a private company. He also talks about China’s digital currency, its vast user base in China and how

Oct 9, 2024 • 58:01

SI316: Solving the "How Much" Trend Following Question ft. Nick Baltas

SI316: Solving the "How Much" Trend Following Question ft. Nick Baltas

Today we tackle the most important questions arising from the evolving landscape of systematic investing, focusing on the changing dynamics of asset allocation in the current market environment. Nick Baltas and Niels discuss the implications of rising interest rates and inflation on traditional 60/40 portfolios, questioning whether this approach remains valid. We explore the potential benefits of incorporating trend-following strategies, especially in light of recent market volatility. The conve

Oct 5, 2024 • 1:07:05

ALO26: Managing a C$600 Billion State Pension Fund ft. Amy Flikerski

ALO26: Managing a C$600 Billion State Pension Fund ft. Amy Flikerski

Amy Flikerski, Head of External Portfolio Management at CPP Investments - the C$600bn Canadian state pension fund - joins Alan Dunne in this episode to discuss allocating capital to emerging and established hedge funds. They delve into the evolution of the hedge fund industry from the perspective of an allocator and particularly how the growth of the large multi-manager multi-strats has impacted hedge fund allocating. Amy discusses the role of the External Manager Allocations in the context of

Oct 2, 2024 • 1:03:11

SI315: Preparing for a Pivotal Time in Global Markets ft. Cem Karsan

SI315: Preparing for a Pivotal Time in Global Markets ft. Cem Karsan

In this week’s episode, Cem Karsan joins Alan Dunne to discuss the interplay between market flows and global macro developments as we enter a pivotal time of year for markets. They explore the potentially favourable setup for equities in the coming weeks, driven by flow dynamics and dealer positioning, while considering how recent policy moves in China could support the near-term bullish outlook. As the U.S. election approaches, Cem outlines how different outcomes could impact policy, the econo

Sep 28, 2024 • 1:04:09

GM71: The Carry Risk Lurking in Your Portfolio ft. Kevin Coldiron

GM71: The Carry Risk Lurking in Your Portfolio ft. Kevin Coldiron

In this episode, I’m joined by Alan Dunne and Kevin Coldiron, a co-author of "The Rise of Carry", for an in-depth discussion on the recent unwinding of the Yen carry trade and a broader exploration of how carry trades are becoming more embedded in both our financial decisions and everyday lives. We revisit key insights Kevin took from his book, published in 2019, and explore where things have unfolded differently than anticipated. Kevin also breaks down how the S&P 500 might be central to th

Sep 25, 2024 • 1:05:21

SI314: Algo Anxiety... Can AI Resolve This? ft. Mark Rzepczynski

SI314: Algo Anxiety... Can AI Resolve This? ft. Mark Rzepczynski

Together with Mark Rzepczynski we dive deep into the outlook for trend following and discuss what may drive trends in the coming years. We analyze the role that the Fed plays in the rise of carry trading and we discuss how the so-called KuU framework can be used for in your strategy. We also discuss the use of AI when it comes to forecasting and building models and why systematic managers should be better at explaining what they do, how to use the 3 C’s to better understand markets, the pros and

Sep 21, 2024 • 1:10:30

GM70: The State of the Commodity Super Cycle ft. Adam Rozencwajg

GM70: The State of the Commodity Super Cycle ft. Adam Rozencwajg

This week you are in for a real treat, as Adam Rozencwajg rejoins Cem Karsan and me for a deep dive into the latest developments in the Commodity markets. It's been 15 months since Adam last appeared on the show, and he's back to share his updated perspectives on the highly anticipated next Commodity Super Cycle. Adam even unveils a fascinating and little-known fact about what often coincides with the start of a Super Cycle. We also take a closer look at key markets like Gold, Copper, and the en

Sep 18, 2024 • 1:19:15

SI313: The Paradox of High-Volatility Alternatives ft. Alan Dunne

SI313: The Paradox of High-Volatility Alternatives ft. Alan Dunne

In this episode, Alan Dunne and I explore Mario Draghi's latest vision for Europe and discuss an insightful interview with Kenneth Rogoff, titled "We Will See More Spikes in Inflation," which covers key macroeconomic issues. We also explore the recent Goldman Sachs reports, highlighted by the Financial Times, showing significant outflows from multi-strategy funds. Alan shares his perspective on the current macro landscape and why he believes we may witness more “flash crashes and extreme market

Sep 14, 2024 • 1:05:16

IL30: How To Evaluate True Macro Risk? ft. Philipp Carlsson-Szlezak

IL30: How To Evaluate True Macro Risk? ft. Philipp Carlsson-Szlezak

Our guest on this episode is Philipp Carlsson-Szlezak, the Global Chief Economist at BCG and author of a new book: Shocks, Crises and False Alarms: How to Assess True Macroeconomic Risk. He explains why it’s wrong to put focus on extreme “doom mongering” predictions - which often turn out to be false alarms. We discuss his intuitive framework for evaluating economic predictions and use it to evaluate the risk of inflation and debt in the coming years.-----50 YEARS OF TREND FOLLOWING BOOK AND BEH

Sep 11, 2024 • 58:46

SI312: Should You Just Buy a CTA Index? ft. Rob Carver

SI312: Should You Just Buy a CTA Index? ft. Rob Carver

Rob Carver is back this week to discuss the importance of being able to detach yourself from the markets and taking “real” breaks from time to time and we also hear from Rob what it is like to let his systematic trading system run by itself whilst he enjoys a long summer holiday. We also discuss the underlying theory of macro momentum and how you can apply it to your own system, how he targets volatility in his portfolio and why Rob does not like using stop-losses to exit trades. We also touch o

Sep 7, 2024 • 1:14:11

GM69: The Global Economy from a Liquidity Perspective ft. Michael Howell

GM69: The Global Economy from a Liquidity Perspective ft. Michael Howell

Michael Howell, Managing Director of Crossborder Capital and Author of the Capital Wars Substack, returns in this episode to speak with Alan Dunne about the liquidity cycle’s influence on global markets. Michael outlines how he sees rising liquidity growth providing a favourable backdrop for risky assets and that the conventional narrative that the Fed has been tightening liquidity via quantitative tightening is misplaced. They discuss how the requirement to refinance $70 trillion in debt every

Sep 4, 2024 • 1:02:48

SI311: BREAKING: New CTA Index being revealed ft. Andrew Beer

SI311: BREAKING: New CTA Index being revealed ft. Andrew Beer

As August comes to an end, we discuss this month of extremes for the trend-following community, marked by significant dispersion in performance and unusual price activity across multiple asset classes as well as the economy in general. We address the strengths and limitations of replication strategies and Andrew shares insights into how he thinks about appropriate correlations levels between the benchmark and the replication strategy. We discuss the challenges of the due diligence process in rep

Sep 1, 2024 • 1:00:59

GM68: Chief Strategist: “Most Scenerios Point to Recession” ft. Peter Berezin

GM68: Chief Strategist: “Most Scenerios Point to Recession” ft. Peter Berezin

Peter Berezin Chief Strategist and Research Director at BCA Research returns in this episode to discuss with Alan Dunne why he believes the US economy will soon enter recession and the S&P 500 will fall as low as 3750. Peter highlights the leading indicators in the housing market, labour market and in manufacturing that suggest to him that the economy is on a weakening trend and why he expects the unemployment rate to rise from here. They discuss current equity valuations, the Mag 7 and why

Aug 28, 2024 • 1:01:30

SI310: The Illusion of Backtests and True Drivers of Price ft. Richard Brennan

SI310: The Illusion of Backtests and True Drivers of Price ft. Richard Brennan

Together with Richard Brennan we address the high level of volatility we have experienced this month and what airplane turbulence can teach us about periods of volatility. We also discuss why backtesting can’t predict future performance and what can be done to achieve achieve more realistic expectations of future risk and returns. We then dive into how investor behaviour drives price movement and how trend followers play a role in this, and why it may still make sense to include highly correlate

Aug 24, 2024 • 1:03:26

IL29: Technology: The Economic Dynamite ft. Mark Mills

IL29: Technology: The Economic Dynamite ft. Mark Mills

In this episode we welcome back Mark Mills, author of The Cloud Revolution: How The Convergence of New Technologies Will Unleash the Next Economic Boom and a Roaring 2020’s. Mark was a guest on the show one year ago and many of the predictions he made then have come true. We revisit his view that simultaneous improvements in information, materials and machine technologies are about to unleash an economic boom. He explains the surge in power consumption related to AI and why this should

Aug 21, 2024 • 1:00:45

SI309: Bonds Behaving Badly ft. Katy Kaminski

SI309: Bonds Behaving Badly ft. Katy Kaminski

Along with Katy Kaminski, we discuss how the current disruptions in the economy and markets cause a change in investors’ behaviour. We dive deep into the interconnection between inflation, bonds and volatility and we discuss how to build a portfolio that performs well in economic downturns. We also discuss the difference between a crisis versus a correction and the evolution when it comes to "model speed" within the CTA industry, the importance of sticking to the process in times of uncertainty

Aug 17, 2024 • 58:53

ALO25: Master Your Hedge Fund Allocation ft. John Jackson

ALO25: Master Your Hedge Fund Allocation ft. John Jackson

Join John Jackson, Global Head of Hedge Fund Research at Mercer, and Alan Dunne in this enlightening episode as they dive into the world of hedge fund selection! Discover how a leading institutional consultant selects hedge funds and builds robust portfolios. John shares his insights on why starting with manager selection is key to the portfolio construction process and how he integrates top-down considerations into the mix. The conversation delves into the roles different strategies play i

Aug 14, 2024 • 1:04:39

SI308: Major Market Moves - What Now, Trend Followers? ft. Nick Baltas

SI308: Major Market Moves - What Now, Trend Followers? ft. Nick Baltas

Following an eventful week with major market rotations, I'm joined by Nick Baltas to discuss the impact of this weeks turbulence on trend followers. We discuss how trend following strategies had already started to adapt to the market rotations in July and what the consequence of leaving the short fixed income trade behind meant for overall performance in August. We also discuss how the market rotations has changed investors’ perception of trend following speed and why there is no “one size fits

Aug 10, 2024 • 1:05:01

GM67: Successful Investing in a Disrupted World ft. Aswath Damodaran

GM67: Successful Investing in a Disrupted World ft. Aswath Damodaran

Aswath Damodaran, Professor of Finance at NYU Stern and a leading expert on valuation and corporate finance joins Alan Dunne in this episode for a fascinating and thought-provoking discussion on current markets and investing in general. They explore why Aswath believes we have witnessed the death of old-school value investing and how structural shifts in the economy have fundamentally altered the investing landscape. The discussion delves into the valuation of Nvidia and the Mag 7, questioning w

Aug 7, 2024 • 1:05:12

SI307: The Unpinning of Volatility & How to Prepare for What is Coming ft. Cem Karsan

SI307: The Unpinning of Volatility & How to Prepare for What is Coming ft. Cem Karsan

Together with Cem Karsan, we discuss how the volatility space is experiencing major dispersion at the moment and how you can prepare your portfolio for the unpinning of volatility which we are experiencing. We also address how the groundbreaking events that have happened in the U.S. election recently might change the outcome of the election and what impact this will have on the economy. We discuss the core principles and mechanisms behind market moves and how Fed plays a pivotal role in this. An

Aug 3, 2024 • 1:07:40

IL28: The Transformation of the 21st Century Economy ft. Ernest Scheyder

IL28: The Transformation of the 21st Century Economy ft. Ernest Scheyder

In this episode we speak to Ernest Scheyder, an award-winning journalist, senior correspondent for Reuters and author of the acclaimed new book: The War Below: Lithium, Copper and the Global Battle to Power Our Lives. We can’t have green energy without mining. But there is no way around the fact that mining is loud, dangerous and disruptive. Our conversation explores this tension that sits at the center of the energy transition. We also discuss new technologies for mineral extraction and recycli

Jul 31, 2024 • 57:41

SI306: If Trend Following was an Olympic Sport... ft. Mark Rzepczynski

SI306: If Trend Following was an Olympic Sport... ft. Mark Rzepczynski

Together with Mark Rzepczynski we discuss how the activist treasury issurance of more bills than coupons have provided more quantitative easing and why we are seeing a decline in concern for inflation and rising interest rates. Mark also shares key insights to why building a system is more important than building models and what you can use a backtest for, and we discuss whether investors should focus mostly on stocks or bonds in their portfolio. We also discuss why you should include trend foll

Jul 27, 2024 • 1:06:08

GM66: Trump Trade and the 3 Legged Stool ft. MacroAlf & Cem Karsan

GM66: Trump Trade and the 3 Legged Stool ft. MacroAlf & Cem Karsan

Alfonso Peccatiello joins us for a compelling discussion on today’s challenging macroeconomic environment. Alongside my co-host Cem Karsan, we explore the impacts of massive debts, weak public sector balance sheets, and rising wealth inequality. We delve into how polarized electorates and global economic fragmentation are reshaping policies, discussing the economic implications of new tariffs, a weaker Dollar, and the prospects for Gold and Bitcoin. Alfonso shares his insights on rising interest

Jul 24, 2024 • 1:06:44

SI305: Building A Hedge Fund Allocation ft. Alan Dunne

SI305: Building A Hedge Fund Allocation ft. Alan Dunne

Together with Alan Dunne, we take the temperature of the current state of affairs in the U.S. election and how the election impacts the economy and markets. Alan also shares his advice for allocator looking to start a new trend following fund and we discuss how fees are currently the big differentiator in the CTA space, with one manager increasing it's performance fee to 30%. We also discuss the "Dual Mandate of Managed Futures Strategies" and how how different frequencies of skewness affect str

Jul 19, 2024 • 1:02:33

GM65: Why Fed Will Raise Rates Next Year ft. Adam Posen

GM65: Why Fed Will Raise Rates Next Year ft. Adam Posen

In this episode, Alan Dunne welcomes former central banker and current President of the Peterson Institute, Adam Posen, to discuss the economic outlook and monetary policy. Posen explains why he believes markets are mistaken in expecting rate cuts next year and identifies the key factors driving stronger economic growth. They explore global central banking and monetary policy, examining the successes and challenges of inflation targeting, the models used by central banks, and the most important

Jul 17, 2024 • 1:02:59

SI304: Taking the Trend Following Temperature with Man AHL ft. Graham Robertson

SI304: Taking the Trend Following Temperature with Man AHL ft. Graham Robertson

Today, we are joined by our special guest, Graham Robertson who is Partner and Head of Client Portfolio Management at Man AHL, for a wide-ranging conversation about trend following. We discuss how trend following has stood out in recent years and why April 2024 was especially noteworthy, and how Graham views the current interest from investors around the world. We also address to what extent trend following should play a role in your portfolio and what type of environment tends to influence over

Jul 13, 2024 • 1:07:23

OI09: The Key to Trend Following Success ft. Cole Wilcox

OI09: The Key to Trend Following Success ft. Cole Wilcox

In this episode, Moritz Seibert and Cole Wilcox from Longboard Asset Management speak about systematic trend following strategies applied to single stocks, including the many advantages compared to long only buy and hold, but also some of the challenges and technical details related to portfolio construction. Cole is the founder and CEO of Longboard Asset Management, an Arizona-based alternatives fund management firm. He explains why participating in some of the big outlier price moves in mid an

Jul 10, 2024 • 49:19

SI303: The Unstoppable Volpocalypse ft. Cem Karsan & Alan Dunne

SI303: The Unstoppable Volpocalypse ft. Cem Karsan & Alan Dunne

Cem Karsan joins Alan Dunne in this week’s episode to discuss global macro developments and key events to monitor in the coming months. They explore the shifting market microstructure and how volatility supply from structured products is impacting dispersion, correlation, and the value of breadth as a market indicator. Cem outlines his outlook on volatility trading for the coming months, highlighting key dates in the options calendar that may become focal points as the year progresses. They also

Jul 6, 2024 • 1:01:04

GM64: Why the Economy is Vulnerable to Recession ft. Claudia Sahm

GM64: Why the Economy is Vulnerable to Recession ft. Claudia Sahm

Alan Dunne is joined by Claudia Sahm, Chief Economist at New Century Advisors and creator of the Sahm Rule, to discuss the current macroeconomic outlook. They explore the state of the US labour market and what the Sahm Rule reveals about the economy's current condition. They discuss the conflicting signals in today’s macroeconomic data and hear why Claudia believes the economy is more vulnerable to recession now than in recent years. They also discuss the decline in inflation over the past year,

Jul 3, 2024 • 57:05

SI302: The Negative Crisis Beta and CTA's Hidden Market Timing Skills ft. Nick Baltas

SI302: The Negative Crisis Beta and CTA's Hidden Market Timing Skills ft. Nick Baltas

This week, Alan Dunne chats with Nick Baltas about CTAs' negative crisis beta and their hidden market timing skills. Nick and Alan tackle the question of how to build an effective trend-following program as part of a larger multi-asset portfolio, in relation to the markets traded and speed of system and tie in insights from a recent Quantica paper. They weigh the benefits of unconstrained trend-following programs versus those with capped equity beta. Plus, they discuss the ideal level of vo

Jun 29, 2024 • 1:07:37

GM63: War Without Rules ft. General Robert Spalding

GM63: War Without Rules ft. General Robert Spalding

Join us as Cem Karsan and I explore China's plan for global dominance with retired General Robert Spalding, author of "War Without Rules." General Spalding discusses the rising tensions between China and the West, pointing out warning signs from the past two decades and mistakes made by the West. We delve into China's long-term strategy for world domination and its impact on investment strategies. We also question if TikTok is being used by China as a weapon against the West. Additionally, we ex

Jun 26, 2024 • 1:17:09

SI301: The AI Hype within Investing...a Step Too Far? ft. Rob Carver

SI301: The AI Hype within Investing...a Step Too Far? ft. Rob Carver

Today, Rob Carver shares his insights on buying put options as a tail risk strategy and how trend following can also play a part in tail risk protection...but perhaps not they way some investors may think. Rob also shares his advice for using carry in your strategies when trading rolling futures contracts. We then pivot to hear Rob's thoughts on why the U.S. election appears to be the perfect storm, and we discuss what the outcome of the election will mean for the economy. Rob also explain why h

Jun 22, 2024 • 1:06:14

OI08: Trend Following...Austrian Style ft. Michael Neubauer & Joseph Waldstein from SMN

OI08: Trend Following...Austrian Style ft. Michael Neubauer & Joseph Waldstein from SMN

In this episode, Moritz Seibert speaks with Michael Neubauer and Joseph Waldstein from SMN Investment Services, a Vienna, Austria-based systematic trend following manager with a 28-year track record. Michael and Joseph explain how they initially got interested in trend following and how their systems have evolved over the years. Moreover, the discuss why trading many different markets – as many as possible – is important for their approach, and that the inclusion of synthetic markets such as spr

Jun 19, 2024 • 51:18

SI300: Finding the Optimal Trend Following Rules ft. Richard Brennan

SI300: Finding the Optimal Trend Following Rules ft. Richard Brennan

Together with Richard Brennan, we discuss the optimal way of doing trend following and how to find the optimal set of rules to use in different market regimes, how to examine market states through Markov models and how artificial intelligence will impact trend following and make short-term trading incredibly competitive. Lastly, we ask ChatGPT what the optimal way of doing trend following is.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FRE

Jun 15, 2024 • 57:19

IL27: Unlocking the Secrets of Great Communication ft. Charles Duhigg

IL27: Unlocking the Secrets of Great Communication ft. Charles Duhigg

In this episode, we speak with Charles Duhigg, a renowned author and writer for The New Yorker, who won the 2013 Pulitzer Prize for exploratory journalism. His book, "The Power of Habit," spent three years on the New York Times bestseller list. Charles joins us to discuss his new book, "Supercommunicators: How to Unlock the Secret Language of Connection." Our conversation centers around the importance of effective communication in personal and professional relationships, including in the investm

Jun 12, 2024 • 56:37

SI299: Sharing the Trend Following Pie ft. Andrew Beer

SI299: Sharing the Trend Following Pie ft. Andrew Beer

Today, we are joined by Andrew Beer where we discuss the outlook for inflation and why Andrew believes there is an existential crisis in macro economic modelling. We then touch on the question "if trend followers might be the only true short sellers left" as well as how to deal with the lag effect when using replication models. We round off our conversation discussing why Andrew believes we should all “share the trend following pie” and why the managed futures space is stalling when it comes to

Jun 8, 2024 • 1:09:38

GM62: How to Build a Future-Proof Portfolio ft. Bob Elliott

GM62: How to Build a Future-Proof Portfolio ft. Bob Elliott

Today, Cem and I welcome Bob Elliott, the founder of Unlimited Funds and former right-hand man to Ray Dalio at Bridgewater. Bob shares what he learned from his decade at Bridgewater and discusses the unique income-led economic expansion currently happening in the US, contrasting it with typical credit-driven expansions. He also explains why most investors are wrongly positioned in today's macro landscape and how they can create a balanced and diversified portfolio. Bob emphasizes the importance

Jun 5, 2024 • 1:04:28

SI298: The Trend Following ETF Revolution ft. Katy Kaminski

SI298: The Trend Following ETF Revolution ft. Katy Kaminski

Together with Katy Kaminski, we dive deep into the ETF space to better understand how you can utilize a new wave of ETFs as an investor. Katy describes the transition many Trend Following managers have gone through to get into the ETF space and how you can integrate the Trend Following ETFs in your own portfolio. We discuss if or how due diligence in the ETF space may be different from traditional due diligence and the different paths into the ETF space managers have chosen. We also discuss fee

Jun 1, 2024 • 59:40

GM61: The New Politics: Neoliberal Decline and Authoritarian Rise ft. Gary Gerstle

GM61: The New Politics: Neoliberal Decline and Authoritarian Rise ft. Gary Gerstle

Join Alan Dunne in conversation with Gary Gerstle, Professor of American History at the University of Cambridge and author of "The Rise and Fall of The Neoliberal Order", as they delve into the shifting landscape of the global political order. From the decline of the New Deal Order to the ramifications of the Global Financial Crisis, Gary traces the trajectory of the Neoliberal Order and its impact on contemporary society. Exploring the nuances of Bidenomics, they analyse the sustainability of c

May 29, 2024 • 1:07:32

Si297: Trend Following as a Return Enhancement Overlay ft. Alan Dunne

Si297: Trend Following as a Return Enhancement Overlay ft. Alan Dunne

In today’s episode, Alan Dunne helps us uncover the latest news and data within the global macro landscape. We also discuss the state of the quant macro space, how it compares to trend following and what allocators should consider when comparing the two. Then we break down how family offices are looking to allocate assets at the moment before we turn our attention to a potential new narrative within the trend following world - namely, how trend following can be used as an return enhancement over

May 25, 2024 • 1:02:54

IL26: How New Technologies Will Shape the Economy ft. Koen De Leus & Philippe Gijsels

IL26: How New Technologies Will Shape the Economy ft. Koen De Leus & Philippe Gijsels

In this episode we speak to Koen De Leus and Philippe Gijsels. Koen is Chief Economist at BNP Paribas Fortis and Philippe is Chief Strategist. They are co-authors of The New World Economy in 5 Trends: Investing in Times of Superinflation, Hyperinnovation and Climate Transition. We talk about how technologies like AI, 3D printing will drive economic growth and why they are likely to create more jobs than they destroy. Another important trend from a market perspective is the potential for a doubli

May 22, 2024 • 1:10:28

SI296: Is Trend Following Becoming Too Complicated? ft. Mark Rzepczynski

SI296: Is Trend Following Becoming Too Complicated? ft. Mark Rzepczynski

Mark Rzepczynski is back to discuss the latest investor sentiment survey from Societe Generale’s Capital Consulting team, to find out what strategies investors are losing interest in and which are seeing more demand right now. We also dig into how the performance of economies greatly depends on the type of government policies and how going from multilateralism to bilateralism impacts trend following, the complexity of being a systematic manager and the phalacy of consensus. Mark also explains wh

May 18, 2024 • 1:03:37

ALO24: Managing Money Through Structural Shifts ft. Richard Urwin

ALO24: Managing Money Through Structural Shifts ft. Richard Urwin

Richard Urwin, Chair of the Investment Committee at Saranac Partners, the $6bn UK wealth manager, joins Alan Dunne in this episode to discuss how he is approaching asset allocation at the current juncture. They discuss how long term valuations and asset class return forecast help inform Saranac’s strategic asset allocation and delve into some of the structural forces that may influence the economic outlook and asset class returns in the coming decade. While shifting demographics, climate change,

May 15, 2024 • 1:06:29

SI295: Trend Followers - The Unwanted Party Guests? ft. Nick Baltas

SI295: Trend Followers - The Unwanted Party Guests? ft. Nick Baltas

Together with Nick Baltas, we dive into trading signal direction and discuss if signal direction always trump signal strength in portfolio construction, based on CFM’s paper on Agnostic Risk Parity. Baltas also explains why allocating risk to where opportunity lies is prudent as well as why trend following is a powerful tool to achieve a broad risk allocation. Based on Baltas’ recent paper in the Financial Times, we also discuss equity momentum and why trend followers might be the “unwanted gues

May 11, 2024 • 1:01:19

ALO23: Behind the Scenes of a High Net Worth Investor ft. Tad Fallows

ALO23: Behind the Scenes of a High Net Worth Investor ft. Tad Fallows

In this episode, Tad Fallows, Founder of Long Angle, a community for high-net-worth and ultra-high-net-worth investors, joins Alan Dunne for a fascinating chat on how they approach asset allocation and find niche investment opportunities. Tad speaks about the typical risk appetite of his co-investors, highlighting how age and generation of wealth shape the risk profile of members. He talks about investments in private equity, alternative assets, and their investment strategies in the shifting m

May 8, 2024 • 1:08:16

SI294: Lowering the Cost of being Long Commodities ft. Hari Krishnan

SI294: Lowering the Cost of being Long Commodities ft. Hari Krishnan

Hari Krishnan returns to the show for a deep dive into commodities. He helps us understand why investing in commodities is not as easy as other markets and why he believes that we are entering a commodity super cycle. We also discuss how to overcome the challenges of holding and storing commodities and why cheap commodities are not always so cheap once you start rolling your futures position. We talk about where his new “virtual storage” concept can add value to a trend following system and much

May 4, 2024 • 55:59

GM60: Preparing Your Portfolio for the Second Half of 2024 ft. Christian Mueller-Glissmann

GM60: Preparing Your Portfolio for the Second Half of 2024 ft. Christian Mueller-Glissmann

In this episode, Cem and I welcome Christian Mueller Glissman back on the show, and together, we tackle the intricacies of capital allocation in 2024, particularly amid the pivotal elections we expect to see. We discuss the pros and cons of starting with a 60/40 portfolio allocation strategy. Cem and Christian highlight Europe's resilience to inflation and its potential energy cost advantages, making it an attractive investment destination. We also analyze how election cycles, especially during

May 1, 2024 • 1:05:08

SI293: Market Outlook for the Rest of 2024 & EOY S&P500 level ft. Cem Karsan

SI293: Market Outlook for the Rest of 2024 & EOY S&P500 level ft. Cem Karsan

Today, I'm joined by Cem Karsan to discuss how speculations in markets affect the economy and Cem presents his view on the current state of global macro as well as a forecast for the rest of the year. How do conflicts around the world affect the global economy and why does Cem believe that we are going into a “dangerous period”? Why does Cem believe options are key to making profit from different scenarios and outcomes and what are the possibilities of seeing US rate cuts later this year? We als

Apr 27, 2024 • 58:40

GM59: The Geopolitical Tug-of-War: Russia, China & the West ft. Marko Papic

GM59: The Geopolitical Tug-of-War: Russia, China & the West ft. Marko Papic

Join us for an eye-opening discussion on global power dynamics with geopolitics expert Marko Papic, alongside Cem Karsan and myself, where we dive deep into the ongoing tug-of-war between the West, Russia, China, and the rest of the world. Marko sheds light on the United States' push for a clear bipolar world order. He shares his insights on whether the world as we know it is coming to an end and why a Trump presidency may pave the way for trade deals and foreign policy agreements, particularl

Apr 24, 2024 • 1:06:56

SI292: Is Cocoa becoming Too Hot for Trend Followers? ft. Rob Carver

SI292: Is Cocoa becoming Too Hot for Trend Followers? ft. Rob Carver

Today, Rob Carver joins me to answer questions about MatLab as a backtesting tool, why you should be careful to apply trend following in crypto and what Rob think about seasonality and relative value as strategies. We also dive into why Rob has increased his allocation to trend following and his thought process when building portfolios, how the surging price of cocoa has impacted the trend following industry and much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Perf

Apr 20, 2024 • 1:01:56

IL25: Any Happy Returns... the Next Super Cycle? ft. Peter Oppenheimer

IL25: Any Happy Returns... the Next Super Cycle? ft. Peter Oppenheimer

In this episode Peter Oppenheimer, Chief Global Strategist and Head of Macro Research in Europe for Goldman Sachs joins us to discuss his new book Any Happy Returns: Structural Changes and Super Cycles in Markets. Peter believes financial cycles are the primary driver of investor returns. He explains how each cycle consists of four phases with distinct characteristics in terms of returns, earnings growth and valuations. We talk about the structural changes that are creating headwinds for markets

Apr 17, 2024 • 57:42

SI291: Trend Following...What should it mean to Investors? ft. Richard Brennan

SI291: Trend Following...What should it mean to Investors? ft. Richard Brennan

In this episode, we are joined by Richard Brennan to discuss why now is the time to step up your trend following allocation. Rich challenges Andrew Beer’s conclusion that a 3% allocation to trend following is the sweet spot and explains why he believes the trend following industry should simplify its narrative and quit the fancy “jargon”. We also discuss what defines a trend follower and why we may be losing the incentive to keep improving as trend followers, new research on the impact of crises

Apr 13, 2024 • 1:09:54

TTU146: The value of Unpredictable Alpha ft. Anthony Todd

TTU146: The value of Unpredictable Alpha ft. Anthony Todd

Today, we are delighted to be joined by Anthony Todd, Co-Founder & CEO of Aspect Capital, for an insightful discussion on the role of systematic trading and trend following in today’s economy. We also discuss what has driven Aspect Capital’s shift towards developing multiple strategies and how they guide their clients to make better investment decisions, whether the trend following industry should be concerned about replication strategies and how allocations are funded today. Lastly, we disc

Apr 10, 2024 • 1:11:05

SI290: Honey, I Shrunk the Trend Following ft. Andrew Beer

SI290: Honey, I Shrunk the Trend Following ft. Andrew Beer

Today, we are joined by Andrew Beer to discuss why the current surge in Cocoa prices really is a big deal for our industry, but how CTAs have been selling it this year, against many main stream media reports. We also dig into how the strong performance in Q1 2024 is helping Trend Following making its way into more Model Portfolios and the existential crisis that we are seeing in the Model Portfolio world. We explain how the narrative around trend following is changing and why replication strateg

Apr 6, 2024 • 1:15:15

ALO22: Finding an Absolute Return Solution for a C$11BN Pension Plan ft. Christophe L'Ahelec

ALO22: Finding an Absolute Return Solution for a C$11BN Pension Plan ft. Christophe L'Ahelec

Christophe L’Ahelec, Managing Director of Public Markets at University Pension Plan Ontario, joins Alan Dunne in this episode to discuss their approach to managing the C$11bn defined benefit pension plan. We discuss the high level Strategic Asset Allocation of the plan and also how the changed macro environment in recent years has motivated a shift in the asset allocation towards more absolute return strategies. Such strategies play a dual role of diversification and return enhancement for UPP a

Apr 3, 2024 • 56:54

SI289: Kahneman, Trend Following & Cocoa ft. Mark Rzepczynski

SI289: Kahneman, Trend Following & Cocoa ft. Mark Rzepczynski

Mark Rzepczynski joins us to remember one of the most important people within modern-day finance, author and psychologist, Daniel Kahneman, and the impact he had on our industry. We also discuss how increasing interest rates change the way investors behave and why trend following and CTAs have performed so well the past 5 years, perhaps without been given the credit the strategy deserves. We also dive into the cocoa market to discuss why it may still have a long way to go, despite racking up ano

Mar 30, 2024 • 1:06:39

OI07: The Evolution of Short-Term Trading ft. Tony Kaiser

OI07: The Evolution of Short-Term Trading ft. Tony Kaiser

In this episode, Moritz Seibert is joined by Tony Kaiser, the CEO and founder of Kaiser Trading, a short-term systematic fund based in Melbourne, Australia. Tony speaks about his start in the late 1990s, leaving a bank prop trading role to set up his own shop, and then comments on how the short-term trading space has changed and evolved over the years. Today, the models they use are shorter-term than the ones they used to trade decades ago, and the entire business is much more tech dependen

Mar 27, 2024 • 58:33

SI288: Why Investors are Under-Allocating to Trend Following? ft. Alan Dunne

SI288: Why Investors are Under-Allocating to Trend Following? ft. Alan Dunne

Join us for the weekly trend following update with Alan Dunne, where we discuss why 2024 is turning into an interesting year for investors with diverging signals from Central Banks. We debate the possibility of the markets entering a bubble and how the levels of interest rates could cause a refinance crisis. Alan also takes us through the history and outlook as per the newly released UBS 2024 Yearbook, uncovering what has been dominating the economy throughout history, and the reason why many in

Mar 23, 2024 • 59:55

OI6: A Fundamental Approach to Commodities ft. Ricardo Leiman & Pedro Marion

OI6: A Fundamental Approach to Commodities ft. Ricardo Leiman & Pedro Marion

In this episode, Moritz Seibert is joined by Ricardo Leiman and Pedro Marion from KLI Asset Management, a UK-based commodities-focused hedge fund. Ricardo and Pedro explain why KLI’s trading approach is rooted in deep fundamental analysis of commodity supply and demand and how they integrate commodity equities into their portfolio. Furthermore, they mention that the strong diversification across their portfolio of about 30 markets allows them to hold directional positions longer term, avoiding s

Mar 20, 2024 • 45:34

SI287: No Pain, No Gain ft. Katy Kaminski

SI287: No Pain, No Gain ft. Katy Kaminski

Today, we welcome Katy Kaminiski back to the show as we reflect on her entry into the trend following space and what she has learned on her systematic journey. We also discuss different ways of allocating risk in portfolio construction and why Katy “loves skewness”, why preparing for pain can actually lead to better decisions as an investor and how changes in the global macro environment takes time to manifest in trends. Lastly, we discuss what we are both excited and nervous for in 2024.-----50

Mar 16, 2024 • 59:00

GM58: Electric Dreams and Commodity Market Realities ft. Tor Svelland

GM58: Electric Dreams and Commodity Market Realities ft. Tor Svelland

Tor Svelland, of Svelland Capital, joins Alan Dunne in this episode to discuss the global macro forces driving global commodity markets. They discuss how the commodity markets have evolved over the years, as banks have scaled back trading and quant firms and CTAs have become more prominent players. Tor outlines the key reasons he believes commodity markets are in the midst of a super cycle, identifies where he sees the strongest opportunities and discusses what the commodity markets are current

Mar 13, 2024 • 1:01:38

SI286: Profiting from Different Investment Regimes? ft. Rob Carver

SI286: Profiting from Different Investment Regimes? ft. Rob Carver

This week, Rob Carver joins us to uncover his process of choosing which instruments to trade and how to manage the volatility of these. We also discuss how time frames affect position sizing and the ability to get reasonable exposure to a market as well as how you manage your expenses as a full time systematic trader. We round off our conversation with a deep dive into the latest paper from Man Institute to find out if different regimes exist in reality or just in hindsight. The paper uncovers i

Mar 9, 2024 • 1:11:34

IL24: Our Chance to Build a Sustainable Future ft. Hannah Ritchie

IL24: Our Chance to Build a Sustainable Future ft. Hannah Ritchie

In this episode we talk to Dr. Hannah Ritchie, Deputy Editor and Lead Researcher at Our World In Data and author of the Not The End of the World, How We Can Be The First Generation to Build a Sustainable Planet. Dr. Ritchie talks about her personal journey from a climate pessimist ready to switch careers to a data scientist explaining why the world can transition to a sustainable future. We discuss how China and India are becoming greener at a much faster rate than western countries did as they

Mar 6, 2024 • 58:34

SI285: Elections Ahead & What this Mean for Investors ft. Cem Karsan

SI285: Elections Ahead & What this Mean for Investors ft. Cem Karsan

Today, Cem Karsan joins us to discuss a wide range or really important topics. Inspired by questions from listeners we discuss how the balance in asset performance is shifting and how 0DTE impact markets. We also discuss how 2024 will contain more inportant elections than any other year in recent history and how we foresee the U.S. election will play out, the state of flows and the rise of a new meme stock. Lastly, we discuss whether the U.S. is beginning to loose the exorbitant privilege due to

Mar 2, 2024 • 1:07:38

ALO21: How to Run a Multi-Billion Dollar Sovereign Fund ft. Peter Madsen

ALO21: How to Run a Multi-Billion Dollar Sovereign Fund ft. Peter Madsen

Peter Madsen, CIO of SITFO, joins Alan Dunne in this episode to discuss how the $3.5bn State of Utah Sovereign Fund runs its investment portfolio. They discuss the rationale for Peter’s investment philosophy of having a diversified portfolio of growth assets, real assets, income generating assets and defensive strategies in contrast to the equity-centred portfolios of many endowments. Peter discusses the key risk considerations in managing the portfolio and how the team think about formulating r

Feb 28, 2024 • 1:05:23

SI284: Choosing Your Trend Following Battles ft. Nick Baltas

SI284: Choosing Your Trend Following Battles ft. Nick Baltas

Goldman Sachs's Nick Baltas joins us today, to help us uncover if it is meaningful to use factor regression to evaluate managed futures. We also weigh in on couple of articles, relating to the outlook for trend following and the state of the industry, before turning our attention to some hard core research into how to construct the optimal trend following portfolio and why it is important to be conscious of which battles you pick. Lastly, we discuss the challenge of timing an investment into tre

Feb 24, 2024 • 1:06:40

OI05: Is Trading Fewer Markets Actually Better? ft. Richard Liddle & Gareth Abbot

OI05: Is Trading Fewer Markets Actually Better? ft. Richard Liddle & Gareth Abbot

In this episode, Moritz Seibert speaks with Gareth Abbot and Richard Liddle from Bowmoor Capital, a trend following firm based in the UK. Gareth and Richard explain why they decided to go against many trend followers and limit their investment universe to 21 markets – a “compact” portfolio – and why additional markets would likely dilute the return stream they aim to generate. We also speak about their portfolio construction process which includes the combination of 16 systems and results in wha

Feb 21, 2024 • 1:06:53

SI283: How to Beat the Benchmarks ft. Richard Brennan

SI283: How to Beat the Benchmarks ft. Richard Brennan

Come along for this fascinating conversation with Richard Brennan, where we dive into how to the beat the benchmarks as a manager. We discuss the different factors that goes into achieving great performance and why trend following has greater potential return than other alternative investment strategies, why bigger and newer is not always better in terms of complex adaptive systems, why it is important to be aware of system diversification and much more.-----EXCEPTIONAL RESOURCE: Find Out How to

Feb 18, 2024 • 1:12:08

GM57: Navigating the Next Decade ft. Kiril Sokoloff

GM57: Navigating the Next Decade ft. Kiril Sokoloff

Legendary strategist Kiril Sokoloff, founder and Chairman of 13D Research, joins Alan Dunne in this episode for a whirlwind tour of where Kiril sees the risks and opportunities in global markets over the next decade. Kiril outlines the reasons behind his belief that the secular bull market in bonds is over and a secular bear market is now underway. They discuss implications of climate change decarbonisation, the ageing global economy, rising debt levels and the growing risk of a significant dera

Feb 14, 2024 • 1:03:09

SI282: Rethinking Bonds: the Changing Role of Fixed Income ft. Andrew Beer

SI282: Rethinking Bonds: the Changing Role of Fixed Income ft. Andrew Beer

Andrew Beer returns to the show for a fascinating conversation, where we question the role of Bonds in today's environment, and review both current and historic performance, and what it takes to change investors minds about replacing bonds with managed futures. We also discuss why long-term timeframes might be better for most investors within Trend Following and why stock-picking are becoming less relevant due to shifts in the S&P500 structure. Lastly, we touch on the ETF space and how the i

Feb 11, 2024 • 1:08:44

GM56: Structural Shifts - A Threat to the Economy? ft. Frances Donald

GM56: Structural Shifts - A Threat to the Economy? ft. Frances Donald

Frances Donald, Chief Economist and Strategist at Manulife Investment Management, joins Alan Dunne to discuss how the drivers of the economy and inflation are undergoing a structural shift and what this means for the economic outlook. We hear why Frances expects a recession in the US economy in 2024 and why the risks to her forecasts are on the downside. Frances outlines where she currently sees tactical opportunities in fixed income markets and why she expects equity markets to face headwinds a

Feb 7, 2024 • 1:02:19

SI281: More Markets = Better Performance? ft. Mark Rzepczynski

SI281: More Markets = Better Performance? ft. Mark Rzepczynski

Today, Mark Rzepczynski joins us to reflect on how the first month of 2024 has been treating investor. We also discuss how misinformation posses a major threat to the global economy and how some managers are moving away from price as the only data input, how speed plays a role within trend following and why it is important to be aware of a manager’s "personality". Lastly, we dive deep into principal component analysis and the factors that drive trend following performance, how trading more marke

Feb 3, 2024 • 56:42

IL23: Learning to Fail Well ft. Amy Edmondson

IL23: Learning to Fail Well ft. Amy Edmondson

In this episode we talk to Amy Edmondson, Harvard Business School professor and author of the Financial Times 2023 Business Book of the Year: The Right Kind of Wrong, The Science of Failing Well. Edmondson argues we should cultivate an appetite for “intelligent failure” - events that may be painful but ultimately lead to innovation, personal growth and better relationships. This is difficult because we are hardwired to push failure “underground”, a bias that is often made worse by work cultures

Jan 31, 2024 • 1:02:35

SI280: Equities for the Long Run? ft. Alan Dunne

SI280: Equities for the Long Run? ft. Alan Dunne

As we are getting closer to the 2024 U.S. Presidential election, Alan Dunne joins us to discuss how markets might be affected, should Trump win the election. We also answer a question from our community, in terms of how much you should consider allocating to Trend Following as part of a multi-asset portfolio and we discuss the historical differences between equity and managed futures drawdowns. Lastly, we dive into a couple of recent papers to find out whether stocks are the most optimal allocat

Jan 27, 2024 • 1:04:31

ALO20: How Will Mega Trends Shape the Economy? ft. Casey Clark

ALO20: How Will Mega Trends Shape the Economy? ft. Casey Clark

Casey Clark, President and CIO of Rockefeller Asset Management, joins Alan Dunne in this episode to discuss the mega trends shaping the investment landscape and asset management industry over the coming years. We hear Casey’s insights on what are the key traits of great investors, how Rockefeller evaluates aspiring portfolio managers and what makes a great investment process. The conversation delves into the changing macro landscape, the implications of a positive correlation between bonds and e

Jan 24, 2024 • 1:00:56

SI279: Prepare for a Bumpy Landing ft. Katy Kaminski

SI279: Prepare for a Bumpy Landing ft. Katy Kaminski

In this episode, I'm joined by Katy Kaminski, who delves into the nuances distinguishing momentum trading from trend following, emphasizing the importance of comprehending the underlying philosophy of a trading strategy. Katy sheds light on the concept of 'pure trend' and offers insights on identifying convergent patterns within a trend following approach. We also reflect on the peculiarities of 2023, with Katy sharing her perspective on why we might be entering 'the final phase' and her expect

Jan 20, 2024 • 58:46

GM55: What Investors Need to Know about 2024 ft. Dave Dredge & Cem Karsan

GM55: What Investors Need to Know about 2024 ft. Dave Dredge & Cem Karsan

Get ready for a powerhouse discussion as two titans of risk management, Dave Dredge and Cem Karsan, come together once again. These experts are renowned for their insights, and today, they're diving deep into what's unfolded since their last conversation and where the smart money should be in 2024. From avoiding pitfalls to uncovering lucrative opportunities, Dave and Cem have you covered. Tune in for a dynamic start to the year!-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Bett

Jan 17, 2024 • 1:22:12

SI278: Trend Following Risk Premium...is it there & could it go away? ft. Rob Carver

SI278: Trend Following Risk Premium...is it there & could it go away? ft. Rob Carver

Rob Carver returns to the show to discuss whether there is a risk that the Trend Following risk premium could one day disappear and how he manages exogenous and endogenous risks in a trend following system, how he thinks of trading single stocks instead of stock indices in a diversified multi-asset trend program and what the minimum lookback period would be, in order to be considered “long term”. We also discuss the irony of the newly approved crypto ETF, how the nature of bitcoin has changed an

Jan 13, 2024 • 1:10:44

OI04: Do Alternative Markets Trend Better? ft. Scott Kerson

OI04: Do Alternative Markets Trend Better? ft. Scott Kerson

In this episode, Moritz Seibert is by Scott Kerson, the Head of GreshamQuant. Gresham is a commodity-focused investment management firm and GreshamQuant is their systematic trading arm. In 2017, they launched the ACAR Fund, an alternative markets trend following fund with an exclusive focus on commodities. Scott and Moritz discuss why they believes alternative markets to have better trending properties and higher Sharpe ratios within a trend following context and why they refuse to trade a large

Jan 10, 2024 • 46:57

SI277: What Will 2024 Bring? ft. Cem Karsan

SI277: What Will 2024 Bring? ft. Cem Karsan

Cem Karsan joins us to kick off 2024, where we discuss what lies ahead, and where we question if the reassuring inflation picture with falling prices, rising employment, and decreasing interest rates, may be a mirage. What do recent trends tell us about the outlook for 2024 and is the inflation environment the true driver of the economy? Why does Cem believe we are moving towards stagflation and what implications will this have for the economy? How has the understanding of “normal” changed over

Jan 6, 2024 • 1:05:46

ALO19: Managing Wealth for HNW Investors ft. Joe Prendergast

ALO19: Managing Wealth for HNW Investors ft. Joe Prendergast

In this episode Joe Prendergast, Strategic Advisor and Head of Investment Strategy at Goodbody joins Alan Dunne to discuss the challenges and opportunities in managing wealth for HNW investors, particularly businesses owners. Joe outlines his investment philosophy and why a 50-50 allocation between growth assets and defensive assets is still at the core of his approach to proving a “peace a of mind” portfolio for investors. They discuss risk management and how to manage drawdown risk and the sho

Jan 3, 2024 • 1:05:06

SI276: TTU YEAR-END Special Part 2

SI276: TTU YEAR-END Special Part 2

In this second part of our TTU Year-End special, we continue our conversation by discussing the challenge of defining non-trend strategies and the criteria for a good backtest, whether trend followers can afford to stand still in terms of research. We also discuss what is next for fixed income trading and we present our outrageous predictions for 2024. Happy New Year from all of us at TopTradersUnplugged!-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio u

Dec 30, 2023 • 1:12:45

GM54: "Weakflation" in 2024 ft. Gregory Peters

GM54: "Weakflation" in 2024 ft. Gregory Peters

Greg Peters joins Alan Dunne in this episode for a global fixed income perspective on the evolving macro landscape. We hear why “weakflation” may be the most likely scenario for the US economy but that a the risk of recession is three times its typical level. Greg outlines what the secular shifts in the global economy such as the end of the era of secular stagnation, a stagnating China, stickier global inflation and higher return to labour, mean for the global economy and asset markets. We discu

Dec 27, 2023 • 59:07

SI275: TTU YEAR-END Special Part 1

SI275: TTU YEAR-END Special Part 1

Join us for part 1 of this special edition of Systematic Investor, where we are joined by all of our wonderful co-hosts for a group conversation. In this first part, we take a look back on 2023 and discuss how the year has been treating Trend Followers and CTAs at large. We also discuss volatility trading and value of adding non-trend strategies to your trend following, the outlook of the SG Trend Index and the challenge of classifying yourself in the trend following industry. Lastly, we discuss

Dec 22, 2023 • 1:03:59

IL22: The Fund - The Other Side of Dalio & Bridgewater ft. Rob Copeland

IL22: The Fund - The Other Side of Dalio & Bridgewater ft. Rob Copeland

In this episode we talk to Rob Copeland, New York Times reporter and author of the bestselling new book: The Fund: Ray Dalio, Bridgewater Associates and the Unravelling of a Wall Street Legend. Bridgewater is the world’s largest hedge fund and its founder, Ray Dalio, claims to run his firm based on The Principles, rules for life and work that argue for complete honesty and transparency. His most famous Principle: Pain + Reflection = Progress. But Copeland, who has covered Bridgewater for years a

Dec 20, 2023 • 46:20

SI274: Can You Time Trend Following? ft. Nick Baltas

SI274: Can You Time Trend Following? ft. Nick Baltas

Today, we are joined by Nick Baltas for conversation, where we dive deep into the use of volatility scaling and accelerators in trend following systems. Additionally, we discuss various research papers that address whether trend following CTAs are truly long vol, what the negative impact of trend breaks are, whether you can predict future trend following performance by analyzing previous trend following perfomance and the art of timing trends, why it is important to sometimes settle with “good e

Dec 16, 2023 • 1:06:10

GAL07: Avoiding Apocalypse Through Quantum Physics & AI ft. Klee Irwin

GAL07: Avoiding Apocalypse Through Quantum Physics & AI ft. Klee Irwin

AI is stealing the headlines with what seems like wave after wave of breakthroughs, but running parallel to this are equally rapid advancements in quantum physics and our understanding of reality. Listen in on this complex yet nuanced conversation with Klee Irwin, Founder of Quantum Gravity Research as he shares his views on physics, AI, and the accelerating course humanity finds itself on, and how it ties in to us as investors.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Bette

Dec 13, 2023 • 1:04:41

SI273: Unraveling the Mystery of Complex Adaptive Systems ft. Richard Brennan

SI273: Unraveling the Mystery of Complex Adaptive Systems ft. Richard Brennan

How do you avoid overfitting, how loose is too loose in terms of loose pants and how should you approach sample sizes when designing your trading systems? What are complex adaptive systems, how do they apply to financial markets and why does regular math just not cut it? How does trend following differ from other strategies, what makes trend following so robust and what are the limitations for traditional statistics? Join us for this fascinating conversation with Richard Brennan.-----EXCEPTIONAL

Dec 9, 2023 • 1:07:46

ALO18: Asset Allocation a la carte ft. David Kelly

ALO18: Asset Allocation a la carte ft. David Kelly

David Kelly, Chief Global Strategist at J.P. Morgan joins Alan Dunne in this episode for a big picture perspective on the outlook for the global economy and the implications for asset allocation. We discuss why David is upbeat on the outlook for the US economy with a key part of his optimism resting on the fact that no individual sectors appears stretched or out of balance, which is normally the case prior to a recession. The recent rise in bond yields has been a key focus in markets – we d

Dec 6, 2023 • 1:02:46

SI272: Disrupting the Asset Management Industry ft. Andrew Beer

SI272: Disrupting the Asset Management Industry ft. Andrew Beer

Today, we are joined by Andrew Beer, who helps us uncover why managed futures have been struggling in 2023 and and what makes this year so different from 2022. We discuss the history of replication strategies all the way back to its origins and the intricacies of Andrew’s own replication strategy, and how disruptions have change the asset management industry and if the replicators are now facing their own competition from more pure CTA ETF offerings. We debate if Managed Futures have been "commo

Dec 2, 2023 • 1:14:43

OI03: The inner workings of a High-Frequency Strategy ft. Anant Jatia

OI03: The inner workings of a High-Frequency Strategy ft. Anant Jatia

Anant Jatia, the founder and CEO of Greenland Investment Management, joins Moritz Seibert for a commodities-focused conversation. In this episode, Anant explains how Greenland developed from currency market making to what today is predominantly an HFT-driven commodities arbitrage fund. Anant has a detailed understanding of the workings of physical commodity markets and focuses Greenland’s trades on location and substitution arbitrage trades. Moritz and Anant discuss several exemplary trades in d

Nov 29, 2023 • 1:01:12

SI271: Can Slippage be a Source of Alpha? ft. Mark Rzepczynski

SI271: Can Slippage be a Source of Alpha? ft. Mark Rzepczynski

Today, Mark Rzepczynski and I dissect the macro rally we are experiencing at the moment. We discuss why we are seeing an increasing attention to what CTAs are doing, how survey data regarding the economy confuses investors and markets, and we address some of the most common questions that investors ask in meetings at the moment. Additionally, we discuss how explanatory depth can be applied to trend following, why it is critical to master your attention and speed of adjustment and we wrap up deba

Nov 25, 2023 • 1:08:40

GM53: The Misdiagnosis of the Global Economy ft. Dario Perkins

GM53: The Misdiagnosis of the Global Economy ft. Dario Perkins

Dario Perkins joins Alan Dunne in this episode for an insightful and thought-provoking discussion on the global economic outlook. Dario outlines how many economists and strategists misdiagnosed the global economy coming into 2023 by assuming it was in a typical business cycle which was not the case. The conversation delves into the subtle structural shifts which are underway in the global economy including a shift higher in inflation with 2% now a floor whereas previously it was a ceiling, the s

Nov 22, 2023 • 1:04:54

SI270: CPI, Trend Reversals & Dalio on US-China War ft. Alan Dunne

SI270: CPI, Trend Reversals & Dalio on US-China War ft. Alan Dunne

Today, we are joined by Alan Dunne for a wide ranging conversation, covering pressing global macro issues, the latest trend following research, JP Morgan's outlook for the 60/40 portfolio, following a week dominated by the release of the CPI numbers. We discuss how and why Ray Dalio believes the hot war between the US and China is changing and why the US is seeing an unusually low savings rate at the moment and why Alan believes there are plenty of possibilities in the non-trend space. We also d

Nov 18, 2023 • 1:05:41

OI02: Are QI Strategies Sustainable? ft. Maia Mathieson & Faheem Osman

OI02: Are QI Strategies Sustainable? ft. Maia Mathieson & Faheem Osman

Maia Mathieson and Faheem Osman, both Managing Directors at Macquarie Bank in London speak with Moritz Seibert about the bank’s growing Quantitative Investment Strategies (QIS) business and how their rules-based indices can help investors to efficiently access various risk premium strategies across asset classes. Maia and Faheem explain the key return drivers behind their commodity-focused strategies, for example curve carry and congestion, and explain why they believe these to be structurally s

Nov 15, 2023 • 56:21

SI269: Is the Big Bond Short Over? ft. Katy Kaminski

SI269: Is the Big Bond Short Over? ft. Katy Kaminski

Today’s conversation with Katy Kaminiski is all about change. We discuss what has been the driver of the changing economic environment that we experience and how changing interest rates affect trend followers, why Katy believes we need a repricing in long term yields and how the yield curve is a key factor in trend followers profitability. Katy also explains her outlook for the markets, how you build portfolios in the current economic environment and much more.-----EXCEPTIONAL RESOURCE: Find Out

Nov 12, 2023 • 56:42

GM52: The Re-Emergence of the Bond Vigilantes ft. Ed Yardeni

GM52: The Re-Emergence of the Bond Vigilantes ft. Ed Yardeni

Ed Yardeni, President and Chief Investment Strategist at Yardeni Research joins us today to discuss the re-emergence of the bond vigilantes, a term Ed coined four decades ago. We discuss why bond investors are pushing up long-term bond yields and what are the prospects are for a debt crisis in the US. Ed outlines his view that we may see “rolling recessions” rather than a sharp economic downturn but that he has recently increased his probability of a hard landing. We examine the parallels bet

Nov 8, 2023 • 56:00

SI268: Are Investors Wrongly Positioned for the New World Order? ft. Cem Karsan

SI268: Are Investors Wrongly Positioned for the New World Order? ft. Cem Karsan

Cem Karsan returns to help us uncover the art of tail hedging and whether he views the January 2024 OpEx as a possible inflection point and start of a new bear market. We discuss the latest events in the macro space, especially regarding the conflict in the Middle East, and how it impacts markets, why Niels believes we are probably heading towards a world where investors are completely wrongly positioned and why it is important to think differently when it comes to asset allocation. Lastly, Cem

Nov 4, 2023 • 1:04:31

OI1: Cracking the Code of Commodity Spread Trading ft. Mauritz van den Worm

OI1: Cracking the Code of Commodity Spread Trading ft. Mauritz van den Worm

You are invited to an eye-opening conversation with Mauritz van den Worm, a quant researcher at Polarstar, a commodities-focused hedge fund in Cape Town, South Africa, hosted by Moritz Seibert. In this inaugural episode of the Open Interest series, Mauritz takes us on a journey through the fascinating world of commodity spreads. We explore not only calendar spreads but also delve into cross-market substitution spreads, location arbitrage trades, and processing margin spreads.Discover how PolarS

Nov 1, 2023 • 1:00:31

SI267: A Masterclass in Absolute vs Cross Sectional Momentum ft. Richard Brennan

SI267: A Masterclass in Absolute vs Cross Sectional Momentum ft. Richard Brennan

In today’s episode, Richard Brennan takes us on a tour around the Australian economy and how the investment landscape is changing. We also discuss how different investment philosophies demand different interpretations and why the “one size fits all” approach does not exist, how cross-sectional momentum differs from absolute momentum. Lastly, we discuss why Richard uses an ensemble of trend following systems and why he always strives for maximum diversification, and why I feel we should not intro

Oct 28, 2023 • 1:26:02

ALO17: Inflation, Volatility, and AI: Ruffer's Bold Market Insights ft. Matt Smith

ALO17: Inflation, Volatility, and AI: Ruffer's Bold Market Insights ft. Matt Smith

Today we are joined by Matt Smith, Investment Director at Ruffer for a fascinating discussion on global markets, asset allocation and how history can guide us in the current global macro landscape. Matt explains why Ruffer is defensively positioned at the moment, why he is sceptical of the AI rally in stocks in recent months and where is he sees opportunity in markets at the moment. We discuss the secular outlook for inflation and why Matt believes we sill see greater volatility and a trend high

Oct 25, 2023 • 59:10

SI266: Constructing and Assessing Trading Strategies ft. Rob Carver

SI266: Constructing and Assessing Trading Strategies ft. Rob Carver

Rob Carver is back this week speaking with Alan Dunne about constructing and assessing trend following and non-trend following trading strategies. We delve into mean reversion strategies and over what time frames they might be effective and what are the pitfalls in trying to combine trend following with mean reversion. We also discuss the theory and reality of the benefits of faster trend following, Rob’s experience of this and his approach avoiding over-fitting when constructing trading strateg

Oct 21, 2023 • 1:02:28

GAL6: UAPs - What Are We Really Dealing With? ft. Larry Hancock

GAL6: UAPs - What Are We Really Dealing With? ft. Larry Hancock

There is no secret more carefully guarded than that of how to make atomic weapons. Nuclear technology can power us with clean energy or destroy all of human civilization. It has been alleged for decades that there is a correlation between UAP encounters and nukes, a suggestion that seems intuitive because if an advanced civilization was monitoring us, any breakthroughs in nuclear physics would certainly represent a key developmental milestone. In this episode join our Galactic Macro series host

Oct 18, 2023 • 59:49

SI265: Deep Dive Into Non-Trend Complementary Strategies ft. Nick Baltas

SI265: Deep Dive Into Non-Trend Complementary Strategies ft. Nick Baltas

Nick Baltas is back this week to talk about the use of non-trend strategies in diversified managed futures portfolios. What is the rationale for the existence of a carry risk premia? How durable are the returns? What are some of the key thing things to keep in mind implementing a carry strategy? These are some of the questions we discuss as we deep dive into the use of carry alongside trend following. We also discuss reversion strategies and how skewness plays a part in their construction. And

Oct 14, 2023 • 1:03:55

ALO16: Beyond 60-40... A Bold Approach to Asset Allocation ft. Troy Gayeski

ALO16: Beyond 60-40... A Bold Approach to Asset Allocation ft. Troy Gayeski

Troy Gayeski, Chief Market Strategist for FS Investments, joins us today to discuss asset allocation and investment opportunities in today’s higher yield environment. We discuss how higher interests rates are impacting the risk and reward across capital markets and why higher interest rates mean equity valuations may be stretched at the current juncture. We discuss how asset allocation has evolved from the 60-40 benchmark to a 40-30-30 allocation for many institutional investors with a 30%

Oct 11, 2023 • 1:04:00

SI264: The Evolution of the Trend Following Industry ft. Andrew Beer & Alan Dunne

SI264: The Evolution of the Trend Following Industry ft. Andrew Beer & Alan Dunne

Andrew Beer joins us to discuss a recent research report from Morningstar (called Market Wizards Wave Their Wands but Investors Miss the Magic) which highlights the challenges investors have in timing managed futures allocations. We get Andrew’s perspective on the evolution of the managed futures industry, particularly the evolving ETF and UCITS markets and discuss whether the CTA industry is on the road to commoditisation. We wrap up discussing a recent FT article which suggests more attracti

Oct 7, 2023 • 1:01:50

GM51: Allocating Assets when Goldilocks Inverse ft. Christian Mueller-Glissmann

GM51: Allocating Assets when Goldilocks Inverse ft. Christian Mueller-Glissmann

Goldman Sachs Head of Asset Allocation Research, Christian Mueller-Glissmann shares his current investment framework with Cem Karsan and I today. It's an important conversation as it touches on so many of the most important questions that investors, individual as well as institutional, are faced with right now. How we as investors should allocate our capital taking into account the ever changing Global Macro regimes was fascinating to explore, with one of the sharpest thinkers on this topic. Lik

Oct 4, 2023 • 1:04:53

SI263: Changes aren't permanent, but change is ft. Mark Rzepczynski

SI263: Changes aren't permanent, but change is ft. Mark Rzepczynski

Q3 is behind us, and we take stock of how is the trend following industry holding up? Is passthrough fees becoming a problem for investors in the multi-strategy space? Do we still have a bubble economy? Have we lost our imagination of what can happen in the economy? And why is it important to understand psychology when building models? Join us for this fascinating conversation with Mark Rzepczynski where we discuss this, and much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer &amp

Sep 30, 2023 • 1:06:09

GM50: A Century of Disorder ft. Helen Thompson

GM50: A Century of Disorder ft. Helen Thompson

Join us for a thought-provoking conversation with Professor Helen Thompson of Cambridge University, author of Disorder: Hard Times in the 21st Century, as we take a big picture perspective on the current global macro landscape. A key focus of Helen’s work is the role of energy markets in understanding global macro developments and we delve into Europe’s energy dependence on Russia. We hear about the factors which enabled Europe avoid an energy shortage in the winter of 2022 but why energy marke

Sep 27, 2023 • 1:02:08

SI262: Opportunities in FX fueled by the FED ft. Alan Dunne

SI262: Opportunities in FX fueled by the FED ft. Alan Dunne

Tune in for this week’s trend following conversation with Alan Dunne, where we discuss Barry Eichengreen’s paper on living with high public debt and how the high level of debt can be addressed, the relationship between interest rates and GDP, how Forex trading have evolved over time and why it is having a renaissance at the moment. We also discuss return expectations in markets and diversified strategies and Alan reports what he experienced from a recent investor event in Paris.-----EXCEPTIONAL

Sep 23, 2023 • 1:02:37

IL21: How China Manages Their FX Reserves ft. Zongyuan Zoe Liu

IL21: How China Manages Their FX Reserves ft. Zongyuan Zoe Liu

In this episode we lift the veil on China’s often secretive system for managing its multi-trillion dollar holdings of foreign assets. Guiding us through the discussion is Dr. Zhongyuan Zoe Liu, the Maurice R. Greenberg fellow for China studies at the Council on Foreign Relations. Dr. Liu spent years researching financial reports and conducting in-person interviews with those involved in running China’s multiple “Sovereign Leveraged Funds”. We discuss how they evolved, what purposes they serve

Sep 20, 2023 • 59:27

SI261: The Biggest Story in Asset Allocation ft. Nick Baltas

SI261: The Biggest Story in Asset Allocation ft. Nick Baltas

Today Nick Baltas and I embark on a journey through the shifting tides of investment strategy. For decades, equities have reigned supreme as the primary source of portfolio returns, while bonds played a crucial role as diversifiers. But over the past two decades, something intriguing has happened, and the dynamic between these two asset classes has evolved in ways we've never seen before. Stay tuned as we unravel the fascinating story of this transformation and explore what it means for modern i

Sep 16, 2023 • 59:19

GM49: Unveiling the Power of Confidence ft. Peter Atwater

GM49: Unveiling the Power of Confidence ft. Peter Atwater

Join us for a captivating episode where we delve into the hidden influence of confidence in our decision-making. Discover why seemingly unprecedented events are often predictable with the right insights. Peter Atwater provides an accessible framework for understanding confidence, helping us navigate uncertainty and lack of control. Our conversation delves into how confidence impacts politics and the economy, as well as how we can nurture confidence in the younger generation to face life's challe

Sep 13, 2023 • 1:13:24

SI260: The Voldemort of the Asset Management Business ft. Andrew Beer

SI260: The Voldemort of the Asset Management Business ft. Andrew Beer

Is the economy actually doing better than we expected? This week we are joined by Andrew Beer, where we discuss the use of replication strategies in the current economic environment and how many markets/factors you should include, how managers can differentiate themselves from each other and the outlook for growth in the CTA industry. We also discuss the challenges of the Lemming effect in investing and today’s obsession with multi-strategy hedge funds, the capacity of the trend following indust

Sep 9, 2023 • 1:16:35

GAL05: Pumping the BRICS Agenda & Hidden Risks ft. Nelson Rangel

GAL05: Pumping the BRICS Agenda & Hidden Risks ft. Nelson Rangel

In this episode we are joined by a true Macro thinker, Nelson Rangel, CIO at Raven Capital. Nelson walks us through his fascinating lens of the world evolved from his formative career years where his mentors taught him chaos theory and quantitative analysis. The conversation delves in to global conflict, adapting to social media information flows, and the challenges of finding investment value in LATAM markets. Be sure to stick around to the very end where Nelson leaves us with a cliff hanger as

Sep 6, 2023 • 58:59

SI259: Trend Following & the New Normal ft. Katy Kaminski

SI259: Trend Following & the New Normal ft. Katy Kaminski

Today, we welcome Katy Kaminski to the Systematic Investor Series, as we dive deep into trend following systems and how to overcome the unintended biases that can creep into CTA systems, why Katy believes everybody has to “go back to the drawing board”, why it is unrealistic to expect things to go back to “normal”, and why Katy believes we are not in a crisis but rather a correction. We also discuss how a crisis is in the eye of the beholder and shed light on the current global macro narrative.

Sep 2, 2023 • 1:01:02

GM48: Resilient Growth BUT Economic Downturn Ahead ft. Chen Zhao

GM48: Resilient Growth BUT Economic Downturn Ahead ft. Chen Zhao

Chen Zhao, co-founder and Chief Global Strategist at Alpine Macro joins us today to outline why growth has been resilient in 2023 but why he sees deflation and an economic downturn as a rising risk as we move into in 2024. We hear why the best global macro trades are the hardest to hold and why he believes long fixed income is the best trade at the moment. We discuss the long term outlook for growth and inflation in the major economies and hear why Chen is dismissive of the idea that deglobalisa

Aug 30, 2023 • 57:07

SI258: Absolute Momentum in a Chaotic Environment ft. Richard Brennan

SI258: Absolute Momentum in a Chaotic Environment ft. Richard Brennan

Richard Brennan is back to discuss the lurking uncertainty in the economy and take a deep dive into absolute momentum. What is it, how is it used and how does it relate to trend following? How does complex systems really function and evolve over time and what role does correlation play in system design? And financial markets is in fact chaotic systems, then how do predictive modellers trade them? Is there an edge from price following techniques in their ability to trade in highly complex and som

Aug 26, 2023 • 1:26:22

IL20: How to Survive the Current Fourth Turning ft. Neil Howe

IL20: How to Survive the Current Fourth Turning ft. Neil Howe

Best-selling author and renowned historian Neil Howe joins the show to talk about his New York Times’ bestselling book The Fourth Turning Is Here. Neil believes history moves in generational cycles that last about the length of one long human life. Each cycle has four eras - Turnings - that always arrive in the same order and last about twenty years. We are now midway through a Fourth Turning which is a time of exceptional upheaval and conflict. Previous Fourth Turnings happened during the

Aug 23, 2023 • 1:22:27

SI257: Preparing for a Volatile Future ft. Cem Karsan

SI257: Preparing for a Volatile Future ft. Cem Karsan

Cem Karsan joins us for a wide ranging conversation where we discuss the current volatility environment and if vol trading can actually be predictable, the current Fourth Turning and how this will impact the level of volatility and where Cem’s outlook differ from Neil Howe's, why demographics is “destiny” and the current tug of war between flows and macro. We also discuss why Cem is watching NASDAQ so closely and the historic rotations that are happening in markets at the moment, why Cem believe

Aug 19, 2023 • 1:08:14

GM47: Is the Economy Actually Doing Better Than Expected? ft. Peter Berezin

GM47: Is the Economy Actually Doing Better Than Expected? ft. Peter Berezin

Peter Berezin, Chief Global Strategist and Research Director at BCA Research joins us today for a wide ranging discussion on the outlook for global economy and global capital markets. We hear why Peter has been more upbeat than the consensus on the outlook for the US economy but why he continues to believe that the outlook is for recession next year. He outlines why US stocks may continue to make gains in the near term but the outlook is much more challenging on a five-year view. We discuss his

Aug 16, 2023 • 1:00:46

SI256: Investor Behaviour & the How to Deal with Transaction Costs ft. Mark Rzepczynski

SI256: Investor Behaviour & the How to Deal with Transaction Costs ft. Mark Rzepczynski

Mark Rzepczynski is back to tackle some important topics relating to systematic trading. We discuss whether there is a best time of the year to trade and what has been driving the markets recently, how high interest rates and uncertainty affect investor behaviour, dispersion within markets and how it influences your trend following return. We also discuss quant research, the motivated reasoning bias and the importance of being open minded as a researcher to find better ways of being a trend foll

Aug 12, 2023 • 1:02:38

IL19: Revolutionary Technology & the Coming Economic Boom ft. Mark P. Mills

IL19: Revolutionary Technology & the Coming Economic Boom ft. Mark P. Mills

Mark Mills joins us to discuss his new book The Cloud Revolution: How The Convergence of New Technologies Will Unleash the Next Economic Boom and a Roaring 2020’s. Mark is a senior fellow at the Manhattan Institute, a faculty fellow at Northwestern’s engineering school and a strategic partner in energy-tech venture fund Montrose Lane. In our conversation Mark explains how advances on three fronts - information, machines and materials - are converging in a way that is going to propel a surge in

Aug 9, 2023 • 1:00:26

SI255: A Treasury Tsunami & Slow Burning Minsky Moments ft. Alan Dunne

SI255: A Treasury Tsunami & Slow Burning Minsky Moments ft. Alan Dunne

Today, I'm joined by Alan Dunne to discuss the ‘treasury tsunami’ and the current challenges that the economy faces, the state of the Japanese and Chinese economy and the fear of ‘Japanification’, what is a reasonable return expectation for the different asset classes and why you should allocate to trend following despite the scepticism surrounding it. We also discuss how we are witnessing a slow burning Minsky moment in terms of debt and the refinancing risks that will emerge in the coming year

Aug 5, 2023 • 1:10:34

GAL04: Expanding Your Consciousness and Reality ft. Mark Gober

GAL04: Expanding Your Consciousness and Reality ft. Mark Gober

Do you ever have that feeling someone is staring at you? You turn around and find someone looking at you. What causes that? We get the answer in this episode of our Galactic Macro series as we sit down with Mark Gober, author, and board director at Apollo 14 astronaut Edgar Mitchell’s Institute of Noetic Sciences. Mark explains to us the science behind extra sensory perception, near death experiences, UAP and then shows the one thing they all have in common - consciousness, the ultimate technolo

Aug 2, 2023 • 1:03:09

TTU145: All In on Trend Following ft. Jerry Parker, Founder of Chesapeake Capital

TTU145: All In on Trend Following ft. Jerry Parker, Founder of Chesapeake Capital

Jerry Parker, Founder of Chesapeake Capital is perhaps the most successful of the famous group of Turtles, and today we discuss what he has learned from his 40+ years love affair with Trend Following, and how he has evolved his CTA program. We debate the challenges of using the Sharpe Ratio and what improvement really look like, how he uses volatility in his trend following process and the conflicts that can arise when working with clients. We also find out why Jerry believes you can be a good

Jul 31, 2023 • 1:09:57

SI254: Does Trend Following Single Stocks Make Sense? ft. Nick Baltas

SI254: Does Trend Following Single Stocks Make Sense? ft. Nick Baltas

Nick Baltas returns to discuss single stock trend momentum dynamics and more. With his usual academic elegance, Nick dives into Portfolio Construction and Risk Management, Static vs. Dynamic positioning, how to apply each type in your trading, and why one is not “better” than the other, the key factors of portfolio construction and why the difference between cross-sectional and time-series momentum is important to understand. We also discuss trend following in single stocks and why it is a compl

Jul 29, 2023 • 1:02:31

ALO15: Exploring Today's Investment Opportunities ft. Christopher Zook

ALO15: Exploring Today's Investment Opportunities ft. Christopher Zook

Christopher Zook, Founder, Chairman and CIO of CAZ Investments joins us for fascinating and thought-provoking conversation on the outlook for the economy and the investment opportunities in current markets. Christopher explains why he thinks the risk-reward is so poor in public equity markets at the moment and why investors are being offered poor prospective returns for the risk. We discuss private markets and the areas where CAZ is focused on allocating capital, particularly sports franchises a

Jul 26, 2023 • 1:07:22

SI253: A New Trend Following ETF is Born ft. Andrew Beer & Jerry Parker

SI253: A New Trend Following ETF is Born ft. Andrew Beer & Jerry Parker

Today, we are joined by Andrew Beer and Jerry Parker for a fascinating conversation about the different approches to trend following within the ETF landscape. We discuss what the role trend following should play in a portfolio, the best approach to staying diversified, and where the growth might come from in the ETF space. We also discuss a few more controversial topics like fees, and why Jerry view trend following and managed futures as 2 different things and much more. -----EXCEPTIONAL RE

Jul 22, 2023 • 1:14:07

GAL03: Global Conflicts and the Trajectory of Humanity ft. Dr. Paul Sullivan

GAL03: Global Conflicts and the Trajectory of Humanity ft. Dr. Paul Sullivan

When it comes to global conflict and understanding the limits of Earth's resources the man to turn to is Dr. Paul Sullivan. Paul is a seasoned professor that has taught at several of the world's leading universities and influenced the thinking of students that are now some of the DOD's top brass as well as world leaders. His depth of understanding and commitment to a lifetime of learning is uncommon in a world of short attention spans. We sit with Paul in this conversation to understand his curr

Jul 19, 2023 • 1:19:46

SI252: From Crypto Sceptic to Crypto Adviser ft. Rob Carver

SI252: From Crypto Sceptic to Crypto Adviser ft. Rob Carver

Rob Carver joins me to reveal some surprising news about his new “job”. We discuss portfolio optimization and why you should be concerned about certain types optimization techniques, why Rob believes trend following a trend following ETF is a bad idea, when is the best time to buy trend followers and how to use factors when applying an exponential moving average. We also discuss safe trading and how to achieve the most diversification for your portfolio, the dodgy behaviour that exists in the cr

Jul 15, 2023 • 1:07:00

IL18: We Need to Talk About Inflation ft. Stephen King

IL18: We Need to Talk About Inflation ft. Stephen King

HSBC Senior Economic Adviser Stephen King joins the show to discuss the most important long-term issue facing western economies: inflation. Stephen’s new book - We Need To Talk About Inflation - is an FT “book to read in 2023” for good reasons. He explains why inflation is not just about money creation, it also depends on public perceptions and the fatal temptation of governments to usurp central bank independence (what he calls the Richard Burton - Elizabeth Taylor rule). Stephen expl

Jul 12, 2023 • 1:14:39

SI251: A Deep Dive Into Models and Systems ft. Richard Brennan

SI251: A Deep Dive Into Models and Systems ft. Richard Brennan

Richard Brennan returns for a true trend following conversation where we dive deep into the construction of models and systems. We discuss why long-term trading are often preferred by many trend followers and what we can learn from acoustics and physics in terms of noise and signals, how to get the most diversification from highly correlated markets through system design and why you should trade with an ensemble of markets. We also discuss how complex adaptive systems evolve over time, how to un

Jul 8, 2023 • 1:02:54

GM46: An Emerging Market Boom of Epic Proportion ft. Louis-Vincent Gave

GM46: An Emerging Market Boom of Epic Proportion ft. Louis-Vincent Gave

Today we are joined by Louis-Vincent Gave of Gavekal Research for a fascinating discussion on the key global macro trends impacting markets. Louis outlines his case for why the consensus is wrong to expect a US recession and why he sees accommodative US fiscal policy as a key driver of the economy in the next 1-2 years. We discuss the upside and downside risks to inflation and how weather patterns may be an underappreciated risk to inflation in the next 1-2 years. One of Louis’ key calls is an u

Jul 5, 2023 • 1:03:10

SI250: Tour de Volatility ft. Cem Karsan

SI250: Tour de Volatility ft. Cem Karsan

Cem Karsan joins me for a tour of the current volatility and macro environment, where we take a deep dive into where markets and economy are heading. We discuss the potential of the economy going into stagflation and why many investors might not be prepared for what is to come, the unpredictable volatility environment and how technology like AI is affecting markets. We also discuss the potential dangers of zero day options and how to position yourself appropriately for the markets, how to prepar

Jul 1, 2023 • 1:00:29

GAL02: The Blind Spot of AI & UAPs ft. Izabella Kaminska & Dario Garcia Garner

GAL02: The Blind Spot of AI & UAPs ft. Izabella Kaminska & Dario Garcia Garner

There are few instincts sharper than those of a talented journalist. Izabella Kaminska, founder and editor of The Blind Spot, and her colleague Dario Garcia Giner have those instincts in spades. While still at the Financial Times, on December 10, 2021, Izabella penned a thought provoking article titled Do portfolios have a UAP risk?. Long before anyone was talking about UAP in the financial sector Izabella recognized that this taboo subject could impact markets and was worth paying attention to.

Jun 28, 2023 • 1:15:32

SI249: Unfulfilled Expectations in 1st Half of 2023 ft. Mark Rzepczynski

SI249: Unfulfilled Expectations in 1st Half of 2023 ft. Mark Rzepczynski

Today, Mark Rzepczynsky joins me to discuss momentum gap and why momentum is a core component of all markets, the concept of "stretch" and when to enter and exit trades at the right time, dislocations in markets and how AI may or may not affect the trend following space. We then review all the things we were "promised" would happen in the first half of 2023...but did not! And to round things off, we dive into what causes models to fail and why there are many ways to interpret the success of a mo

Jun 24, 2023 • 1:04:40

GAL01: Galactic Macro...The New Investment Frontier ft. Jay Anderson

GAL01: Galactic Macro...The New Investment Frontier ft. Jay Anderson

2023 is a year for the record books as world changing technologies such as AI once believed to be science fiction become science fact. The most exotic technologies, however, are thought to be related to Unidentified Anomalous Phenomenon and may also have an AI connection. At the vanguard of the new generation of UAP researchers is Jay Anderson. He kicks off our Galactic Macro series with David Dorr as they discuss the breathtaking disclosures coming out of the U.S. Pentagon and connect the dots

Jun 21, 2023 • 1:18:25

SI248: Trend Following, AI & Mastering Risk Management ft. Alan Dunne

SI248: Trend Following, AI & Mastering Risk Management ft. Alan Dunne

Alan Dunne returns to the show following a busy week of Fed action and economic activity. We discuss how technology like artificial intelligence impacts the economy and investors, both currently and in the future, the use of machine learning trend following and why it is important to be aware of your own biases. We also discuss what constitutes good risk management and why risk management is key to any successful investor, the evolution of risk management and much more.-----EXCEPTIONAL RESOURCE:

Jun 17, 2023 • 1:05:20

GM45: A Geopolitical Mosh Pit ft. Michael Kao

GM45: A Geopolitical Mosh Pit ft. Michael Kao

As has become clear in the past couple of years, the interconnection between Macro Economics and Geo-Politics is stronger today than ever before in our lifetime. And who better to explain this mosh pit than the Ubankaoboy himself, Michael Kao who joins me and Cem Karsan for a fascinating and wide ranging conversation. We cover topics like China's debt problem, Oil and the mistakes the US are making as we speak, OPEC+ as well has hear Michael, who's parents fled from China to Taiwan, describe an

Jun 14, 2023 • 59:58

SI247: What is Smart Diversification? ft. Nick Baltas

SI247: What is Smart Diversification? ft. Nick Baltas

Today, Nick Baltas return to the show for a look at some recent published research papers by our friends over at Quantica and AQR. Despite our technical difficulties with my audio and notes...we discuss the timing and speed of executing trades and the pros and cons of trend following compared to stocks and bonds, how to achieve the best protection whilst maximizing returns during times of trouble in equities or higher interest rates and why short term strategies does not necessarily give you bet

Jun 10, 2023 • 1:09:45

GM44: Insights From Inside Credit Suisse  ft. Mika Kastenholz

GM44: Insights From Inside Credit Suisse ft. Mika Kastenholz

Our guest Mika Kastenholz shares his insights running a global, cross-asset class macro trading business within a major investment bank in this episode. We learn about potential volatility mismatches in the equity index and fixed income markets, distortions in the yield curve caused by regulatory changes, and a general decline in the appetite for risk taking in the banking sector post-2008. Mika also discusses the viability of crisis prediction using quantitative models, and positioning risk in

Jun 7, 2023 • 1:03:08

SI246: The BIG CTA ETF Debate ft. Andrew Beer & Tim Pickering

SI246: The BIG CTA ETF Debate ft. Andrew Beer & Tim Pickering

Today, we are joined by Andrew Beer and Tim Pickering for a heated debate on some of the most important changes that we are seeing in the CTA industry. We discuss how ETFs can be used in the CTA industry and the pros and cons of using indices to represent manager performance, why Tim and Andrew are fundamentally different in how they approach the way retail investors can access CTA strategies and how they disagree on the definition of "pure alpha", the use of replication strategies and much more

Jun 3, 2023 • 1:24:56

ALO14: Investing for a Decade of Dispersion ft. Clint Stone

ALO14: Investing for a Decade of Dispersion ft. Clint Stone

Today we are joined by Clint Stone SVP of Investments at the Larry H Miller Company to hear about running an endowment style investment approach at a family office. We discuss Clint’s approach to asset allocation which is focused on long term capital appreciation. A key pillar of the portfolio is a large allocation to private markets and we discuss the rationals for this. We delve into the foundation’s approach to portfolio construction, how to estimate the volatility of private markets exposure

May 31, 2023 • 1:12:10

SI245: Which CTA Should You Buy ft. Rob Carver

SI245: Which CTA Should You Buy ft. Rob Carver

Rob Carver is back to discuss the economic unpredictability that has defined this year so far and how Rob approaches backtesting his system, how to make a signal continuous in a discrete system and if there are ways to figuring out when is the right time to trend follow. We also unpack what Rob means by “you can’t eat sharpe ratio” and what he would change in his strategy if he had more resources available. We then turn to discuss the CTA industry and how to find out which CTA you should buy, wh

May 27, 2023 • 1:05:03

GM43: On the Verge of Recession ft. David Rosenberg

GM43: On the Verge of Recession ft. David Rosenberg

Join us for a thought-provoking conversation with David Rosenberg of Rosenberg Research as we discuss the global macro outlook and why David believes the US economy is on the verge of recession. We examine the parallels between the current economic cycle and past cycles, particularly the 1920s and 1970s, and discuss how past Fed tightening cycles have played out for the economy and asset prices. David lays out his case for why he is sceptical of the narrative that inflation will remain sticky an

May 24, 2023 • 1:06:12

TTU144: Turtle Trading 2.0? ft. Brian Proctor, Managing Director at EMC Capital Advisors

TTU144: Turtle Trading 2.0? ft. Brian Proctor, Managing Director at EMC Capital Advisors

Join us as we sit down with Brian Proctor, Managing Director at EMC Capital Advisors, for an insightful conversation on the evolution of their trading methodology since the early days of the Turtle Program. Discover what sets them apart from competitors and the key factors they believe contribute to a successful CTA. Explore their use of algorithms to balance risk in a volatile market and how trading systems can adapt while staying true to their origins. Gain insights into their approach to mana

May 22, 2023 • 1:07:58

SI244: Trend Following - How to Hunt them & Select a Manager ft. Richard Brennan

SI244: Trend Following - How to Hunt them & Select a Manager ft. Richard Brennan

Richard Brennan returns to discuss the idea of applying trend following on a shorter term time frame and why this might not make sense, the most optimal solutions for selecting managers, how to best avoid selection bias in the process and why the validated track record of a fund manager is so important. We also discuss how the analogy of hunting on the savana can be applied to trend following and what a cheetah and a spider can teach us about hunting trends and much more.-----EXCEPTIONAL RESOURC

May 20, 2023 • 58:00

GM42: What's Coming for Oil, Gas, Gold & Metals ft. Adam Rozencwajg

GM42: What's Coming for Oil, Gas, Gold & Metals ft. Adam Rozencwajg

If you're curious about the state of natural resources in today's market, this episode is for you. Our guest Adam Rozencwajg shares his insights on a wide range of topics when it comes to the global commodity markets. Discover why oil is struggling to surpass $80 despite the OIL Put, OPEC's surprise production cuts, and China's reopening. We also explore why US and European Nat Gas prices have yet to converge, and the outlook for Gold as it sits close to all-time highs. Finally, we discuss the f

May 17, 2023 • 1:18:41

SI243: Sell in May and Go Away...Really ft. Cem Karsan

SI243: Sell in May and Go Away...Really ft. Cem Karsan

Join us for a conversation with Cem Karsan, where we discuss the likelihood of the US economy going into stagflation and how we are at an interesting inflection point in terms of market risk as we head into the summer. We also get into how panic is akin to death in positioning and how artificial intelligence may affect us as investors. And finally we dig into Cem’s outlook for earnings and price and how passive investing can become uninvestable, things that would make Cem change his bearish view

May 13, 2023 • 1:07:21

IL17: The Dangers to Democracy ft. Martin Wolf

IL17: The Dangers to Democracy ft. Martin Wolf

This episode features a discussion with Martin Wolf, the FT’s Chief Economics Commentator and “the world’s preeminent financial journalist”. Wolf’s new book The Crisis of Democratic Capitalism explains why the marriage between democracy and capitalism is breaking down, not from external threats but from within. He expands on these internal threats during our conversation, which he believes have the potential to end US democracy in the coming years and in his book he outlines a range of critical

May 10, 2023 • 54:11

SI242: How to Detect when the Trend Changes ft. Mark Rzepczynski

SI242: How to Detect when the Trend Changes ft. Mark Rzepczynski

Today I'm joined by Mark Rzepczynsky following the quarterly meeting of the TBAC in a week where the FED also raised interest rates. We discuss the concept of inertia and how it can be applied to economics and markets, why it is important to have macro awareness whilst being concious of the level of complexity to ensure your model remains robust. We also discuss the idea of "warner vs. warnee" in a crisis situation and how it can cause inefficiency and dislocations in markets, how to respond to

May 6, 2023 • 1:08:28

GM41: Global Macro Face Off ft. Cem Karsan & Alfonso Peccatiello

GM41: Global Macro Face Off ft. Cem Karsan & Alfonso Peccatiello

If you liked last week’s Global Macro conversation with Cem Karsan you are going to LOVE this epic Macro debate as he and Alfonso Peccatiello, aka MacroAlf, go head to head on the most pressing topics of our time. From inflation and interest rates to De-Dollarization, China, Geo-Politics, Oil, Gold, and more, these two brilliant macro thinkers challenge each other's perspectives in a thought-provoking and engaging conversation. Despite their differences, they also find some common ground. Don't

May 3, 2023 • 1:19:40

SI241: Trend Following...The Perfect Risk Mitigation Strategy ft. Alan Dunne

SI241: Trend Following...The Perfect Risk Mitigation Strategy ft. Alan Dunne

Alan Dunne returns to the show for a weekly conversation on Trend Following, where we reflect on the current global macro environment and the challenges that markets are facing at the moment. We discuss how to approach the percentage allocation to Trend Following when reaching retirement age and the current drawdowns that we see in the trend space, how to use risk mitigation strategies to create a more robust portfolio and how pension funds might end up filling the entire trend following space.

Apr 28, 2023 • 1:06:54

GM40: The Risk of Volatility Exploding...Soon ft. Cem Karsan

GM40: The Risk of Volatility Exploding...Soon ft. Cem Karsan

Join us for an enlightening conversation with Cem Karsan, where we dive deep into the state of the volatility markets and the risks that come with the current low volatility environment. We explore the lagging effects of FED actions and their impact on the markets, as well as the potential impact of inflation, the upcoming US election season, and the current US debt ceiling situation. Get ready for a thought-provoking discussion on the current state of the markets and the challenges facing inves

Apr 26, 2023 • 1:03:20

SI240: Trend Following... More Than Just Vol Scaling? ft. Nick Baltas

SI240: Trend Following... More Than Just Vol Scaling? ft. Nick Baltas

Join us for a compelling conversation with Nick Baltas on the topic of trend following, where we explore the rising appetite for institutions to buy-the-dip in fixed income markets and how the SVB event has impacted liquidity. Discover if you can time trend following by adding additional signals to your model, the academic sceptisism of timeseries momentum as a strategy and why trend following goes beyond volatility scaling. We also delve into the scientific versus practical approach to trend fo

Apr 23, 2023 • 1:11:24

IL16: False Narratives - A Path to a World of Conflict ft. Stephen Roach

IL16: False Narratives - A Path to a World of Conflict ft. Stephen Roach

Get ready for a thought-provoking conversation with Stephen Roach, former Chief Economist at Morgan Stanley and current Senior Fellow at Yale’s Paul Tsai China Center, as he delves into the deteriorating relationship between China and the US. With his new book "Accidental Conflict: America, China and the Clash of False Narratives", Stephen unravels the narratives that led to this new Cold War and provides a clear path towards interdependency and healthier economies. With his unique perspective a

Apr 19, 2023 • 1:01:25

TTU143: How to stay Sharpe ft. Guillaume Jamet, Co-CIO at Metori Capital Management

TTU143: How to stay Sharpe ft. Guillaume Jamet, Co-CIO at Metori Capital Management

Guillaume Jamet, Co-CIO at Metori Capital Management joins us for a conversation on how pivoting to a rigorous scientific approach uncovered ways of better capturing trends in markets. We discuss his "alternative" view on Sharpe and why being a trend following CTA is not as easy as it might seem and how they break down conventional rules in markets to fix what is not working. We also uncover how Guillaume would approach manager selection if he was on the other side of the table and the pros and

Apr 17, 2023 • 1:04:23

SI239: CTAs Profits from Food Crisis...True or False? ft. Andrew Beer

SI239: CTAs Profits from Food Crisis...True or False? ft. Andrew Beer

Join us for a riveting conversation with Andrew Beer, where we dive deep into the world of systematic trend following, CTA Replication, and much more. As we explore the current state of central banks, we uncover the challenges that come with investing during periods when yields rise. Andrew shares his insights on why the language used in portfolio management can be misleading and what happens when we can't rely on banks being safe. Then we get into what has been going on in the world of CTA Repl

Apr 16, 2023 • 1:05:12

GM39: The Secrets of a Natural Resource Speculator ft. Rick Rule

GM39: The Secrets of a Natural Resource Speculator ft. Rick Rule

Join us for an insightful and personal conversation with Rick Rule, a renowned investor and speculator with decades of experience in sub $1,000,000,000 market capitalisation public and private issuers in natural resource industries. With a track record of structuring and leading numerous debt and equity issuances for resource companies worldwide, Mr. Rule shares his expertise on navigating the complexities of this unique market. As a sought-after speaker at investment conferences, he offers valu

Apr 12, 2023 • 1:21:50

TTU142: The Contrarian ft. Roy Niederhoffer, President of R.G. Niederhoffer Capital Management

TTU142: The Contrarian ft. Roy Niederhoffer, President of R.G. Niederhoffer Capital Management

Buckle up for a fascinating conversation with Roy Niederhoffer, President of R.G. Niederhoffer Capital Management, as he shares insights on managing a billion USD through short-term trading. Discover why he's chosen this approach and how he's overcome its challenges. You'll also gain valuable insights on human biases surrounding the Sharpe Ratio, the impact of an inverted yield curve on longer-term trend following strategies, and why Roy "has PTSD" from investing in the stock market. Dive deep i

Apr 10, 2023 • 1:09:25

SI238: Why Not to Trend Follow ft. Rob Carver

SI238: Why Not to Trend Follow ft. Rob Carver

Join us for an engaging conversation with Rob Carver, where we delve into the world of systematic trend following. We explore topics like how to forecast future market volatility and the pros and cons of using a Value at Risk methodology. We also discuss the benefits and drawbacks of tail risk hedging, and whether percentage or price differences are better for estimating standard deviation. As a surprise twist, we also explore the reasons why you should NOT be a trend follower. Tune in for a fun

Apr 8, 2023 • 1:12:35

GM38: Debt, Stagnation and Policy Responses ft. Barry Eichengreen

GM38: Debt, Stagnation and Policy Responses ft. Barry Eichengreen

Join us for a thought-provoking conversation with Professor Barry Eichengreen, Professor of Economic and Political Science at University of California, Berkeley as we discuss what we can learn from economic history in the current volatile global macro environment. We discuss the uses and misuses of history and look at what history tells us about the policy response to the current strains in the banking system. We delve into Professor Eichengreen’s work on the long term outlook for the US dollar,

Apr 5, 2023 • 1:03:09

TTU141: The Alternative Trendfollower ft. Douglas Greenig, CEO of Florin Court

TTU141: The Alternative Trendfollower ft. Douglas Greenig, CEO of Florin Court

Join us for an in-depth conversation with Douglas Greenig, CEO of Florin Court, as we explore their unique approach to managing $2 billion in assets using a systematic trend following program focused on alternative markets. Discover how they navigate the current macro environment by prioritizing skew over the traditional Sharpe ratio, their process for uncovering new markets, and their strategies for managing risk and uncertainty during times of crisis. We dive deep into their trend following im

Apr 3, 2023 • 1:12:49

SI237: Trend Following During March Madness ft. Richard Brennan

SI237: Trend Following During March Madness ft. Richard Brennan

Join us for an eye-opening conversation with Richard Brennan, as we explore the world of trend following and delve deep into the unusual moves in fixed income markets and its impact on trend following performance during a month of March Madness. Discover how the design of trend following strategies allow it to be “prepared” for unforeseen events without overcomplicating the investment approach, and find out why choosing the right strategy and manager is all about personal preference. Rich reveal

Apr 2, 2023 • 1:15:29

IL15: Preparing for a De-Globalized World ft. Rana Foroohar

IL15: Preparing for a De-Globalized World ft. Rana Foroohar

Join us for a thought-provoking conversation with Rana Foroohar, global business columnist and author of "Homecoming: The Path to Prosperity in a Post Global World". In this episode, Rana discusses the need for a localized economy to find a balance between the power of big government and large corporations. We explore how a prosperous, localized economy can be created by retethering wealth and place and talking about people and organizations that are already making it happen. From the problem wi

Mar 29, 2023 • 1:00:11

TTU140: Why Trend Following is Smart Diversification ft. Bruno Gmür, Founder of Quantica

TTU140: Why Trend Following is Smart Diversification ft. Bruno Gmür, Founder of Quantica

Get ready for an engaging conversation with Bruno Gmür, the Founder and CIO of Quantica Capital, as we explore their unique approach to systematic diversified trend following. Join us as we dive into the world of relative trend following and why volatility isn't always the right measure of risk. Bruno shares his insights on the challenges of estimating covariance matrices and expected returns during times of crisis, and how to create robust models to mitigate risk and prepare for market shocks.

Mar 27, 2023 • 1:20:48

SI236: New Opportunities in Volatility Trading ft. Cem Karsan

SI236: New Opportunities in Volatility Trading ft. Cem Karsan

Join us for an insightful conversation with Cem Karsan as he sheds light on the current financial landscape, from the recent banking crashes to Central Bank Rate Hikes and Geo-Political developments. Discover the reasons behind the unprecedented moves in the volatility space and how they're impacting different strategies, including trend following. Cem shares his thoughts on the critical importance of positioning and why volatility strategies are currently facing tough times. We'll also delve in

Mar 25, 2023 • 1:04:58

IL14: Is India Broken? - The Dangerous Equilibrium of Indian Society ft. Ashoka Mody

IL14: Is India Broken? - The Dangerous Equilibrium of Indian Society ft. Ashoka Mody

This is an episode for those who want to hear an alternative view of the world's largest country. McKinsey has said we are living in the “Indian Century”. Morgan Stanley believes 20 percent of global growth in the next decade will come from India. Our guest today, Princeton economist Ashoka Mody, has a different view, which he details in his new book: “India Is Broken”. He argues that there are two Indias, a successful, highly skilled and educated elite and a billion-plus population that remains

Mar 22, 2023 • 1:04:56

TTU139: The Benefits of Alternative Markets ft. Simon Judes, Co-CIO at Winton

TTU139: The Benefits of Alternative Markets ft. Simon Judes, Co-CIO at Winton

Today, we are joined by Simon Judes, Co-CIO at Winton for a conversation on how they use quantitative investment strategies and statistical research to generate alpha. We discuss how the characterization of Crisis Alpha has the potential to be misleading and why the speed of your trading should be determined by your objective, their process of discovering new ideas through research and the pitfalls of relying too heavily on automation. We also discuss how they stay diversified through alternativ

Mar 20, 2023 • 1:13:49

SI235: Trend Following's Reaction to SVB Collapse ft. Mark Rzepczynski

SI235: Trend Following's Reaction to SVB Collapse ft. Mark Rzepczynski

Today, Mark Rzepczynsky is back with us, following a tense week with the collapse of Silicon Valley Bank and a few other bank emergencies. We discuss how we are in a period that Mark calls “the great bond reprising” and what this means for the economy, why the collapse of SVB was somehow "expected", if only regulators had been looking at the right data and how you build models that are well prepared for unexpected events. We also discuss why the core concept of CTA replication in itself may be p

Mar 19, 2023 • 1:16:00

GM37: SPR - The Federal Reserve of Oil ft. Rory Johnston

GM37: SPR - The Federal Reserve of Oil ft. Rory Johnston

Today we are re-joined by Rory Johnston, founder of Commodity Context, a physical commodities research firm based in Toronto, Canada. We cover the SPR (Strategic Petroleum Reserve) that has been actively deployed by the Biden administration over the past year, its implementation and potential impact on related economies. To what extent can the SPR influence spot and futures prices, and what are the knock on effects on refined products? What is the interaction between the SPR, commercial inventor

Mar 15, 2023 • 1:14:42

TTU138: Need for Speed in Trendfollowing ft. Matt Dorsten, Portfolio Manager at PIMCO

TTU138: Need for Speed in Trendfollowing ft. Matt Dorsten, Portfolio Manager at PIMCO

Today, we are joined by Matt Dorsten, Portfolio Manager within the Quantitative Strategies group at PIMCO, for a conversation how they manage 60 billion dollars through different quant strategies, of which app. $5bn is in Trend Following. We discuss their process of constructing portfolios using a defensive approach and how they manage to simultaneously maintain a high Sharpe, keep a balance between long and short trades and how they use tail "hedging" in their design of the strategy. We also di

Mar 13, 2023 • 1:02:59

SI234: Trend Followers are minnows, not whales ft. Rob Carver

SI234: Trend Followers are minnows, not whales ft. Rob Carver

Today, I'm joined by Rob Carver for the weekly trend following conversation, where we reflect on the takeaways from the CTA series and the performance of the year so far. We discuss parameter and markets selection through research and testing and why Rob dislikes stops in moving average systems, what happens if a brokerage firm fails. We also discuss why you have to be cautious when using dynamic position sizing and Rob’s advice for using backtesting, how articles from big financial media often

Mar 11, 2023 • 1:08:53

GM36: Galactic Macro, UFOs & Balloon Encounters ft. David Dorr

GM36: Galactic Macro, UFOs & Balloon Encounters ft. David Dorr

What are some of the key takeaways when you marry global financial markets with potentially extraterrestrial influences? Global Macro investor David Dorr, has taken on that conversation. As government and national security services have begun to declassify information around UFOs, David is exploring the edge of what people are starting to talk about but financial markets haven’t yet embraced. Energy, defense, travel, technology, are points of influence in this conversation. Then there’s what Loc

Mar 8, 2023 • 1:22:41

TTU137: A new approach to Entering Trends ft. David Gorton, CIO at DG Partners

TTU137: A new approach to Entering Trends ft. David Gorton, CIO at DG Partners

Today, we are joined by David Gorton, CIO at DG Partners, for a conversation on how they use trend following to achieve a multi-billion dollar portfolio. We discuss how to become a better trend follower by understanding the weaknesses of the strategy and their approach to produce positive alpha, the challenge of timing trend following and how they focus on the conceptual trend without giving up the skew and how the "dark" 10-year period has affected their approach to volatility. We also discuss

Mar 6, 2023 • 1:09:39

SI233: The Market Impact of CTAs & Trend Followers ft. Alan Dunne

SI233: The Market Impact of CTAs & Trend Followers ft. Alan Dunne

Alan Dunne joins us for the weekly conversation on Trend Following, where we reflect on the broader perspective of the markets and the economy. We discuss how the unpredictablity of inflation and interest rates affect all parts of the economy and the transition from globalization to deglobalization, the size of the CTA and trend following industry and how articles on media like Bloomberg often creates a unrealistic narrative about CTAs through colorful headlines. We also discuss Why you should a

Mar 4, 2023 • 1:04:58

TTU136: Trend Following... C'est la vie ft. Philip Seager, Head of Absolute Return at Capital Fund Management

TTU136: Trend Following... C'est la vie ft. Philip Seager, Head of Absolute Return at Capital Fund Management

Today, we are joined by Philip Seager, Head of Absolute Return at Capital Fund Management (CFM), for a conversation on how they incorporate trend following in their investment strategy. We discuss their research on how trend following has performed historically and how they use the data in their trading and the role trend following play in their portfolio construction. We also discuss the right way of doing research when it comes to quant based strategies and how they differentiate themselves fr

Mar 3, 2023 • 1:09:55

GM35: The Drivers of the Commodity Markets ft. Nicky Ferguson

GM35: The Drivers of the Commodity Markets ft. Nicky Ferguson

Today we are joined by Nicky Ferguson, Founder of It's Not a Science, an energy markets research firm based in Basel, Switzerland. We talk about speculative positioning in oil and natural gas futures, and how to distinguish between price action driven by fundamentals and flows. We discuss real time indicators of oil supply and demand, and the time it takes various investors to absorb new information. Finally, we discuss the limitations of the DXY dollar index as a baseline for measuring commodit

Mar 1, 2023 • 56:22

TTU135: Moving Beyond Pure Price Trends ft. Yao Hua Ooi, Principal at AQR Capital Management

TTU135: Moving Beyond Pure Price Trends ft. Yao Hua Ooi, Principal at AQR Capital Management

Today, we are joined by Yao Hua Ooi, Principal at AQR Capital Management, for a conversation on how they use systematic tools like trend following, to take advantage of inefficiencies in markets. We discuss the pros and cons of risk premia strategies and how they manage to improve the Sharpe ratio while making sure the "dual" mandate is fulfilled, how they have moved beyond pure price trends as part of the evolution of their trend programs. We also discuss the process of building a trend follow

Feb 27, 2023 • 1:21:25

SI232: Trend Following the Trend Followers ft. Nick Baltas

SI232: Trend Following the Trend Followers ft. Nick Baltas

Today, Nick Baltas return to the show following a head scratching period for inflation and interest rates the past few weeks. We discuss the state of the environment for trend following and the best way to select a portfolio of markets to trade, the pros and cons of "trend following the trend followers". We also reflect on Katy Kaminski’s take on Crisis Alpha and discuss the evolution of trend following and how it changes the way strategies are designed, why being too concerned about the Sharpe

Feb 26, 2023 • 1:09:18

TTU134: Crisis Alpha Revisited ft. Katy Kaminski, Chief Research Strategist at AlphaSimplex Group

TTU134: Crisis Alpha Revisited ft. Katy Kaminski, Chief Research Strategist at AlphaSimplex Group

Today, we are joined by Katy Kaminski, Chief Research Strategist at AlphaSimplex Group, for a conversation on how they approach managed futures and trend following in their programs. We discuss how they work together with their clients to find the right solution for them and why it is important to understand the true meaning of Crisis Alpha, why commodities play a crucial role in times of crises and the key components of managing major disrupting events like COVID19. We also discuss why you migh

Feb 24, 2023 • 1:12:23

TTU133: How to deliver Convexity ft. Nigol Koulajian & Mike Harris of Quest Partners

TTU133: How to deliver Convexity ft. Nigol Koulajian & Mike Harris of Quest Partners

Today, we are joined by Nigol Koulajian and Mike Harris from Quest Partners, for a conversation on how they use a research driven, quantitative and systematic trading approach to generate alpha. We discuss how they generate convexity and why they have chosen to focus on short-term time frames, why they believe some investors have become too focused on Sharpe and how they use trend following and crowding in their process. We also discuss how they use an adaptive learning technique to understand m

Feb 20, 2023 • 1:15:48

SI231: The Perfect Fit for Trend Following ft. Richard Brennan

SI231: The Perfect Fit for Trend Following ft. Richard Brennan

Richard Brennan joins us to reflect on the learnings so far from the new CTA series. We also discuss how to set your stop loss when entering a new position and why you should not allow your trend models to go "backwards", how to fit your model to price data and why it is important to understand the signal to noise ratio in your trading to avoid overfitting. Additionally, we discuss how random entries can work for your models, but why they are not truely random and the challenge of separating luc

Feb 19, 2023 • 1:17:56

TTU132: Trend Following Evolution ft. Ed Tricker, CIO of Quant Strategies at Graham Capital Management

TTU132: Trend Following Evolution ft. Ed Tricker, CIO of Quant Strategies at Graham Capital Management

Today, we are joined by Dr. Edward Tricker, Chief Investment Officer of Quantitative Strategies at Graham Capital Management, joined Top Traders Unplugged for a discussion on Graham's approach to quantitative macro investing. The discussion touches on a variety of interesting topics including the evolution of trend-following, diversification, portfolio optimization, and "crisis alpha." Dr. Tricker also discusses how Graham partners with investors to help them solve for their specific portfolio n

Feb 17, 2023 • 1:16:11

GM34: When Geopolitics meets Global Macro ft. Jacob Shapiro & Roger Hirst

GM34: When Geopolitics meets Global Macro ft. Jacob Shapiro & Roger Hirst

Today we are joined by Jacob Shapiro and Roger Hirst. Jacob is the Geopolitics Editor at financial media company Lykeion, co-author of a monthly research publication focused on the converging worlds of Geopolitics and Macro, Partner and Director of Geopolitical Analysis at Cognitive Investments, and Founder and Chief Strategist of the business and political risk consulting firm Perch Perspectives. Roger is the Macro Editor at financial media company Lykeion and the Managing Editor of Real Vision

Feb 15, 2023 • 1:13:43

TTU131: How CTAs manage their Cash ft. Mike Kastner, Principle & Co-Founder at Halyard Asset Management

TTU131: How CTAs manage their Cash ft. Mike Kastner, Principle & Co-Founder at Halyard Asset Management

Today, we are joined by Mike Kastner, Principle and Co-Founder at Halyard Asset Management, for a conversation on how they use fixed income instruments to manage the cash of many CTA portfolios. We discuss how managers have evolved in terms of the way they manage cash, how Halyard Asset Management construct a portfolio from a liquidity point of view and the current state of liquidity, how they approach credit rating and why they avoid buying paper from certain banks. We also unpack what they thi

Feb 13, 2023 • 47:46

SI130: Trend Following in the Age of Disconnect ft. Mark Rzepczynski

SI130: Trend Following in the Age of Disconnect ft. Mark Rzepczynski

Today, Mark Rzepczynski joins us at the end of another Fed driven week. We discuss the pros and cons of being a long term trend follower compared to a short term trend follower in terms of performance and Sharpe Ratio, and why you would want to apply the same rules to long and short sided trades, how to understand long and short term volatility, the advantages of being a systematic manager and the limits to how much AUM a manager can handle, how Rzepczynski will be focusing on change point detec

Feb 12, 2023 • 1:19:16

TTU130: Trend Following Solutions ft. Marty Lueck, Co-Founder of Aspect Capital

TTU130: Trend Following Solutions ft. Marty Lueck, Co-Founder of Aspect Capital

Today, we are joined by Marty Lueck, Co-Founder of Aspect Capital, for a conversation on their systematic investment process, with a primary focus on research. We discuss why bias is a core element of Aspect Capitals investment philosophy, the essence of trend and why trend strategies work, as well as how they work together with their investors to create the most optimal portfolio for them. We also explore Lueck's analogy of trend as "medicine" and why it is important to give the medicine time

Feb 10, 2023 • 1:05:33

GM33: Drilling into the Oil Market ft. Rory Johnston

GM33: Drilling into the Oil Market ft. Rory Johnston

Today we are joined by Rory Johnston, founder of Commodity Context, a physical commodities research firm based in Toronto, Canada. We talk about Rory’s in-depth research focused on the oil sector, as well as the current narratives impacting the price of oil right now. We discuss his deep dives into the workings of the oil industry, focused on adding a broader perspective to price assumptions and market fluctuations. From Russia’s invasion of Ukraine to China’s Covid lockdown, Rory shares his ref

Feb 8, 2023 • 1:06:52

TTU129: Trend Following Nordic Style ft. Svante Bergström, CEO & Founding Partner of LYNX Asset Management

TTU129: Trend Following Nordic Style ft. Svante Bergström, CEO & Founding Partner of LYNX Asset Management

Today, we are joined by Svante Bergström, Founding Partner and CEO of Lynx Asset Management, for a conversation on how they incorporate trend following in their trading strategy, through the use of a multi-strat approach. We discuss why they believe trend following will continue to work for the next hundred years and how they ensure a good balance between achieving a high Sharpe while maintaining the trend following profile, what they have learned from 2022 and how they used diversifying models

Feb 6, 2023 • 1:07:06

SI229: Managed Futures - The Ultimate Diversification Tool? ft. Andrew Beer

SI229: Managed Futures - The Ultimate Diversification Tool? ft. Andrew Beer

Today, Andrew Beer returns to the podcast for a conversation on Trend Following & Managed Futures more broadly, where we reflect on what happened in the first month of 2023 and the outlook for rest of the year. We also discuss why many investors started to panic in the last half of 2022 and why Managed Futures is such a powerful "companion" strategy, the recent change of sentiment to stocks and bonds and why we should sometimes just trust the evidence. We round things off with a deep dive in

Feb 5, 2023 • 1:07:49

TTU128: Trend Following for Life ft. Marty Bergin, President of DUNN Capital Management

TTU128: Trend Following for Life ft. Marty Bergin, President of DUNN Capital Management

Today, we are joined by Marty Bergin, President of DUNN Capital Management, for a conversation on how and why they have continued to focus on Trend Following as their core investment strategy. We discuss the challenges of improving upon trend following and if it's possible to deliver it with a high Sharpe Ratio, what differentiates DUNN Capital from other trend followers and how they use research to stay well prepared. We also dig into their approach to trading futures and determining trends and

Feb 3, 2023 • 1:09:15

IL13: A Biography of the Dollar ft. Perry Mehrling

IL13: A Biography of the Dollar ft. Perry Mehrling

Today, Perry Mehrling, Economist and internationally recognized expert on our monetary system, joins us to talk about his new book: “Money and Empire: Charles P. Kindleberger and the Dollar System”. Perry’s book is a “biography of the dollar” told through the life “Charlie” Kindleberger, an economist who helped craft the Marshall Plan and spent his life studying and writing about the best way to organize international money. We discuss why Charlie thought the world needs a “key currency” and how

Feb 1, 2023 • 1:10:02

TTU127: Trend Following L.A. Style ft. Ryan O' Grady, Co-Founder & CEO at ROW Asset Management

TTU127: Trend Following L.A. Style ft. Ryan O' Grady, Co-Founder & CEO at ROW Asset Management

Today, we are joined by Ryan O’ Grady, CEO and Co-Founder of ROW Asset Management, for a conversation on their all-weather, multi-strat approach to investing. We discuss the philosophy behind their trading strategy and why they choose to think holistically, why limiting yourself to trend following is a disadvantage and how they balance between simplicity and complexity in their research process, what they believe is the right number of markets to trade and how they diversify their portfolio. We

Jan 30, 2023 • 1:13:49

SI228: Are Markets Priced for Perfection? ft. Alan Dunne

SI228: Are Markets Priced for Perfection? ft. Alan Dunne

Alan Dunne joins us for the weekly conversation on Trend Following, where we reflect on the current macro environment and how it impact markets. We discuss how the apparent positivity in the markets might get derailed by the lack of cooperation from policy makers and how a lurking uncertainty is threatening the calmness of the markets, the performance of the CTA industry, which markets are the best to trade and how the speed of your trend system affects the outcome, how CTAs capitalize on people

Jan 29, 2023 • 1:01:16

TTU126: Trend Following + Something ft. Kevin Cole, CEO & CIO at Campbell & Co.

TTU126: Trend Following + Something ft. Kevin Cole, CEO & CIO at Campbell & Co.

Today, we are joined by Kevin Cole, CEO and CIO at Campbell & Co, for a conversation on their approach to using trend following in their trading, with a focus on absolute return. We discuss their investment philosophy and the evolution of their expanded trading strategy, how they moved beyond pure trend using equities and how they use a multi-strat approach to stay diversified. We also discuss how they feel about being replicated and how they use their research process to keep an edge over t

Jan 27, 2023 • 1:14:26

IL12: How to Invest ft. David Rubenstein

IL12: How to Invest ft. David Rubenstein

Today, Kevin Coldiron is joined by the legendary David Rubenstein, Co-Founder and Co-Chairman of the Carlyle Group, philanthropist, historian and more, for a conversation on what we can learn from his journey to become a billion dollar investor, based on his book, “How To Invest”. We discuss what Rubenstein learned from his work as a lawyer and what young, aspiring investors can learn from his book, why it is important to work with something you love to do and why investors are an important part

Jan 25, 2023 • 57:54

TTU125: Trend Following vs Short Term ft. Michael Pomada, President & CEO at Crabel Capital Management

TTU125: Trend Following vs Short Term ft. Michael Pomada, President & CEO at Crabel Capital Management

Today, we are joined by President and CEO of Crabel Capital Management, Michael Pomada, for a talk on their approach to trend following as well as short-term strategies. We discuss the trading philosophy behind Crabel Capital Management and why they choose to primarily be long vol, what role the Sharpe Ratio plays in their trading strategy and how they use data in their research process to understand markets, how being de-siloed helped them to make 2022 their best year in terms of research

Jan 23, 2023 • 1:21:42

SI227: Trend Following in an Uncertain World ft. Richard Brennan

SI227: Trend Following in an Uncertain World ft. Richard Brennan

Richard Brennan joins us for a weekly conversation on Trend Following, where we reflect on the new TopTradersUnplugged mini series and how the beginning of 2023 has been so far. We also take questions from listeners regarding backtesting methods and how Richard uses backtesting to manage risk, rather than predict expected returns. Additionally, we discuss why trend followers should be more aware of uncertainty and outliers, why Richard is a tail hunter and why he compares it to surfing, how

Jan 21, 2023 • 1:25:03

TTU124: Trend Following with a Twist ft. Harold de Boer, Managing Director at Transtrend

TTU124: Trend Following with a Twist ft. Harold de Boer, Managing Director at Transtrend

Today, we are joined by Harold de Boer, Head of R&D and Managing Director at Transtrend, for a conversation on their unique approach to trend following. We discuss the investment philosophy at Transtrend and what makes them stand out against other investors, why markets trend and what history can teach us about trend following, how the war in Ukraine impacts markets and how Transtrend stays diversified. We also discuss why Transtrend has not deviated from trend and the importance of differen

Jan 20, 2023 • 1:13:41

GM32: Commodity Super Cycle in Full Force ft. Jeff Currie

GM32: Commodity Super Cycle in Full Force ft. Jeff Currie

In this episode, Cem and Niels are joined by Jeff Currie, Head of Commodities Research at Goldman Sachs, for a conversation on the shifts in global natural resources that we are witnessing right now. We discuss how the focus on de-carbonization has impacted the economy and why the low income group is actually the key driver of inflation, why Currie believes markets are set up for a recession in 2023 and how the war in Ukraine causes disruptions in energy infrastructure. We also discuss why OPEC

Jan 18, 2023 • 1:03:12

TTU123: Trend Following Master Class ft. Russell Korgaonkar, CIO at Man AHL

TTU123: Trend Following Master Class ft. Russell Korgaonkar, CIO at Man AHL

In this first episode of the new mini series with the largest and most successful trend followers in the world, we are joined by Russell Korgaonkar, CIO at Man AHL, for a conversation on how Man AHL uses trend following in their trading strategy. We discuss the philosophy behind their work and why they believe trend following is a great strategy, as well as what makes Man AHL stand out to investors and how they make trend following more digestible while maintaining "crisis alpha". We also discus

Jan 16, 2023 • 1:07:28

SI226: Trend Following - the Do's & the Dont's ft. Rob Carver

SI226: Trend Following - the Do's & the Dont's ft. Rob Carver

Today, Rob Carver returns to the show for the first weekly trend following conversation in 2023, where we discuss the unusual situation with the vol market and how to use stops and moving average crossovers when entering and exiting trades, what it takes to run a trend following portfolio in 2023 and why it is not for everyone, how Kurtosis and skew is used in managed futures, Rob's process of picking parameters and why using a mixture parameter speed is the most optimal approach. We also discus

Jan 15, 2023 • 1:06:32

IL11: How China Derailed Its Peaceful Rise ft. Susan Shirk

IL11: How China Derailed Its Peaceful Rise ft. Susan Shirk

Today, Susan Shirk, Professor and expert in the US/China relationship and Chinese politics, joins us for a conversation on China’s rise to power, based on her new book, “Overreach: How China Derailed Its Peaceful Rise”. We discuss Susan’s research process and what laid the foundation for the book, the evolution of the control regime in China and how China has been taking things too far, how corruption affects Chinese politics and how Xi Jinping’s attempt to purge the corruption has led to an ove

Jan 11, 2023 • 1:02:33

TTU122: New Amazing CTA & Managed Futures Series

TTU122: New Amazing CTA & Managed Futures Series

Today, Niels and Alan introduces the new, upcoming mini series that will focus on trend following and managed futures on a broad scale and provide access to the brightest minds within our industry. We set the stage by discussing what kind of year 2022 turned out to be for CTAs and how the idea for the mini series emerged, what we expect and hope to achieve from our conversations with these top-tier managers and some of the exciting topics that we will bring up in the new mini series. We will als

Jan 7, 2023 • 37:24

ALO13: Building Resilient Portfolios with Alternatives ft. Dylan Grice

ALO13: Building Resilient Portfolios with Alternatives ft. Dylan Grice

Today, we are joined by Dylan Grice, Co-Founder at Calderwood Capital, for a conversation on how he thinks about portfolio construction through focusing on alternative and niche investments. We discuss how Dylan and his team work and why they shy away from trying to predict the future, how they analyse the current economic situation and why he thinks what happens to inflation and interest rates the next few years is insignificant. We also discuss how they manage the risk of the strategies they a

Jan 4, 2023 • 1:08:17

SI225: 2023...Another Great Year for Trend Following? (TTU Group Part 2)

SI225: 2023...Another Great Year for Trend Following? (TTU Group Part 2)

Today, the TopTradersUnplugged team get together for the second part of the year-end group conversation on trend following, leading up to the beginning of 2023. We discuss whether trading more markets is actually better for diversifying your portfolio and how to approach outliers, how fluctuations in interest rates affects volatility strategies and trend followers, both currently and historically. We also discuss whether artificial intelligence can be a viable tool for trading and whether liquid

Dec 30, 2022 • 1:07:28

SI224: 2022 the Perfect Year for Trend Followers? (TTU Group Part 1)

SI224: 2022 the Perfect Year for Trend Followers? (TTU Group Part 1)

Today, the TopTradersUnplugged team get together for a group conversation on trend following and Volatility, leading up to the end of 2022. We discuss the possibility that the carry regime has ended and why 2022 was such a great year for trend following, why “the grind” has been so influential this year and why volatility strategies has been performing different than expected, and how CTAs performance compares to bonds. We also discuss how the volatility market is changing in the coming years an

Dec 24, 2022 • 1:13:20

GM31: The Art of Volatility Investing ft. Dave Dredge

GM31: The Art of Volatility Investing ft. Dave Dredge

Today, Dave Dredge, CIO at Convex Strategies, returns for a conversation on volatility investing and why he believes the 60/40 portfolio is wrong. We discuss why big pension funds have been suffering major losses and what Dave means by living in a “Sharpe World”, self-organized criticality and how Central Banks have been handling inflation, the relationship between volatility and liquidity and importance of understanding the timeframe that you are trading within. We also discuss how Dave uses a

Dec 21, 2022 • 1:20:16

SI223: 2022 an unusual year for Volatility ft. Cem Karsan

SI223: 2022 an unusual year for Volatility ft. Cem Karsan

Today, Cem Karsan joins us to reflect on a week with heavy Fed action and some of the myths surrounding the Fed. We discuss how the behaviour of the Fed impacts inflation and the importance of understanding seasonality, why the discussion between recession and no recession makes little sense and the what direction the markets are heading. We also discuss Cem’s approach to trading the current volatility compression and why 44% of the S&P options volume is in 0 DTE, the key takeaways from the

Dec 17, 2022 • 1:02:18

IL10: Chip War (FT's Best Business Book 2022) ft. Chris Miller

IL10: Chip War (FT's Best Business Book 2022) ft. Chris Miller

Today, Chris Miller, Author and Associate Professor of International History, joins us for a fascinating conversation on microchip technology and its impact on modern day society, based on his book “Chip War: The Fight for the World’s Most Critical Technology” - which just received the Financial Times Best Business Book of 2022 Award. We discuss why semiconductor chips are so important today and the complex manufactoring process behind them, the history and role of the very few companies that do

Dec 14, 2022 • 56:25

SI222: Trend Following vs Tail Hedging to Protect Your Portfolio ft. Rob Carver

SI222: Trend Following vs Tail Hedging to Protect Your Portfolio ft. Rob Carver

Today, Rob Carver joins us for conversation on Trend Following with something for the both the individual everyday investor and the trend following nerds. We also catch up on this week's events which included news of the biggest one-week outflow of US Equity Mutual & ETF funds since April 2021 and the news that Blackstone will be limiting investor redemption's in one of their Real Estate funds. We discuss how Rob uses dynamic market selection to diversify his portfolio and how he plans out

Dec 10, 2022 • 1:07:28

GM30: The Era of Weather Volatility ft. Shawn Hackett

GM30: The Era of Weather Volatility ft. Shawn Hackett

Today, we are joined by Shawn Hackett, Founder of Hackett Financial Advisors, for a conversation on how changes in weather and weather volatility affects the economy and you as an investor. We discuss the role and state of agriculture and the impact of climate change, the mechanisms of the climate and why understanding the big picture of weather cycles is so important, how we are transitioning into a new weather cycle, what it means for the crop production and important indicators for predicting

Dec 7, 2022 • 1:10:43

SI221: Will 2023 be another Trend Following Year? ft. Alan Dunne

SI221: Will 2023 be another Trend Following Year? ft. Alan Dunne

Today, Alan Dunne joins me to reflect on the month of November and take a peek into 2023. We discuss the equity rally and what it means for the economy, both currently and historically, the cycle of bear markets and why the current period has been unusual. We also discuss the role of diversified managed futures, why short term traders are interesting in that context and how it compares to trend following, the expectations for 2023 and what environment we are heading into, the issues with public

Dec 3, 2022 • 1:10:43

ALO12: How to Invest like a Private Bank ft. Shannon Saccocia

ALO12: How to Invest like a Private Bank ft. Shannon Saccocia

Today, we are joined by Shannon Saccocia, CIO at SVB Private, for a conversation on how portfolio management and manager selection is carried out at a private bank. We discuss how the current unstable environment has caused a change in investor behaviour and how technology has impacted the economy, what the next phase of investments looks like and how the economic landscape has changed as well as how SVB Private has adapted their asset allocation to the current crisis and the implications of goi

Nov 30, 2022 • 1:09:09

SI220: Is It Too Late for Trend Following? ft. Mark Rzepczynski

SI220: Is It Too Late for Trend Following? ft. Mark Rzepczynski

Today, Mark Rzepczynsky joins us for a weekly update on Trend Following, following the release of the minutes from the FED’s Open Market Committee in a week of thin liquidity. We discuss whether trend followers can make money going forward after a great year and if it is "too late" to allocate to trend following, the historical perspective of trend following and what we can expect going forward based on the latest analysis from AQR, and how the fast flow of information impacts trend following. W

Nov 27, 2022 • 1:08:41

GM29: What if the World isn't Ending? ft. Marko Papic

GM29: What if the World isn't Ending? ft. Marko Papic

Today, we are joined by Marko Papic, Partner and Chief Strategist of Clocktower Group, for a conversation on geopolitical analysis and how it can be used to predict the future, based on his book, “Geopolitical Alpha: An Investment Framework for Predicting the Future”. We discuss why geopolitical analysis should be used and how it can prepare you for the future as an investor, what role politicians play in society and the methods they use to gain voters, how voters are affected by media and the i

Nov 23, 2022 • 1:19:08

SI219: The Impact of Secular Inflation ft. Cem Karsan

SI219: The Impact of Secular Inflation ft. Cem Karsan

Today, Cem Karsan joins us for our weekly conversation on Volatility & Trend Following, where we discuss the inverted yield curve and how to protect yourself against secular inflation, how Cem foresee the coming period in terms of Opex, Delta hedging, Vanna etc. and the potential bottom of the markets. We also discuss the importance of the outcome of the U.S election and positive CPI numbers and how it affects volatility, why short term volatility might increase and longer term might compres

Nov 19, 2022 • 1:10:20

GM28: Draught, Deflation, Default & Global Depression ft. Simon Hunt

GM28: Draught, Deflation, Default & Global Depression ft. Simon Hunt

Today, we are joined by Simon Hunt, who has decades of experience in the copper industry, for a conversation on the state of the global macro environment, both currently and in the years to come. We discuss climate change and the extreme implications it will have on our lives, how the current state of war will impact the economy and how we are on a path to very high inflation and interest rates. We also discuss why Hunt do not believe we are in a commodity super cycle and how he predicts the com

Nov 16, 2022 • 48:15

SI218: Trend Following to the Rescue ft. Richard Brennan

SI218: Trend Following to the Rescue ft. Richard Brennan

Richard Brennan joins us for a very important conversation on Trend Following, where we reflect on the FTX crypto collapse and CPI melt-up. We discuss how the outlook of inflation is changing and how it impacts trends, how the concept of "pants size" relates to different lookback periods as well as stops and the importance of position sizing, the difference between different position sizing schemes and how to best utilize them. We also discuss the trading opportunities that the uncertainty of th

Nov 12, 2022 • 1:22:14

TTU121: Trend Following... from Optional to Essential ft. Nick Baltas

TTU121: Trend Following... from Optional to Essential ft. Nick Baltas

Today, Niels and Rob are joined by Nick Baltas, Managing Director at Goldman Sachs, for a conversation on systematic investment strategies. We discuss the difference between a number of systematic trading strategies and the pros and cons of each, how crowding impacts systematic investing and how the narrative created by media affects the systematic investment space, the capacity constraints for CTAs and the impact of costs. We also discuss how big an impact the trend following community has on t

Nov 9, 2022 • 1:13:16

SI217: Finding the Optimal Trend Following Allocation ft. Rob Carver

SI217: Finding the Optimal Trend Following Allocation ft. Rob Carver

Today, Rob Carver joins us for our weekly conversation on Trend Following, where we also address this week's press conference held by Chairman Powell. We discuss the most optimal time period for trend following and how trend following differ from short-term trading. Then we explain the challenges in the UCITS space and how regulation affects these products, and why it is important to correctly distinguish asset classes and trading strategies from each other. We also discuss Rob’s approach to bui

Nov 6, 2022 • 1:09:10

GM27: Central Banks were Warned about their Failed Policies ft. William White

GM27: Central Banks were Warned about their Failed Policies ft. William White

Today, we are joined by William White, Economist, Policy Advisor and Policy Maker who worked at the OECD, BIS & Bank of Canada, for a conversation on monetary policy and how it can negatively impact the economy. We discuss the unintended consequences of ultra-easy monetary policies, what has caused the current rebound in inflation and why we have gone from price stability to specific inflation rate targeting. We also discuss how Central Banks have handled inflation and supply shocks, both hi

Nov 2, 2022 • 1:27:14

SI216: A New Era for Trend Following? ft. Alan Dunne

SI216: A New Era for Trend Following? ft. Alan Dunne

Today, Alan Dunne joins us for a weekly dose of Trend Following where we reflect on an eventful week, with Elon Musk taking over Twitter, the META stock taking a big hit and much more. We discuss how to approach asset allocation when adding trend following to your portfolio, how to find the optimal allocation and why Trend Following is often the most consistent part of the portfolio. We also discuss why it is important to think about forward looking risks and the idea that we are moving into a n

Oct 29, 2022 • 57:32

GM26: Out with the FED Put & In with the OIL Put ft. Adam Rozencwajg

GM26: Out with the FED Put & In with the OIL Put ft. Adam Rozencwajg

Today, we have the pleasure of having Adam Rozencwajg back for another conversation on the global energy crisis, this time primarily focusing on the demand side of the crisis. We discuss oil reserves, OPEC and how disruptions in supplies impact the energy sector, why we are seeing a spike in demand for oil and how investors are changing their trading behaviour to adapt to the crisis, the impact of the rise of the emerging market middle class and the challenges of structural inflation. We also ad

Oct 26, 2022 • 52:10

SI215: Trend Following vs Volatility to Protect Your Portfolio ft. Cem Karsan

SI215: Trend Following vs Volatility to Protect Your Portfolio ft. Cem Karsan

Today, Cem Karsan joins us for our weekly conversation on Trend Following as well as Volatility, following yet another fast paced and eventful week. We discuss the challenges of being long volatility in the current environment and how under-performing equity stock market volatility is the new normal, the increased popularity of volatility strategies post 2018 and 2020 and different ways of knowing how the strategies may behave in an inflationary environment. We also discuss concerning liquidity

Oct 22, 2022 • 1:03:25

IL09: The Money Revolution...Rethinking Economic Growth ft. Richard Duncan

IL09: The Money Revolution...Rethinking Economic Growth ft. Richard Duncan

Richard Duncan, Economist and best-selling Author, joins us for a conversation on new ways of thinking about economic growth and prosperity. We discuss the historical aspects of growth and how credit creation and consumption generate economic growth, how foreign central banks create credit and how it has created an economic bubble in the American economy, how the U.S. economy has become addicted to credit growth and how the combination of a negative wealth effect and credit contraction poses a t

Oct 19, 2022 • 1:09:38

SI214: Trend Following & CTA Replication ft. Andrew Beer

SI214: Trend Following & CTA Replication ft. Andrew Beer

Today, we are joined by Andrew Beer, Managing Member at Dynamic Beta Investments LLC, for a conversation on managed futures replication, ETFs and how they have found a way to get these essential strategies into more investor portfolios. We discuss how they do they have constructed the replication strategies and how Andrew have been able to gain enormous traction among advisers. We also touch on why Andrew does not include crypto and how the price of ETF is established. We take lots of questions

Oct 16, 2022 • 1:50:20

IL08: Why The Best Quitters Win ft. Annie Duke

IL08: Why The Best Quitters Win ft. Annie Duke

Today, Annie Duke, Author and former professional poker player, joins us for a conversation on learning under certainty and making better decisions in an uncertain world, based on her book, “Quit: The Power of Knowing When To Walk Away”. We discuss when is the right time to quit and what an expedition at Mount Everest can teach us about quitting, why there are no benefits of “learning the lesson the hard way” and why we tend to quit when it is too late, the importance of having kill criteria and

Oct 11, 2022 • 1:05:49

SI213: Trend Following Records are being set in 2022? ft. Richard Brennan

SI213: Trend Following Records are being set in 2022? ft. Richard Brennan

Richard Brennan joins us for a weekly update on Trend Following, where we reflect on what might be the strongest year for Trend Following on record. We discuss the robustness of Trend Following and how it allows investors to survive in times of uncertainty, how to handle stop-loss when calculating ATR and advice for entering and exiting trades. We also discuss trend identification and why you should avoid prescriptive visual methods, what we can learn from the human hearing when identifying tren

Oct 8, 2022 • 1:14:18

GM25: A realtime account of going through "hell" in the markets ft. Michael Gayed

GM25: A realtime account of going through "hell" in the markets ft. Michael Gayed

Today, we are joined by Michael Gayed, award winning Author and Portfolio Manager, for a real time account of what it's like to go through a challenging time in the markets. We discuss how Michael reinvented himself in 2009 and what he learned from the Great Recession, why Michael believes that Trend Following is not a long-vol strategy and how Gayed uses Lumber vs Gold as a market, Risk-on Risk-off indicator and how he uses treasuries as a tool to look forward in time. We also dig into why Gaye

Oct 5, 2022 • 1:00:25

SI212: Trend Following in a Soft, Hard or No Landing ft. Alan Dunne

SI212: Trend Following in a Soft, Hard or No Landing ft. Alan Dunne

Today, Alan Dunne joins us for our weekly dose of Trend Following where we reflect on an eventful month of September and a good year for trend, so far. We discuss what causes trends and why we are starting to see bigger moves in markets in recent years, whether the economy will have a Soft, Hard or No landing and what impact it will have on market performance, why we might still be in a commodity super cycle and why commodities are linked to volume unlike financial assets. We also discuss what A

Oct 1, 2022 • 58:26

GM24: The Real Cause of the Global Energy Crisis (Part 1) ft. Adam Rozencwajg

GM24: The Real Cause of the Global Energy Crisis (Part 1) ft. Adam Rozencwajg

Today, we welcome back Adam Rozencwajg, Managing Partner at Goehring & Rozencwajg, to help us understand the global energy crisis and how we ended up in this situation. We discuss the outlook of the coming months and why we are in the beginning of a commodity super cycle, how the supply and demand side of the economy functions and what role the Strategic Petroleum Reserve (SPR) plays in a global energy crisis. We also discuss the different types of energy commodities, how convergence will af

Sep 28, 2022 • 1:06:36

SI211: A Trend Following Renaissance? ft. Mark Rzepczynski

SI211: A Trend Following Renaissance? ft. Mark Rzepczynski

Today, Mark Rzepczynsky joins after an intense week for central banks and global markets. We discuss how the current situation affects us as Trend Followers and the potential systemic risks in the futures exchange community in case of a global financial reset event and how we can use what we learned during the pandemic to tackle the issues of liquidity. We also discuss the difference between CTAs and Trend Followers and why the big investment banks should support their trend following clients...

Sep 25, 2022 • 1:05:34

GM23: The Wars of Capital ft. Michael Howell

GM23: The Wars of Capital ft. Michael Howell

Today, we are joined by Michael Howell, Author and Managing Director of Crossborder Capital, for a conversation on how liquidity drives financial markets, based on his book, “Capital Wars: The Rise of Global Liquidity”. We address term premia and the impact it has on the economy, the off-shore market, how Central Banks have become the dominant players over the last decade and the capital war between China and the U.S. We also discuss what might happen if the global economy becomes divided into t

Sep 21, 2022 • 1:10:29

SI210: Trend Following Q & A ft. Rob Carver

SI210: Trend Following Q & A ft. Rob Carver

Rob Carver returns after his extended holiday and kicks off by taking a nostalgic look back to 1985 as the British Pounds this week hit the lowest level since that year, to reflect on how markets tend to go in cycles. We also address dynamic optimisation, whether it contributes to make more markets "tradable" and the use of "non-tradable" markets, how Rob uses correlation and clustering for his classification approach and his strategy allocating to Trend Following. Additionally, we discuss techn

Sep 17, 2022 • 1:23:24

IL07: Equality Across the Globe can be Achieved ft. Oded Galor

IL07: Equality Across the Globe can be Achieved ft. Oded Galor

Today, we are joined by Oded Galor, Professor of Economics at Brown University, for a conversation on how we can explore and uncover new ways of thinking about the economy, based on his book “The Journey of Humanity: The Origins of Wealth and Inequality”. We discuss inequality from a historical aspect and the roots of human behaviour, the Malthusian trap and how the industrial evolution has impacted humanity and how geography, culture and diversity is a key factor in achieving equality. We also

Sep 14, 2022 • 1:07:58

SI209: Trend Following...The Best Way to Surf the Markets ft. Richard Brennan

SI209: Trend Following...The Best Way to Surf the Markets ft. Richard Brennan

Richard Brennan joins us for a weekly update on Trend Following, where we discuss why the crisis we experience at the moment might be worse than previous crises, such as what was experienced in the 1970’s. We also discuss the turtle trading method and how ATR can be used for entering and exiting trades, how Richard adjusts his trailing stop according to the price and level of volatility and why simplicity is the most robust solution to deal with complex markets. Additionally, we address how Tren

Sep 11, 2022 • 1:07:17

ALO11: From Ballet Dancer to CIO ft. Cameron Dawson

ALO11: From Ballet Dancer to CIO ft. Cameron Dawson

Today, we are joined by Cameron Dawson, CIO at NewEdge Wealth, who has a really unique background. We address how she allocate and construct her portfolios in a highly unstable and inflationary environment and why she prefesr to play on the smaller side of funds. We also discuss the importance of valuations and how it can help forecast long term returns and how she analyzes earnings and liquidity to understand and navigate an uncertain macro environment, the outlook for inflation and how the Fed

Sep 7, 2022 • 1:15:03

SI208: Trend Following in Today's Economy ft. Alan Dunne

SI208: Trend Following in Today's Economy ft. Alan Dunne

Today, Alan Dunne joins us for a weekly update on Trend Following where we reflect on the ongoing instability in the markets and look back on the month of August. We also discuss behavioural biases and why we may need to distinguish between managed futures and trend following, an article by Quantica on the benefits of trend following and how it can without a doubt improve your portfolio. Lastly, we reflect on the annual event at Jackson Hole and the BIS talking about the challenges ahead, the 2%

Sep 4, 2022 • 1:06:13

ALO10: How to Manage $50bn ft. Jason Morrow

ALO10: How to Manage $50bn ft. Jason Morrow

Today, we are joined by Jason Morrow, Deputy CIO at Utah Retirement Systems, for a conversation on how portfolio management is carried out at a large pension fund. We discuss how Morrow approaches the objective and constraints of URS’s portfolio and the realized volatility over time, how they manage the challenges of an inflationary environment and balance their portfolio to mitigate risk, how they find the right mix of public and private equities and their approach to absolute return strategies

Aug 31, 2022 • 1:08:14

SI207: Trend Following: The Perfect Portfolio? ft. Jerry Parker

SI207: Trend Following: The Perfect Portfolio? ft. Jerry Parker

Jerry Parker joins me for a raw conversation on Trend Following, the day after Jerome Powell spoke at Jackson Hole on fighting inflation and achieving economic stability. We also discuss the pros and cons of CTA/Managed futures replication strategies and the importance of investing in your own fund as a manager, the evolution of Trend Following and why Trend Following might be the Perfect Portfolio. We touch on different ways of diversifying your portfolio and why correlation is not always relia

Aug 27, 2022 • 1:16:15

GM22: Investing through a Fourth Turning ft. Niels Kaastrup-Larsen & Cem Karsan

GM22: Investing through a Fourth Turning ft. Niels Kaastrup-Larsen & Cem Karsan

Today, Cem Karsan and I reflect on previous conversations with guests on the Global Macro series and how they have developed us as investors. We also discuss the historical framework of the Fed and their role and power in the economy, how 40 years of monetary policy and technological revolution have caused historic inequality and how recessions have been handled throughout history. Additionally, we address the consequences of ultra low interest rates and high inflation and why we might see

Aug 24, 2022 • 1:15:12

SI206: Trend Following is a Lazy Man's Strategy ft. Mark Rzepczynski

SI206: Trend Following is a Lazy Man's Strategy ft. Mark Rzepczynski

This week, Mark Rzepczynsky joins us for our weekly update on Trend Following, at the end of yet another busy week for inflation watchers. Based on an article by Cliff Asness at AQR, we discuss why you want to own managed futures and why you want to avoid getting "carried away" as a Trend Follower, the dual mandate and the difference between strategy and running a business, innovation in Trend Following and why macro trends do not always translate to price trends. We also discuss how high inflat

Aug 20, 2022 • 1:11:18

GM21: The Inflation Regime and the Big Macro Picture ft. Darius Dale

GM21: The Inflation Regime and the Big Macro Picture ft. Darius Dale

Today, Darius Dale, Founder & CEO of 42macro, joins us for a conversation on Global Macro from a broad perspective. We discuss the outlook for inflation and the implication it has on the markets going forward, the path to a more elevated inflation level and how we may get there, what we can learn from the past about inflation and advice for trading in an inflationary regime. Additionally, Darius explains how he and 42macro consider external factors, such as demographics and structural c

Aug 17, 2022 • 1:11:58

SI205: Trend Following...What Really Matters ft. Richard Brennan

SI205: Trend Following...What Really Matters ft. Richard Brennan

Today, Richard Brennan joins us to discuss what really matters within Trend Following, as well as an update on the reaction to the latest CPI data. We also address questions from listeners regarding how to achieve a robust portfolio by avoiding recency bias and using a slow adaptive process, how sample size is most optimally used in Trend Following and the advantages of using a simplistic approach in your trading system. Lastly, we discuss the concept of warehousing risk and how it should b

Aug 14, 2022 • 1:08:23

IL06: The History of Interest & the Next Devastating Crisis ft. Edward Chancellor

IL06: The History of Interest & the Next Devastating Crisis ft. Edward Chancellor

Edward Chancellor, Author, Journalist and unrivaled Financial Historian, joins us today to discuss the history of Interest, based on his new book, “The Price of Time: The Real Story of Interest". We address why it is crucial to pay attention to the historical perspectives of the economy, the allocation of capital and interest and why low interest rates have a feedback effect on the economy, the zombie corporate phenomenon and the impact it has on the economy. We also discuss the longer term cons

Aug 10, 2022 • 1:16:11

SI204: Trend Following & A Cocktail of Macro Factors ft. Alan Dunne

SI204: Trend Following & A Cocktail of Macro Factors ft. Alan Dunne

Today, Alan Dunne joins us to discuss the ongoing instability in the markets and rising inflation, and why we, as investors, should keep an open mind for what is to come. We address the pros and cons of replication strategies, the performance of the past months and why we are beginning to see a shift in the markets. We review some recent articles, including an interview with Edward Chancellor, who is current with a new book, The Price of Time. Topics we cover include the impact of low interest r

Aug 6, 2022 • 1:08:22

AL09: FED Funds may hit 8% ft. Bilal Hafeez

AL09: FED Funds may hit 8% ft. Bilal Hafeez

Bilal Hafeez, Founder, CEO and Head of Research at Macro Hive, joins us today to discuss the current state of the markets and how we are possibly heading into a new regime and why FED Funds may hit 8%. We address the economic outlook of the near future and how the FED will deal with the challenges of inflation and increasing interest rates, how technology has taken over parts of the labour force and how Covid-19 has changed the way people and companies work, how demographics impacts inflation an

Aug 2, 2022 • 1:09:00

SI203: A new way of doing Trend Following ft. Jerry Parker

SI203: A new way of doing Trend Following ft. Jerry Parker

Today, we are joined by Jerry Parker where we dive into some of the highlights from the challenging month of July and how the industry has handled the current high level of volatility and trend reversals, why Trend Following continues to work but how narratives can create vicious reversals in the markets. We also discuss questions from listeners regarding Jerry’s strategies for entering and exiting trades, advice for backtesting using continuous futures contracts, how to handle stop losses and i

Jul 30, 2022 • 1:23:40

IL05: The Road to Economic Stability ft. Andrew Smithers

IL05: The Road to Economic Stability ft. Andrew Smithers

Today, we are joined by Andrew Smithers, Author, Economist and Founder of Smithers & Co, to discuss how we can achieve economic stability, based on his book, “The Economics of the Stock Market”. We address the Q Ratio and why it is important for economic stability, how to use the idea of hindsight value to predict markets and how monetary policy has contributed to economic instability, the incentives for a company’s management and how to balance the level of leverage. Lastly, we discuss reas

Jul 27, 2022 • 1:06:39

SI202: Trend Following in a Binary World ft. Mark Rzepczynski

SI202: Trend Following in a Binary World ft. Mark Rzepczynski

Mark Rzepczynsky joins us today for a weekly talk on Trend Following, where we discuss how we are beginning to see stagflation and recession around the world, how to manage systemic risk as a trend follower, how to construct your portfolio using Trend Following funds and why it’s preferred to let Trend Following funds replace bonds and commodities, whilst leaving equities in your portfolio. Additionally, we discuss how a global macro binary world allows for Trend Following to work and why Mark b

Jul 24, 2022 • 1:06:45

IL04: Inflation & The Great Demographic Reversal ft. Manoj Pradhan

IL04: Inflation & The Great Demographic Reversal ft. Manoj Pradhan

Manoj Pradhan, Author and Founder of Talking Heads Macroeconomics, joins us in today’s episode to discuss the structural forces that will drive markets in the future, based on his book, “The Great Demographic Reversal: Ageing Societies, Waning Inequality and an Inflation Revival”. We cover demographics and how it has impacted inflation and interest rates, the idea of using robots and automation to make society more efficient and productive, how ageing is a major contributor to a country’s debt a

Jul 20, 2022 • 59:59

SI201: Trend Followers Positioned for Recession ft. Richard Brennan

SI201: Trend Followers Positioned for Recession ft. Richard Brennan

Today, Richard Brennan tackle lots of great questions from listeners as to why Trend Following works, why trends occur in markets and why it is best to exploit them using a systematic approach, the idea of doing Trend Following on Trend Following using the TTU trend barometer. We also discuss different ways of looking at leverage in your portfolio, pros and cons of using stops and different approaches to applying volatility targeting. Lastly, we discuss why it can be beneficial to trade more tha

Jul 16, 2022 • 1:23:49

IL03: Finding Optimism in Times of Crises ft. Larry Siegel

IL03: Finding Optimism in Times of Crises ft. Larry Siegel

Today, Larry Siegel, Author and Director of Research at CFA Research Foundation, joins us to discuss his book, “Fewer, Richer, Greener: Prospects for Humanity in an Age of Abundance” and how demographic trends impact inflation. Additionally, we discuss the benefits of population growth, the importance of having a free society and how authoritarianism and fascism impairs a population, the history of economic growth and how it has enabled better and cheaper sources of energy, nuclear power and how

Jul 13, 2022 • 1:03:45

SI200: Stacking Returns into a Tightning Cycle ft. Alan Dunne

SI200: Stacking Returns into a Tightning Cycle ft. Alan Dunne

Today, Alan Dunne and I discuss the use of return stacking in asset management when building a diversified portfolio and the risk implications, adding CPPI on top of Trend Following and using options to achieve a constant cash flow. We also discuss the increasing inflation and rising uncertainty in the economy, the relationship between inflation and unemployment and how we are in the middle of a different Fed tightening cycle, as well as ways to build a portfolio in a difficult asset environment

Jul 10, 2022 • 1:07:22

IL02: Cold War & US Relations with China ft. James A. Fok

IL02: Cold War & US Relations with China ft. James A. Fok

James A. Fok, Financial Markets Professional and author of the book, “Financial Cold War”, joins us today for a discussion on how the Great Leap Forward has had an impact on China as a society and why they start to experience a virtual societal collapse, the financial relationship between China and the U.S and how financial warfare between the two countries can create a global crisis. We also discuss the idea of financial mutually assured destruction and how the Western society can become more f

Jul 6, 2022 • 1:04:32

SI199: Achieving Highest CAGR through Optimal Leverage ft. Rob Carver

SI199: Achieving Highest CAGR through Optimal Leverage ft. Rob Carver

Rob Carver joins us to discuss the eventful month of June and take questions from listeners regarding moving average crossover systems including what the best exit rules are for these systems, and why it might not be a good idea to enter all existing positions for new accounts. We also debate the sustainability of short-term Trend Following and intraday trading, and how much of the profit from TF Systems can be expected to come from Long sided trades as well as ways of investing into UCITS funds

Jul 3, 2022 • 1:19:30

IL01: Turning Water Into Wine with Diversification ft. Antti Ilmanen

IL01: Turning Water Into Wine with Diversification ft. Antti Ilmanen

In today’s episode, Antti Ilmanen, author and Global co-head of the Portfolio Solutions Group at AQR Capital Management, joins us to discuss key learnings from his new book, “Investing Amid Low Expected Returns”. We break down why commodities are crucial for generating returns in periods of high inflation and how to manage risk through diversification. We also discuss portfolio construction and whether bonds are still valuable in a diversified portfolio, market timing and how to balance emerging

Jun 29, 2022 • 1:06:42

SI198: Trend Following wearing Loose Pants ft. Jerry Parker

SI198: Trend Following wearing Loose Pants ft. Jerry Parker

Today, we are joined by Jerry Parker to discuss how recessions affect current trends and returns for Trend Followers, how to use ATR to determine the initial stop and when to switch to using a trailing stop for your position. We also discuss if it's possible to achieve comparable performance when investing through a public or private fund. Finally we turn to a few imporant topics like how “alts” or "alternatives" mean different things to different people, the Commodity Super Cycle and how it can

Jun 26, 2022 • 1:21:21

GM20: Bitcoin & The Great Power Shift ft. Nathaniel Whittemore

GM20: Bitcoin & The Great Power Shift ft. Nathaniel Whittemore

Nathaniel Whittemore, aka NLW, creator and host on The Breakdown podcast, joins us in today’s episode to discuss the big power shifts and social changes that are taking place in the world right now, the limits of Central Banks to handle inflation, the future of Crypto and how it impacts the social dynamics of society. We also discuss the dark sides of Bitcoin, regulation of the Crypto space and its potential pitfalls and much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Be

Jun 22, 2022 • 1:26:34

SI197: Why Trend Following Works...Especially Now ft. Mark Rzepczynski

SI197: Why Trend Following Works...Especially Now ft. Mark Rzepczynski

In today’s episode, Mark Rzepczynski joins us to discuss a listener question regarding different ways of adding capital and adjusting position size. We also take a deep dive into the latest research paper from Aspect Capital, which discuss the Great Repricing of Risk and why Trend Following strategies are advantageous in times of crises, dislocation of markets and how shocks in markets affect behaviour and performance. We also talk about the difference between unpredictable and predicable inflat

Jun 19, 2022 • 1:15:07

GM19: Brace Yourself for Dramatic Market Moves ft. Peter Atwater

GM19: Brace Yourself for Dramatic Market Moves ft. Peter Atwater

In today’s episode, Peter Atwater, author and adjunct professor of Economics at William & Mary, joins us to discuss socionomics and why media is a great mirror of mood, how confidence in Central Banks relates to the level of interest rates, “stacked vulnerability” and how it runs the potential of creating exhaustion, inequality and the battle between the top and the bottom of society. We also discuss how the current inflation creates false expectations and why we might see a violent move in

Jun 15, 2022 • 1:17:54

SI196: Where Next for Trend Following? ft. Rob Carver

SI196: Where Next for Trend Following? ft. Rob Carver

Today, Rob Carver joins us to discuss recent events in the world of Trend Following and takes questions from listeners regarding what it takes to do Trend Following full-time and how much capital is needed to do so. We also discuss potential benefits of adding a mean reversion system on a short term time frame and exploring trend following in spreads, what Rob thinks of trading alternative markets, how to mitigate the pain from false breakouts and how to select a universe of stocks to apply your

Jun 12, 2022 • 1:13:01

GM18: Boomers, Tax & Deflation ft. Alfonso Peccatiello & Andreas Steno Larsen

GM18: Boomers, Tax & Deflation ft. Alfonso Peccatiello & Andreas Steno Larsen

In today’s episode, the dynamic duo Alfonso Peccatiello, aka MacroAlf and Andreas Steno Larsen, join us to discuss all things Macro...from Central Banks and the reasons for the rising inflation, populism and how monetary policy has created inequality. We also get around demographics and how the shrinking labour force poses a threat to the economy, ESG and the impact it has on inflation, how a generational shift in politics can cause a taxation of the boomers, the 4th Turning and key mistakes to

Jun 8, 2022 • 1:11:29

SI195: Trend Following 101 ft. Richard Brennan

SI195: Trend Following 101 ft. Richard Brennan

Richard Brennan joins us in today’s episode, to discuss all things Trend Following and we take lots of questions from listeners regarding methods for calculating initial stops and trailing stops, how to define and classify Trend Following, programming languages and how CTAs follow their system rules during drawdowns. We also talk about how big the Trend Following industry really is, back testing, risk management and allocating funds to a professional manager and how the TTU Trend Following Index

Jun 5, 2022 • 1:22:46

GM17: Elon Musk...From Showman to Charlatan ft. Grant Williams

GM17: Elon Musk...From Showman to Charlatan ft. Grant Williams

Today, Grant Williams, creator of The Grant Williams Podcast, joins us to discuss the direction that the world is heading from a global macro perspective, the role of the Federal Reserve and how it has corrupted the price of money. We also touch on how the loss of faith in institutions is a key feature of the Fourth Turning, how inflation impacts inequality and how confidence in the Federal Reserve correlates with the level of interest rates, crypto currencies and the underlying problems of the

Jun 1, 2022 • 1:20:23

SI194: Trend Following & Manager Selection ft. Alan Dunne

SI194: Trend Following & Manager Selection ft. Alan Dunne

Today, Alan Dunne joins us to discuss manager selection and how to overcome behavioural biases, based on his paper, “Solving the Manager Selection Puzzle”, narratives and dealing with randomness in Trend Following, the end of the 60/40 portfolio and moving from public to private equity, trend following performance and quantitative investment strategies, trend following in an ever changing world and the expectation of going back to “normal”, the challenges of globalization and demographics and mu

May 29, 2022 • 1:12:08

GM16: Central Banking in a De-Globalized World ft. Joseph Wang

GM16: Central Banking in a De-Globalized World ft. Joseph Wang

Joseph Wang, former senior FED trader & known as the “Fed Guy”, joins us to discuss the credibility of the FOMC and what drives the neutral rate, Central Bank policies and the consequences of increased divergence, monetary policies and reducing liquidity to address the problems of inflation, de-globalization and how labour is no longer connected to corporate wellness, how the FED and other Central Banks have focused on the wrong things for the last few decades, exorbitant privilege and wheth

May 25, 2022 • 1:11:15

SI193: Nothing But Trend Following ft. Jerry Parker

SI193: Nothing But Trend Following ft. Jerry Parker

Trend Following legend Jerry Parker joins me today, where we answer questions regarding the effectiveness and risks of Richard Dennis’ “Pyramiding” methodology, how single stocks have performed differently than the indices recently, how to most optimally apply breakout systems, how to react to a drastic fall in a market like we saw in LUNA and the difference between performance of short and long trades in non-volatility targeted systems, how to avoid harmful research pursuits and popular id

May 22, 2022 • 1:25:12

GM15: The New World Order & Space Race ft. Pippa Malmgren

GM15: The New World Order & Space Race ft. Pippa Malmgren

Pippa Malmgren, former White House Adviser, technology entrepreneur and economist, joins us in today’s episode to discuss warfare in space and the space race between the super powers and the push to declassify UFO related information, how Pippa stays optimistic in a world of conflict and how the instability threatens Western democracy. We also discuss what we now know about COVID & the Vaccines and how this relates to the FED, how money printing has created a situation of both artificial cal

May 18, 2022 • 1:20:40

SI192: Knowing What You Don't Know ft. Mark Rzepczinsky

SI192: Knowing What You Don't Know ft. Mark Rzepczinsky

Mark Rzepczynski joins us in today’s episode to discuss inflation and how it threatens the economy, the power and paranoia of Trend Following and how you make the most money as a Trend Follower, what history tells us about common risks and diversification, portfolio construction and whether having more markets gives you better returns, the timing of Trend Following and why you need to have it as a core allocation, how to build the optimal portfolio and why bonds currently may not warrent an allo

May 15, 2022 • 1:10:44

GM14: The Dark Side of Renewable Energy ft. Adam Rozencwajg

GM14: The Dark Side of Renewable Energy ft. Adam Rozencwajg

Adam Rozencwajg, Managing Partner at Goehring & Rozencwajg, joins us in today’s episode to discuss ESG policies, the emerging energy crisis, and the new battle between the Climate-Green and the Nature-Green. We also dive into how the energy sector has evolved over time and the dark sides of renewable energy, why Moore’s Law does not apply to wind and solar energy, how cheap energy leads to distortion and malinvestment of energy, how the argument of human extinction skews the energy debate, n

May 11, 2022 • 1:16:48

SI191: The Flash Crash & Central Banks Screwing Up ft. Richard Brennan

SI191: The Flash Crash & Central Banks Screwing Up ft. Richard Brennan

Today, Richard Brennan joins us to discuss the fragility of the market and what happens if the Central Bank screws up, the current regime and how it benefits Trend Following, volatility targeting and how trending towards equilibrium differs from trending towards transition, how Trend Following has developed over the years, why he always invest in liquid markets, system diversification and how it allows you to expand your market diversification, the weak edge of Trend Following and much more. ---

May 7, 2022 • 1:10:43

GM13: The Decline of the Dollar & Prepping for the Worst ft. Izabella Kaminska

GM13: The Decline of the Dollar & Prepping for the Worst ft. Izabella Kaminska

Today, Cem and I are joined by Izabella Kaminska, former Editor of Financial Times Alphaville and Founder of The Blind Spot, to discuss the war of information and mis-information, the aftermath of Covid 19, how the media contributes to a segmentation of society, the group-think phenomenon, how shifts in culture has an impact on economics and how the war between Russia and Ukraine affects the global economy. We also discuss the power balance between the Western and the Russian economy, the dollar

May 4, 2022 • 1:31:45

SI190: Overthinking the Systematic Investment Game ft. Rob Carver

SI190: Overthinking the Systematic Investment Game ft. Rob Carver

Today, Rob Carver joins us to discuss what happened in the Trend Following world the past few weeks and takes questions from listeners regarding long/short portfolios and how to choose the right criteria for stock selection, positive and negative skew strategies and why mixing them together can be beneficial, interest rates and what to do with uninvested cash in your trading account, the substance and value of big research teams and whether they are “overthinking” the systematic investment game,

May 1, 2022 • 1:21:21

GM12: WW3 is just the beginning ft. Peter Zeihan

GM12: WW3 is just the beginning ft. Peter Zeihan

In this episode, Niels and Cem are joined by Peter Zeihan, author and Geopolitical strategist, to discuss the New World Order and World War III, how the Globalization has become a new battleground rather than a barrier to conflict, the role of technology in modern warfare, how the US were able to read Putin's emails and the impact of war on a national and global scale, the military and political power of China, America and Russia and the relationship between them and the rest of the world, how d

Apr 27, 2022 • 1:18:45

SI189: A New Era for Currencies ft. Alan Dunne

SI189: A New Era for Currencies ft. Alan Dunne

In today’s episode, Alan Dunne joins us to discuss currency markets and how we might see a new era of volatility in these markets moving forward, de-dollarization and the future prospects of the U.S dollar, recent performance of Trend Following and how it compares historically, insights from Alfred Winslow Jones as featured in the book, “More Money Than God”, portfolio construction techniques for managing risk, the importance of having a plan, long-only commodities vs. a long/short approach

Apr 24, 2022 • 1:12:01

GM11: The Billionaires Protocol ft. Dr. Ben Hunt

GM11: The Billionaires Protocol ft. Dr. Ben Hunt

Today, Niels and Cem are joined by Dr. Ben Hunt, Creator of Epsilon Theory, to discuss how he uses game theory, history and behavioral analysis to understand Narrative and how it is used as a weapon to influence human behaviour, how technology has made us more susceptible to "nudging", how Narrative is used to create more competition, division and inequality, how important it is to recognize “the water in which we swim”, the power of Narrative and control of the media, and how to fight back agai

Apr 20, 2022 • 1:10:40

SI188: Trading with Style ft. Jerry Parker

SI188: Trading with Style ft. Jerry Parker

Jerry Parker joins us in today’s episode, to discuss pros and cons of adding different trading styles to your strategy and how to react when bad periods occur, using borrowed money as part of a systematic trading approach, expected returns of equities, finding the best investment strategy, achieving a high level of consistency in your Trend Following returns, using AI and Machine Learning to predict the future, Divergent Regimes and how they may last a lot longer this time, the geometry of class

Apr 16, 2022 • 1:09:59

ALO08: Investing like the Rothschild's ft. Hugo Capel Cure

ALO08: Investing like the Rothschild's ft. Hugo Capel Cure

Today, Alan Dunne is joined by Hugo Capel Cure, Managing Director of Rothschild & Co, to discuss how they build strong portfolios for their clients, how rising inflation can affect the markets in a surprising way, how they use CTAs and Trend Followers to mitigate risk, the challenges of staying invested, being a stock and fund picker at the same time, how manager selection is like a dating process and how they differentiate between process and outcome, how they make good decisions as a team,

Apr 13, 2022 • 1:01:15

SI187: Why Commodities & Why Now ft. Tim Pickering

SI187: Why Commodities & Why Now ft. Tim Pickering

In this week’s episode, Tim Pickering, Founder of Auspice Capital, joins me to discuss why commodities play such an important role in a portfolio, how to create a strategy that adapts to different volatility regimes, why he created The Auspice Broad Commodity Index, the role and importance of ESG in commodities trading, how commodity futures can be used as a risk mitigation tool, why Ukraine is so important for commodities, how to effectively protect yourself against inflation and much more-----

Apr 9, 2022 • 1:09:49

ALO07: CIOs on the Edge of Finance ft. Katherine Molnar & Andrew Spellar

ALO07: CIOs on the Edge of Finance ft. Katherine Molnar & Andrew Spellar

In today’s episode, Alan Dunne is joined by Katherine Molnar, CIO of Fairfax County Police Officers Retirement System, and Andrew Spellar, CIO of Fairfax County Employees Retirement System, to discuss how asset allocation is handled by one of the best performing public pension funds, how they manage risk and balance their portfolio through diversification, how the current instability in the markets has shaped their investment strategy, expectations of returns for different investment strategies,

Apr 6, 2022 • 1:10:09

SI186: Crisis Alpha & My Trend Following Thesis ft. Richard Brennan

SI186: Crisis Alpha & My Trend Following Thesis ft. Richard Brennan

Today, Rich and I discuss the Q1 Trend Following performance and how it turned out to be one of the best calendar quarters for the SG Trend and SG CTA indices. We also dive into my own "thesis" about trend following in a De-Globalized world and why I believe that we may be returning to the golden era of trend following, like in the 1970s, 80s and 90s. As usual we debated a few great questions from our community, relating to Volatility Targeting and how to manage your Stop-Loss. A lively episode

Apr 3, 2022 • 1:24:32

ALO06: Betting against Buffett ft. Ted Seides

ALO06: Betting against Buffett ft. Ted Seides

Today, Alan Dunne is joined by Ted Seides, host and creator of the Capital Allocators podcast, to discuss the investment approach and philosophy of David Swensen, the Yale Model and how Seides has used the model to develop his own approach, whether being a hedgefond allocator has become gradually more difficult over the years, the bet Seides made with Warren Buffett, asset allocation vs. manager selection and the challenges to overcome, what Seides has learned from doing his podcast, decisi

Mar 30, 2022 • 1:03:16

SI185: Trend Following in a De-Globalised World

SI185: Trend Following in a De-Globalised World

Mark Rzepczynski joins me in this week’s episode, to discuss strategies for rebalancing your portfolio, the coming de-globalisation and its impact on Trend Following, especially in light of events in Ukraine, the Hedger’s dilemma and how the LME may have lost the trust of its clients, divergence and how it might cause disruption in markets, what Mark learned from working with Ned Johnson III at Fidelity, and how the principle of Kaizen can be applied to trend following.-----EXCEPTIONAL RESOURCE:

Mar 26, 2022 • 1:18:29

TTU120: Carry - The Good, the Bad and the Ugly ft. Kevin Coldiron

TTU120: Carry - The Good, the Bad and the Ugly ft. Kevin Coldiron

In this episode, Niels and Rob is joined by Kevin Coldiron, co-author of the book “The Rise of Carry” and lecturer in Asset Management at UC Berkeley, to discuss the use of carry trading as a trading strategy, how it relates to volatility and risk, how carry trading creates market feedback effects, and how that is distinct from feedback created by other strategies, how it can play a role in financial bubbles, whether we are still in a carry regime or transitioning away from it and what comes aft

Mar 23, 2022 • 1:06:54

SI184: To Trend Follow or Not To Trend Follow ft. Alan Dunne

SI184: To Trend Follow or Not To Trend Follow ft. Alan Dunne

In today's episode Alan Dunne joins me to discuss many different aspects of trend following - its relevance, strengths, weaknesses and future, roll-harvesting strategies, what causes trends in markets, whether it is too late to invest in trend following, its role within risk mitigation, how investors perceive trend following and if you really need to trade strategies that fits your personality.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this F

Mar 20, 2022 • 1:09:36

VOL11: The Anatomy of a Trade ft. Alex Gurevich

VOL11: The Anatomy of a Trade ft. Alex Gurevich

In this episode Hari is joined by Alex Gurevich, author, PhD in mathematics and founder of HonTe Investments, to discuss how he values bonds differently to many investors today, how to build a balanced portfolio, the many ways to loose money when buying an option (even if you are "kinda" right) as well as how he makes decisions as a trader, how to manage stress and keep a healthy lifestyle as a hedge fund manager and what the future of the global financial markets may look like.-----EXCEPTIONAL

Mar 16, 2022 • 1:01:33

SI183: Nickel Short Squeeze & Trend Following in an Unstable World ft. Jerry Parker

SI183: Nickel Short Squeeze & Trend Following in an Unstable World ft. Jerry Parker

Jerry Parker joins me in today’s episode to discuss trend following as a robust guide to the markets in a world of instability and insecurity. We also discuss the recent short squeeze in nickel which has led to an unprecidented response from the LME, how to develop a trend following system, and what to do if you miss a breakout trade. We dive into when to trade index-based products vs. single stocks, how to manage trailing stops, and Jerry's decision to stop doing trend following research and ro

Mar 12, 2022 • 1:23:45

ALO05: Better than Alpha ft. Chris Schelling

ALO05: Better than Alpha ft. Chris Schelling

In this episode, Alan Dunne is joined by Chris Schelling, Chief Investment Strategist at Venturi Private Wealth and author of the book “Better Than Alpha”, to discuss asset allocation and how assets are managed in the private space vs institutional space, about disrupting the 60/40 model and formulating a new standard, the evolution of the industry over the years, the role of liquidity in asset allocation, the use of Alpha and Beta in investment, what it takes to be a skilled manager and the ris

Mar 9, 2022 • 1:09:23

SI182: Trend Following in Times of Crises ft. Rob Carver

SI182: Trend Following in Times of Crises ft. Rob Carver

Today Rob Carver joins me to discuss how the Trend Following world is reacting to the aweful situation in Ukraine and how it affects markets and volatility, discussing the moral aspects of trend following in times of crises and we take lots of questions from our community regarding how to handle parabolic market moves, if trend following is over-crowded, who we believe is the next David Harding, how to allocate to different speeds of Momentum/Trend Following as well as thoughts on rebalancing as

Mar 5, 2022 • 1:25:07

ALO04: Insights from the Queens Bank CIO ft. Alan Higgins

ALO04: Insights from the Queens Bank CIO ft. Alan Higgins

On today’s episode, Alan Dunne is joined by Alan Higgins, the CIO and Chief Market Strategise of Coutts UK, also known as the Queens Bank, to discuss sound ways to invest in today’s environment, Alan’s interest at an early age in how to earn a risk premium, being a 60/40 investor and how the strategy will evolve, asset management vs. wealth management, distressed debt investing, behavioural biases, inflation, equity and interest rates, as well as the Yale Approach finishing off with some book re

Mar 2, 2022 • 1:03:01

SI181: The Power of Trend Following ft. Richard Brennan

SI181: The Power of Trend Following ft. Richard Brennan

Richard Brennan joins us today to discuss the power of Trend Following during periods of heightened uncertainty, Trend Following applied to the ESG space, how endogenous price shocks cause longer-term trends, the new Top Traders Monthly Trend Following report, shorter-term Trend Following versus longer-term, and how ‘buy the dip’ investors are likely unprepared for sustained underperformance in stocks.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CL

Feb 27, 2022 • 1:23:30

ALO03: Lessons from a $25 billion CIO ft. Elizabeth Burton

ALO03: Lessons from a $25 billion CIO ft. Elizabeth Burton

Alan Dunne is joined today by Elizabeth Burton to discuss managing a public fund versus a private fund, the challenges to those invested in the traditional 60 / 40 portfolio, the current outlook for inflation, performing above expectations, how to re-position a portfolio for higher expected inflation, fixed income versus real assets, categorising asset classes effectively, the limits of mean variance optimisation, using historical perspectives as an input into current decision-making, difficulti

Feb 23, 2022 • 1:03:46

SI180: Data Versus Stories & The "Moscow Rules" ft. Mark Rzepczynski

SI180: Data Versus Stories & The "Moscow Rules" ft. Mark Rzepczynski

Mark Rzepczynski joins us today to discuss Trend Following versus Momentum strategies, the need to be humble about making economic forecasts, how Central Bank policies affect Trend Following performance, Cathie Wood and ARKK coming under pressure from the media, Trend Following on options, calculating a systems’ risk-to-stop, vetting new investors for their ability to handle risk, hard data versus stories, when to apply the ‘Moscow rules’.-----EXCEPTIONAL RESOURCE: Find Out How to Build a S

Feb 20, 2022 • 1:17:24

ALO02: Properly Diversifying a $1.6Trillion Portfolio ft. Sebastien Page

ALO02: Properly Diversifying a $1.6Trillion Portfolio ft. Sebastien Page

Alan Dunne is joined today by Sebastien Page to discuss how price shocks affect correlations, approaches to strategic asset allocation, how to position portfolios for the years ahead, the current outlook for equities their various sectors, investing in a rising interest rate environment, responding to unexpected regime shifts in the markets, defining and achieving utility maximisation, the merits and drawbacks of mean variance analysis, how to properly diversify a portfolio, the durability of tr

Feb 16, 2022 • 1:16:07

SI179: A New Golden Era for Trend Followers ft. Alan Dunne

SI179: A New Golden Era for Trend Followers ft. Alan Dunne

Today, Alan Dunne joins me to discuss how the change of tone from central banks can affect markets globally, Trend Following in a rising interest rate environment, the case for and against including carry trades in a Trend Following portfolio, how managed futures Trend Following can help investors throughout ever-changing markets, the future of the traditional 60 / 40 portfolio, some takeaways from Alan’s conversation with Phil Huber on this week’s new Top Traders Unplugged Allocator Series

Feb 12, 2022 • 1:04:37

ALO01: Adapting to Market Cycles ft. Phil Huber

ALO01: Adapting to Market Cycles ft. Phil Huber

Alan Dunne is joined today by Phil Huber, in the first of our new Allocator Series, to discuss the education gap that needs to be filled regarding efficient capital allocation, the typical clients and types of portfolios that Phil deals with, adjusting portfolios to accommodate for changing market cycles, defining ‘alternative investments’, the extent to which a portfolio should be actively managed, traditional versus alternative investments, the challenges of manager selection, cultivating

Feb 9, 2022 • 1:05:58

SI178: Value Investing vs Trend Following ft. Jerry Parker

SI178: Value Investing vs Trend Following ft. Jerry Parker

Jerry Parker joins us today to discuss the importance of hanging on to your outlier winners, value investing versus trend following, the optimum number of entry & signals per trade, the need to redefine ‘safe assets’, Jerry & Richard Brennans’ thoughts on Howard Marks’ remarks about Trend Following, risk parity within a Trend Following portfolio, the unpredictability of endogenous outliers, and deconstructing the old narrative that ‘Trend Following is dead’.-----EXCEPTIONAL RESOURCE: Fin

Feb 6, 2022 • 1:16:57

VOL10: Why We All Need Volatility ft. Cem Karsan

VOL10: Why We All Need Volatility ft. Cem Karsan

Hari Krishnan is joined today by Cem Karsan, to discuss feedback loops across different markets, the decision to manage outside money, how institutions make trading decisions, the global macro effects from COVID-19, the importance of dealer flows in the markets, the feedback loop between options and their underlying assets, and approaches to delta hedging.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn this e

Feb 2, 2022 • 1:22:55

SI177: The Value of Price ft. Mark Rzepczynski

SI177: The Value of Price ft. Mark Rzepczynski

Mark Rzepczynski joins us today to discuss how Federal Reserve policy affects the Trend Following environment, the benefits of scaling into and out of positions, Howard Marks’ opinion on the value of price, the factors that drive commodity prices, why typical inflation-hedges may not be as reliable as their reputation implies, how Trend Following is the perfect way to complete your portfolio, and the differences between a ‘trend chaser’ and a trend follower.-----EXCEPTIONAL RESOURCE: Find Out Ho

Jan 31, 2022 • 1:16:54

VOL09: The Magical Properties of Money ft. David Orrell

VOL09: The Magical Properties of Money ft. David Orrell

Hari Krishnan is joined today by David Orrell, to discuss the problems with using physics analogies on financial markets, the cause and effects of price impacts, David’s new book: ‘Money, Magic, and How to Dismantle a Financial Bomb’, the magical properties of money, how sentiment drives price although it is so unpredictable in nature, the similarities between weather forecasting and economics, the sustainability of money creation by central banks, and some thoughts on cognitive interference.---

Jan 26, 2022 • 1:05:19

SI176: The Origin of Outliers ft. Richard Brennan

SI176: The Origin of Outliers ft. Richard Brennan

Richard Brennan joins us this week to discuss how to spot potential outlier trades before they occur, the power of simple trading rules over complexity, why endogenous events move markets 90% of the time and news events are behind only 10% of large market moves, how Trend Following models safely reduce risk exposure automatically as drawdowns increase, how to approach correlated markets in your portfolio, how to achieve diversification with limited capital, the Efficient Market Hypothesis versus

Jan 23, 2022 • 1:28:31

VOL08: Adaptation To Change ft. Jean-Philippe Bouchaud

VOL08: Adaptation To Change ft. Jean-Philippe Bouchaud

Hari Krishnan is joined today by Co-Founder & Chairman of Capital Fund Management (CFM) Jean-Philippe Bouchaud, to discuss how news drive price action, and some of the science behind the large price movements, how we should think about adapting to changing dynamics such as correlations, Jean-Philippe’s background in physics and journey into finance, the effectiveness of the Bloomberg terminal, using dimensional analysis for research purposes, the inelastic market hypothesis, differentiating

Jan 19, 2022 • 1:02:20

SI175: A Winning Approach to Risk ft. Rob Carver

SI175: A Winning Approach to Risk ft. Rob Carver

Rob Carver joins us today to discuss the different ways that Trend Following is perceived by investors, the optimum amount of positions to trade at once, rating the riskiness of various investment strategies, Trend Following on the VIX, suitable risk amounts per market, what to do with the free cash in your futures account, if Trend Followers pyramid positions, trading CFDs and dealing with transaction costs, and the best lookback period when measuring correlations.-----EXCEPTIONAL RES

Jan 16, 2022 • 1:26:06

VOL07: Participate & Protect ft. Dave Dredge

VOL07: Participate & Protect ft. Dave Dredge

Hari Krishnan is joined today by Dave Dredge, to discuss how long-volatility strategies can improve on the traditional 60/40 portfolio, the concept of ‘participate and protect’, the importance of understanding why compounding is the ultimate goal, the ‘always good weather’ portfolio, trading Bitcoin volatility, being a ‘value buyer’ of volatility, mechanisms for taking profits, and how to size portfolio allocations properly.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Pe

Jan 12, 2022 • 1:06:41

SI174: The Future of Trend Following ft. Alan Dunne

SI174: The Future of Trend Following ft. Alan Dunne

Today, Alan Dunne joins us to discuss what the future could look like without central bank liquidity being pumped into the markets, macro versus quantitative trading approaches, how to avoid crowded strategies, some post analysis of a trend following research paper, whether CTAs are being gamed by other participants, analysing the various methods of price trend measurements, what may have caused a more difficult trading environment for Trend Following strategies in the 2010s, and the economic fa

Jan 10, 2022 • 1:06:34

VOL06: Finding True Value in the World of Volatility ft. Benn Eifert

VOL06: Finding True Value in the World of Volatility ft. Benn Eifert

On today’s episode, Hari Krishnan is joined today by Benn Eifert, to discuss running a volatility fund, the benefits that Benn gets from using Twitter, how to effectively serve clients as a volatility trader, the drawbacks of hedging via ETFs, monitoring market flows, the popularity of short-dated options, implied volatility versus realised volatility, how correlations change over time, balancing family-life with managing a fund, and the new normalisation of working from home.-----EXCEPTIONAL RE

Jan 5, 2022 • 1:08:52

SI173: ‘Trend Following + Nothing’ Part Two ft. Jerry, Moritz, Rob, Mark & Rich

SI173: ‘Trend Following + Nothing’ Part Two ft. Jerry, Moritz, Rob, Mark & Rich

Today we continue our special Part 2 end-of-year episode featuring all co-hosts of the show, together at the same time, to discuss why you should be invested in numerous different markets, why more Trend Following firms should be trading single stocks, the optimum amount of systems to run at the same time, whether diversifying across markets or diversifying across systems is more important, some thoughts on positive skew, and defining outliers. We also review how 2021 went for each us, incl

Jan 2, 2022 • 1:33:01

TTU119: The Secret to becoming Richer, Wiser, Happier ft. William Green

TTU119: The Secret to becoming Richer, Wiser, Happier ft. William Green

What if there was one or two things that, above all, the best investors of all time have in common? Would you be interested to know what this is? Our special guest today, William Green, has written about this in his new book, called ‘Richer, Wiser, Happier’, where he draws upon his past interviews with over forty of the most successful investors of all time, to find out some of the ingredients that made them stand out. These elite group include Sir John Templeton, Charlie Munger, Howard Marks,

Dec 29, 2021 • 1:43:28

SI172: ‘Trend Following + Nothing’ Part One ft. Jerry, Moritz, Rob, Mark & Rich

SI172: ‘Trend Following + Nothing’ Part One ft. Jerry, Moritz, Rob, Mark & Rich

We have a special end-of-year episode for you today, featuring all of us together for the first time, to discuss why we are so passionate about Trend Following, the case for being a Trend Following purist, how to stay perfectly diversified, the art & perils of hunting outliers, the outlook for Trend Following performance, when and how to manually override a trading system, how to stay prepared for unexpected volatility events, and how to know if adjustments to a trading system are going to r

Dec 25, 2021 • 1:28:12

TTU118: TRILLIONS...The Passive Revolution ft. Robin Wigglesworth

TTU118: TRILLIONS...The Passive Revolution ft. Robin Wigglesworth

Passive & quantitative investing has grown exponentially over the years and is now responsible for trillions of dollars of investors’ capital. How has this affected the world of active money-management, and what does the rise of passive investing mean for the investment world overall? Well, it turns out that renown Financial Times Global Finance correspondent, Robin Wigglesworth, has a great new book out about passive investing called ‘Trillions’, and I couldn’t resist the temptat

Dec 22, 2021 • 1:37:30

SI171: Machine Learning - Pros & Cons ft. Hari Krishnan

SI171: Machine Learning - Pros & Cons ft. Hari Krishnan

Today we’re joined by special guest, Hari Krishnan, to discuss the advantages and drawbacks of machine learning-based trading strategies, successful funds that utilizes machine learning investment techniques, defining machine learning and comparing it with artificial intelligence, how Trend Following can best integrated with machine learning, the history of machine learning in the investment world, and we also answer some of your questions, such as how to select signals for a smaller trading acc

Dec 20, 2021 • 1:09:50

SI170: 'Don’t Try This At Home' ft. Rob Carver

SI170: 'Don’t Try This At Home' ft. Rob Carver

We’re joined today by Rob Carver to discuss how to approach position-sizing and risk-per-trade, mean reversion trading strategies, how to invest in globally diversified systematic Trend Following CTAs, ‘buying the dip’ in the S&P 500, static and dynamic optimisation when trading smaller accounts, and the inclusion of more obscure markets into a Trend Following system.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Build

Dec 12, 2021 • 1:23:19

TTU117: Strategic Risk Management ft. Cam Harvey & Rob Carver

TTU117: Strategic Risk Management ft. Cam Harvey & Rob Carver

How should you protect your portfolio against large losses, but without giving up its upside potential? To answer this question, and many more, I invited back professor of finance at Duke University, Campbell Harvey to the show. I also thought it would be fitting if Rob Carver, could also join us, considering Rob and Cam used to work together at Man AHL. Enjoy the show as we discuss how to navigate a crisis in the markets, and what to expect in terms of the global outlook for inve

Dec 9, 2021 • 1:17:54

SI169: Buying the Dip ft. Richard Brennan

SI169: Buying the Dip ft. Richard Brennan

Richard Brennan returns today to discuss the misconception of volatility as risk, thoughts on the various measures of risk, drawdowns as an opportunity ‘buy the dip’ in Trend Following strategies, how Richard thinks about risk, the relationship between volatility and risk, and the differences between convergent and divergent traders.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn this episode, we discuss:Why

Dec 5, 2021 • 1:10:15

TTU116: In Pursuit of the Perfect Portfolio ft. Steve Foerster

TTU116: In Pursuit of the Perfect Portfolio ft. Steve Foerster

If we could gather all of the famous investing pioneers from world history into one room and ask them to build the perfect portfolio, what would it look like? Well Steve Foerster and his co-author (and previous guest on the show) Andrew Lo, set out to do just that, with their new book called 'In Pursuit of the Perfect Portfolio'. I thought I'd invite Steve onto the show to discuss his new book, go through some of the 'golden threads' of investing that he came across, his journey in t

Dec 1, 2021 • 1:06:57

SI168: The Trading Secrets of Trend Followers ft. Mark Rzepczynski

SI168: The Trading Secrets of Trend Followers ft. Mark Rzepczynski

Mark Rzepczynski joins us today to discuss how markets will react to the likely upcoming tapering policies of central banks around the world, how Trend Followers overcome uncertainty, the reasons for and against overriding trading models, the historically optimum balance between bonds, stocks, and Trend Following, how trading non-correlated assets usually results in profitable long-term performance, and why longer-term trading systems tend to achieve the highest returns over time.-----EXCEPTIONA

Nov 28, 2021 • 1:14:24

VOL05: Maintaining Liquidity & Cash Efficiency ft. Zed Francis

VOL05: Maintaining Liquidity & Cash Efficiency ft. Zed Francis

Jason Buck is joined today by Zed Francis to discuss the benefits of adding volatility strategies to your portfolio, achieving a negative a correlation to equities during market downturns, what Zed calls the ‘3 trading levers’, profiting from institutional volatility players, problems with some long-volatility strategies, when a discretionary approach is needed, how to adjust a portfolio if volatility is persisting, some thoughts on the VIX ETF, helping clients to achieve capital efficient accou

Nov 24, 2021 • 1:09:14

SI167: The Road to Profits is Bumpy ft. Jerry Parker

SI167: The Road to Profits is Bumpy ft. Jerry Parker

Jerry Parker joins us today to discuss trading single stocks while maintaining a systematic approach, the benefits of trading a broad universe of assets, how investors naturally gravitate toward strategies with lesser returns, but hidden risks, why you need volatility in order to gain maximum returns, what to do with dividends as a Trend Follower, and diversifying Trend Following models versus diversifying look-back periods.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Pe

Nov 22, 2021 • 1:03:49

VOL04: Profiting from Short-Term Volatility ft. Bastian Bolesta

VOL04: Profiting from Short-Term Volatility ft. Bastian Bolesta

Special guest, Bastian Bolesta, joins Jason Buck today to discuss why volatility strategies should be added to our portfolios, how to keep improving as a trader while not over-optimising your systems, how recent large equity selloffs have affected Bastian’s approach to the markets, the average duration of his long volatility trades, how to weight recent data versus long-term data, trading VIX contracts intra-day, shorter-term Trend Following, momentum trading, mean-reversion strategies, and the

Nov 18, 2021 • 1:14:33

SI166: Riding the Waves of Volatility ft. Hari Krishnan

SI166: Riding the Waves of Volatility ft. Hari Krishnan

We’re joined by Hari Krishnan today, to discuss the ways in which Volatility strategies can complement Trend Following as a source of portfolio protection, how to manage expectations of investors, some experiences and thoughts from the large volatility events of 2018 and 2020, how to best protect yourself from large market selloffs, how to allocate between Trend Following and Volatility across different timeframes, and the possible effects of sustained inflation may have on volatility strategies

Nov 14, 2021 • 1:08:24

VOL03: The Evolution of the VIX ft. Stefan Wintner

VOL03: The Evolution of the VIX ft. Stefan Wintner

In today’s episode, Jason Buck is joined by Stefan Wintner of DUNN Capital, to discuss volatility as an asset class, the evolution of the VIX from its inception until now, some of the mechanics behind the VIX, the relationship between the VIX and the S&P 500, some thoughts on ‘volatility relative-value’ trading, the reliability of the VVIX, building and running models during different market environments, thoughts on kurtosis and skew, and volatility as a necessary component for a large Tren

Nov 10, 2021 • 1:14:48

SI165: Responsible Investing as a Trend Follower ft. Rob Carver

SI165: Responsible Investing as a Trend Follower ft. Rob Carver

Rob Carver joins us today to discuss the perception of cryptocurrencies since the new Bitcoin futures ETF was launched, scaling into and out of positions, the possibility of a synthetic Bitcoin supply resulting from the new futures ETF, how to approach climate change and ESG investing as a Trend Follower, ideas for selecting which markets to trade, the benefits and drawbacks of trading single stocks, and how to embrace a creative mindset.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer &

Nov 7, 2021 • 1:25:38

VOL02: Past, Present, & Future Volatility ft. Noel Smith

VOL02: Past, Present, & Future Volatility ft. Noel Smith

Today Jason Buck is joined by Noel Smith in the second of our series on Volatility. Topics discussed include: the benefits of ensemble investing, the predictability of market volatility, how certain market environments fool investors into thinking they are better than they really are, allocating between different strategies during different market environments, why nothing beats having ‘skin in the game’, balancing judgement calls versus algorithmic calls, pairs-trading VIX & bonds, determin

Nov 2, 2021 • 1:13:37

SI164: Compounding - The 8th Wonder of the World ft. Richard Brennan

SI164: Compounding - The 8th Wonder of the World ft. Richard Brennan

This week, Richard Brennan joins us on the show to discuss how people can benefit from the effects of compounding while others end up a paying a price for it. We also cover some thoughts on ‘path dependency,' why those invested in stocks should diversify using Trend Following strategies, why stable returns can only be correctly judged over long time periods, how to analyse fund performance without being influenced by the effects of compounding, some thoughts on what is known as ‘geometric r

Oct 31, 2021 • 1:06:25

VOL01:  The New Nature of Stock Market Movements ft. Hari Krishnan

VOL01: The New Nature of Stock Market Movements ft. Hari Krishnan

Today Jason Buck is joined by Hari Krishnan in the first of our series on Volatility. Topics discussed include: the benefits of adding volatility strategies to your portfolio, why it can pay to avoid hedging when the crowd is already doing so, explaining the 'Put slingshot', how markets are different today from decades ago, protection against tail-risk, the psychology behind large markets sell-offs, and some thoughts on the effects of leverage on the markets.-----EXCEPTIONAL RESOURCE: Find Out

Oct 26, 2021 • 1:12:07

SI163: The Importance of Investment Narratives ft. Mark Rzepczynski

SI163: The Importance of Investment Narratives ft. Mark Rzepczynski

This week, Mark Rzepczynski joins us to discuss the Bitcoin ETF and the increasing likeliness that it won’t be banned by the US government, the need for money managers to convey good stories in order to simplify their processes to clients, why having a long track record of success, with one or two scars, is better than a perfect recent history, how Trend Following has been so successful over 6 decades, and how a non-secretive strategy like Trend Following compares to private equity strategies.--

Oct 23, 2021 • 1:19:13

SI162: Discussing The New Bitcoin Futures ETF ft. Moritz Seibert

SI162: Discussing The New Bitcoin Futures ETF ft. Moritz Seibert

We’re joined today by Moritz Seibert to answer some of the hardest questions in the Turtle Trader entrance exam, as well as discuss the new Bitcoin futures ETF, the drive towards ESG investments and how this affects global supply chains, the years’ top performers so far in our Trend Following systems, whether we can predict if a winning streak is about to end, why Bitcoin is often compared to gold, and whether crypto assets are more suited to shorter-term strategies.-----EXCEPTIONAL RESOURCE: Fi

Oct 17, 2021 • 1:18:16

SI161: Retaking the Turtle Trader Entrance Exam ft. Jerry Parker

SI161: Retaking the Turtle Trader Entrance Exam ft. Jerry Parker

Jerry Parker joins us for a very special episode today, where we invite him to answer the original interview questions from Richard Dennis’s famous Turtle Trader program. This is a fascinating insight into the world of Trend Following, and one which allows us to see whether Jerry has changed his opinions since working Richard Dennis, as well as explain some of his reasons for the answers chosen today. We’ve posted the questions in the timestamps below, so feel free to take the test and

Oct 9, 2021 • 1:01:47

SI160: Long-Term Performance vs Short-Term Hot Streaks ft. Rob Carver

SI160: Long-Term Performance vs Short-Term Hot Streaks ft. Rob Carver

Rob Carver returns to the show today to discuss the varying performances among CTAs during the notable market moves of the last few weeks, how to decide whether one system is better or worse than another, spread betting as part of a diversified portfolio, raising initial capital when starting a new firm, some thoughts on the US debt ceiling & its proposed '1 trillion dollar' coin, and how to safely improve your system while still adhering to its rules.-----EXCEPTIONAL RESOURCE: Find Out How

Oct 3, 2021 • 1:04:29

SI159: Embracing Uncertainty for Outsized Returns ft. Richard Brennan

SI159: Embracing Uncertainty for Outsized Returns ft. Richard Brennan

Richard Brennan joins us today to discuss the stabilising effect that a healthy allocation to Trend Following can have on a portfolio, how to achieve compounded wealth in the long-term with systematic investing, how Trend Following strategies can thrive in both crisis periods as well as good times, some thoughts on data distribution and ‘skewness’, how to effectively communicate the benefits of Trend Following to investors, and the art of ‘embracing uncertainty’ in order to maximise returns.----

Sep 25, 2021 • 1:08:02

SI158: The Secrets to Raising Capital ft. Mark Rzepczynski

SI158: The Secrets to Raising Capital ft. Mark Rzepczynski

Mark Rzepczynski joins us today to discuss why people are as important as processes when investors are choosing funds, the factors that can predict future performance of a fund manager, how Trend Following often performs best when markets are highly correlated, some thoughts on portfolio construction and the various ways to measure risk, the importance of having a strong narrative when communicating what you do to allocators, the infamous ‘bandwagon effect’ among investors, how current AUM can o

Sep 18, 2021 • 1:30:32

SI157: How to Make Money & Survive in the Markets ft. Jerry Parker

SI157: How to Make Money & Survive in the Markets ft. Jerry Parker

Today we are joined by Jerry Parker to discuss how shorter-term systems can be more susceptible to market noise, the importance of sticking with your system during different market environments, how major investment firms have consistently performed well by keeping Trend Following in their portfolios, some insights into Jerry’s approach to backtesting, the drawbacks of being labelled as a CTA, Jerry’s bold prediction that Trend Following firms will be the most popular type of investment fun

Sep 12, 2021 • 1:05:59

SI156: The Case for Buying at All-Time Highs ft. Moritz Seibert

SI156: The Case for Buying at All-Time Highs ft. Moritz Seibert

Moritz Seibert joins us today to discuss the benefits of ‘system diversification’, the case for buying at all-time highs, how classical Trend Following is performing this year, the optimal amount of sample size for an effective backtest, the best ways to monitor risk levels, some tips for starting a new Trend Following business, some recommended backtesting software for retail traders, and how to navigate around your broker’s negative interest rates.-----EXCEPTIONAL RESOURCE: Find Out How to Bui

Sep 5, 2021 • 1:04:56

SI155: How to Create the Perfect Backtest ft. Richard Brennan

SI155: How to Create the Perfect Backtest ft. Richard Brennan

This week, Richard Brennan joins us to discuss whether there are any similarities between Trend Following and other investment approaches, the benefits of ‘forward-testing’ a system, the art of ‘hunting outliers’, what the optimum level of leverage could be, how much total portfolio ‘risk-to-stop’ to aim for, some thoughts on margin requirements, and which other strategy complements Trend Following the best. We also took a deep dive into backtesting, touching on topics such as: how much we

Aug 28, 2021 • 1:29:07

SI154: Defining 'Outliers' from a Trend Follower's Perspective ft. Richard Brennan

SI154: Defining 'Outliers' from a Trend Follower's Perspective ft. Richard Brennan

Richard Brennan joins us today to discuss the current global risk factors that could cause a large liquidity event, what the term ‘outlier’ really means from a Trend Follower’s perspective, the role of currencies in a Trend Following portfolio, the point at which diversification can end up diluting returns, whether different asset classes should be traded on different timeframes, some thoughts on pyramiding, and defining ‘non-linearity’ when discussing Trend Following models.-----EXCEPTIONAL RES

Aug 21, 2021 • 1:05:09

SI153: Being Aware of Known & Unknown Risks ft. Mark Rzepczynski

SI153: Being Aware of Known & Unknown Risks ft. Mark Rzepczynski

Mark Rzepczynski joins us on the show this week to discuss the importance of being aware of known and unknown risks, how economic data can contribute to a profitable system, the different types of liquidity, how futures markets are some of the most liquid markets in the world, the need for a rules-based approach to the markets, how fundamental trends usually cause price trends, why making market predictions based on Federal Reserve announcements can be a bad idea, how the constant debasement of

Aug 14, 2021 • 1:11:17

SI152: Love Your Rules, But Not Your Positions ft. Jerry Parker

SI152: Love Your Rules, But Not Your Positions ft. Jerry Parker

Jerry Parker is on the show with us today to discuss Ethereum’s recent rise after a new ‘hard fork’, auto-correlation and its effects on Trend Following strategies, how trading extra markets can improve performance, drawdowns as a key to profiting from huge trends, how Trend Following firms who try to be too unique often end up underperforming, the power of pure Trend Following versus over-optimisation, why ESG investing should also take into account human rights issues, why you should love your

Aug 7, 2021 • 1:15:53

SI151 Long-Term Profitability vs Short-Term Luck ft. Moritz Seibert

SI151 Long-Term Profitability vs Short-Term Luck ft. Moritz Seibert

Today we’re joined by Moritz Seibert to discuss the efficacy of backtests, how to build a profitable spread trading model, Moritz’s addition of Ethereum futures to his portfolio, why commodities such as coal should still be traded, how to incorporate macro data into a systematic strategy, how to distinguish between long-term profitability and shorter-term luck, and the alternatives to Microsoft Excel for managing market data in a Trend Following system.-----EXCEPTIONAL RESOURCE: Find Out How to

Jul 31, 2021 • 1:01:19

SI150: Extracting Edges from the Market ft. Richard Brennan

SI150: Extracting Edges from the Market ft. Richard Brennan

This week, Richard Brennan from ATS Trading Solutions makes his debut on the show, and we discuss the complexity behind successful Trend Following strategies, momentum trading versus Trend Following, the importance of average win rate, how a weak edge can still lead to strong returns, deflationary environments and their past effects on the Trend Following models, which markets, and how many, to include in a profitable trading system, and how to find the perfect exit strategy with minimum ri

Jul 24, 2021 • 1:06:41

SI149: Model Anxiety & Algorithm Aversion ft. Mark Rzepczynski

SI149: Model Anxiety & Algorithm Aversion ft. Mark Rzepczynski

Mark Rzepczynski joins us this week to discuss ‘algorithm aversion’ and the science of how ‘model anxiety’ shows investors to be naturally wary of rules-based systems. We also discuss how to evaluate momentum data, how a busy week for market news can still be a quiet week for Trend Followers, the benefits of moving away from ‘peak complexity’ as soon as possible, why having too many filters can expose a trader to large opportunity costs, the optimal percentage amount of risk per trade, as w

Jul 18, 2021 • 1:08:23

149 Systematic Investor Series ft Mark Rzepczynski – July 18th, 2021

149 Systematic Investor Series ft Mark Rzepczynski – July 18th, 2021

Mark Rzepczynski joins us this week to discuss ‘algorithm aversion’ and the science of how ‘model anxiety’ shows investors to be naturally wary of rules-based systems.  We also discuss how to evaluate momentum data, how a busy week for market news can still be a quiet week for Trend Followers, the benefits of moving away from ‘peak complexity’ as soon as possible, why having too many filters can expose a trader to large opportunity costs, the optimal percentage amount of risk per trade, as well

Jul 18, 2021 • 1:08:23

SI148: The Importance of Capturing A Few Large Trends ft. Jerry Parker

SI148: The Importance of Capturing A Few Large Trends ft. Jerry Parker

Jerry Parker returns today to discuss why margin perhaps isn’t as important as people perceive it to be, the resurgence of ‘classical’ Trend Following, the importance of having a low Sharpe ratio, an update on Jerry’s Bitcoin positioning, the drawbacks of trading a single, longer-term timeframe, how European CTAs successfully compete with American CTAs, the best methods for measuring open risk, and why capturing the fewer large trends may be more important than the many small trends.Also check o

Jul 11, 2021 • 1:08:31

148 Systematic Investor Series ft Jerry Parker – July 11th, 2021

148 Systematic Investor Series ft Jerry Parker – July 11th, 2021

Jerry Parker returns today to discuss why margin perhaps isn’t as important as people perceive it to be, the resurgence of ‘classical’ Trend Following, the importance of having a low Sharpe ratio, an update on Jerry’s Bitcoin positioning, the drawbacks of trading a single, longer-term timeframe, how European CTAs successfully compete with American CTAs, the best methods for measuring open risk, and why capturing the fewer large trends may be more important than the many small trends. If you wou

Jul 11, 2021 • 1:08:31

SI147: The Perfect Exit Strategy ft. Moritz Seibert

SI147: The Perfect Exit Strategy ft. Moritz Seibert

Moritz Seibert joins us today discuss the benefits of stripping down your trading approach as much as possible, the various ways to exit a hugely profitable trade, the different forms of research related to your investing approach, simplification vs over-complication, the acceptable amount of margin per trade, spread-betting using a Trend Following strategy, and if you should trade all markets the same way or tailor to each market accordingly.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Sa

Jul 4, 2021 • 1:04:30

147 Systematic Investor Series ft Moritz Seibert – July 4th, 2021

147 Systematic Investor Series ft Moritz Seibert – July 4th, 2021

Moritz Seibert joins us today discuss the benefits of stripping down your trading approach as much as possible, the various ways to exit a hugely profitable trade, the different forms of research related to your investing approach, simplification vs over-complication, the acceptable amount of margin per trade, spread-betting using a Trend Following strategy, and if you should trade all markets the same way or tailor to each market accordingly. You can find some of Moritz’s work here, and over at

Jul 4, 2021 • 1:04:30

SI146: The Trend Following Mindset ft. Rob Carver

SI146: The Trend Following Mindset ft. Rob Carver

We’re joined today by Rob Carver to discuss why investors worried about inflation need to be invested in Trend Following strategies, the Russell 2000 being mainly comprised of companies that are losing money, long and short positions when Trend Following on ETFs, the difficulties in combining simple methods into a balanced and profitable system, open trade equity risk and if it can predict future returns, the perils of over-optimisation, embracing the mindset of Trend Following, and the results

Jun 28, 2021 • 1:29:40

146 Systematic Investor Series ft Rob Carver – June 28th, 2021

146 Systematic Investor Series ft Rob Carver – June 28th, 2021

We’re joined today by Rob Carver to discuss why investors worried about inflation need to be invested in Trend Following strategies, the Russell 2000 being mainly comprised of companies that are losing money, long and short positions when Trend Following on ETFs, the difficulties in combining simple methods into a balanced and profitable system, open trade equity risk and if it can predict future returns, the perils of over-optimisation, embracing the mindset of Trend Following, and the results

Jun 27, 2021 • 1:30:59

SI145: The 3 D's of Inflation ft. Mark Rzepczynski

SI145: The 3 D's of Inflation ft. Mark Rzepczynski

Mark Rzepczynski returns this week to discuss the recent decline in commodity prices, perceived hawkish comments from the Federal Reserve, trading narratives versus trading price action, the feasibility of Trend Following on options, the increased time & labour of short-term trading, the benefits of huge sample sizes, the differences between trading single stocks versus index futures, how investing rules offset our natural human tendencies, whether Technical Analysis contributes to typical T

Jun 20, 2021 • 1:18:02

145 Systematic Investor Series ft Mark Rzepczynski – June 20th, 2021

145 Systematic Investor Series ft Mark Rzepczynski – June 20th, 2021

Mark Rzepczynski returns this week to discuss the recent decline in commodity prices, perceived hawkish comments from the Federal Reserve, trading narratives versus trading price action, the feasibility of Trend Following on options, the increased time & labour of short-term trading, the benefits of huge sample sizes, the differences between trading single stocks versus index futures, how investing rules offset our natural human tendencies, whether Technical Analysis contributes to typical Trend

Jun 20, 2021 • 1:18:02

SI144: Why Single Stocks Should Matter to CTAs  ft. Jerry Parker

SI144: Why Single Stocks Should Matter to CTAs ft. Jerry Parker

Jerry Parker joins us on the show today to discuss why CTAs could be mistaken in excluding single stocks from their strategies, the possible benefits of having exposure to multiple trading systems, why price action is more important than predictions derived from fundamentals, recommended books for learning about Trend Following, the differences between paper-trading and disciplined execution of real trades, comparing Bitcoin futures to commodity futures, and the extent of simplicity a good tradi

Jun 13, 2021 • 1:21:30

144 Systematic Investor Series ft Jerry Parker – June 13th, 2021

144 Systematic Investor Series ft Jerry Parker – June 13th, 2021

Jerry Parker joins us on the show today to discuss why CTAs could be mistaken in excluding single stocks from their strategies, the possible benefits of having exposure to multiple trading systems, why price action is more important than predictions derived from fundamentals, recommended books for learning about Trend Following, the differences between paper-trading and disciplined execution of real trades, comparing Bitcoin futures to commodity futures, and the extent of simplicity a good tradi

Jun 13, 2021 • 1:21:30

SI143: How Decentralised Is Bitcoin? ft. Eric Crittenden

SI143: How Decentralised Is Bitcoin? ft. Eric Crittenden

Special guest Eric Crittenden returns to the show today to discuss the fallacies of the typical 60/40 portfolio, the Federal Reserve’s recent decision to begin tightening fiscal policy, Eric’s last appearance on the show which was at the March 2020 stock market bottom, different speeds of Trend Following, why stable returns doesn’t always equate to low risk, the difficulty in being comfortable with doing the opposite of what we’re wired to do, how managed futures can help investor’s portfolios,

Jun 7, 2021 • 1:26:10

143 Systematic Investor Series ft Eric Crittenden – June 7th, 2021

143 Systematic Investor Series ft Eric Crittenden – June 7th, 2021

Special guest Eric Crittenden returns to the show today to discuss the fallacies of the typical 60/40 portfolio, the Federal Reserve’s recent decision to begin tightening fiscal policy, Eric’s last appearance on the show which was at the March 2020 stock market bottom, different speeds of Trend Following, why stable returns doesn’t always equate to low risk, the difficulty in being comfortable with doing the opposite of what we’re wired to do, how managed futures can help investor’s portfolios,

Jun 6, 2021 • 1:26:10

TTU115: Building a Bulletproof Portfolio with Jason Buck of Mutiny Fund

TTU115: Building a Bulletproof Portfolio with Jason Buck of Mutiny Fund

What happens when an unexpected major event occurs and all of your supposedly diversified investments suddenly become correlated, before heading sharply to the downside? Jason Buck and his partner at Mutiny Fund have been thinking about this question for a long-time, and have created a portfolio designed to protect against these ‘Black Swan’, high-volatility events. Jason has been a long-time listener of the show, so it was only right that I invited him on to discuss s

Jun 1, 2021 • 1:17:47

115 Protection Against Black Swans & Building a Bulletproof Portfolio with Jason Buck of Mutiny Fund

115 Protection Against Black Swans & Building a Bulletproof Portfolio with Jason Buck of Mutiny Fund

'The typical pie-chart of diversification ends up being all long-GDP assets, which means these are going to do well in a risk-on environment, when we’re awash with liquidity. The problem is, when we see a sell off or a liquidity event like March 2020, we see the correlations of an ‘uncorrelated’ pie chart go to 1, which means that they all sell off at the same time.' - Jason Buck What happens when an unexpected major event occurs and all of your supposedly diversified investments suddenly becom

Jun 1, 2021 • 1:17:47

SI142: How Decentralised Is Bitcoin Really? ft. Rob Carver

SI142: How Decentralised Is Bitcoin Really? ft. Rob Carver

Rob Carver is on the show with us today to discuss why Elon Musk & the Chinese government might be proving that Bitcoin may not be as decentralised as first assumed, whether you should adjust your system according to the instrument being traded, some processes for reinvesting profits into your portfolio over time, thoughts on position sizing, different ways of defending against inflation, if short-term Trend Following may actually be as good as long-term Trend Following, and the sweet spot f

May 30, 2021 • 1:29:16

142 Systematic Investor Series ft Rob Carver – May 30th, 2021

142 Systematic Investor Series ft Rob Carver – May 30th, 2021

Rob Carver is on the show with us today to discuss why Elon Musk & the Chinese government might be proving that Bitcoin may not be as decentralised as first assumed, whether you should adjust your system according to the instrument being traded, some processes for reinvesting profits into your portfolio over time, thoughts on position sizing, different ways of defending against inflation, if short-term Trend Following may actually be as good as long-term Trend Following, and the sweet spot for n

May 30, 2021 • 1:29:16

SI141: Aligning 'Operation Tempo' with your Trading Personality ft. Mark Rzepcyznski

SI141: Aligning 'Operation Tempo' with your Trading Personality ft. Mark Rzepcyznski

Mark Rzepczynski joins us today to discuss China’s move to ban Bitcoin trading, the Federal Reserve’s announcement of research into a new central bank digital currency, some of the issues around inflation and how it might affect trading, the psychology of drawdowns and the time in between new highs, how inflation can distort price signals, the recent rise of the ‘Misery Index’, Michael Burry’s huge bet against Tesla, the importance of exits in Trend Following strategies, and matching the right ‘

May 23, 2021 • 1:15:48

141 Systematic Investor Series ft Mark Rzepczynski – May 23rd, 2021

141 Systematic Investor Series ft Mark Rzepczynski – May 23rd, 2021

Mark Rzepczynski joins us today to discuss China’s move to ban Bitcoin trading, the Federal Reserve’s announcement of research into a new central bank digital currency, some of the issues around inflation and how it might affect trading, the psychology of drawdowns and the time in between new highs, how inflation can distort price signals, the recent rise of the ‘Misery Index’, Michael Burry’s huge bet against Tesla, the importance of exits in Trend Following strategies, and matching the right ‘

May 23, 2021 • 1:15:37

SI140: Down Markets Are Often a Treasure to Trend Followers  ft. Jerry Parker

SI140: Down Markets Are Often a Treasure to Trend Followers ft. Jerry Parker

Jerry Parker joins us today to discuss the benefits of prioritising price over other factors, navigating a high-inflationary environment, how bad markets for average investors can often be great for Trend Followers, how public awareness of a market uptrend can often precede large price drops, the potential drawbacks of trying to standout too much as a money-manager, how classical Trend Following is an increasing rarity in the CTA space, the benefits of investing in Trend Following via a proven m

May 16, 2021 • 1:11:47

140 Systematic Investor Series ft Jerry Parker – May 16th, 2021

140 Systematic Investor Series ft Jerry Parker – May 16th, 2021

Jerry Parker joins us today to discuss the benefits of prioritising price over other factors, navigating a high-inflationary environment, how bad markets for average investors can often be great for Trend Followers, how public awareness of a market uptrend can often precede large price drops, the potential drawbacks of trying to standout too much as a money-manager, how classical Trend Following is an increasing rarity in the CTA space, the benefits of investing in Trend Following via a proven m

May 16, 2021 • 1:11:47

SI139: How to Beat Unpredictable Markets ft. Moritz Seibert

SI139: How to Beat Unpredictable Markets ft. Moritz Seibert

Moritz Seibert returns to the show today to discuss the Berkshire Hathaway annual general meeting, the possible raise in interest rates by the Federal Reserve, today’s great environment for Trend Following, the unpredictable nature of the markets and future trends, decentralised finance, increasing ESG requirements in the investment industry, the meteoric rise of Lumber prices, new and smaller Bitcoin futures contracts being listed on the CME, thoughts on Ethereum and Ethereum futures, and the p

May 9, 2021 • 1:04:13

139 Systematic Investor Series ft Moritz Seibert – May 9th, 2021

139 Systematic Investor Series ft Moritz Seibert – May 9th, 2021

Moritz Seibert returns to the show today to discuss the Berkshire Hathaway annual general meeting, the possible raise in interest rates by the Federal Reserve, today’s great environment for Trend Following, the unpredictable nature of the markets and future trends, decentralised finance, increasing ESG requirements in the investment industry, the meteoric rise of Lumber prices, new and smaller Bitcoin futures contracts being listed on the CME, thoughts on Ethereum and Ethereum futures, and the p

May 9, 2021 • 1:04:13

SI138: The 'Holy Trinity' of Security Selection ft. Rob Carver

SI138: The 'Holy Trinity' of Security Selection ft. Rob Carver

We’re joined today by Rob Carver to discuss the process of selecting single stocks for a Trend Following system, Rob’s holy trinity of security selection, the JP Morgan-backed fund making huge bets, via options, on the market remaining quiet, the knock-on effects from funds who make large, risky bets, the sweet-spot for average holding periods in a Trend Following system, ‘caveman-style’ Trend Following versus scaling in and out of positions, how to hedge against inflation, how Trend Follow

May 3, 2021 • 1:13:21

138 Systematic Investor Series ft Rob Carver – May 3rd, 2021

138 Systematic Investor Series ft Rob Carver – May 3rd, 2021

We’re joined today by Rob Carver to discuss the process of selecting single stocks for a Trend Following system, Rob’s holy trinity of security selection, the JP Morgan-backed fund making huge bets, via options,  on the market remaining quiet, the knock-on effects from funds who make large, risky bets, the sweet-spot for average holding periods in a Trend Following system, ‘caveman-style’ Trend Following versus scaling in and out of positions, how to hedge against inflation, how Trend Following

May 3, 2021 • 1:13:21

137 Systematic Investor Series ft Mark Rzepczynski – April 25th, 2021

137 Systematic Investor Series ft Mark Rzepczynski – April 25th, 2021

Today, Mark Rzepczynski returns to the show to discuss how Trend Following allows investors to own more risky assets, Systematic Global Macro versus Trend Following, the process of how an investor digests new information, classical Trend Following versus modern Trend Following with AI methods, whether rock-star hedge funds such as ARK Invest can end up being too greedy when seeking AUM, why it can be a good idea to avoid timing the different exposures of your portfolio as much as possible, some

Apr 25, 2021 • 1:21:01

SI137: Can AI Trading Be Better Than Classical Methods? ft. Mark Rzepczynski

SI137: Can AI Trading Be Better Than Classical Methods? ft. Mark Rzepczynski

Today, Mark Rzepczynski returns to the show to discuss how Trend Following allows investors to own more risky assets, Systematic Global Macro versus Trend Following, the process of how an investor digests new information, classical Trend Following versus modern Trend Following with AI methods, whether rock-star hedge funds such as ARK Invest can end up being too greedy when seeking AUM, why it can be a good idea to avoid timing the different exposures of your portfolio as much as possible, some

Apr 25, 2021 • 1:21:01

136 Systematic Investor Series ft Jerry Parker – April 18th, 2021

136 Systematic Investor Series ft Jerry Parker – April 18th, 2021

Jerry Parker returns to the show today to discuss the how investments can often turn into religions, the recent Coinbase IPO, using historical volatility for position sizing, comparing long-term trend following to Buy & Hold, ‘trend strength’ signals, how much of a portfolio should be allocated to Trend Following strategies, mean-reversion systems versus Trend Following systems, and thoughts on finding or adding to new positions. If you would like to leave us a voicemail to play on the show, you

Apr 18, 2021 • 1:11:52

SI136: When Investments Become A Religion ft. Jerry Parker

SI136: When Investments Become A Religion ft. Jerry Parker

Jerry Parker returns to the show today to discuss the how investments can often turn into religions, the recent Coinbase IPO, using historical volatility for position sizing, comparing long-term trend following to Buy & Hold, ‘trend strength’ signals, how much of a portfolio should be allocated to Trend Following strategies, mean-reversion systems versus Trend Following systems, and thoughts on finding or adding to new positions.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer &

Apr 18, 2021 • 1:11:52

SI135: WHY Trend Following is the Safest Investment Strategy ft. Moritz Seibert

SI135: WHY Trend Following is the Safest Investment Strategy ft. Moritz Seibert

Moritz Seibert joins us today to discuss the little-known hedge fund Archegos, who recently blew up and cost billions of dollars for large institutions such as Credit Suisse and Nomura. We also discuss whether cracks are beginning to show in the stock market, the bull market in commodities, opportunities for investing in Chinese commodity markets, the risks of trading in emerging markets, how to trade cryptocurrency futures, and combining Trend Following strategies with none-correlated strategie

Apr 11, 2021 • 1:17:19

135 Systematic Investor Series ft Moritz Seibert – April 11th, 2021

135 Systematic Investor Series ft Moritz Seibert – April 11th, 2021

Moritz Seibert joins us today to discuss the little-known hedge fund Archegos, who recently blew up and cost billions of dollars for large institutions such as Credit Suisse and Nomura. We also discuss whether cracks are beginning to show in the stock market, the bull market in commodities, opportunities for investing in Chinese commodity markets, the risks of trading in emerging markets, how to trade cryptocurrency futures, and combining Trend Following strategies with none-correlated strategie

Apr 11, 2021 • 1:17:19

SI134: Sticking with Short Positions ft. Jerry Parker

SI134: Sticking with Short Positions ft. Jerry Parker

Jerry Parker is back on the show with us today to discuss why short positions are beneficial to a profitable trading strategy, the importance of not over-tweaking an already good system, the case for Trend Following as the dominant strategy in an investment portfolio, the amount of volatility that can be regarded as too risky, and Jerry calls out Niels for a future debate regarding the possible uses of multi-timeframe analysis.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better

Apr 4, 2021 • 1:05:00

134 Systematic Investor Series ft Jerry Parker – April 4th, 2021

134 Systematic Investor Series ft Jerry Parker – April 4th, 2021

Jerry Parker is on the show with us today to discuss why short positions are beneficial to a profitable trading strategy, the importance of not over-tweaking an already good system, the case for Trend Following as the dominant strategy in an investment portfolio, the amount of volatility that can be regarded as too risky, and Jerry calls out Niels for a future debate regarding the possible uses of multi-timeframe analysis. If you would like to leave us a voicemail to play on the show, you can d

Apr 4, 2021 • 1:05:00

133 Systematic Investor Series ft Rob Carver – March 29th, 2021

133 Systematic Investor Series ft Rob Carver – March 29th, 2021

Rob Carver joins us today to discuss whether it’s a good idea to adjust your strategy during different periods of volatility, Bitcoin’s expected role as an inflation-hedge, whether commodities are more suited to shorter-term trading than other markets, the NFT frenzy & its credibility as an investment asset, volume analysis and whether it can be play worthwhile part in a Trend Following system, and why volatility may not be a good measure of risk. If you would like to leave us a voicemail to pl

Mar 29, 2021 • 1:21:25

SI133: Volatility Targeting ft. Rob Carver

SI133: Volatility Targeting ft. Rob Carver

Rob Carver joins us today to discuss whether it’s a good idea to adjust your strategy during different periods of volatility, Bitcoin’s expected role as an inflation-hedge, whether commodities are more suited to shorter-term trading than other markets, the NFT frenzy & its credibility as an investment asset, volume analysis and whether it can be play worthwhile part in a Trend Following system, and why volatility may not be a good measure of risk.-----EXCEPTIONAL RESOURCE: Find Out How to Bu

Mar 29, 2021 • 1:21:25

132 Systematic Investor Series ft Mark Rzepczynski – March 21st, 2021

132 Systematic Investor Series ft Mark Rzepczynski – March 21st, 2021

Mark Rzepczynski joins us today to discuss Jerome Powell’s recent speech and how central banks can often confuse markets, the potential of Artificial Intelligence in systematic investing, whether or not holding government bonds is a good idea, the recent rise in interest rates and what it means for the stock market, the relationship between correlations and volatility, why policy makers should avoid trying to engineer future expectations, how recency-bias affects our decision making,  complexity

Mar 21, 2021 • 1:28:48

SI132: Overcoming Recency Bias for Better Decision Making ft. Mark Rzepcyznski

SI132: Overcoming Recency Bias for Better Decision Making ft. Mark Rzepcyznski

Mark Rzepczynski joins us today to discuss Jerome Powell’s recent speech and how central banks can often confuse markets, the potential of Artificial Intelligence in systematic investing, whether or not holding government bonds is a good idea, the recent rise in interest rates and what it means for the stock market, the relationship between correlations and volatility, why policy makers should avoid trying to engineer future expectations, how recency-bias affects our decision making,

Mar 21, 2021 • 1:28:48

SI131: Winning Big During An Inflationary Environment ft. Moritz Seibert

SI131: Winning Big During An Inflationary Environment ft. Moritz Seibert

Moritz Seibert returns to the show today to discuss the challenges of managing large amounts of cash in a high-inflationary environment, the importance of maintaining a healthy attitude during long winning-streaks, the resurgence & resilience of the GameStop short-squeeze, Bitcoin reaching $60,000, the importance of prioritising process over outcome, the new VIX ETFs for Bitcoin & Ethereum, and whether or not Gold is a safe long-term investment.-----EXCEPTIONAL RESOURCE: Find Out How to

Mar 14, 2021 • 1:09:47

131 Systematic Investor Series ft Moritz Seibert – March 14th, 2021

131 Systematic Investor Series ft Moritz Seibert – March 14th, 2021

Moritz Seibert returns to the show today to discuss the challenges of managing large amounts of cash in a high-inflationary environment, the importance of maintaining a healthy attitude during long winning-streaks, the resurgence & resilience of the GameStop short-squeeze, Bitcoin reaching $60,000, the importance of prioritising process over outcome, the new VIX ETFs for Bitcoin & Ethereum, and whether or not Gold is a safe long-term investment. If you would like to leave us a voicemail to play

Mar 14, 2021 • 1:09:47

130 Systematic Investor Series ft Jerry Parker & Rob Carver – March 7th, 2021

130 Systematic Investor Series ft Jerry Parker & Rob Carver – March 7th, 2021

We have a special episode for you today featuring Turtle Trading legend Jerry Parker and renown Systematic Investor Robert Carver, who debate the topic of Volatility Targeting and how actively one should manage open trade equity risk.  We also discuss the benefits of ‘Hybrid Trend Following’ versus classical Trend Following, breakouts & moving averages versus other trend indicators, whether the 2020 market crash should have caused systematic investors to update their strategies, and if short pos

Mar 7, 2021 • 1:23:28

SI130: Volatility-Targeting: The Big Debate ft. Jerry Parker & Rob Carver

SI130: Volatility-Targeting: The Big Debate ft. Jerry Parker & Rob Carver

We have a special episode for you today featuring Turtle Trading legend Jerry Parker and renown Systematic Investor Robert Carver, who debate the topic of Volatility Targeting and how actively one should manage open trade equity risk. We also discuss the benefits of ‘Hybrid Trend Following’ versus classical Trend Following, breakouts & moving averages versus other trend indicators, whether the 2020 market crash should have caused systematic investors to update their strategies, and if s

Mar 7, 2021 • 1:23:28

SI129: Correlation & Volatility…and is holding bonds “Stupid”? ft. Mark Rzepczynski

SI129: Correlation & Volatility…and is holding bonds “Stupid”? ft. Mark Rzepczynski

We’re joined today by Mark Rzepczynski to discuss the return of the GameStop short-squeeze, Trend Following in a high interest-rate environment, the future of AI & machine learning in trading models, the case for including short positions in a portfolio, how to spot a commodity ‘super-cycle’, the different factors driving markets higher, why good news can often be bad news for markets, retail investors opening trades on the wrong ticker symbols, and why Trend Following tends to do better on

Feb 28, 2021 • 1:16:10

SI128: Investing during Inflationary or Deflationary periods ft. Jerry Parker

SI128: Investing during Inflationary or Deflationary periods ft. Jerry Parker

Jerry Parker returns today to discuss how Trend Following is perfectly suited for both inflationary and deflationary environments, why investors tend to underperform the S&P500 index, how to look at open trade risk & current equity curve, the perils of designing the ‘perfect’ trading system with all the bells & whistles, whether or not it’s a good idea to tighten stop-losses on profitable trades that have risen sharply, why financial media tends to dramatise the impact CTAs have on t

Feb 22, 2021 • 1:18:27

SI127: Bitcoin's rise to $50,000 & new Ethereum futures ft. Moritz Seibert

SI127: Bitcoin's rise to $50,000 & new Ethereum futures ft. Moritz Seibert

Today, we discuss Bitcoin’s rise to $50,000 and how to judge its future role in society, Moritz’s incredible start to the year without changing any part of his trading system, CME’s introduction of Ethereum futures, The Big Short’s Michael Burry calling a top in Tesla, India’s proposed Bitcoin ban, and how a fascinating study, using over 1 million investment combinations, showed that a 30% allocation to Trend Following increased risk-adjusted-returns on every single occasion.-----EXCEPTIONAL RES

Feb 15, 2021 • 1:04:50

SI126: GameStop & How to become a Systematic Investor ft. Rob Carver

SI126: GameStop & How to become a Systematic Investor ft. Rob Carver

Rob Carver returns to the show today to give us his thoughts on the WallStreetBets Reddit forum & their Gamestop short-squeeze, the gamification of trading, why Robinhood had to suspend trading on Gamestop, the attempted short-squeeze in the Silver market, Rob’s recent article on how to become a systematic trader, Niels’ journey into the CTA industry, the importance of diversifying amongst investment processes as well as securities, the rise of passive investing over active, and whether the

Feb 7, 2021 • 1:38:06

SI125: Will the FED always prevent prolonged market crashes ft. Mark Rzepczynski

SI125: Will the FED always prevent prolonged market crashes ft. Mark Rzepczynski

Mark Rzepczynski joins us today to discuss the Gamestop short-squeeze, democratisation of the investment industry, the increasing expectation among investors that the Federal Reserve will always prevent prolonged market crashes, the 3 main ingredients for a market bubble, whether we are seeing a bubble in the stock market today, the role of short sellers and short selling, whether the WallStreetBets Reddit forum will prompt newer and tighter regulations in the future, the shift towards passive i

Jan 31, 2021 • 1:19:12

SI124: Why smart people often struggle with systematic investing ft. Jerry Parker

SI124: Why smart people often struggle with systematic investing ft. Jerry Parker

Turtle Trading legend Jerry Parker joins us today to discuss why smart people often struggle with systematic investing, the benefits of non-predictive investment strategies, what changes Jerry would make to Richard Dennis and William Eckhart’s original Turtle Trading rules, why predefined trade exits are good for your mind-state, why Trend Following strategies are so suited to unexpected market events, the importance of sticking to the core principles when applying a Trend Following system, whet

Jan 24, 2021 • 1:01:30

SI123: The benefits of NOT taking profits too early ft. Moritz Seibert

SI123: The benefits of NOT taking profits too early ft. Moritz Seibert

In today’s show, we discuss the benefits of not taking profits too early during huge price moves, how a Trend Follower might be trading Bitcoin, if March 2020 may have impacted a Trend Follower’s approach to the markets, why the S&P 500 could be considered just as much of an ‘alternative’ market as Iron Ore, our most memorable trades, Bitcoin as a great diversifier in a Trend Following portfolio, and how a retail trader can gain access to managed futures. Questions we answer this week

Jan 18, 2021 • 1:24:31

SI122: Quant vs Discretionary Investing ft. Robert Carver

SI122: Quant vs Discretionary Investing ft. Robert Carver

We’re joined today by Rob Carver to discuss how quant managers compared to discretionary managers in 2020, Winton Capital’s underperformance and resulting loss of AUM, the pressure for successful Trend Following firms to expand into different investment styles, why March & December 2020 were generally the best for Trend Followers despite being so different, how a portfolio combining a few historically successful Trend Following firms has proven to be a very potent investment strategy, naviga

Jan 10, 2021 • 1:21:40

SI121: How to Design a Profitable Trend Following System

SI121: How to Design a Profitable Trend Following System

In this episode, I conclude my special 2-part series on how to design a Trend Following system, with a deeper dive into some performance statistics over the last couple of decades, including correlations, drawdowns and how different market environments have impacted our system. I also touch on how to add some ‘personality’ to a fully algorithmic trading system.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder To

Jan 6, 2021 • 36:15

SI120: Deep dive into my own Trend Following Model

SI120: Deep dive into my own Trend Following Model

In today’s special episode, I go deep into how to design a robust and profitable Trend Following program. I also cover topics such as why having an opinion on any of your trading positions can be a bad idea, how Trend Following returns can vary massively with just a slight shift in portfolio weightings, the benefits of having a unique approach to the markets, and why longer-term trading may be more profitable than short-term trading.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer

Jan 2, 2021 • 37:01

SI119: Trading TESLA & Commodity Breakout ft. Jerry & Moritz

SI119: Trading TESLA & Commodity Breakout ft. Jerry & Moritz

Today we welcome back Jerry Parker and Moritz Seibert onto the show to discuss the possible long-term breakout of commodity prices, trading Tesla around its inclusion into the S&P 500 index, carrying out non-system trades, Bitcoin reaching new all-time highs, the importance of staying in some of these long-awaited trends, relying on your backtest regardless of the circumstances, why long-only buy & hold funds might not deserve many plaudits this year, the perfect time to make adjustments

Dec 21, 2020 • 1:22:28

SI118: 2020 Trend Following Recap & safe-havens in 2021 ft. Mark & Moritz

SI118: 2020 Trend Following Recap & safe-havens in 2021 ft. Mark & Moritz

Special guest Mark Rzepczynski returns to the show today to discuss how Trend Following strategies performed during this very unusual year, the likeliest safe-haven assets of 2021, whether or not 2020 should be a year that brings about new adjustments to your trading systems, how being nimble can increase robustness, Trend Following as a ‘store of value’, whether the context of financial & world news should be important to systematic trading, the disconnect between financial assets & the

Dec 13, 2020 • 1:13:49

SI117: Why Stocks and Trend Following is a Perfect Match ft. Moritz Seibert

SI117: Why Stocks and Trend Following is a Perfect Match ft. Moritz Seibert

Today, we discuss why a random calendar year is not a good measure of performance, recent increased volatility in alternative markets, how to define an ‘alternative’ market, the strong case for a mixed portfolio of stocks & Trend Following strategies, how to perform the easy-money Bitcoin trade, the benefits of using and investing in Bitcoin, trading the Chinese futures markets, and why a Trend Following system would have entered you into a Tesla position without the need for any predictions

Dec 6, 2020 • 1:12:44

TTU114: 2021 Market Predictions ft. Mahendra Sharma of Financial Astrology

TTU114: 2021 Market Predictions ft. Mahendra Sharma of Financial Astrology

I first interviewed today’s guest back in 2015, where he predicted the Dow Jones Index would go to 32,000…a bold call back then. Mahendra Sharma is an astrological investor with an amazing track record of accurately predicting market fluctuations. He has spent his career studying astrological charts and conveying those findings, along with his understanding of human behavior, into a lucrative business giving advice on when to sell and when to hold various commodities, bonds, and currencies. His

Dec 2, 2020 • 1:15:39

SI116: How to manage emotions regardless of your performance ft. Moritz Seibert

SI116: How to manage emotions regardless of your performance ft. Moritz Seibert

In today’s episode, we discuss how to effectively manage your emotional stability regardless of trading performance, the true value of Bitcoin and the various catalysts behind its price movements, the importance of being able to get back into a trade you may have recently been stopped out of, managing leverage and volatility in a portfolio, how to approach extreme anomalies in historical price data, and much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Po

Nov 29, 2020 • 1:00:48

SI115: Open trade Equity vs Realized Profits and Value vs Growth ft. Rob and Moritz

SI115: Open trade Equity vs Realized Profits and Value vs Growth ft. Rob and Moritz

Rob Carver returns to the show today to discuss the relevance of open trade equity compared to closed trade equity, the reported return of value’s reign over growth stocks, combining Trend Following portfolios with other strategies, the important of using significant sample sizes when analysing data, why successful systematic traders tend to have the longest documented returns on record. Questions we answer include: Which type of moving average is generally the most effective in Trend Foll

Nov 22, 2020 • 1:27:47

SI114: The importance of Short Sellers and Pfizer CEO selling stocks ft. Moritz Seibert

SI114: The importance of Short Sellers and Pfizer CEO selling stocks ft. Moritz Seibert

This week, we discuss the importance of short sellers for well-functioning markets, the benefits of trading index futures versus cash equities, diversification in a robust Trend Following system, Pfizer’s CEO selling a majority of his stock holdings around the vaccine announcement, the differences between top independent discretionary traders & professional money managers, and the increasing use of Modern Monetary Theory (MMT). Questions we answer this week include: Are shorter timefra

Nov 16, 2020 • 1:09:55

TTU113: Why Farmland Investments is getting traction ft. Artem Milinchuk of FarmTogether

TTU113: Why Farmland Investments is getting traction ft. Artem Milinchuk of FarmTogether

Artem Milinchuk is the CEO and Founder of FarmTogether, a firm specializing in farmland investments. Artem was born in the waning days of the Soviet Union, and while growing up in Russia, saw the importance of access to fresh food for a society. Artem joins us today to talk about his investment journey and why he feels that having farmland as an asset class in your investment portfolio can be one of the smartest investment moves you can make.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Saf

Nov 12, 2020 • 1:05:54

SI113: The Unknown Market Wizards ft. Jack Schwager

SI113: The Unknown Market Wizards ft. Jack Schwager

Today, we welcome legendary author Jack Schwager onto the show to discuss his new book ‘Unknown Market Wizards’ and a range of topics such as: what timeframe makes the most successful trader, how the best traders seem to have uncorrelated returns to the overall stock market, why elite traders can often have terrible starts to their careers, how embracing risk management can take returns to a much higher level, what investors should look for in a money manger, mean-reversion versus momentum tradi

Nov 9, 2020 • 1:11:13

SI112: How and When to improve your trading system ft. Moritz Seibert

SI112: How and When to improve your trading system ft. Moritz Seibert

In today’s episode, we discuss the continual need for improvements to a system, the importance of good housekeeping when it comes to managing a portfolio, the varying amounts of leverage among CFD brokers, choosing whether to accept outside investment into your strategy or go it alone, using profit stops versus letting your winners run, and the importance of protecting your intellectual property. Questions we answer this week include: How do experienced CTAs trade through limit-down (or li

Nov 1, 2020 • 1:12:33

SI111: Trend Following pros and cons ft. Michael Covel

SI111: Trend Following pros and cons ft. Michael Covel

Legendary Trend Following author & podcast host, Michael Covel, joins us today to discuss the far-reaching popularity of his books, the advantages of allocating to a Trend Following manager rather than DIY trading, managing money for clients vs being an unknown successful private trader, why Trend Following funds should worry about AUM growing to be too large, why Trend Following still deserves an important allocation to any investment portfolio after recent mediocre returns, and whether cen

Oct 25, 2020 • 1:07:52

TTU112: The Art of Investing ft. Scott Lynn of Masterworks

TTU112: The Art of Investing ft. Scott Lynn of Masterworks

Scott Lynn is the Founder and CEO of Masterworks. He began his career as a serial entrepreneur, starting tech companies focused on casual gaming, online advertising and financial technology. All along the way he collected art, and after seeing the data available in the last twenty years thanks to the Internet, Scott decided to pursue art as an investment. Art as an asset class has been around for hundreds of years, but only recently has been seen as a viable investment opportunity – made possibl

Oct 22, 2020 • 57:52

SI110: US Election and how to trade Cryptos with rules ft. Moritz Seibert

SI110: US Election and how to trade Cryptos with rules ft. Moritz Seibert

This week, we discuss how markets are handling current US presidential election uncertainty, why a healthy allocation to Trend Following strategies may be needed now more than ever, our thoughts on trading systematically in the cryptocurrency markets, and how to invest in Trend Following funds with relatively low capital. We also answer your questions, including: how do I share the details of my successful trading strategy with my employer, who is a money management firm?-----EXCEPTIONAL RESOURC

Oct 19, 2020 • 1:07:41

SI109: Investing like a legend ft. Perry Kaufman

SI109: Investing like a legend ft. Perry Kaufman

Systematic trading and Trend Following legend, Perry Kaufman, joins us on the show today to discuss the importance of being comfortable with risk, the benefits of continuously ranking & evaluating markets, the importance of ‘fat tails’ in Trend Following systems, why you might want to use equal risk with every trade, how to avoid being over-correlated, trading single stocks vs indices, opinions on profit targets, and why he generally prefers long trades vs short trades.-----EXCEPTIONAL RESOU

Oct 12, 2020 • 1:29:52

SI108: The case for and against the Kelly Criterion ft. Robert Carver

SI108: The case for and against the Kelly Criterion ft. Robert Carver

Robert Carver joins us today to discuss the case for and against the Kelly Criterion, short vs medium vs long-term Trend Following, how closely you should be following different markets, diversification across markets vs across timeframes, how mainstream financial media is driving investors to alternative information sources, the amount of screens you need to trade successfully, and the importance of viewing returns in terms of percentage rather than monetary terms.-----EXCEPTIONAL RESOURCE: Fin

Oct 4, 2020 • 1:22:05

SI107: Best and Worst markets to trade and benefits of adding the S&P500 ft. Moritz Seibert

SI107: Best and Worst markets to trade and benefits of adding the S&P500 ft. Moritz Seibert

In this episode, we discuss the best & worst markets for Trend Following strategies in recent years, the benefits of trading & investing across multiple timeframes, how a combined portfolio of Trend Following & the S&P500 has been historically lucrative, the perils of a market that is stuck in a large trading range, and how 3 months can easily change your year-to-date performance. Questions we answer include: What are your thoughts on inflation & fixed income, as they r

Sep 27, 2020 • 1:13:07

SI106: Ray Dalio's underwhelming 2020 performance and the FED ft. Moritz Seibert

SI106: Ray Dalio's underwhelming 2020 performance and the FED ft. Moritz Seibert

Today, we discuss the Federal Reserve’s current inflation targets, whether it is ok for systematic managers to turn off their systems during periods of high volatility & uncertainty, the looming questions around Ray Dalio & Bridgewater’s underwhelming performance in 2020, volatility control vs risk control, and why liquidity should be an important deciding factor for investors when choosing a money manager. Questions we answer this week include: How do you size your positions once

Sep 18, 2020 • 58:18

SI105: TESLA & How paper trading can dramatically differ to live trading ft. Moritz Seibert

SI105: TESLA & How paper trading can dramatically differ to live trading ft. Moritz Seibert

On today’s show, we discuss Tesla’s threat to the current giants of European car manufacturing, how paper trading can dramatically differ to live trading, the drawbacks of Systematic Investing through a broker’s platform rather than manually operating the system, the benefits of including commodities & currencies in a Trend Following system, and the case against long/flat-only Trend Following on stocks. Questions we answer this week include: Do you recommend any platforms that you allo

Sep 13, 2020 • 52:37

GM10: MMT, Global Warming and the Uniqueness of the 2020 Crisis ft. Steve Keen

GM10: MMT, Global Warming and the Uniqueness of the 2020 Crisis ft. Steve Keen

We are extremely honoured to welcome Steve Keen, the legendary Australian economist, to our podcast today. Steve is one of the leading critics of mainstream economics, and in our conversation provided a valuable alternative perspective to some of the critical issues facing us today. As you might expect, we did spend time discussing the COVID crisis and the potential policy options for addressing its economic effects, but we also touched on a range of other topics, from climate change to digital

Sep 9, 2020 • 1:04:20

SI104: Inconvenient truths about Trend Following ft. Roberto Osorio

SI104: Inconvenient truths about Trend Following ft. Roberto Osorio

Today, we’re delighted to welcome Roberto Osorio, Vice President, Trading Systems at DUNN Capital, onto the show. Niels pitches Roberto some of our most fiercely debated topics so far, such as the optimal amount of markets to trade, diversification in all of its forms, the pros & cons of Volatility Targeting, how to accurately recognise model decay, Black Swan strategies and why they maintain popularity regardless of performance, the best look-back period for Trend Following strategies, and

Sep 7, 2020 • 59:39

SI103:  FED's Powell, Dave Portnoy and the potential Bond market bubble ft. Robert Carver

SI103: FED's Powell, Dave Portnoy and the potential Bond market bubble ft. Robert Carver

Rob Carver returns to the show this week to discuss Jerome Powell’s comments at Jackson Hole, the potential Bond market bubble that very few are talking about, the sweet-spot for Trend Following fund AUMs, Dave Portnoy’s influence on Robinhood traders, Tom Basso’s recent interview with Meb Faber, and the continual need to improve your successful trading strategies. Questions we answer this week include: Do you know of any Trend Following funds who use the Black-Litterman model of asset all

Aug 31, 2020 • 1:26:13

GM09: Mistakes from the past to guide us forward ft. Lyn Alden

GM09: Mistakes from the past to guide us forward ft. Lyn Alden

We are very pleased to welcome Lyn Alden to the studio today, the founder of Lyn Alden investment strategy. Lyn is from an engineering background, and hence, as you might expect, brings a logical and rigorous approach to thinking about economics and financial markets. In our fascinating conversation Lyn was able to draw on her considerable knowledge and understanding of history to inform us in thinking about today’s problems. Our discussion spanned high level thinking about multi decade trends,

Aug 26, 2020 • 1:01:33

SI102: TESLA and the famous Tech Bubble ft. Moritz Seibert

SI102: TESLA and the famous Tech Bubble ft. Moritz Seibert

This week, we discuss Tesla’s meteoric stock price rise and its likely inclusion into the S&P 500, similarities between today’s parabolic moves in the stock market and the famous tech bubble, why the current outlook for markets necessitates a place for investing in Trend Following strategies, Germany’s move to tax investors on their gold ETF holdings, Volatility-focused trading strategies, and the differences in making adjustments to short term systems vs long term systems. Quest

Aug 23, 2020 • 53:43

GM08: Watch out for The Bond Market Vigilantes ft. Jim Bianco

GM08: Watch out for The Bond Market Vigilantes ft. Jim Bianco

In today’s episode we are joined by Jim Bianco, the president and macro strategist at Bianco Research, L.L.C. Since 1990 Jim’s commentaries have offered a unique perspective on the global economy and financial markets. Unencumbered by the biases of traditional Wall Street research, Jim has built a decades long reputation for objective, incisive commentary that challenges consensus thinking. In nearly 20 years at Bianco Research, Jim’s wide ranging commentaries have addressed monetary

Aug 21, 2020 • 1:06:14

GM07: The father of the Yield-Curve indicator ft. Campbell Harvey

GM07: The father of the Yield-Curve indicator ft. Campbell Harvey

In today’s episode we are joined by Campbell Harvey, Professor of Finance at Duke University and Research Associate at the National Bureau of Economic Research in Cambridge, Massachusetts. Cam served as Editor of The Journal of Finance from 2006 to 2012 and as the 2016 President of the American Finance Association. He holds a Ph.D. in Finance from the University of Chicago.Although Cam is well-known as being the inventor of the Yield-Curve Indicator, with an eight for eight track record in

Aug 19, 2020 • 1:09:01

SI101: Howard Mark’s comments on managing risk and market cycles ft. Moritz Seibert

SI101: Howard Mark’s comments on managing risk and market cycles ft. Moritz Seibert

In this episode, we discuss the danger of financial products such as the Daily 3x Inverse Natural Gas ETN, the potential end of the 2020 bull market in stocks, Howard Mark’s recent quotes on managing risk & market cycles, how a Trend Following mentality can have a positive affect on your world-view, patience for your system vs patience for an individual position, and why needing to ‘agree’ with your trades can be a dangerous idea. Questions we answer this week include: How do you avoid

Aug 17, 2020 • 59:45

SI100: How to filter your trades and staying unemotional ft. Jerry Parker

SI100: How to filter your trades and staying unemotional ft. Jerry Parker

In this special anniversary edition of the Systematic Investor podcast, Jerry Parker joins us on the show to discuss why removing as many filters as possible may be beneficial to your trading system, why we could actually be living in the most ‘certain’ times in history, the importance of laser-like focus and unemotional trading during the best & worst periods, Jerry’s incredible story of despair to eventual victory as a Trading Turtle under Richard Dennis, the fallacy of aiming for the ‘per

Aug 9, 2020 • 1:06:10

GM06: The hidden danger of Passive Investing ft. Michael Green

GM06: The hidden danger of Passive Investing ft. Michael Green

In today’s episode, we are joined by Michael Green. Michael has over 20 years as a portfolio manager, mainly in the global macro space. Recently he has become well known because of his work on the shift to passive investing, and inevitably this was one of the topics we wanted to ask Mike about. Our conversation wasn’t limited to that however, and we also discussed comparisons between the present day and previous historical crisis (going back to the Roman Empire!), as well as many other interesti

Aug 4, 2020 • 1:01:21

SI99: Trend Following on ETFs and how to safely invest more aggressively in stocks ft. Moritz Seibert

SI99: Trend Following on ETFs and how to safely invest more aggressively in stocks ft. Moritz Seibert

In today’s show, we discuss why a great defence is necessary for great portfolios, Trend Following on ETFs, why liquidity is often an under-appreciated factor when choosing markets, why you need to include shorts, tips for testing system code, why futures are better for short positions than stocks, and why investing in alternative strategies can allow you to be more aggressive when chasing stock market returns. We also answer some of your questions, including: What is your chosen measure o

Aug 3, 2020 • 53:50

GM05: FEDs reaction to the Global Pandemic ft. Danielle DiMartino Booth

GM05: FEDs reaction to the Global Pandemic ft. Danielle DiMartino Booth

Our guest today is Danielle DiMartino Booth, CEO and chief strategist for Quill intelligence. One of the major themes of our podcast series so far has been the reactions of central banks to the global pandemic, and it’s likely effects on inflation and asset prices. As a former Fed insider, with nine years of experience as an advisor to the president of the Dallas Fed, Danielle is uniquely positioned to give us her take on the action taken by central banks so far, and what their next move is like

Jul 28, 2020 • 1:01:27

SI98: The secret to John. W. Henry's (owner of Liverpool FC and Boston Red Sox) success ft. Mark Rzepczynski

SI98: The secret to John. W. Henry's (owner of Liverpool FC and Boston Red Sox) success ft. Mark Rzepczynski

Today, we’re delighted to welcome Mark Rzepczynski onto the show to discuss his time working with John W. Henry and what J. W. Henry’s ‘secret weapon’ was, the most effective way to gain downside protection, how to overcome behavioural biases in investing, how diversification can reduce profitability during huge trends, how to effectively make the case for Trend Following to potential investors, where returns dispersion among CTAs is stemming from, and one of our favourite topics: how many marke

Jul 26, 2020 • 1:23:57

GM04: Global Macro from a High Level ft. Larry McDonald

GM04: Global Macro from a High Level ft. Larry McDonald

Today we are very lucky to welcome Larry McDonald as our guest. Larry is the founder of the Bear Traps report, and has extensive experience in consulting and investment banking. His bestselling book “A colossal failure of common sense”, described his time as a Vice President at Lehman brothers where Larry had a ringside view of the last financial crisis. Needless to say this gives him an interesting perspective on the current state of the global markets. Our very enjoyable conversation

Jul 24, 2020 • 1:00:36

GM03: The Dollar losing its Reserve Currency Status ft. Erik Townsend

GM03: The Dollar losing its Reserve Currency Status ft. Erik Townsend

Todays’ guest is Erik Townsend, host of the Macro voices podcast. Erik has an unusual background, as he had a very successful career as a technology entrepreneur before turning his hand to commodity trading. His background gives him a different perspective to many in the financial world, as we discovered in our conversation. Our discussion explored the possible consequences of the action taken by central banks in the last and current crisis; including rampant inflation, social unrest, and t

Jul 22, 2020 • 1:04:11

SI97: Warren Buffett’s recent ‘value’ purchase ft. Robert Carver

SI97: Warren Buffett’s recent ‘value’ purchase ft. Robert Carver

Today, Robert Carver joins us to discuss JP Morgan’s comments on markets being fabricated by central bank liquidity, Tesla’s incredible swings in market cap, thoughts on Warren Buffett’s recent ‘value’ purchase, the point at which diversification in a portfolio becomes dilution, and the benefits of diversifying among different Trend Following managers.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow N

Jul 21, 2020 • 38:42

GM02: The failure of the Dollar ft. Preston Pysh

GM02: The failure of the Dollar ft. Preston Pysh

Our guest for today’s episode is Preston Pysh, founder of BuffetsBooks.com and co-host at The Investors Podcast network. As a graduate of both West Point and John Hopkins, Preston is certainly the only person we have interviewed who has both an MBA but can also fly a helicopter. Mostly in the interview we were talking about economics rather than military strategy, but the topic of a US/China war did come up briefly. Preston has spent a lot of time thinking about value investing, and some of the

Jul 17, 2020 • 1:04:07

GM01: The COVID-19 Fallout ft. Julian Brigden

GM01: The COVID-19 Fallout ft. Julian Brigden

Our guest in todays episode is Julian Brigden, co-founder of MI2 partners. Julian has decades experience in investment banking on both sides of the Atlantic, and is a true original thinker. We had a highly enjoyable conversation with Julian, who has a unique knack of explaining his frequently controversial views in a thoroughly entertaining fashion. He has a wide knowledge of topics as varied as silver and shale oil, and his historical references ranged from the 2008 crash all the way back to th

Jul 14, 2020 • 1:06:27

SI96: How RobinHood really makes its profits ft. Moritz Seibert

SI96: How RobinHood really makes its profits ft. Moritz Seibert

On today’s episode, we discuss the clear link between stock market prices & the Federal Reserve balance sheet, the widening gap between the best & worst CTA performances, the influx of retail money into the stock market, how RobinHood makes its profits despite offering free trading, bond prices and what they may be telling us about the future, how CTAs might now be swinging back to the long side, and how lofty expectations are driving many stock prices unexpectedly higher.-----EXCEPTIONA

Jul 13, 2020 • 47:25

BO117: Judging A “Book” By Its Cover

BO117: Judging A “Book” By Its Cover

How investors are easily swayed by misleading titles... costing them dearly.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Fol

Jul 10, 2020 • 7:46

BO116: Are US Treasuries Still Safe?

BO116: Are US Treasuries Still Safe?

Are US Treasuries as safe as many investor think?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” h

Jul 9, 2020 • 12:27

BO115: Trend or Value Investing...why not Both?

BO115: Trend or Value Investing...why not Both?

Meb Faber explains how to combine Trend Following with Buy & Hold.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following

Jul 8, 2020 • 7:19

BO114: Why Too few Invest with CTAs

BO114: Why Too few Invest with CTAs

Meb Faber on why investors are underinvested in Trend Following.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Yo

Jul 8, 2020 • 6:29

BO113: Asset Allocation Using Correlations

BO113: Asset Allocation Using Correlations

How to allocate a portfolio, accounting for market correlations?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Yo

Jul 6, 2020 • 4:45

SI95: Jim Simon’s quotes on overriding your system and how to size your positions ft. Moritz Seibert

SI95: Jim Simon’s quotes on overriding your system and how to size your positions ft. Moritz Seibert

This week, we give our thoughts on the inaccuracies of CTA replicator models, static risk versus dynamic risk, ways to approach variable position sizing, the power of a system being ‘good enough’, Jim Simon’s quotes on overriding your systems, and the recent accusation that CTAs are driving the stock market upward. Questions answered this week include: What elements of my trading system should I look to expand, if it’s going well? Can I diversify using stock sectors only? What

Jul 6, 2020 • 50:09

BO112: Combining Fundamental & Systematic Investing. Does it work?

BO112: Combining Fundamental & Systematic Investing. Does it work?

Combining fundamental macro with price data. Does it work?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Por

Jul 3, 2020 • 10:43

BO111: Educating Financial Advisors About Systematic Investing

BO111: Educating Financial Advisors About Systematic Investing

How to educate financial advisors about Trend Following strategies.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to

Jul 2, 2020 • 9:27

BO110: Change vs Inconsistency

BO110: Change vs Inconsistency

The differences between changes leading to improvement & changes leading to inconsistency.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reason

Jul 1, 2020 • 5:00

BO109: Leverage & Volatility

BO109: Leverage & Volatility

What level of Leverage should you use?-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer

Jun 30, 2020 • 3:20

BO108: The Case For Being Longer-Term & Systematic

BO108: The Case For Being Longer-Term & Systematic

Jim O’Shaughnessy’s paper from 1987 confirms our thesis.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portf

Jun 29, 2020 • 7:32

SI94: Markets to avoid in Systematic Investing and David Harding interview ft. Moritz Seibert

SI94: Markets to avoid in Systematic Investing and David Harding interview ft. Moritz Seibert

In today’s episode, we discuss David Harding’s interview from 2013 with the SEC Historical Society, possible mistakes to avoid in Systematic Investing, if there are any differences between market confidence and the strength of a Trend, thoughts on Excel vs Python, and the importance of preserving capital during bad periods. We also answer your questions, including: Does the rise of Volatility trading have any effect on the effectiveness of Trend Following strategies? How is trend str

Jun 29, 2020 • 43:48

BO107: Roughly Right or Precisely Wrong

BO107: Roughly Right or Precisely Wrong

Why Trend Following strategies aren’t perfect.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Ba

Jun 27, 2020 • 3:24

BO106: The Perfect Portfolio

BO106: The Perfect Portfolio

What would the ‘perfect portfolio’ look like?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.

Jun 25, 2020 • 9:10

BO105: How to Trade Fixed Income

BO105: How to Trade Fixed Income

How & where to trade Interest Rates.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn

Jun 24, 2020 • 6:33

BO104: What (really) Defines A Trend Following Trader?

BO104: What (really) Defines A Trend Following Trader?

What defines a Trend Following trader?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn m

Jun 23, 2020 • 7:50

SI93: Howard Mark’s latest memo, TESLA and Wirecard ft. Moritz Seibert

SI93: Howard Mark’s latest memo, TESLA and Wirecard ft. Moritz Seibert

This week, we discuss the possible effects of recent bans on short selling, Howard Mark’s latest memo on the recent rally in asset prices, the Wirecard debacle of losing $1.9billion, Tesla’s ascension to having the largest market cap of all car manufacturers in the world, the benefits of Trend Following in a diversified portfolio, the power of non-correlated strategies combined, and the secret sauce of Trend Following. Questions we answer include: How do Central Bank policies affect Trend

Jun 22, 2020 • 55:42

BO103: Trend Following Explained in Less Than 15 Words

BO103: Trend Following Explained in Less Than 15 Words

Why the term ‘Managed Futures’ may be misleading for some.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Por

Jun 22, 2020 • 2:09

BO102: Treating Markets Differently...True or False?

BO102: Treating Markets Differently...True or False?

Should you treat some markets differently?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Lea

Jun 19, 2020 • 9:44

BO101: Ignoring Short-Term Performance...even if it's Hard to do

BO101: Ignoring Short-Term Performance...even if it's Hard to do

How much does luck play a part in short-term results?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfoli

Jun 17, 2020 • 3:20

BO100: Embracing Both Longs & Shorts

BO100: Embracing Both Longs & Shorts

Why aiming for a balance of longs & shorts in your portfolio may be beneficial.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Tr

Jun 17, 2020 • 1:38

BO99: Which Month of Futures Contracts should You Trade?

BO99: Which Month of Futures Contracts should You Trade?

Which month of futures contracts should you trade?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio”

Jun 16, 2020 • 3:02

BO98: The Cutoff Point For Equity Drawdowns...When Enough is Enough

BO98: The Cutoff Point For Equity Drawdowns...When Enough is Enough

At what point does a drawdown become too much, before action has to be taken?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Fo

Jun 15, 2020 • 3:59

SI92: How to add robustness to your trading and choosing the right time horizon ft. Robert Carver

SI92: How to add robustness to your trading and choosing the right time horizon ft. Robert Carver

Robert Carver joins us back on the show to discuss why simulating ‘noisy’ data in your backtest can add to robustness, how similar strategies can still result in widely varying returns, how to choose the right look-back period, trading continuous vs binary systems, and how much automation should be used when running a system.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn,

Jun 15, 2020 • 1:09:31

BO97: The Most Influential Look-back Period and How to Find it

BO97: The Most Influential Look-back Period and How to Find it

Which timeframe holds the most influence on markets?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio

Jun 12, 2020 • 4:58

BO96: Correlations Among Sectors & Asset Classes

BO96: Correlations Among Sectors & Asset Classes

Dealing with correlations on different asset classes.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfoli

Jun 10, 2020 • 10:35

BO95: Fully Systematic or Manual Overrides?

BO95: Fully Systematic or Manual Overrides?

Discussion on Bill Eckhardt’s comments on adding discretion to Systematic Trading.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Tre

Jun 9, 2020 • 14:48

BO94: Dollar Cost Averaging Strategies..do the (really) work?

BO94: Dollar Cost Averaging Strategies..do the (really) work?

Do losers really average losers?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more ab

Jun 8, 2020 • 1:04

SI91: Disconnect between stock market prices and their expected returns ft. Moritz Seibert

SI91: Disconnect between stock market prices and their expected returns ft. Moritz Seibert

Today we discuss the disconnect between stock market prices & their expected returns based on economic data, why current p&l may not reflect the quality of your positions, and the potential role of central banks in the future. Questions we answer include: How do you reduce futures rollover costs? How often should a Trend Follower look at their portfolio?Documentaries mentioned: The Fourth Turning Explained and Prince of the Yen-----EXCEPTIONAL RESOURCE: Find Out How to

Jun 7, 2020 • 43:37

BO93: Increasingly Short-Term Expectations

BO93: Increasingly Short-Term Expectations

Can you really be hedged from 2-3pm?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn mor

Jun 5, 2020 • 2:41

BO92: Volatility: The New Player In Town

BO92: Volatility: The New Player In Town

Chris Cole on Volatility… from a statistic to a tradable asset.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to You

Jun 4, 2020 • 14:55

BO91: Is Trend Following Too Crowded?

BO91: Is Trend Following Too Crowded?

Is Trend Following becoming too crowded?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn

Jun 3, 2020 • 8:47

BO90: Can AI Trading Models Really Work?

BO90: Can AI Trading Models Really Work?

Thoughts on AI trading systems, and how they handled the crash of 2020.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Followin

Jun 2, 2020 • 5:21

BO89: How To Approach Risk Management

BO89: How To Approach Risk Management

A dive into Volatility Scaling as part of your Risk Management framework.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Follow

Jun 1, 2020 • 7:42

SI90: How to make 3000% in a month and why CTAs are the perfect portfolio ft. Jerry Parker

SI90: How to make 3000% in a month and why CTAs are the perfect portfolio ft. Jerry Parker

Jerry Parker rejoins us today to discuss how single stocks behave differently to indexes, knowing when to ignore your backtests, multi-strategy CTAs vs trend following CTAs, how to make 3000% in a month, why CTAs should be considered the ‘perfect portfolio’ rather than ‘crisis alpha’, and how luck plays a part in past returns. Questions we answer include: What is the shortest timeframe you look at? What positions are you mainly in at the moment?-----EXCEPTIONAL RESOURCE: Find Out How

Jun 1, 2020 • 1:21:38

BO88: When To Modify Your System...the $64,000 Question

BO88: When To Modify Your System...the $64,000 Question

How to know when you should modify your system or take discretionary decisions.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend

May 28, 2020 • 5:01

BO87: Incorporating Correlations Into Your Strategy

BO87: Incorporating Correlations Into Your Strategy

How should you think about market correlations when designing your investment strategy.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Ad

May 27, 2020 • 6:17

BO86: Should You Trade All Markets the Same Way?

BO86: Should You Trade All Markets the Same Way?

An explanation of why you may trade some markets differently, rather than treat all signals the same.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten

May 26, 2020 • 12:01

BO85: Investments that (really) Work During Market Turmoil

BO85: Investments that (really) Work During Market Turmoil

A look into strategies that worked during the recent market turmoil.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following t

May 25, 2020 • 4:54

SI89: Trend Following EFTs and Asness vs Taleb ft. Rufus Rankin

SI89: Trend Following EFTs and Asness vs Taleb ft. Rufus Rankin

We’re joined by special guest, Rufus Rankin of Ampersand Investment Management, to discuss Trend Following ETFs, the definition of a truly diversified portfolio, flat-fees versus performance-based fees, how to choose between different managers, learning from Q1 2020, predicting CTA returns, and the recent public spat between Cliff Asness & Nassim Taleb. Questions we answer include: Are Trend Following CTAs seeing an increase in client interest after this year’s stock market crash? What

May 24, 2020 • 58:25

BO84: How Many Markets Are Too Many?

BO84: How Many Markets Are Too Many?

Is there an optimal number of markets to trade? We give you our views.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following

May 22, 2020 • 12:12

BO83: What Does Diversification Really Mean?

BO83: What Does Diversification Really Mean?

Rob Carver describes diversification, portfolio construction, & correlations.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Tren

May 21, 2020 • 9:01

BO82: Trend Following & the 2020 COVID Crash

BO82: Trend Following & the 2020 COVID Crash

Trend Following during a Time of Crisis.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn

May 20, 2020 • 11:11

BO81: Trend Following Terms Explained

BO81: Trend Following Terms Explained

Convexity, Crisis Alpha, Smart Beta, and Implied Volatility…what does it all mean?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Tre

May 19, 2020 • 4:32

BO80: How Big Is the Trend Following Space...Really?

BO80: How Big Is the Trend Following Space...Really?

How much AUM is really in Trend Following & who are the players?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following t

May 18, 2020 • 4:00

SI88: The Holy Grail for eliminating risk completely ft. Robert Carver

SI88: The Holy Grail for eliminating risk completely ft. Robert Carver

Robert Carver joins us to discuss the huge outperformance year-to-date of systematic funds vs discretionary funds, negative prices & their effects on market participants, systematising volatility strategies, whether there is a Holy Grail for eliminating risk completely, Newfound Research’s article on Options Straddles & Trend Following, and where we currently see the strongest trends in our portfolios.Article mentioned: Straddles & Trend Following by Newfound Research-----EXCEPTIONAL

May 17, 2020 • 1:11:33

BO79: When The Evidence Isn’t Enough

BO79: When The Evidence Isn’t Enough

CTAs have found (the hard way) that conveying the facts may not be as enticing as telling a good story.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Follow

May 15, 2020 • 3:50

BO78: Reminiscences of a Stock Operator & Markets Today vs the 1920s

BO78: Reminiscences of a Stock Operator & Markets Today vs the 1920s

The eery accuracy of the infamous 1920s book, which still holds true today. Maybe markets really haven’t changed that much?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free

May 14, 2020 • 9:55

BO77: Expected Returns & Unexpected Drawdowns

BO77: Expected Returns & Unexpected Drawdowns

Why CTA & S&P500 returns are often wrongly compared.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your P

May 13, 2020 • 4:15

BO76: The Biggest Behavioural Bias

BO76: The Biggest Behavioural Bias

Today we discuss the "mother of all biases".-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.L

May 12, 2020 • 1:17

BO75: Volatility vs Risk and why Investors keeps getting this mixed up!

BO75: Volatility vs Risk and why Investors keeps getting this mixed up!

Why Volatility differs from Risk, and how it may even be considered your friend.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend

May 11, 2020 • 2:50

SI87: Dealing with stress when you bring down a bank ft. Nick Leeson

SI87: Dealing with stress when you bring down a bank ft. Nick Leeson

We’re joined today by special guest Nick Leeson, who is famous for the collapse of Barings Bank, one the oldest banks in the world at the time, to discuss liquidity risk in the markets, dealing with stress in extraordinary situations, the benefits of asking yourself the difficult questions, problems when interpreting vast amounts of data, what Nick looks for when investing today, the importance of communicating your feelings, and lots more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer

May 10, 2020 • 1:27:09

BO74: Patience & Persistence

BO74: Patience & Persistence

Why having patience and keeping yourself in the right environment is vital to good investing.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons

May 8, 2020 • 3:19

BO73: Four C’s of Good Investing: Conviction

BO73: Four C’s of Good Investing: Conviction

Having conviction is about having a justified belief in your strategy.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.L

May 7, 2020 • 2:28

BO72: Four C’s of Good Investing: Courageousness

BO72: Four C’s of Good Investing: Courageousness

Being a good rules-based Investor can be a lonely road, and takes courage to follow.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add T

May 6, 2020 • 2:10

BO71: Four C’s of Good Investing: Clarity

BO71: Four C’s of Good Investing: Clarity

How to get Clarity and remove the noise of the markets.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.Learn more about

May 5, 2020 • 5:04

BO70: Four C’s of Good Investing: Consistency

BO70: Four C’s of Good Investing: Consistency

How a few simple rules were 97% more accurate than predictions from a variety of experts, in fields like stock picking.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of m

May 4, 2020 • 4:11

SI86: Berkshire Hathaway shareholders meeting ft. Moritz Seibert

SI86: Berkshire Hathaway shareholders meeting ft. Moritz Seibert

Today, we discuss comments from Warren Buffett in the recent Berkshire Hathaway shareholders meeting, AQR Capital’s recent research finding pure Trend Following strategies to be a better hedge in bear markets than Options strategies, the oil market & the USO ETF, how commodities are great diversifiers which often outperform equities, how to think about market inefficiencies, and why it’s never too late to invest into Trend Following.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer &a

May 3, 2020 • 59:26

BO69: Process over Outcome

BO69: Process over Outcome

Why a winning or losing bet may not mean that it was a good or bad decision.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Fol

May 1, 2020 • 2:25

BO68: The Simple Secret to Overcome Emotions when Investing

BO68: The Simple Secret to Overcome Emotions when Investing

How a tried & tested strategy can offset the emotional risk when Investing.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” h

Apr 30, 2020 • 4:02

BO67: Why Investors are Naturally Risk Averse

BO67: Why Investors are Naturally Risk Averse

Daniel Crosby explains how our bodies shut our brains down & how this causes bad Investing behaviour.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book

Apr 29, 2020 • 3:22

BO66: Why Investors (always) Fall for a Good Story

BO66: Why Investors (always) Fall for a Good Story

Why we desire a good story & the effect this has on our investments.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Followi

Apr 28, 2020 • 6:18

BO65: The 4 Biases of Bad Investing Behaviour

BO65: The 4 Biases of Bad Investing Behaviour

Daniel Crosby on Ego, Overconfidence, Emotion & Attention biases.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn

Apr 27, 2020 • 2:58

SI85: Similarities between the market crashes of 1987 and 2020 ft. Nick Radge

SI85: Similarities between the market crashes of 1987 and 2020 ft. Nick Radge

Today, special guest Nick Radge joins us on the show to discuss similarities between the market crashes of 1987 and 2020, the players behind the recent Oil volatility, the importance of avoiding trading paralysis, how to behave like a successful investor, developing different strategies for different market environments, how Nick fell in love with Trend Following from an early age, and more. Questions we answer include: How do you incorporate risk management into your strategies? Wha

Apr 25, 2020 • 1:35:37

BO64: The Most CounterIntuitive Human Behaviour in Investing

BO64: The Most CounterIntuitive Human Behaviour in Investing

Why working harder doesn’t necessarily mean we’ll achieve better results.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Follow

Apr 24, 2020 • 2:24

BO63: The Behavioural Gap

BO63: The Behavioural Gap

Why the rules of good Investing are often a 180 degrees opposite to Human nature.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Tren

Apr 23, 2020 • 7:09

BO62: How Simple Rules Cure Sick Portfolios

BO62: How Simple Rules Cure Sick Portfolios

How simple rules eradicated an incurable disease in Africa, and how this can be related to good Investing behaviour.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my l

Apr 22, 2020 • 3:16

BO61: Overrated Knowledge & the Neglect of Behavioural Finance

BO61: Overrated Knowledge & the Neglect of Behavioural Finance

Daniel Crosby describes how knowledge can sometimes do very little to change Human behaviour, and so may not be as important as people think.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you ca

Apr 21, 2020 • 2:36

BO60: Improving a Broken Model...can it be done?

BO60: Improving a Broken Model...can it be done?

Listener question on how to improve a strategy that seems to be broken. Should you take an overall approach, or discard any particular markets that haven’t trended for a while?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Inve

Apr 20, 2020 • 11:55

SI84: Is pyramiding a bad strategy? and how many markets to trade? ft. Robert Carver

SI84: Is pyramiding a bad strategy? and how many markets to trade? ft. Robert Carver

We’re joined today by Robert Carver to discuss why classical Trend Following strategies did well in the recent selloff, the risks in OTC trading, why it’s important to diversify across different managers, the varying recent returns of Renaissance Technologies and AHL, and how Robert Carver approaches volatility, scaling & portfolio construction during a crisis. Questions answered this week include: Are 20 markets enough for a diversified portfolio? Is pyramiding a bad strategy? Should I prio

Apr 19, 2020 • 1:13:23

BO59: Howard Marks & the Definition of Buying Low

BO59: Howard Marks & the Definition of Buying Low

Howard Mark’s recent thoughts on the importance of ‘buying low’, and what really constitutes ‘buying low’.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book

Apr 17, 2020 • 6:32

BO58: The Balance between Innovation, Evolution and Stickability

BO58: The Balance between Innovation, Evolution and Stickability

Why clients would benefit from lock-up periods, and the difference between evolving your strategies or sticking with it.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to

Apr 16, 2020 • 5:12

BO57: A.I. Strategies With Human Biases

BO57: A.I. Strategies With Human Biases

Are A.I. programmers unknowingly passing their human biases into the algorithms?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend

Apr 15, 2020 • 6:21

BO56: Sticking with Your System through the Good & the Bad Times

BO56: Sticking with Your System through the Good & the Bad Times

The benefits of sticking with your system through good & bad times, even in the face of client pressure. Also why Investors benefit from not looking at their portfolios too frequently.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Inv

Apr 14, 2020 • 10:09

SI83: Responsible Investing and how to cope with extreme volatility ft. Moritz Seibert

SI83: Responsible Investing and how to cope with extreme volatility ft. Moritz Seibert

In this episode, we discuss how Trend Following strategies are able to cope with the extra volatility around huge world events, Transtrend’s recent article on responsible investing and why that includes the ability to short a market, the current oil situation, and recent interview appearances by Ray Dalio and Danielle DiMartino Booth. Questions answered this week include: Can Trend Following do well in a hyper inflationary environment? Have you discovered anything new from the 2020 C

Apr 13, 2020 • 57:03

BO55: What Does It Take To Be A Successful Trader?

BO55: What Does It Take To Be A Successful Trader?

Bill Dreiss shares his opinion on what it takes to be a successful Trader.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Follo

Apr 10, 2020 • 2:41

BO54: Embracing Volatility

BO54: Embracing Volatility

Bill Dreiss discusses embracing the uncontrollable nature of Volatility, and explains some of the dangers of what he calls ‘warehousing risk.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you ca

Apr 9, 2020 • 9:25

BO53: Trend Trading vs Mean Reverting – What Should You Trade?

BO53: Trend Trading vs Mean Reverting – What Should You Trade?

Discussion on some of the reasons why Trend Following works, but why paradoxically, investors are lured toward mean-reversion.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free co

Apr 8, 2020 • 2:43

BO52: Thoughts on Risk Management and Leverage

BO52: Thoughts on Risk Management and Leverage

Bill Dreiss shares some of his thoughts on Risk Management and Leverage.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Followi

Apr 7, 2020 • 3:19

BO51: Insights to a Unique System Design

BO51: Insights to a Unique System Design

Bill Dreiss takes us under the hood of his system, and explains why it’s so unique.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Tr

Apr 6, 2020 • 4:19

SI82: Is Machine Learning and AI just a marketing ploy? ft. Harold de Boer

SI82: Is Machine Learning and AI just a marketing ploy? ft. Harold de Boer

Special guest, Harold de Boer of Transtrend, joins us on the show today to discuss why the recent returns disparity among CTAs might be good for the industry, the benefits of investing in more than one Trend Following fund, if the term ‘machine learning’ should be considered as a marketing ploy, what makes a strategy robust, why unsupervised ‘black box’ strategies may be riskier than more traditional strategies, how much the markets have changed over time, some thoughts on volatility targeting,

Apr 5, 2020 • 1:27:39

BO50: Why Trend Following (Still) Works

BO50: Why Trend Following (Still) Works

We explain why Trend Following will continue to perform over time.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to

Apr 3, 2020 • 3:51

BO49: Do markets drive Performance or is it Skill?

BO49: Do markets drive Performance or is it Skill?

How markets drive performance more so than skill, and why you need to trade longer-term.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to A

Apr 2, 2020 • 4:39

BO48: Exploiting the Fractal Nature of Markets in a Systematic Way

BO48: Exploiting the Fractal Nature of Markets in a Systematic Way

Bill Dreiss talks about his interest in Elliot Wave analysis & the Fractal nature of markets, and how he successfully have used this approach since the 1970s.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written

Apr 1, 2020 • 8:24

BO47: Our Worst Trade

BO47: Our Worst Trade

We go down memory lane and discuss our worst trades, and what we learned from them.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Tr

Mar 31, 2020 • 7:01

BO46: When should You stay Out of a Market?

BO46: When should You stay Out of a Market?

We discuss when a Trend Follower would be neither Long nor Short.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Y

Mar 30, 2020 • 2:07

SI81: Why simple ideas can often be more robust than complex ideas ft. Moritz Seibert

SI81: Why simple ideas can often be more robust than complex ideas ft. Moritz Seibert

Today, we discuss the benefits of focusing on highly liquid markets, why Trend Following strategies are usually less risky & volatile in any market environment, how simple ideas can often be more robust than complex ideas, whether there’s a place for discretion in trading systems, why a manager’s true aims may not be what you were are expecting, and how emotional intelligence disappears during times of stress. Questions we answer include: Should I have fewer positions, and risk m

Mar 28, 2020 • 1:16:35

BO45: Should You Adjust Your Position Size During A Trade?

BO45: Should You Adjust Your Position Size During A Trade?

Is increasing or reducing an existing position during a trade, something you should do?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Ad

Mar 27, 2020 • 3:55

BO44: How much should I Allocate to Trend Following?

BO44: How much should I Allocate to Trend Following?

What is the perfect allocation percentage to Trend Following, and other assets, in a diversified portfolio?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest boo

Mar 26, 2020 • 6:01

BO43: Are CTAs Causing Market Sell-Offs?

BO43: Are CTAs Causing Market Sell-Offs?

JP Morgan blames CTA strategies for causing large market selloffs. We give our view!-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add T

Mar 25, 2020 • 12:36

BO42: The value of Big Data & AI will be Tested during the Coronavirus Turmoil

BO42: The value of Big Data & AI will be Tested during the Coronavirus Turmoil

Can you really figure out the markets by using ‘Big Data’ and ‘AI’?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to

Mar 24, 2020 • 7:54

BO41: How to Deal with Clients During Drawdowns

BO41: How to Deal with Clients During Drawdowns

How you deal with clients during drawdowns and how you manage expectations can make or break your business?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest boo

Mar 23, 2020 • 3:23

SI80: Why uncomfortable trades can turn out to be the most profitable ft. Eric Crittenden

SI80: Why uncomfortable trades can turn out to be the most profitable ft. Eric Crittenden

This week, special guest Eric Crittenden joins us on the show to discuss: the importance of being able to trade short positions, how the best Trend Following strategies have proven their worth in this current environment, why Trend Following can be regarded as a Contrarian Strategy, whether or not ETFs are safe investments, when being 1st place can be as detrimental as coming last, why the most uncomfortable trades can turn out to be the most profitable, why you can’t time entries into a Trend F

Mar 23, 2020 • 1:35:18

BO40: Does Jerry Parker Trade Synthetic Instruments?

BO40: Does Jerry Parker Trade Synthetic Instruments?

Discussion on whether or not to trade Synthetic Instruments.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your P

Mar 20, 2020 • 3:10

BO39: Can Market Timing using Technical Indicators be Profitable?

BO39: Can Market Timing using Technical Indicators be Profitable?

Discussion a recent Barron’s article which says that the 200-Day Moving Average no longer works – perhaps Barron’s have changed their mind after March 2020?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written

Mar 19, 2020 • 6:01

BO38: Systematic vs Discretionary Investing

BO38: Systematic vs Discretionary Investing

We discuss The Curious Investor podcast episode on Systematic vs Discretionary Investing.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Po

Mar 18, 2020 • 7:41

BO37: Does Trend Following still work? Comments from David Harding, Cliff Asness & Stanley Druckenmiller

BO37: Does Trend Following still work? Comments from David Harding, Cliff Asness & Stanley Druckenmiller

“Experts” claim that the character of the markets has changed in recent years. We discuss comments from David Harding, Stanley Druckenmiller & Cliff Asness, relating to Trend Following.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best In

Mar 17, 2020 • 12:01

BO36: The Time It Takes To Stick With Your Rules

BO36: The Time It Takes To Stick With Your Rules

Today we discuss a listener question, regarding the usual time it takes before being able to follow a Trading System religiously.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free

Mar 16, 2020 • 7:12

SI79: A historical volatile week put into perspective ft. Robert Carver

SI79: A historical volatile week put into perspective ft. Robert Carver

We’re joined on the show today by special guest Robert Carver, to discuss another historically volatile week in the markets, the differences between today’s bear market and 2008, how Robert defines portfolio diversification, how many markets a profitable Trend Following system should trade, the different types of strategies that Robert currently uses, the amount of truly uncorrelated assets available, and volatility scaling as a part of risk management. Questions answered this week include

Mar 15, 2020 • 1:41:36

BO35: A Month in the Life of a CTA

BO35: A Month in the Life of a CTA

Today we discuss a question from the audience about what goes on in the life of a CTA.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add

Mar 12, 2020 • 4:30

BO34: More Fiction in Excel than in Word

BO34: More Fiction in Excel than in Word

The likeliness to curve fit data from backtests, and get excited about numbers which may not materialise.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book

Mar 12, 2020 • 3:54

BO33: Howard Marks & Limiting Downside Potential

BO33: Howard Marks & Limiting Downside Potential

When Howard Marks speaks, we should all pay attention. And today’s topic about focusing on the Risk rather than the Upside in your portfolio…is just up our street!-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever writte

Mar 11, 2020 • 7:24

BO32: Trend Following: The Perfect Hedge, or the Perfect Portfolio?

BO32: Trend Following: The Perfect Hedge, or the Perfect Portfolio?

We discuss why we believe that Trend Following could rightly be viewed as the Perfect Portfolio, and sometimes the Perfect Hedge.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free

Mar 10, 2020 • 10:12

BO31: Equity Indices – Who Wants To Be Average?

BO31: Equity Indices – Who Wants To Be Average?

Why do equity investors aim to be average? And how to aim for more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to

Mar 8, 2020 • 4:53

SI78: Tom Basso’s research on higher Trend Following returns as volatility increases

SI78: Tom Basso’s research on higher Trend Following returns as volatility increases

This week, we discuss the potential benefits of investing in more than one systematic fund, Tom Basso’s research finding that Trend Following returns increase as market volatility increases, the process behind Moritz’s discretionary trade last week, sizing positions according to volatility, the historic rally in government bonds, and the importance of good risk management. Questions we answer include: What software do you use to manage and monitor your portfolios? How much importance do yo

Mar 8, 2020 • 1:15:38

BO30: Historical Data, Backtests, & Track Records

BO30: Historical Data, Backtests, & Track Records

What is the optimal time frame when analysing a track record & why can seemingly correlated strategies have very different returns?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get

Mar 6, 2020 • 4:53

BO29: Trend Following vs Buy & Hold

BO29: Trend Following vs Buy & Hold

Want to know what the real benefit of Trend Following is, compared to the traditional Buy & Hold method? Find out in today’s episode…there may be more benefits than meets the eye at first glance.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to t

Mar 5, 2020 • 6:19

BO28: Long Trades Vs. Short Trades

BO28: Long Trades Vs. Short Trades

You may be surprised of the difference between how well Short and Long trades perform…but why it’s still important to trade both.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free

Mar 4, 2020 • 6:24

BO27: 2019 In Review – The Investor’s RetroSpective

BO27: 2019 In Review – The Investor’s RetroSpective

End of 2019 wrap up, with thoughts on Bonds, Bitcoin, the decade just gone by, and the connection between Netflix & Dominos Pizza.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a

Mar 3, 2020 • 12:58

SI77: Trading through the quickest 10% correction in stock market history

SI77: Trading through the quickest 10% correction in stock market history

After the quickest 10% correction straight from an all-time-high in stock market history last week, we discuss how human emotions & behaviours played their part, the threat of the coronavirus and its effect on world economies, why a week is too short a time to judge if CTAs are providing ‘crisis alpha’, and why short-term systems should have performed really well during the selloff. Questions we cover include: How do you define ‘signal strength’? Do you use stop-losses, and if so, how? Can y

Mar 1, 2020 • 1:15:15

SI76: Can trading too many markets prevent you from achieving above average returns?

SI76: Can trading too many markets prevent you from achieving above average returns?

In today’s episode, we discuss whether attempting to trade every market at the same time may hinder any conviction necessary for above-average returns, as well as debate the difference between a portfolio with plenty of trades across lots of different markets versus one with less positions among fewer markets. We also cover the Hedge Fund Journal’s recent interview with Harold De Boer of Transtrend, the amount of truly uncorrelated markets available to trade, how much discretion should be

Feb 23, 2020 • 1:01:54

SI75: Morgan Housel on history being a bad guide for the future

SI75: Morgan Housel on history being a bad guide for the future

On today’s show, we discuss Morgan Housel’s recent article on history & historians generally being a bad guide for the future, the popularity of negative predictions, social media as a gauge for current market conditions, the limits of trading indexes versus diversified individual stocks, why following price may be more important than just committing to a bullish or bearish position, and Meb Faber’s recent interview with Tim Hayes, who talked about the dangers of non-price-based indicators.-

Feb 16, 2020 • 59:47

SI74: Trading TESLA during its parabolic move

SI74: Trading TESLA during its parabolic move

This week, we discuss how Jerry approached his Tesla trade during last week’s parabolic move up, the value of sleeping well at night in comparison to chasing maximum returns, whether Trend Following models can be successfully tilted toward ESG (Sustainable) Investments, thoughts on Negative & Positive Skew, the perceived drawbacks of CTA diversification when stocks are going up, and we also compare Trend Following on stocks, to a fully diversified, Trend Following system.  Questions we answer th

Feb 8, 2020 • 1:12:48

SI73: How too much experience can work against your investments

SI73: How too much experience can work against your investments

On today’s show, we discuss when having lots of experience can sometimes work against you, why hard and fast rules can be better than making discretionary decisions, the importance of trading in appropriate position sizes, the amount of drawdown that will likely cause you to deviate from your system, the unpopularity of Trend Following strategies, creating an adaptive portfolio that can respond to market conditions, and why Trend Following should play a considerable part in your portfolio.

Feb 3, 2020 • 1:37:52

SI72: Crisis and how CTAs provide protection during stock market declines

SI72: Crisis and how CTAs provide protection during stock market declines

Today, we discuss how CTAs provide Investors with protection during stock market declines, how the term Crisis Alpha may be linked to reduced allocations to CTAs, the psychology behind managers chasing performance, worthwhile allocation percentages to Trend Following, short-term vs long-term CTA strategies, Trend Following as the perfect portfolio, and Diversification as a way to reduce risk. Questions answered this week include: What are some of the pros and cons of CFD trading, and do yo

Jan 26, 2020 • 1:18:25

SI71: The "quant winter" and the reliability of fundamental analysis

SI71: The "quant winter" and the reliability of fundamental analysis

This week, we discuss the reliability of Fundamental Analysis sell rules versus Trend Following sell rules, the so-called ‘Quant winter’ that systematic funds are supposedly in, whether there is a clear definition of Value Investing, the ability of CTAs to offer Investors exposure to less popular markets, the differences between Trend Following and Technical Analysis, and how much of past performance can be considered as a reliable indicator for the future. Questions we cover include: Do y

Jan 20, 2020 • 1:30:10

SI70: How to design and backtest your system ft. Andreas Clenow (Part 2)

SI70: How to design and backtest your system ft. Andreas Clenow (Part 2)

Today we continue our interview with Andreas Clenow, where we cover topics such as backtesting & system design, whether we see any growth in the CTA industry, long-term vs short-term Investing, and how to go about raising initial AUM. Questions include: How important are drawdowns when analysing performance? Is Crisis Alpha an appropriate label for CTAs today? How do you choose parameters for your Trading Models?-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer &

Jan 14, 2020 • 29:16

SI69: Richard Thaler on the perils of overconfidence and how to overcome it

SI69: Richard Thaler on the perils of overconfidence and how to overcome it

In this first episode of 2020, we discuss whether there any investment strategies that can work during all times, the recent Barron’s article featuring Richard Thaler on the perils of overconfidence, how Trend Following helps to prevent being too confident, the inherent negativity bias within most investors, the drawbacks of positivity when investing, and why you should consider the costs of being too cautious just as much as the costs of taking on too much risk. Questions covered th

Jan 5, 2020 • 1:16:33

SI68: The surprising relationship between volatility and risk

SI68: The surprising relationship between volatility and risk

In this week’s episode, we discuss the notion of correlation between volatility and risk, why it can be a bad idea to equate a manager’s performance with their skill-level, when a losing trade should still be considered a good trade, how much opportunity is in Low-Volatility Targeting strategies, and we also give our end-of-year reviews. Questions answered this week include: Is Trend Following another form of price prediction? Do you follow the weekly Commitments of Traders report? C

Dec 29, 2019 • 1:23:09

SI67: The psychology of predictions

SI67: The psychology of predictions

This week, we touch on the difference a year makes, how good position sizing can reduce anxiety, the recent article from AQR by Cliff Asness, why a meaningful allocation to Trend Following might be considered a must for any portfolio, the psychology of prediction, and some of the drawbacks of Trading from chart patterns. Questions we cover this week include: Would CTAs want to publish their returns to investors less frequently? Does history always ‘rhyme’? Is the Fibonacci sequ

Dec 23, 2019 • 1:06:29

SI66: Why price is a better guide to higher returns than expert opinion

SI66: Why price is a better guide to higher returns than expert opinion

In this week’s episode, find out why investing in a strategy during a drawdown can be profitable in the long-run, why risk-adjusted performance is more important than tracking against an index, why price is a better guide than expert opinion, if there is a time when you shouldn’t attempt to have uncorrelated securities in your portfolio, and the connections between Trading, statistics, & sports.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio u

Dec 15, 2019 • 58:43

SI65: How doing less can ensure bigger and better returns over time

SI65: How doing less can ensure bigger and better returns over time

This week, we discuss how doing less can ensure bigger & better results over time, average client holding periods versus the recommended amount of time, why short trades might be the essential part of a winning system, and why uniqueness is now a key requirement for today’s emerging managers. Questions we cover this week include: How far should your backtest go? Can emerging Hedge Fund managers still succeed in today’s environment? Should you adjust past data for volatility?-----

Dec 9, 2019 • 1:09:18

SI64: The difference between Warehousing vs Recognising Risk

SI64: The difference between Warehousing vs Recognising Risk

This week, we discuss the differences between recognising risk and ‘warehousing’ risk, why Fundamental Investors could benefit from implementing Trend Following rules, Diversification as the most important component of risk management, what Traders can learn from Weightlifters, and the delicate balancing act between simple, simplicity, & complexity. Questions we answer this week include: Is Systematic Investing a form of betting? How do you define a Trend? Should you scale into p

Dec 2, 2019 • 1:15:51

SI63: Are stock pickers overrated?

SI63: Are stock pickers overrated?

Is the concept of being a great stock picker overrated? Are Trend Following returns mean-reverting over time? Will Sharpe Ratios of Trend Following strategies permanently stay lower from now on? Is it becoming harder to be a successful discretionary macro trader? Should you use the same stop-loss for every position? We also give our thoughts on the process of adding a new market to your Trading Universe, ATR and how to apply it to your strategies, when a visit from the SE

Nov 24, 2019 • 1:27:23

SI62: The benefits of running a multi-strategy portfolio

SI62: The benefits of running a multi-strategy portfolio

In this week’s edition, we discuss the possible benefits of running a multi-strategy portfolio, whether or not you need to have a ‘feel’ for the markets before constructing a model, the new all-time highs on the Dow, Trend Following as a viable solution to the end of the 60/40 portfolio, and the longer-term drawbacks of chasing performance from different fund managers. Questions we cover this week include: What really went wrong with LTCM? Should Trend Followers also employ Buy &

Nov 17, 2019 • 1:16:11

SI61: Jim Simons & Renaissance Technologies

SI61: Jim Simons & Renaissance Technologies

In this week’s episode, we discuss the recently published book on Jim Simons & Renaissance Technologies, why you shouldn’t be too focused on one position, why it can be difficult to avoid overriding your system based on recent fundamentals, what investors can learn from the world’s best Poker players, and why luck should only be the result of following your edge. Plenty of questions answered this week including: Should you add to winning positions? Do you only trade Breakouts or

Nov 10, 2019 • 1:14:07

SI60: The dangers of "Home" bias and the benefits of Diversification

SI60: The dangers of "Home" bias and the benefits of Diversification

This week, we cover some of the dangers of ‘Home Bias’, and the benefits of diversification mixed with good risk management. We also discuss the differences between common Trend Trading and Systematic Trend Following, why investors tend to hold on to losing positions longer than winning positions, why people being hopeful with losses and afraid with profits may be the reason for why Trend Following works, DUNN’s Capital’s recent milestone of 45 years in the business, why Trend Following strategi

Nov 3, 2019 • 1:09:09

SI59: The dangers of investing in "stories" but why we all do it

SI59: The dangers of investing in "stories" but why we all do it

On the show today, we cover some of the dangers of investing in something based on its story alone, how market environments can change while the behaviour of participants stays the same, why Trend Followers rely on secret fundamental information being baked into price, the importance of avoiding Outcome Bias, how cockroaches behave in ways that should be the basis of any robust Trading System, and Niels explains how to use the Top Traders Unplugged Trend Barometer. Question

Oct 29, 2019 • 54:39

SI58: The consequences of Bank of America declaring the END of the 60/40 portfolio

SI58: The consequences of Bank of America declaring the END of the 60/40 portfolio

This week, we discuss Bank of America’s declaration of the end of the traditional 60/40 portfolio, the different attitudes to having ‘insurance’ in the markets, the reasons why too many fund managers are aiming for average returns, and the importance of consistently being present to profit from the biggest price moves. Questions we cover this week include: what can be considered a large enough sample size when performing a backtest? What is the best investing advice you have ever received?

Oct 19, 2019 • 1:06:32

SI57: Why investors confuse volatility & noise with risk & instability

SI57: Why investors confuse volatility & noise with risk & instability

On this week’s episode, we discuss the tendency for investors to confuse volatility & noise with risk and instability, the benefits of great mentorship, why the best investments are those that have survived calamitous periods, why risk from any single market shouldn’t be able to ruin your portfolio, and Larry Hite’s observation that there is very little magic in Trend Following. Questions we answer this week include: can a 10-year track record can be considered as anything more than noise? I

Oct 13, 2019 • 1:05:18

SI56: The risk of smooth and steady returns for risk avers investors

SI56: The risk of smooth and steady returns for risk avers investors

This week, we discuss the potential risks of aiming for smooth & steady returns, the pitfalls of having to make predictions, the higher-than-expected appearances of tail events, why it’s dangerous to look at the ‘average performance’ of an industry, and why aiming to trade in a style that suits your personality can actually turn out to be a bad idea. Questions we cover this week include: Have you encountered any CTAs with unusually low-frequency trading strategies? Should the optimizat

Oct 7, 2019 • 1:17:41

TTU111: Alignment of Interest ft. Alan Sheen of Dalton Street Capital – 2of2

TTU111: Alignment of Interest ft. Alan Sheen of Dalton Street Capital – 2of2

Today on Top Traders Unplugged, I continue our conversation with Alan Sheen, talking about how and why he designed Dalton Street Capital’s investment strategy the way he did, and how it has performed compared to the market average over the past three years. Listen in to today’s episode to learn how Alan’s strategies are different from traditional managed futures, his managerial approach that enables employees to innovate, and what an investor should ask a potential manager when doing their due d

Oct 2, 2019 • 55:05

SI55: Aligning your investments with the best odds and why the Sharpe needs salt

SI55: Aligning your investments with the best odds and why the Sharpe needs salt

In this week’s episode, we discuss why Sharpe Ratios should be taken with a pinch of salt, the benefits of using a Trading Coach, why consistently aligning with the best odds may be a better strategy than trying to predict future price moves, DUNN Capital’s recent award from HedgeWeek magazine, why ‘the standout hedge fund traders this year have been computer-driven Trend-Followers’, and why Risk Management is more important than strategy or philosophy. Questions answered this week in

Sep 29, 2019 • 1:14:13

TTU110: The Opportunity of Volatility ft. Alan Sheen of Dalton Street Capital – 1of2

TTU110: The Opportunity of Volatility ft. Alan Sheen of Dalton Street Capital – 1of2

Today on Top Traders Unplugged, I’m speaking with Alan Sheen, Founder and CIO of Dalton Street Capital. Alan has an interesting background in science and engineering, and also spent time in the military, which allowed him to later thrive in rules-based investing. He’s also the first Australian manager to be on the podcast. Listen in to today’s episode to learn about Alan’s journey from the Australian military to starting his own investment firm, why investors should look at volatility not as ris

Sep 25, 2019 • 39:46

SI54: Why NOT losing money is more important than missing opportunities

SI54: Why NOT losing money is more important than missing opportunities

In this episode, we discuss Howard Mark’s comments regarding not losing money being more important than missing opportunities, how solid Trend Following performance can often stay on the edge of randomness, recent opposing comments from the AHL founders on the effectiveness of Trend Following in today’s markets, why complexity and complication might actually be different from one another, and we also touch on a white paper which points out an increased inaccuracy with backtests the more complex

Sep 22, 2019 • 1:09:07

RT27: Why Emotion overrides cognition...dramatically ft. Daniel Crosby – 2of2

RT27: Why Emotion overrides cognition...dramatically ft. Daniel Crosby – 2of2

On today’s episode, Niels continues his conversation with Dr. Daniel Crosby, Chief Behavior Officer of Brinker Capital, and the host of The Standard Deviation Podcast. Niels and Daniel discuss how emotion affects investment decision-making, the problem with financial media, and what investors can do to correct their bad investment behavior.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll L

Sep 18, 2019 • 37:22

SI53: Why most successful Hedge Funds employ Systematic strategies

SI53: Why most successful Hedge Funds employ Systematic strategies

In today’s episode, we discuss if it’s possible to successfully blur the lines between Discretionary & Systematic Trading, why most of the largest Hedge Funds in the world are Systematic, results of the rolling 10-year returns of Trend Following versus the S&P 500, how diversification can prevent long drawdown periods, why forming an opinion on your stock position can negatively affect how you manage the trade, and we also explain some of the differences between Cash Contracts and Contin

Sep 16, 2019 • 1:10:46

MacroVoices: Niels Kaastrup-Larsen on Algorithmic Trading & Trend Following

MacroVoices: Niels Kaastrup-Larsen on Algorithmic Trading & Trend Following

The tables have turned! In this episode, Niels Kaastrup-Larsen becomes the first featured guest on Erik Townsend’s newest podcast – MacroVoices Spotlight! In this episode, Niels and Erik discuss Trend Following, the history of the Turtle Traders, Benefits of de-correlation and conditional correlation, how CTAs have been performing, and much more.Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE 👀 – most CIO’s read 50+ books each year – get your FREE copy of the Ultimat

Sep 13, 2019 • 59:09

RT26: Overcoming behavioural biases ft. Daniel Crosby – 1of2

RT26: Overcoming behavioural biases ft. Daniel Crosby – 1of2

On today’s episode, Niels Kaastrup-Larsen speaks with Dr. Daniel Crosby, Chief Behavior Officer of Brinker Capital, and the host of The Standard Deviation Podcast. Dr. Crosby came to investment management through clinical psychology and therefore has a unique perspective on behavioral economics. The discussion ranges from how human behavior is evolutionarily ill-equipped for investment management, the importance of having rules for investing during turbulent times, and what investors can do to m

Sep 12, 2019 • 31:53

SI52: Working with legendary Paul Tudor Jones ft. Peter Borish

SI52: Working with legendary Paul Tudor Jones ft. Peter Borish

In our special Anniversary Edition of the Systematic Investor Podcast, we invite Peter Borish onto the show to discuss the differences between Discretionary and Systematic Investing, Peter’s journey from the New York Federal Reserve to his role at Quad Group, his experience working with Paul Tudor Jones, his opinion on the CTA industry and its current approach to attracting capital, the benefits of having solid business partners during the best and worst of times, the power of Market Cycles, how

Sep 10, 2019 • 1:21:43

SI51: Improving Diversification through multiple trading approaches

SI51: Improving Diversification through multiple trading approaches

In this week’s show, we discuss using multiple systems to further enhance diversification, the differences between a portfolio meeting expectations versus benchmarking it against an Index, Trend Following in-house versus using an experienced Systematic Investment manager, having the temperament to stay the course with your investments, and the effectiveness of trying to predict the next moves of CTAs. Questions answered this week include: Are interest rates lower than usual at the moment? Does t

Sep 2, 2019 • 1:13:02

SI50: Why great investing is counter-intuitive to Human Nature

SI50: Why great investing is counter-intuitive to Human Nature

Today we discuss the potential dangers of avoiding simplicity, how good Trading is counter-intuitive to Human Nature, the benefits of doing the same thing over and over, how to earn big profits through aggressive Trend Following strategies, the secrets to building wealth through investing, and how we like to approach correlations in our portfolios. Questions answered this week include: Why are complex strategies more attractive to investors? Is the phrase ‘this time it’s different’ a

Aug 25, 2019 • 1:25:46

SI49: Morgan Housel's universal laws of investing and the importance of investor behaviour

SI49: Morgan Housel's universal laws of investing and the importance of investor behaviour

Today, we discuss the potential dangers of taking time away from the markets, the importance of Investor behaviour over the ability to analyse data, Morgan Housel’s article on the universal Laws of Investing, the differences between Buy-and-Hold, periodically re-balancing your portfolio, versus a more active Trend Following approach, as well as the art of profiting from Tail Events. Questions we address this week include: is Inter-Market Analysis a useful tool or a dangerous approach? Shou

Aug 19, 2019 • 1:17:14

SI48: The state of the Bond market and do Institutions affect CTA performance

SI48: The state of the Bond market and do Institutions affect CTA performance

This week, we discuss the current state of the Bond market, how the larger, commercial institutions affect overall CTA Trend Following performance, how to deal with the fluctuations in currencies when performing backtests, and we also give our thoughts on various Trading exit strategies. Questions answered this week include: does the majority of CTAs get out of their equity positions when the S&P500 falls below its 200-day moving average? Should you avoid trading markets that perform b

Aug 10, 2019 • 1:12:37

SI47: Don't fall in Love with your positions

SI47: Don't fall in Love with your positions

This week, we discuss the importance of avoiding any emotional attachments to your positions, how correlated markets can affect your portfolio, how to decide which trades to execute when your signals outweigh the amount of equity available to trade, and we also give our thoughts on Margin-to-Equity related to Position Sizing. Questions answered this week include: does uncertainty in the markets have any negative effects on Trend Following strategies? Can the S&P 500 ever be a good comp

Aug 5, 2019 • 1:21:15

BO26: Behavioral Finance, Crisis Alpha & the Adaptive Market Hypothesis

BO26: Behavioral Finance, Crisis Alpha & the Adaptive Market Hypothesis

When it comes to Behavioural Finance, a few people stand out in terms of their contribution to helping us all understand why and how it works. The intersection between Human Behaviour and Quantitative Investing can be difficult to understand for even the most sophisticated investors. Today, I want to share some really important insights from one of my favorite professors, who is also a practitioner of this discipline, namely Andrew Lo of MIT Sloan School of Management and Director of

Jul 31, 2019 • 15:10

SI46: Are commodities more risky to trade than equities?

SI46: Are commodities more risky to trade than equities?

This week, we discuss whether commodities are more risky to trade than equities, if a stocks-only Trend Following strategy can be profitable in the long run, if a deep drawdown is worse than a long drawdown, and the importance of over-estimating any possible drawdowns implied by a backtest. Questions answered include: should all Trend Following funds be required to provide Crisis Alpha? Is there ever a good time to override your system and trade outside of the rules? Should you always execute tr

Jul 29, 2019 • 1:17:14

BO25: Un-Learning, Keeping an Open Mind & The Legacy of AHL

BO25: Un-Learning, Keeping an Open Mind & The Legacy of AHL

It has been said that: ‘The biggest room of all, is the room for improvement’, and one thing that is clear to see in the amazing careers of today’s guests, is the continued hunger for learning in the quest for an improved investment process. This has led to an unprecedented success for this trio. Today, I share the last key insights from my conversation with Michael Adam, David Harding and Marty Lueck, also known as the founders of AHL. In this post, we don’t just discuss t

Jul 24, 2019 • 13:25

SI45: Ray Dailo's paradigm shift and Gold as a safe-haven

SI45: Ray Dailo's paradigm shift and Gold as a safe-haven

In this week’s episode, we discuss Ray Dalio’s recent article on Paradigm Shifts and his comments on the safety of Gold. We also touch on the perils of having too many filters that keep you from entering a trade, why you should avoid ‘sure thing’ trade recommendations from others, the importance of having a plan before entering a trade, the benefits of incorporating what you’ve learnt from others about Trading into your own strategies, and the reasons for buying at the 52-week high as

Jul 21, 2019 • 1:17:45

BO24: The Importance of Asset Allocation & Patience

BO24: The Importance of Asset Allocation & Patience

In 1987, 3 scientists, 1 from Cambridge and 2 from Oxford, were brought together by their shared passion for the markets and for computers. Little did they know, that over the next 3 decades, this passion would lead them to build 3 world-leading multi-billion dollar Systematic Investment businesses. Today, I would like to share another Golden Nugget with you, from my conversation with Michael Adam, David Harding and Marty Lueck, also known as the founders of AHL. In this post, we foc

Jul 17, 2019 • 24:31

SI44: Should you buy the new 98-year Austrian Bond? and Volatility vs Risk targeting

SI44: Should you buy the new 98-year Austrian Bond? and Volatility vs Risk targeting

On this week’s episode, we discuss the resurgence of ‘boutique’ funds, the new Austrian bond which promises a yield of 1.2% over 98 years, why having new markets to Trade can be good thing, and the differences between Volatility Targeting, versus adjusting overall risk exposure according to market conditions. Questions answered this week include, should you really trade a strategy that suits you? What is the ideal sample size when backtesting data, and should you pay attention to val

Jul 15, 2019 • 1:20:29

BO23: Reminiscences of 3 Trend Followers...the AHL Trilogy

BO23: Reminiscences of 3 Trend Followers...the AHL Trilogy

One of the great Investment books of all time is Reminiscences of a Stock Operator, which is the fictionalized biography of perhaps the most famous Financial Speculator of all time: Jesse Livermore. There is no doubt that even today, 100 years later, we can all learn from of the experiences of successful Investors.In this Best of Top Traders Unplugged, which I have appropriately titled Reminiscences of 3 Trend Followers, Michael Adam, David Harding and Marty Lueck, also known as the founders of

Jul 10, 2019 • 13:52

SI43: Cliff Asness on the difficulty on sticking to a strategy through volatile periods

SI43: Cliff Asness on the difficulty on sticking to a strategy through volatile periods

In this episode, we discuss the recent article from AQR Capital’s Cliff Asness on the difficulty of sticking to a strategy through volatile periods, why we may never know if a particular system is broken, the differences between different Trading timeframes, and we give an update on the upcoming live event in New York in October. We also answer some questions such as: Is there a ‘Holy Grail’ of Stop Losses? What is a good way to backtest a Trading system? Is there a

Jul 8, 2019 • 1:01:10

SI42: Are Stanley Druckenmiller and David Harding right about Trend Following? ft. Salem Abraham

SI42: Are Stanley Druckenmiller and David Harding right about Trend Following? ft. Salem Abraham

Today we’re joined on the show by Salem Abraham, a legendary Trend Follower, and President of Abraham Trading Company based in Canadian, Texas. We discuss if Bitcoin has any real value, how Jerry Parker influenced Salem early in his career (and how he was able to help Jerry), why we don’t need to understand the reasons for a price going up, how looking at your returns too often can affect your performance, if Stanley Druckenmiller and David Harding are right about the effectiveness of Tren

Jul 1, 2019 • 1:32:54

SI41: Bitcoin's recent rally and benefits of trading single stocks

SI41: Bitcoin's recent rally and benefits of trading single stocks

On today’s episode, we give our thoughts on the recent Bitcoin rally, the possible benefits of trading single stocks rather than indices, how spending less time looking at the markets can benefit your Trading, and we also offer some other suggestions for better Trading Discipline. Questions answered this week include: what are the main characteristics of a successful Trader? How often should you change your parameter combinations? How short-term did The Turtles trade, and

Jun 23, 2019 • 1:33:33

SI40: Is past performance actually indicative of future returns? ft. Corey Hoffstein

SI40: Is past performance actually indicative of future returns? ft. Corey Hoffstein

This week, we’re joined by Corey Hoffstein from Newfound Research, who also hosts the Flirting With Models podcast. We discuss his journey into Systematic Investing, why the year you enter the markets will likely impact how you invest in the future, and why random returns can actually be worse for your system than bad returns. Corey explains the term ‘Sequence Risk’, why investors should avoid being too short-term, why risk can only be transformed and not destroyed, and if past perfo

Jun 16, 2019 • 1:40:10

BO22: You don’t need to be a Genius if you can Stick to a Plan

BO22: You don’t need to be a Genius if you can Stick to a Plan

In the previous Best of Top Traders Unplugged, we went back in time to re-visit some of the key lessons that many investors learned during the Financial Crisis of 2008. It was my way of reminding myself, and you, of something that we as investors must never forget. Today, Robert Carver goes much deeper into the human psychology that makes us ill-equipped to deal with our emotions in a rational way when it comes to making good investment decisions, and also, how you can overcome this b

Jun 11, 2019 • 21:26

SI39: How to trade the VIX and do Trend Followers have an edge?

SI39: How to trade the VIX and do Trend Followers have an edge?

Can the VIX index be traded as part of a successful Trend Following strategy? Do CTAs have the edge over traditional Hedge Funds by being invested in the less popular markets? Should some parameters be adjusted according to the market being traded, and can you expect returns from Long Positions & Short Positions to be equal? We also give our thoughts on MorningStar’s recent ‘Bubble Index’ experiment, as well as Real Vision’s recent interview on the subject of ‘selling volat

Jun 9, 2019 • 1:12:01

BO21: Trading for a Living

BO21: Trading for a Living

The financial crisis back in 2008 is slowly fading from the memories of investors. But for those of us who lived and traded through it, many important lessons were learned, and usually the hard way. For many investors, it was a period that can be best described as an Emotional Roller-Coaster, where billions of dollars were lost by investment decisions which were primarily driven by emotions. In my hope to make sure that these lessons are not forgotten and wasted, I wanted to sha

Jun 6, 2019 • 16:29

SI38: Process over outcome and how sports relates to trading

SI38: Process over outcome and how sports relates to trading

This week, we discuss the importance of process over outcome, how sports can be related to Trading, and whether mistakes are to be avoided completely or something we should look forward to learning from. Questions answered this week include: is Ray Dalio’s suggestion of 15 uncorrelated return streams the ultimate way to diversify your portfolio? Are some markets more tradable for Trend Followers than others? Is market ‘noise’ making it harder for Trend Followers, or is the volatility

Jun 2, 2019 • 1:32:40

BO20: How to start & grow a CTA business

BO20: How to start & grow a CTA business

I get a lot of questions about ideas to help build the best Trading Model, and I understand why many aspiring managers feel that this is critical to their future success. There is though, a lot of truth in the saying: “Most people overvalue ideas and underestimate execution”. What I mean by that is, when you want to start and build a business such as a Hedge Fund or CTA, I’m not so sure that the real challenge lies within the design of your investment approach. Nowada

May 28, 2019 • 19:28

SI37: Is "Buy and Hold" the perfect investment strategy? and should you "Equal Weight"?

SI37: Is "Buy and Hold" the perfect investment strategy? and should you "Equal Weight"?

Is ‘Buy & Hold’ the S&P500 index the perfect investment strategy?  Should you apply Equal-Weighting across all of your Trading positions?  Are long-term strategies the only way to avoid market noise?  Also, we give our thoughts on why you should avoid ‘Fat-Tail Distributions’, Volatility versus Risk, how Trend Following strategies tend to ‘melt-up’ rather than crash down, and our upcoming Systematic Investor Series Live Event.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Perf

May 25, 2019 • 1:06:01

BO19: The Evolution and Future of Trend Following

BO19: The Evolution and Future of Trend Following

Regardless of the investment strategy that you apply to the markets, your strategy or approach needs to evolve over time. The way we did Trend Following back in the 1970s, 1980s & 1990s is not exactly the way we do it today, and I think this can be said about most, if not all strategies. Now with some strategies, the model decay is so rapid, that if you don’t adapt quickly you can lose your edge. I think short-term strategies are good examples of this. Trend

May 21, 2019 • 22:06

SI36: Can you measure the quality of your strategy on your stress-level?

SI36: Can you measure the quality of your strategy on your stress-level?

In today’s episode, we discuss whether or not Trend Following is more effective with Volatility Targeting, how cautious you should be of outlier events, how to use stress-levels as an indicator of how good your trading strategy is, and we give our thoughts on the concept of ‘Risk of Ruin’, in relation to the plight of Long-Term Capital management in the late 1990s. Questions this week include: Should you trade in a style that suits your personality? Can 10 years of financial data sti

May 19, 2019 • 1:08:32

SI35: The journey from managing personal money to external clients

SI35: The journey from managing personal money to external clients

Today, we discuss how to go from managing personal money to third-party money, in this current regulatory environment. We clear up some confusion surrounding the VIX market, touch on stocks vs commodities & how they affect on Trend Following strategies differently, as well as how to avoid a single driver from overly correlating your portfolio. We also answer the questions: how do you define long-term versus short-term? Did Richard Dennis’s Turtles ever add to winning positio

May 12, 2019 • 1:25:56

SI34: Can Central Banks and policies prevent trends in the future?

SI34: Can Central Banks and policies prevent trends in the future?

In today’s episode, we discuss how much central banks or political events, can prevent or create market trends in the future. We also discuss AQR Capital Management’s recent study on Trend Following performance in the current decade, and whether or not we have seen the end of large market trends. We wonder if technology prevents Commodities from having bull runs like Equities have had in the last decade, and we answer questions on scaling in and out of trades, where to get back-adjusted da

May 5, 2019 • 1:33:11

RT25: Alpha decay in Short-Term strategies ft. John Fidler, Jonathan Miles & Christopher Vogt – 2of2

RT25: Alpha decay in Short-Term strategies ft. John Fidler, Jonathan Miles & Christopher Vogt – 2of2

On today’s episode, guest host Ranjan Bhaduri continues his conversation with John Fidler, Senior VP and Director of Alternative Investments at Commonwealth Bank and Trust, Christopher Vogt, Director of Equity Strategies at Margaret Cargill Philanthropies, and Jonathan Miles, Managing Director of Ascent Private Capital Management of U.S. Bank. Listen in as our guests talk about management fees and how they have changed over the past decade, the importance of constantly checking your assumptions,

May 2, 2019 • 30:42

BO18: How to test a model over decades of Data

BO18: How to test a model over decades of Data

I often see the press write that too much money is chasing the same trends, and this being the reason that Trend Following strategies have been performing a little under par in the last few years. So who better to ask if this really is true, than my friend Kathryn Kaminski, who of course co-wrote the bible on Trend Following with Alex Greyserman… as well as a book with me, that you can find on my website. We also discussed how they conducted their research for their book, w

Apr 30, 2019 • 34:28

SI33: The positive effect of embracing volatility ft. Wayne Himelsein

SI33: The positive effect of embracing volatility ft. Wayne Himelsein

This week, we invite special guest Wayne Himelsein onto the show from Logica Capital Advisers, in Los Angeles. Wayne explains his journey into starting a Hedge Fund, some of the lessons he has learned over the years, and some of the rules that keep him from repeating past mistakes. He describes why he loves Trend Following, why embracing ‘uncertainty’ can have a positive effect on Trading, and how he typically constructs a portfolio. We also discuss why Wayne prefers

Apr 29, 2019 • 1:51:56

RT24: The Value of Liquidity ft. John Fidler, Christopher Vogt & Jonathan Miles – 1of2

RT24: The Value of Liquidity ft. John Fidler, Christopher Vogt & Jonathan Miles – 1of2

On today’s episode, guest host Ranjan Bhaduri speaks with John Fidler, Senior VP and Director of Alternative Investments at Commonwealth Bank and Trust, Christopher Vogt, Director of Equity Strategies at Margaret Cargill Philanthropies, and Jonathon Miles, Managing Director of Ascent Private Capital Management of U.S. Bank. With these experts on managed futures, we will discuss how managed futures is being incorporated into institutional portfolios, illiquid versus liquid investments, and what r

Apr 24, 2019 • 31:01

SI32: How accurately can we predict future returns? and can trading with systems keep you happy?

SI32: How accurately can we predict future returns? and can trading with systems keep you happy?

Are CTAs giving the wrong message by charging low performance fees? Is there a perfect amount of AUM to aim for? Can Systematic Trading keep you happy? How accurately can we predict future returns? We discuss whether Trend Following is easy enough to do at home, or if you should do it through a reputable fund instead. What sort of things can be found in a ‘Research Graveyard’? Should you use Stop Losses, and if so, how and where should you place them? We

Apr 22, 2019 • 1:32:27

BO17: Track records vs Simulations... what’s Best?

BO17: Track records vs Simulations... what’s Best?

For those of us who have been on the manager side for a while, you’ll know that investors love to analyse decades of performance data before deciding which manager they are going to invest with, and that makes a lot of sense. But we also come across investors who subsequently redeem based on just a year or two after they invested, which is usually just down to bad luck and unfortunate timing. This does not seem logical, but it does relate to the short conversation I want to share wit

Apr 15, 2019 • 21:35

SI31: Should you be using a Stop-Loss? or Target a certain level of Volatility?

SI31: Should you be using a Stop-Loss? or Target a certain level of Volatility?

Does Systematic Trading completely eliminate all emotions from the process? Is it wise to use Stop-Losses? Should CTAs target low-volatility & average returns, or high returns with higher possible volatility? Can a finely-crafted Trading System be considered in the same way as a fine piece of art? Are all Trend Following systems essentially the same? We also discuss if intricate rules are better than ‘broader brush-strokes’, if it really is ‘difficult times’ for

Apr 15, 2019 • 1:26:38

BO16: Crisis Alpha explained

BO16: Crisis Alpha explained

Kathryn Kaminski is one of my favorite people to discuss Trend Following with, because she has a great way of simplifying and explaining some of the key concepts of the strategy. Today, we talk about the phrase Crisis Alpha, and how it may be better to think about these strategies as Divergent strategies, because in reality we don’t need a crisis in order for Trend Following to do well. Years like 2014 and 2017 are great examples of this. Q1 of 2019 is perhaps a more recent example t

Apr 10, 2019 • 21:53

SI30: Should you adjust your position size based on recent volatility?

SI30: Should you adjust your position size based on recent volatility?

Is it wise to adjust position-size according to recent volatility? Can back-testing a Trend Following strategy end up as just being a form of curve-fitting? We discuss the merits of Long-Term evidence over Recency Bias, the importance of Sharpe Ratios, the significance of price gaps, and whether leverage is a necessity for all CTAs. You will hear our thoughts on the idea of risking 1% per trade and how diversification affects this, the pros and cons of a crowded Trend Following market, and we to

Apr 7, 2019 • 1:34:27

BO15: Why Trend Following is Not a Black Box

BO15: Why Trend Following is Not a Black Box

Often, a Trend following strategy is described as being a ‘Black Box’, as if something bad was going on. So it was refreshing to hear Scott Foster talk about Trend Following as being in fact, a ‘White Box’, or a ‘Transparent Box’, in comparison to other algorithmic strategies, which are often embraced by investors to a much larger degree… so I’m delighted to share this blog post with you, from a conversation I had with Scott Foster, where he also touched on the essential question: Why

Apr 4, 2019 • 14:11

SI29: Can Value Investing be applied to Gold? and Trend Following as a forecasting tool ft. Jesse Felder

SI29: Can Value Investing be applied to Gold? and Trend Following as a forecasting tool ft. Jesse Felder

In this episode, we’re joined by special guest, Jesse Felder, from The Felder Report & the SuperInvestor Podcast. Jesse describes his journey into the markets, if he uses Trend Following strategies in his portfolio, why he thinks we’re in a Bear Market, and in the middle of a major ‘topping process’, what he thinks about Passive Investing, his go-to timing tools, and if Value Investing can be applied to non-equity markets such as Gold. We also ask Jesse: does he use the VIX index

Mar 31, 2019 • 1:17:23

RT23: Populism and Market Risks ft. Chris Cole, Matthew Sargaison & Dan Stone – 2of2

RT23: Populism and Market Risks ft. Chris Cole, Matthew Sargaison & Dan Stone – 2of2

Today guest host Chris Solarz continues his conversation with Chris Cole, the Founder and CIO of Artemis Capital Management, Matthew Sargaison, co-CEO at AHL at Man Investments, and Dan Stone, co-founder of Ionic Capital. Our guests today go over the changing markets and why despite trend following’s recent underperformance, their clients still look to it as protection for their portfolio. They will also continue their discussion on the intersection of populism, politics, and quantitative easing

Mar 27, 2019 • 29:26

SI28: Investing based on the "Evidence" and what are the Trend Commandments?

SI28: Investing based on the "Evidence" and what are the Trend Commandments?

On today’s show, we give our thoughts on ‘Evidence-Based Investing’, David Harding’s latest comments on Trend Following, how much is too much ‘Open Risk’, as well as answering: what are some of the ‘Trend Commandments’? Also, we discuss whether it’s safe or not to buy after a big upside price break or sell after a big gap down, whether Volatility should be ‘targeted’ in your portfolio, and if a system can be designed handle ‘parabolic moves’ better.-----EXCEPTIONAL RESOURCE: Find Out How t

Mar 24, 2019 • 1:22:29

RT22: Volatility Master Class ft. Chris Cole, Matthew Sargaison & Dan Stone – 1of2

RT22: Volatility Master Class ft. Chris Cole, Matthew Sargaison & Dan Stone – 1of2

On today’s episode guest host Chris Solarz speaks with Chris Cole, founder and CIO of Artemis Capital Management, Matthew Sargaison, co-CEO at AHL at Man Investments, and Dan Stone, co-founder of Ionic Capital. With these three world class volatility experts on the show, we’ll be going deep into the current state of volatility, the ramifications of United States quantitative easing, as well as the economic effects on the market of various social movements around the world.-----EXCEPTIONAL RESOUR

Mar 20, 2019 • 30:40

SI27: Volatility vs Risk...What's the difference? and are CTAs useless?

SI27: Volatility vs Risk...What's the difference? and are CTAs useless?

Discussion points this week include, Volatility vs Risk, the differences between Trading and Investing, Zero Hedge’s comment about CTAs & Trend Followers being useless, and the NY Times article on high market skepticism while prices continue to go up. Also, should CTAs be used as a tool just for ‘Crisis Alpha’, or something more? Can Trend Following be used as a timing tool? What is the best sample size and look-back period when testing a system?-----EXCEPTIONAL RESOURCE: Find Ou

Mar 16, 2019 • 1:08:03

SI26: Is it more profitable to invest longer-term? and Druckenmiller on being greedy

SI26: Is it more profitable to invest longer-term? and Druckenmiller on being greedy

Is it more profitable to be longer-term? When is Trend Following the wrong strategy to use? Should you ‘ease’ into a trade, or go all in, and how should you adjust position size? Other talking points include where to trade Single Stock Futures, how to include Options into a Trend Following strategy, as well as recent quotes from Stanley Druckenmiller about being greedy in the markets, and the quotes from Howard Marks on the psychology of the markets.-----EXCEPTIONAL RESOURCE: Fi

Mar 10, 2019 • 1:23:19

BO14: How ”slow” trading can be Profitable

BO14: How ”slow” trading can be Profitable

Would you believe somebody if they told you they had been very successful in the investment world, by looking at the just markets once a week? Everything, and everyone, seems to be getting increasingly more short-term in their nature, so it seems counter-intuitive that you can run an actively managed trading strategy by only checking for new signals once a week. Nevertheless, this is exactly what Scot Billington and his partners have done.When I spoke to Scot a while back, he shared some great s

Mar 5, 2019 • 13:11

SI25: Where to start your Trend Following jouney?

SI25: Where to start your Trend Following jouney?

Discussion points this week include: Where to start if you want to become a Trend Following Trader, whether or not to trade markets differently, Bloomberg’s article on the supposed Failing of Trend Following, how strategies can cope and adapt during drawdowns, how to know when you are truly diversified or not, and a lot more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn,

Mar 3, 2019 • 1:37:57

RT21: What's next for Hedge Funds? ft. Jake Barton, Trent Webster & Steven Wilson – 2of2

RT21: What's next for Hedge Funds? ft. Jake Barton, Trent Webster & Steven Wilson – 2of2

Today Niels continues his conversation with Jake Barton, the Senior Portfolio Manager at Promus Capital, Trent Webster, Senior Investment Officer of Strategic Investments at Florida State Board of Administration, and Steven Wilson, Senior Portfolio Manager at Teacher Retirement System of Texas. Listen in to learn when our guests use investment theory versus data, new standards for management fees, and what our guests look for in maintaining a reliable team for their investors.-----EXCEPTIONAL RE

Mar 1, 2019 • 44:00

SI24: Why Trend Following has "failed" to attract a lot of Assets ft. Meb Faber

SI24: Why Trend Following has "failed" to attract a lot of Assets ft. Meb Faber

Meb Faber joins the show to discuss his journey into Trend Following, where Trend Following funds have gone wrong in terms of attracting assets & growing AUM, why he started his company Cambria Investments and the difficulties that this involved, the perceived safety of US Treasuries, Mutual Funds vs ETFs, and a lot more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn,

Feb 24, 2019 • 1:33:38

RT20: The Looming Pension Crisis ft. Jake Barton, Trent Webster & Steven Wilson – 1of2

RT20: The Looming Pension Crisis ft. Jake Barton, Trent Webster & Steven Wilson – 1of2

On today’s episode Niels Kaastrup-Larsen speaks with Jake Barton, the Senior Portfolio Manager at Promus Capital, Trent Webster, Senior Investment Officer of Strategic Investments at Florida State Board of Administration, and Steven Wilson, Senior Portfolio Manager at Teacher Retirement System of Texas. As managers of the investment of pensions and alternative portfolios, our guests today get in depth on how they use trend following to improve their client’s capital, from interpersonal strategie

Feb 20, 2019 • 49:42

SI23: What is the value of the 200-Day Moving Average?

SI23: What is the value of the 200-Day Moving Average?

What is the value of the 200-day Moving Average, the benefit of tried and tested strategies vs new and trendy strategies? Are drawdowns a necessary component of a robust strategy, and what is the optimum startup capital? These, and a lot more we discuss this week.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s r

Feb 17, 2019 • 1:33:48

BO13: The History of Trend Following

BO13: The History of Trend Following

The concept of Trend Following has been around for a long time, but it wasn’t until a few years back, that the Bible on Trend Following was written by Kathryn Kaminski and Alex Greyserman. Today, I am delighted to share some of the interesting lessons, insights, and key things that Kathryn Kaminski took away from the long road to publishing this book. Listen to the full episode here. Part 1 & Part 2.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing P

Feb 13, 2019 • 10:55

SI22: Can intra-day trading be scaled to a big business?

SI22: Can intra-day trading be scaled to a big business?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Feb 10, 2019 • 1:32:50

BO12: Market Psychology & Universal Truths

BO12: Market Psychology & Universal Truths

A while back, I had a very enjoyable time speaking to Scott Foster from Dominion Capital Management, who is not your typical Trader. He draws from a wide range of influences such as Aristotle, Magic, and Austrian Economics. I am delighted to share some of these deep insights with you in this short blog post, and I hope you enjoy these unique views and observations from Scott. Listen to the full episode here. Part 1 & Part 2.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer &

Feb 4, 2019 • 11:04

SI21: Why the biggest drawdown is always ahead of you or so they say

SI21: Why the biggest drawdown is always ahead of you or so they say

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Feb 4, 2019 • 1:13:27

BO11: Simplicity is the Ultimate Sophistication

BO11: Simplicity is the Ultimate Sophistication

A few years back, I had a great discussion with die-hard Trend Follower, Scot Billington. I would like to share some key moments with you, including how to perceive past track records, and also some of the differences between the long side and the short side. Listen to the full episode here.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the

Jan 30, 2019 • 16:34

SI20: Crisis Alpha...To Love or Not To Love

SI20: Crisis Alpha...To Love or Not To Love

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Jan 28, 2019 • 1:06:36

RT19: Who actually learned from the last financial crisis? ft. Andrew Lo & Sol Waksman – 2of2

RT19: Who actually learned from the last financial crisis? ft. Andrew Lo & Sol Waksman – 2of2

Today Niels Kaastrup-Larsen continues his conversation with Andrew Lo, the Charles E. and Susan T. Harris Professor at the MIT Sloan School of Management, and Sol Waksman, the Founder and President of BarclayHedge, Ltd. Listen in to learn the effects of politics in the financial markets and how trend following fits in, the state of cryptocurrency in the current market, and the advice our guests have for investors and their future.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Bet

Jan 23, 2019 • 41:57

SI19: Can you apply Trend Following to Life?

SI19: Can you apply Trend Following to Life?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Jan 20, 2019 • 1:01:55

RT18: Are markets really Efficient? ft. Andrew Lo & Sol Waksman – 1of2

RT18: Are markets really Efficient? ft. Andrew Lo & Sol Waksman – 1of2

On today’s episode, Niels Kaastrup-Larsen speaks with Andrew Lo, the Charles E. and Susan T. Harris Professor at the MIT Sloan School of Management, and Sol Waksman, the Founder and President of BarclayHedge, Ltd. Our guests today have many years of experience in the world of investing and have watched the finance industry as it has gone through its many changes. Listen in to learn the historical importance of separating the alpha from the beta, the increase of the volatility of volatility

Jan 16, 2019 • 40:52

SI18: How to know if you are over-fitting your model parameters

SI18: How to know if you are over-fitting your model parameters

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Jan 13, 2019 • 1:06:14

SI17: The philosophy of Trend Following

SI17: The philosophy of Trend Following

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Jan 7, 2019 • 1:12:46

SI16: What Returns and Drawdowns can you expect from Trend Following

SI16: What Returns and Drawdowns can you expect from Trend Following

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Dec 29, 2018 • 1:13:07

SI15: Has too much Diversification hurt performance in recent years?

SI15: Has too much Diversification hurt performance in recent years?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Dec 22, 2018 • 1:30:03

BO10: Systematic Global Macro…an Experts view

BO10: Systematic Global Macro…an Experts view

A while back I had a very memorable time talking with Anders Lindell, discussing many trading related topics. There was one part in particular that I want to share where Anders shared his understanding on US institutions and how they deal with asset allocation and position sizing. If you would like to find out then read on!Listen to the full episode here. Part 1 & Part 2.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FRE

Dec 19, 2018 • 14:50

SI14: How many markets should you include in your portfolio?

SI14: How many markets should you include in your portfolio?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Dec 15, 2018 • 49:23

BO09: From Discretionary Trading to a Systematic Approach

BO09: From Discretionary Trading to a Systematic Approach

At the very beginning of my podcasting career, I had a great conversation with Mike Dever covering many trading related topics, one of which were the different approaches to trading. And there was One segment I really liked in particular, and which I would like to share with you today. It was a segment where Mike shared his own systematic approach to trading and as you listen to it, we need to keep in mind that Mike was not always a systematic trader. Listen to the full episode here.

Dec 11, 2018 • 11:21

SI13: The market impact of too much money following trends

SI13: The market impact of too much money following trends

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Dec 9, 2018 • 51:49

RT17: What makes Bitcoin "anti-fragile"? ft. James Koutolas, Tim McCourt & Roy Niederhoffer – 2of2

RT17: What makes Bitcoin "anti-fragile"? ft. James Koutolas, Tim McCourt & Roy Niederhoffer – 2of2

Today guest host Chris Solarz continues his conversation with Tim McCourt, the Global Head of Equity Index and Alternative Investment Products at CME Group, James Koutolas, CEO of Typhon Capital Management, and Roy Niederhoffer, President of R.G. Niederhoffer Capital Management. Listen in to learn more about the future of cryptocurrency technologies, the unprecedented strength of the blockchain in Bitcoin, and how the SEC and world economies are looking into cryptocurrencies.-----EXCEPTIONAL RES

Dec 5, 2018 • 35:36

SI12: What causes drawdowns and how to deal with them

SI12: What causes drawdowns and how to deal with them

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Dec 3, 2018 • 59:44

RT16: The birth of the first Futures on Crypto ft. James Koutolas, Tim McCourt & Roy Niederhoffer – 1of2

RT16: The birth of the first Futures on Crypto ft. James Koutolas, Tim McCourt & Roy Niederhoffer – 1of2

On today’s episode, guest host Chris Solarz speaks with Tim McCourt, the Global Head of Equity Index and Alternative Investment Products at CME Group, James Koutolas, CEO of Typhon Capital Management, and Roy Niederhoffer, President of R.G. Niederhoffer Capital Management. Our guests today are at the forefront of cryptocurrency investment and their views give insight on where it is headed, from public acceptance to their integration in managed futures. Listen in to today’s episode to learn what

Nov 29, 2018 • 35:07

SI11: Why hire a manager when you can DIY your Trend Following?

SI11: Why hire a manager when you can DIY your Trend Following?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Nov 26, 2018 • 1:16:01

TTU109: Risk Mitigation Whilst Trading Exotic Markets ft. Doug Greenig of Florin Court Capital – 2of2

TTU109: Risk Mitigation Whilst Trading Exotic Markets ft. Doug Greenig of Florin Court Capital – 2of2

Moritz Seibert and I continue our conversation with Doug Greenig, talking about the many different ways risk can manifest in your firm, how best to minimize it, and why building a strong team is one of the most important elements in staying ahead in the trend following space. Listen in to learn the many benefits of getting into exotic markets, how to best manage your risk, and what all investors should be asking themselves to better their portfolio.-----EXCEPTIONAL RESOURCE: Find Out How to Buil

Nov 21, 2018 • 36:16

SI10: How to set your Stop-Loss and Size your Positions?

SI10: How to set your Stop-Loss and Size your Positions?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Nov 17, 2018 • 1:01:59

TTU108: Big Opportunities in Exotic Markets? ft. Doug Greenig of Florin Court Capital – 1of2

TTU108: Big Opportunities in Exotic Markets? ft. Doug Greenig of Florin Court Capital – 1of2

Today I’m joined by my co-host Moritz Seibert to speak with Doug Greenig, the Founder, CEO, and CIO at Florin Court Capital. Doug’s early experiences in economics at Princeton and UC Berkeley helped kick off his career in finance, and his work at BARRA in Berkeley started his eventual dive into the CTA space. Trading in exotic markets has helped Doug and his firm capitalize on unique opportunities and fully utilize the systematic trading model. Listen in to today’s episode to learn how Doug got

Nov 15, 2018 • 39:36

SI09: What really makes a Trend Follower a Trend Follower?

SI09: What really makes a Trend Follower a Trend Follower?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Nov 12, 2018 • 52:05

BO08: How to really Define Risk

BO08: How to really Define Risk

During a conversation I had with expert Bill Dreiss, we discussed many topics, all with great value. One part in particular I found really interesting, and which I would like to share with you, was when I asked Bill how he defines risk. If you would like to l know what Bill said then keep listening!Listen to the full episode here.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, Linke

Nov 7, 2018 • 8:10

SI08: How to tell if you system has stopped working?

SI08: How to tell if you system has stopped working?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of.-----EXCEPTIONAL RESOURCE: Find Out How to Bui

Nov 5, 2018 • 1:07:29

BO07: Cold Turtle Takeaways

BO07: Cold Turtle Takeaways

It’s not often you get to sit down with a Turtle, let alone the father of the Turtle Experiment, and when I do I find it fascinating learning about the different experiences and outcomes that emerged from what really can be boiled down to 2 to 3 weeks of training in how to use trading rules to make money in the markets. What was truly unique about the conversation I want to share a few key takeaways from today, is that Richard Dennis was joined by two of his Turtles, namely

Oct 31, 2018 • 9:09

SI07: What is; alpha, smart beta, implied vol, crisis alpha and convexity?

SI07: What is; alpha, smart beta, implied vol, crisis alpha and convexity?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of.-----EXCEPTIONAL RESOURCE: Find Out How to Bui

Oct 29, 2018 • 1:04:10

TTU107: The Bright Future of Trend Following ft. Jean Jacques Duhot of Arctic Blue Capital – 2of2

TTU107: The Bright Future of Trend Following ft. Jean Jacques Duhot of Arctic Blue Capital – 2of2

Moritz Seibert and I continue our conversation with Jean Jacques Duhot and further discuss his contrarian and multi-part model, how his management company has stayed lean, and how the due diligence of investors and managers has changed the trading space for the better. Listen in to learn the unique properties of Jean Jacques new equities program, what he sees in the future of trend following, and who has influenced him most.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Bett

Oct 25, 2018 • 30:43

BO06: Identifying the best trading rules

BO06: Identifying the best trading rules

In any systematic trading strategy choosing the right combination of parameters for your model or approach is critical. So today, I wanted to share a valuable takeaway from a conversation with Bill Dreiss, where we discuss his thoughts, experience and approach to identifying parameter sets which I think you will find to be rather different to most managers. Bill and I discussed this as well as many other super interesting aspects of trading from his

Oct 24, 2018 • 8:50

SI06: How to optimize your trading system

SI06: How to optimize your trading system

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Oct 20, 2018 • 59:17

TTU106: The Value of Being a Contrarian Trader ft. Jean Jacques Duhot of Arctic Blue Capital – 1of2

TTU106: The Value of Being a Contrarian Trader ft. Jean Jacques Duhot of Arctic Blue Capital – 1of2

Today I’m joined by my co-host Moritz Seibert to speak with Jean Jacques Duhot, the Chief Investment Officer at Arctic Blue Capital. Jean Jacques’s observations of different discretionary trading teams has given him valuable insight into a variety of trading methods and has allowed him to develop a unique multi-part model that utilizes the role of a contrarian mindset to great success. Listen in to today’s episode to learn about the beginnings of Arctic Blue Capital, how Jean Jacques developed h

Oct 19, 2018 • 34:19

BO05: The Problems with Smart Beta & the Holy Grail of Investing?

BO05: The Problems with Smart Beta & the Holy Grail of Investing?

Kathryn Kaminski and I had the opportunity to sit down with Nigol Koulajian, the founder of Quest Partners, in which he shared his deep insights in many areas of trading. During our conversation, there were a few short segments that I particularly enjoyed and I would love to share them with you here. Below you can learn about Nigols take on the problems with Smart Beta, and also his explanation of Filtering being the Holy Grail. This interview was packed with insight and wisdom.Listen to the ful

Oct 17, 2018 • 10:40

SI05: The Systematic Investor Series – October 15th, 2018

SI05: The Systematic Investor Series – October 15th, 2018

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Oct 15, 2018 • 55:34

BO04: Return Dispersion and how to successfully trade since 1974

BO04: Return Dispersion and how to successfully trade since 1974

In today’s post, I would like to share with you some really great moments and unique takeaways from  a conversation I had with Marty Bergin, the president and owner of DUNN Capital Management, where Marty shares his views on Return Dispersion and how those experiences, together with extensive research, has enabled them to produce a more robust trend following process for their clients. Listen to the full episode here.--

Oct 10, 2018 • 12:08

SI04: Stanley Druckenmiller interview disected

SI04: Stanley Druckenmiller interview disected

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Oct 8, 2018 • 42:48

BO03: How the Turtles got their Name… and are the Rules Relevant Today?

BO03: How the Turtles got their Name… and are the Rules Relevant Today?

Today I would like to share some really great and unique takeaways from a conversation I had with the one and only Richard Dennis, the father of the Turtle Project from back in the 1980’s as well as two of his turtles, namely Brian Proctor and Jerry Parker. In our conversation we put the record straight for the first time on a number of myths about the Turtle experiment including How the Turtles got their name, and if the original rules that we

Oct 3, 2018 • 11:25

SI03: Should you trade Futures or ETFs?

SI03: Should you trade Futures or ETFs?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Sep 30, 2018 • 1:01:49

BO02: The secret to successfully using Machine Learning

BO02: The secret to successfully using Machine Learning

Today I would like to share with you some life lessons and learnings from expert Robert Sinnott, where he shares his in depth knowledge of the modern evolution of systematic trading, in the form of Machine learning, and how machine learning has effected and impacted their short term and long term strategies. If you would like to hear the full episode then you can listen by clicking here. I’m pretty sure you are going to learn something valuable from

Sep 26, 2018 • 12:09

SI02: Is the popularity of Short Volatility investing hurting Trend Followers?

SI02: Is the popularity of Short Volatility investing hurting Trend Followers?

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Sep 22, 2018 • 42:45

BO01: The Impact of Volatility Trading ft. Nigol Koulajian

BO01: The Impact of Volatility Trading ft. Nigol Koulajian

Kathryn Kaminski and I had the opportunity to sit down with Nigol Koulajian, the founder of Quest Partners, in which he shared his wealth of experience including life lessons and even his take on the modern scientific trading systems that are used today. One of topics which I particularly liked, and would like to share with you here, was his view on the VIX and Volatility trading within the managed futures industry and also outside of the industry. Listen to the full episode here.-----EXCEPTIONA

Sep 18, 2018 • 9:37

SI01: Who we are...and Why we are doing this series

SI01: Who we are...and Why we are doing this series

Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the events that took place through the lens of a Systematic Investor and how the trading strategies we work with are reacting. It’s a raw and honest exploration and we hope you will join and be part of…not least by sending us questions that we can

Sep 17, 2018 • 56:13

RT15: Avoiding unrealistic expectations in Crypto ft. Jennifer Sunu, Arthur Bell & JP Bruynes – 2of2

RT15: Avoiding unrealistic expectations in Crypto ft. Jennifer Sunu, Arthur Bell & JP Bruynes – 2of2

Today Niels continues his conversation with Jennifer Sunu, who is the director of compliance at the NFA, Arthur Bell, CPA and managing member of Bell Tower LLC, and JP Bruynes, who is a partner at the law firm Akin Gump.Listen in to today’s episode as we focus on how regulators are helping and sometimes hurting managers and clients, the importance of cyber security as a CTA, the way that cryptocurrencies have changed the way we trade, some of the best things that have happened to managed futures

Aug 23, 2018 • 46:13

RT14: What it takes to set up a CTA business ft. Jennifer Sunu, Arthur Bell & JP Bruynes – 1of2

RT14: What it takes to set up a CTA business ft. Jennifer Sunu, Arthur Bell & JP Bruynes – 1of2

On today’s episode Niels Kaastrup-Larsen is joined by Jennifer Sunu, who is the director of compliance at the NFA, Arthur Bell, CPA and managing member of Bell Tower LLC, and JP Bruynes, who is a partner at the law firm Akin Gump.Listen in to today’s episode as we focus on how the managed futures industry is organized, how it has changed since the industry started, who the key players are and what role do they play, and how regulators keep an eye on all these players to ensure they play fairly.-

Aug 16, 2018 • 43:57

TTU105: The Many Flavors of Trend Following ft. Niels Kaastrup-Larsen of DUNN Capital (Europe)

TTU105: The Many Flavors of Trend Following ft. Niels Kaastrup-Larsen of DUNN Capital (Europe)

We’re changing things up on today’s episode of the podcast: we have with us Frank Conway from the Economic Rockstar Podcast interviewing Niels about trend following strategies, asset allocation, and more. Listen in to find out what changes need to be made in the trend following space, the importance and benefits of your asset allocation when it comes to your investments, and new publications that can take you farther in mastering trend following and managed futures.-----EXCEPTIONAL RES

Jul 9, 2018 • 1:13:06

TTU104: The Passive & The Active Investor ft. Harold de Boer of Transtrend – 2of2

TTU104: The Passive & The Active Investor ft. Harold de Boer of Transtrend – 2of2

Katy Kaminski and I continue our conversation with Harold de Boer, and discuss his philosophy behind pure trend and divergent trading, as well as why Harold believes Transtrend is unique in the managed future space. In this episode, we talk about the benefits of synthetic trading, Harold’s advice to a new rising star, and what he is looking forward to going forward.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Too

Jun 21, 2018 • 40:21

TTU103: Trading In The Medium-Term Space ft. Harold de Boer of Transtrend – 1of2

TTU103: Trading In The Medium-Term Space ft. Harold de Boer of Transtrend – 1of2

Harold De Boer is a Managing Director, Member of Management Committee and Member of Board of Directors at Transtrend B.V. Growing up, Harold’s interest in statistics grew out of his work at his family’s dairy farm, and expanded into the world of trading and managed futures. Listen in to learn about Harold’s unique perspective on the industry, his marketing philosophy, and some of the most important lessons he’s learned during his successful career.-----EXCEPTIONAL RESOURCE: Find Out How to Build

Jun 15, 2018 • 39:15

TTU102: What Institutions have Learnt about Investing ft. Nigol Koulajian of Quest Partners – 2of2

TTU102: What Institutions have Learnt about Investing ft. Nigol Koulajian of Quest Partners – 2of2

Katy Kaminski and I continue our conversation with Nigol Koulajian, and discuss if his strategies of working with, around, and doing the opposite of what many investors are doing, has given him any advantages? In this episode, we talk about the risk of research and data affecting the market, why he distrusts in many institutional teachings of finance, and what he is looking forward to this year.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE

May 24, 2018 • 33:09

TTU101: Should You Trust The Short-Term Over The Long-Term? ft. Nigol Koulajian of Quest Partners – 1of2

TTU101: Should You Trust The Short-Term Over The Long-Term? ft. Nigol Koulajian of Quest Partners – 1of2

Nigol Koulajian is the Founder and Chief Investment Officer of Quest Partners LLC, and has been designing and trading short-term and long-term technical systems for over 22 years. Coming from Columbia business school, many of Nigol’s general practices seem counter-intuitive but have consistently yielded results. This interview will help get you deeper into the trading and management philosophy that has made Quest Partners such a successful firm.-----EXCEPTIONAL RESOURCE: Find Out How to Build a

May 18, 2018 • 37:22

TTU100: Being Transparent With Your Clients ft. Robert Sinnott of AlphaSimplex – 2of2

TTU100: Being Transparent With Your Clients ft. Robert Sinnott of AlphaSimplex – 2of2

In our continued conversation with Robert Sinnott, Katy Kaminski and I dive into why AlphaSimplex has been so successful, why Robert values transparency in his firm so highly, and what he advises for new and rising-star investors. He goes deep into what he is excited about and afraid of with managed futures, and what he’s looking forward to accomplishing with AlphaSimplex in the future.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW

Apr 19, 2018 • 38:30

TTU99: The Good and Bad of Machine Learning ft. Robert Sinnott of AlphaSimplex – 1of2

TTU99: The Good and Bad of Machine Learning ft. Robert Sinnott of AlphaSimplex – 1of2

From the very beginning, Robert Sinnott has studied the movement of the markets and how to anticipate their changes. Robert earned both an A.B. and an A.M. in Statistics from Harvard University, where he focused on statistical machine learning, capital markets, and time series analysis.In our conversation, my co-host Katy Kaminski and I talk with Robert about how he has used these skills to redesign AlphaSimplex’s performance analytics infrastructure and develop smarter machine learning processe

Apr 14, 2018 • 35:19

TTU98: Adapting to the Ever Changing Markets ft. Marty Bergin of DUNN Capital – 2of2

TTU98: Adapting to the Ever Changing Markets ft. Marty Bergin of DUNN Capital – 2of2

Katy Kaminski and I continue our conversation with Marty Bergin, and discuss his philosophy behind DUNN Capital’s success, and why many investors don’t understand trend following strategies. In this episode, we will discuss what investors and trend followers should be focusing on, and what risks excessive regulation may lead to for the industry.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You

Mar 2, 2018 • 38:10

TTU97: Putting Your Clients First...Always ft. Marty Bergin of DUNN Capital – 1of2

TTU97: Putting Your Clients First...Always ft. Marty Bergin of DUNN Capital – 1of2

Our guest today is the President and Owner of DUNN Capital. Having a deep background in finance and business management, Marty oversees all mission-critical operations of the firm, including the firm’s research and development efforts as well as the construction and management of the firm’s managed futures portfolios.In our conversation, my co-host Katy Kaminski and I discuss with Marty DUNN Capital’s client-first business model, why he believes that their Adaptive Risk Profile has been a game-c

Feb 25, 2018 • 32:35

RT13: The legacy of AHL ft. Adam, Harding & Lueck of AHL – 3of3

RT13: The legacy of AHL ft. Adam, Harding & Lueck of AHL – 3of3

On this special episode, my guests are the founders of AHL: Michael Adam who later co-founded Aspect Capital, David Harding also known as founder and CEO of Winton Capital and Marty Lueck also one of the co-founders of Aspect Capital.We sat down in the famous Abbey Road Studios in London to talk about how they developed their investing strategies, some of the most surprising decisions they ever made, and what kind of legacy they would like to leave behind.-----EXCEPTIONAL RESOURCE: Find Out

Sep 1, 2017 • 33:00

RT12: You don't have to be good...but you have to be useful ft. Adam, Harding & Lueck of AHL – 2of3

RT12: You don't have to be good...but you have to be useful ft. Adam, Harding & Lueck of AHL – 2of3

On this special episode, I continue my conversation with the founders of AHL: Michael Adam who later co-founded Aspect Capital, David Harding also known as founder and CEO of Winton Capital and Marty Lueck also one of the co-founders of Aspect Capital.We sat down in the famous Abbey Road Studios in London to talk about what AHL’s founders did after they created the company, what they’ve learned along the way about business and life, and how they view the current market climates.-----EXCEPTI

Aug 25, 2017 • 42:34

RT11: AHL 30 Year Anniversary ft. Michael Adam, David Harding & Marty Lueck – 1of3

RT11: AHL 30 Year Anniversary ft. Michael Adam, David Harding & Marty Lueck – 1of3

I was thrilled to be joined by the founders of AHL, to celebrate their 30 year anniversay of founding AHL: Michael Adam who later co-founded Aspect Capital, David Harding also known as founder and CEO of Winton Capital and Marty Lueck also one of the co-founders of Aspect Capital.We sat down in the famous Abbey Road Studios in London to talk about AHL’s beginnings, the revolutionary discoveries that AHL made, how MAN Group became the owner of AHL, as well as all the great things that Michae

Aug 18, 2017 • 44:25

RT10: The challenge pension funds face with Risk Mitigation ft. Ryan Abrams, Ela Karahasanoglu & Carrie Lo – 2of2

RT10: The challenge pension funds face with Risk Mitigation ft. Ryan Abrams, Ela Karahasanoglu & Carrie Lo – 2of2

On this episode I continue my conversation Ryan Abrams, Portfolio Manager at Wisconsin Alumni Research Association, Ela Karahasanoglu, VP at Workplace Safety and Insurance Board, and Carrie Lo, Director of Hedge Strategies at CalSTRS.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:When do you stop adding more managers?Ela’s magic range of managersCarrie’s approach to

Jul 14, 2017 • 35:14

RT09: Why & How CalSTERS mitigate Risk ft. Ryan Abrams, Ela Karahasanoglu & Carrie Lo – 1of2

RT09: Why & How CalSTERS mitigate Risk ft. Ryan Abrams, Ela Karahasanoglu & Carrie Lo – 1of2

On this episode my very special guests are Ryan Abrams, Portfolio Manager at Wisconsin Alumni Research Association, Ela Karahasanoglu, VP at Workplace Safety and Insurance Board, and Carrie Lo, Director of Hedge Strategies at CalSTRS, for a fun and insightful conversation about how to mitigate the Risk in a Portfolio using Managed Futures.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Epi

Jun 25, 2017 • 40:53

RT08: Two Turtles & their Mentor ft.  Richard Dennis, Brian Proctor & Jerry Parker – 2of2

RT08: Two Turtles & their Mentor ft. Richard Dennis, Brian Proctor & Jerry Parker – 2of2

On this episode my guests are Richard Dennis, creator of the Turtle program, Brian Proctor, managing director of EMC Capital Advices, and Jerry Parker, founder and president of Chesapeake Capital, for a rare conversation about the inner workings of the Turtle program, told for the first time by Richard himself.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:The good and bad of targe

May 9, 2017 • 36:18

RT07:  The Turtle Reunion ft. Richard Dennis, Brian Proctor & Jerry Parker – 1of2

RT07: The Turtle Reunion ft. Richard Dennis, Brian Proctor & Jerry Parker – 1of2

Today I'm joined by Richard Dennis, creator of the Turtle program, Brian Proctor, managing director of EMC Capital Advices, and Jerry Parker, founder and president of Chesapeake Capital, for a rare conversation about the inner workings of the Turtle program, told for the first time by Richard himself.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Rich’s first introduction to trend

Apr 17, 2017 • 37:42

RT06: The future of hedge funds ft. Chris Solarz, Adam Duncan & Freeman Wood – 2of2

RT06: The future of hedge funds ft. Chris Solarz, Adam Duncan & Freeman Wood – 2of2

We are back with another great conversation where my guests are Chris Solarz, Managing Director, Global Macro Hedge Fund Strategies at Cliffwater, Adam Duncan, Managing Director at Cambridge Associates as well as Freeman Wood, who is a Partner and Head of North America, at Mercer, for a deep dive into the world of Consultants in Alternative Investments.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode,

Mar 23, 2017 • 38:32

RT05: What Consultants look for in a manager ft. Chris Solarz, Adam Duncan & Freeman Wood – 1of2

RT05: What Consultants look for in a manager ft. Chris Solarz, Adam Duncan & Freeman Wood – 1of2

My guests today are Chris Solarz, Managing Director, Global Macro Hedge Fund Strategies at Cliffwater, Adam Duncan, Managing Director at Cambridge Associates as well as Freeman Wood, who is a Partner and Head of North America, at Mercer, for a fun and insightful conversation into the world of Consultants and their role in Alternative Investments.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, Yo

Mar 7, 2017 • 41:00

RT04: What is the right fee structure? ft. Marty Bergin, Grant Jaffarian & Mike Boss – 2of2

RT04: What is the right fee structure? ft. Marty Bergin, Grant Jaffarian & Mike Boss – 2of2

On this episode I continue my conversation with Marty Bergin, the owner and President of DUNN Capital Management, Grant Jaffarian, Portfolio Manager of the Advanced Trend program at Crabel Capital Management, and Mike Boss, who is a Director within the Capital Introductions Team at Societe General, where we cover all things trend following and some of the differences to short-term trading.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE N

Feb 19, 2017 • 31:06

RT03: The challenge with Experience ft. Marty Bergin, Grant Jaffarian & Mike Boss – 1of2

RT03: The challenge with Experience ft. Marty Bergin, Grant Jaffarian & Mike Boss – 1of2

Today I'm joined by Marty Bergin, the owner and President of DUNN Capital Management, Grant Jaffarian, Portfolio Manager of the Advanced Trend program at Crabel Capital Management, and Mike Boss, who is a Director within the Capital Introductions Team at Societe General, for a fun and insightful journey into the world of Trend Following.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Lear

Feb 5, 2017 • 33:54

RT02: The biggest challenge for institutions ft. Amy Elefante Bedi, Ernest Jaffarian & Phil Hatzopoulos – 2of2

RT02: The biggest challenge for institutions ft. Amy Elefante Bedi, Ernest Jaffarian & Phil Hatzopoulos – 2of2

Today I continue my conversation with Amy Elefante Bedi, Director of Hedged Strategies at Washington University Investment Management Company in St. Louis, Ernest Jaffarian, the CEO of Efficient Capital Management as well Phil Hatzopoulos , who is the Global Head of Buyside Sales at the CME Group.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:What the response has been to lower per

Jan 16, 2017 • 24:42

RT01: How to find talented managers ft. Amy Elefante Bedi, Ernest Jaffarian & Phil Hatzopoulos – 1of2

RT01: How to find talented managers ft. Amy Elefante Bedi, Ernest Jaffarian & Phil Hatzopoulos – 1of2

On this episode I'm joined by Amy Elefante Bedi, Director of Hedged Strategies at Washington University Investment Management Company in St. Louis, Ernest Jaffarian, the CEO of Efficient Capital Management as well Phil Hatzopoulos , who is the Global Head of Buyside Sales at the CME Group - to explore the world of Alternative Investments and why they are so valuable to investors.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE N

Jan 4, 2017 • 26:47

TTU96: The Simplicity of Trend Following ft. Katy Kaminski, Alex Greyserman & Roberto Osorio – 2of2

TTU96: The Simplicity of Trend Following ft. Katy Kaminski, Alex Greyserman & Roberto Osorio – 2of2

Thanks for tuning in to the second part of our roundtable conversation with three of the leading voices in the trend following industry today. In this episode, we discuss how the industry has evolved, what the future looks like, and how to educate investors on the merits of trend following.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How has trend following evolved in the pa

May 19, 2016 • 42:07

TTU95: Redefining Trend Following ft. Katy Kaminski, Alex Greyserman & Roberto Osorio – 1of2

TTU95: Redefining Trend Following ft. Katy Kaminski, Alex Greyserman & Roberto Osorio – 1of2

Thanks for tuning back into our show, we know it has been a while since we’ve published an episode. However, you are in for a real treat: this is the first episode where we have a roundtable of guests, representing some of the most prominent firms in the trend following space. Our guests have a combined 100 years of track record, and we’ll explore it all in this episode.We discuss the history of trend following, what it takes to practice trend following, and the human biases that effect our trad

May 6, 2016 • 54:19

TTU94: Acknowledging Risk on a Daily Basis ft. Bill Dreiss of Dreiss Research Corporation – 2of2

TTU94: Acknowledging Risk on a Daily Basis ft. Bill Dreiss of Dreiss Research Corporation – 2of2

In our continued conversation with Bill Dreiss, we dive into why he built his model the way that he did, and how he deals with factors like risk, drawdowns, and investor relationships. You’ll discover what he has learned from the drawdowns he has gone through, how the market has changed since 2009, and what the future looks like for Dreiss Research.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode,

Feb 17, 2016 • 58:53

TTU93: Location Independence with Systematic Trading ft. Bill Dreiss of Dreiss Research Corporation – 1of2

TTU93: Location Independence with Systematic Trading ft. Bill Dreiss of Dreiss Research Corporation – 1of2

Bill Dreiss has been an early adopter from the very beginning. After going to MIT and Harvard, he wanted to form a business that would allow him to be location independent and allow him to surf, his life passion. Fortunately, systems trading found him.He bought a computer before individuals owned them, started a systems trading firm before almost any of them existed, and has been in business trading his own model fro more than 25 years. You’ll gain a career’s worth of knowledge in this fantastic

Feb 8, 2016 • 1:00:40

TTU92: Clear & Explainable Trend Models ft. Andreas Clenow of ACIES Asset Management – 2of2

TTU92: Clear & Explainable Trend Models ft. Andreas Clenow of ACIES Asset Management – 2of2

In our continued conversation with Andreas Clenow, we discuss the research and work that goes into making his trading model, how he deals with risk and drawdowns, and how he explains his models to potential investors. In this episode, we will dive into how clear and explainable a trading model should be, and what questions you should ask firms before investing in them.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder

Jan 25, 2016 • 1:02:50

TTU91: Keeping it Simple in Trend Following ft. Andreas Clenow of ACIES Asset Management

TTU91: Keeping it Simple in Trend Following ft. Andreas Clenow of ACIES Asset Management

Our guest today is a successful trader, businessman, and author. He is known for his books Following The Trend and Stocks on the Move, and after an impressive career at Reuters finance he moved on to ACIES Asset Management in Switzerland.In our conversation, we discuss trend following and the need to keep it simple, the mistakes that retail traders make, and how to start a new firm in this day and age.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio usin

Jan 18, 2016 • 1:08:25

TTU90: Why Diversification is Key ft. Robert Carver, Author & Trader – 2of2

TTU90: Why Diversification is Key ft. Robert Carver, Author & Trader – 2of2

In the second part of our conversation with Robert Carver, we dive into the specifics of his trading strategy, why he doesn’t trade full time, and what he thinks about the trend-following space in general.You’ll hear his thoughts on drawdowns, research teams, risk, and more. You won’t want to miss his insight and clear explanations of some of finance’s most complicated topics.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio

Dec 9, 2015 • 1:13:05

TTU89: Creating a Simple System & Sticking To It ft. Robert Carver, Author & Trader – 1of2

TTU89: Creating a Simple System & Sticking To It ft. Robert Carver, Author & Trader – 1of2

Robert Carver spends most of his book telling you that he is not a good trader. So why did he devote his life and a whole book to the subject?Because he believes in systematic trading; making a simple trading system and sticking to it.In this episode, we dive into his new book and explore why simplicity is the key, people think they are better traders than they are, and so much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Por

Dec 2, 2015 • 1:16:38

TTU88: The Importance of Explaining the Why ft. Andrew Baxter of Cambridge Capital Management – 2of2

TTU88: The Importance of Explaining the Why ft. Andrew Baxter of Cambridge Capital Management – 2of2

In this episode, we dive into the models and processes that Cambridge Capital and Andrew Baxter use to manage risk, research new ideas, and grow their business. We also talk about the importance for managers to explain why they do what they do, rather than just what they do.Listen in to learn more about the future of the managed futures industry and how to be successful in it.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio

Nov 22, 2015 • 1:12:23

TTU87: An Engineer Using Machine Learning to Trade ft. Andrew Baxter of Cambridge Capital Managment – 1of2

TTU87: An Engineer Using Machine Learning to Trade ft. Andrew Baxter of Cambridge Capital Managment – 1of2

Andrew Baxter worked at British Aerospace as an engineer before joining the investment management world. He still considers himself an engineer.Listen in to learn how he uses machine learning, why he keeps innovating, and how he started his own firm.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Why Andrew considers himself an engineerHow he went from engineer to investment managem

Nov 15, 2015 • 1:16:52

TTU86: Predictions on Crude Oil, Copper, War, Plus More on Cycles ft. David Gurwitz of Charles Nenner Research – 2of2

TTU86: Predictions on Crude Oil, Copper, War, Plus More on Cycles ft. David Gurwitz of Charles Nenner Research – 2of2

In this second part of our conversation, we dive into the specifics of how Charles Nenner and his team make their predictions, and what they predict in certain markets like Crude Oil, Copper, and Natural Gas. We also discuss the cycle of a major war at the beginning of each century, and David’s personal story of why he is just as curious today as the day he started.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Too

Jul 15, 2015 • 1:05:14

TTU85: The Cycles of Financial Markets ft. David Gurwitz of Charles Nenner Research – 1of2

TTU85: The Cycles of Financial Markets ft. David Gurwitz of Charles Nenner Research – 1of2

This episode has a unique and interesting guest, the kind we rarely have on this show. David Gurwitz does not trade in the financial markets, but provides predictions and research to many firms, including some we have interviewed. He looks at the cycles in financial markets. Keep an open mind during this episode and see what you can learn about Charles Nenner’s research methods, the start of their research business, and what predictions they have been correct on and which ones they missed.-----E

Jul 7, 2015 • 1:10:39

TTU84: Being Authentic & Transparent with Your Investors ft. Natasha Reeve-Gray of Altis Partners – 2of2

TTU84: Being Authentic & Transparent with Your Investors ft. Natasha Reeve-Gray of Altis Partners – 2of2

In this second part of our conversation, Natasha dives into the details of the trading model and portfolio of Altis Partners, her firm. We discuss how they approach risk management, and how they’ve dealt with drawdowns over the years. She also gives her take on the future of the managed futures industry, what advice she would give to emerging firm managers, and other lessons she has learned along the way.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfo

Jul 5, 2015 • 1:03:18

TTU83: Starting a Quant Firm from Scratch ft. Natasha Reeve-Gray of Altis Partners – 1of2

TTU83: Starting a Quant Firm from Scratch ft. Natasha Reeve-Gray of Altis Partners – 1of2

Our next guest left a well known trading firm in London to start a quantitative trading firm with 3 other partners. There’s a lot to be learned from her insights on starting a business, building a culture, and making it through the obstacles along the way. Listen in for our discussions on the startup phase and the current trading model.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn

Jun 29, 2015 • 1:07:47

TTU82: Simplicity vs. Complexity in Trading Models ft. Oliver Steinki of Evolutiqz – 2of2

TTU82: Simplicity vs. Complexity in Trading Models ft. Oliver Steinki of Evolutiqz – 2of2

In the second part of our conversation with the cofounder of Evolutiq, we dive into the firm’s trading strategy, how they manage risk, and what kinds of investors they seek. He also discusses tips for budding entrepreneurs and firm managers, and how he deals with explaining the complexity of his trading models.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:The details of Oliver’s p

Jun 8, 2015 • 59:34

TTU81: How A Serial Entrepreneur Built an Algorithmic Trading Firm ft. Oliver Steinki of Evolutiq – 1of2

TTU81: How A Serial Entrepreneur Built an Algorithmic Trading Firm ft. Oliver Steinki of Evolutiq – 1of2

Our next guest has started and invested in many companies, and is from an entrepreneurial background. First and foremost, he is concerned with running a business, but he also knew he wanted to be a portfolio manager from an early age. Hear the fascinating story of Oliver Steinki on this episode, as we dive into his new firm and the details behind his models and strategy.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builde

Jun 2, 2015 • 1:02:50

TTU80: Managing Your Emotional Capital ft. Mike Coleman of RCMA Asset Managementz – 2of2

TTU80: Managing Your Emotional Capital ft. Mike Coleman of RCMA Asset Managementz – 2of2

In the second part of our conversation with Mike Coleman, we explore the different commodity markets and how RCMA trades them, and look back at the drawdowns that Mike has gone through and what he has learned from them. We discuss risk, idea generation, and what it takes to build a successful firm.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How correlation plays an important rol

Apr 20, 2015 • 1:04:26

TTU79: The Romance of Trading Commodities ft. Mike Coleman of RCMA Asset Management – 1of2

TTU79: The Romance of Trading Commodities ft. Mike Coleman of RCMA Asset Management – 1of2

Our next guest lives in Singapore, where he founded a firm that trades in the commodity markets. In this episode, we trace his upbringing in the UK and his first job at Cargill to the start of his firm. We discuss the growth and downsizing periods he has gone through and how he builds a successful business.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Where Mike grew up and how hi

Apr 13, 2015 • 1:06:59

TTU78: If You Believe In Your Models, Never Deviate From Them ft. Kim Bang of Prolific Capital Markets – 2of2

TTU78: If You Believe In Your Models, Never Deviate From Them ft. Kim Bang of Prolific Capital Markets – 2of2

In our second part of this conversation, we dive into the details of the program that Kim runs. We discuss why it’s important to stick with your models, even in times of severe drawdowns, and how Kim views risk. He also talks about the books and people that have inspired him in his career.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:The details behind the program Kim runs.Wh

Mar 31, 2015 • 1:21:43

TTU77: Competing in the Long Tail of Managed Futures ft. Kim Bang of Prolific Capital Markets – 1of2

TTU77: Competing in the Long Tail of Managed Futures ft. Kim Bang of Prolific Capital Markets – 1of2

Kim Bang grew up with his father’s shipping industry in Denmark, and discovered a fascination of the managed futures industry. He went on to work for companies such as Bloomberg and AIG, before founding his current firm with his son. Listen to his story and find out what makes a firm that can compete in the managed futures industry.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How

Mar 24, 2015 • 1:24:18

TTU76: Why He Still Trades His Own Money ft. Barnaby Cardwell of Cardwell Investment Technologies – 2of2

TTU76: Why He Still Trades His Own Money ft. Barnaby Cardwell of Cardwell Investment Technologies – 2of2

In the second part of our conversation with Barnaby Cardwell, we dive into the details of his program, how he built his company, and what he thinks it takes to be a good manager of a trading firm.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:What indicators Barnaby considers more reliable.How he gets into a trade.How important is the position sizing?How much AUM his model can

Mar 5, 2015 • 52:27

TTU75: Competing in the Short Term Space ft. Barnaby Cardwell of Cardwell Investment Technologies – 1of2

TTU75: Competing in the Short Term Space ft. Barnaby Cardwell of Cardwell Investment Technologies – 1of2

Our next guest is a fund manager in the short-term space, and thus is distinct from many of the guests on this podcast. He discusses how he got into the financial markets from a young age, and why he decided to trade in the short term space in order to separate himself from the competition. Listen in for details into his program and how he started his hedge fund.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn

Mar 2, 2015 • 57:58

TTU74: 2015 Predictions for Currencies, Gold, Oil and More ft. Mahendra Sharma of Financial Astrology – 2of2

TTU74: 2015 Predictions for Currencies, Gold, Oil and More ft. Mahendra Sharma of Financial Astrology – 2of2

In this second episode with Mahendra, he dives into his predictions for 2015 and the next few years, detailing his thoughts on markets from currencies, gold and silver to oil and real estate markets. He discusses how he sees key geo-political events resolving or worsening in the years to come. You may gain advice and insight that will change how you trade and what you trade in the financial markets!-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using t

Feb 26, 2015 • 1:07:57

TTU73: He sees Dow Jones going to 32,000 ft. Mahendra Sharma of Financial Astrology – 1of2

TTU73: He sees Dow Jones going to 32,000 ft. Mahendra Sharma of Financial Astrology – 1of2

Welcome to an episode of Top Trader’s Unplugged unlike any other. We take a break from interviews with hedge fund managers and invite you into the fascinating world of financial astrology. Mahendra Sharma dedicates his astrology and predictions work exclusively on the financial markets, and has had an astonishing accuracy of predicting market events. Learn about his story, including his upbringing without electricity in his home, on this episode.-----EXCEPTIONAL RESOURCE: Find Out How to Build a

Feb 21, 2015 • 1:12:14

TTU72: Adding Value to Your System ft. Mike Shell of Shell Capital Management – 2of2

TTU72: Adding Value to Your System ft. Mike Shell of Shell Capital Management – 2of2

In the second part of our talk with Mike Shell, we delve into the specifics of his program and why most of his clients have 100% of their investments with his firm. He discusses backtesting, risk management, and the differences between purely systematic systems and systems with a discretionary element. Listen in for an inside look at this fascinating firm.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This E

Feb 12, 2015 • 1:11:41

TTU71: Why You Don’t Want Symmetry in Investing ft. Mike Shell of Shell Capital Management – 1of2

TTU71: Why You Don’t Want Symmetry in Investing ft. Mike Shell of Shell Capital Management – 1of2

Most trend following firms have clients that invest somewhere between 2 and 20% of their portfolio with that firm, but Mike Shell’s firm is different. His strategy is tailored to a specific customer, and almost all of his clients have their entire investment portfolios with his firm. We dive into the specifics of Shell Capital Management in this episode, and how Mike grew up in the southern United States with a military background to become the owner of his own firm.-----EXCEPTIONAL RE

Feb 9, 2015 • 1:10:51

TTU70: Market Intervention & The Effect on Trend Following ft. Marc Malek of Conquest Capital Group

TTU70: Market Intervention & The Effect on Trend Following ft. Marc Malek of Conquest Capital Group

In this year-end review, Marc Malek explains why intervention in the markets affects trend following, but also why trend following strategies are not long volatility strategies. He discusses 2014 from the point of view of his firm, how his program did, and why he is excited about 2015.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How 2014 treated Conquest Capital.How volatility sh

Feb 6, 2015 • 36:42

TTU69: Staying Agnostic in Your Allocation ft. Martin Lueck of Aspect Capital

TTU69: Staying Agnostic in Your Allocation ft. Martin Lueck of Aspect Capital

This year in review covers how Aspect Capital came out of 2014 with their best year ever as a company, and what they learned from the year. Martin Lueck discusses the events that made 2014 a roller coaster ride, as well as the importance of always staying agnostic in your allocation to different sectors.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Why 2014 was a roller coaster ri

Feb 4, 2015 • 35:59

TTU68: Keep The Long Term View in Mind When Investing ft. Mike Dever of Brandywine Asset Management

TTU68: Keep The Long Term View in Mind When Investing ft. Mike Dever of Brandywine Asset Management

On our next year-in-review, Mike Dever talks about how 2014 evolved for his firm and what they learned from the year. He discusses the changes they made to their program as well as the recent Swiss Franc move and what they learned from that. He also talks about why investors need to keep the long term view in mind when investing, and not re-evaluate the program every time the profits take a dip.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this

Feb 2, 2015 • 27:34

TTU67: Institutional Investors and CTAs: A Look Forward ft. Aref Karim of Quality Capital Management

TTU67: Institutional Investors and CTAs: A Look Forward ft. Aref Karim of Quality Capital Management

Aref Karim has been on the institutional investing side and the fund manager side for many years, so he has some great insights into how each group thinks and ways they can understand each other better. In this episode, Aref reviews 2014 from the perspective of QCM and discusses the research upgrades that the firm started to their program, and how they dealt with the events of the year, including the recent Swiss Franc move.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Pe

Jan 30, 2015 • 35:55

TTU66: Trade Innovation for the future ft. Luc van Hof of Capital Hedge

TTU66: Trade Innovation for the future ft. Luc van Hof of Capital Hedge

In this year-end review, Luc van Hof discusses what he learned from 2014 and how his firm innovated to create better gains for customers in 2015. He also talks about the Swiss Franc and why he was not trading it when the major move happened in 2015.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:The two programs that his firm trades.What kind of risk both of his programs take on.Wha

Jan 28, 2015 • 38:42

TTU65: Trend Following Offers Diversification & Risk Mitigation ft. Jerry Parker of Chesapeake Capital

TTU65: Trend Following Offers Diversification & Risk Mitigation ft. Jerry Parker of Chesapeake Capital

Jerry Parker takes us inside 2014 for his firm, and how his models reacted to the Swiss Franc move in January of 2015. He looks at the year and makes a case for trend following as an asset class, as well as highlights what we can learn from a year like 2014.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How the year ended up for Jerry’s firm.The date when his system started getting

Jan 26, 2015 • 35:22

TTU64: The Trader-less Hedge Fund ft. Dave Sanderson of KFL Capital Management

TTU64: The Trader-less Hedge Fund ft. Dave Sanderson of KFL Capital Management

In this year-end-review, we take a look at how 2014 might be seen many years into the future. Is this when “trader-less” systematic trading caught on? We take you into the workings of a 1-year-old trading technology company, how they succeeded, and where they are going in the future.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:It was their first year of trading under the public e

Jan 23, 2015 • 29:54

TTU63: Every Assumption Should Be Questioned ft. Nigol Koulajian of Quest Partners

TTU63: Every Assumption Should Be Questioned ft. Nigol Koulajian of Quest Partners

In this year-end-review, we discuss the year for CTAs and short term traders, as well as the recent collapse of the Euro/Swiss Franc peg and how that affected the models of Quest Partners. Nigol discusses his goals and thoughts for 2015 and reflects on a 2014 that saw his firm start two new strategies and take in new investment.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How Que

Jan 22, 2015 • 37:26

TTU62: Why Huge Market Shifts Are Great Reminders ft. Scot Billington of Covenant Capital Management

TTU62: Why Huge Market Shifts Are Great Reminders ft. Scot Billington of Covenant Capital Management

In this Year End Review, we discuss the major events and unexpected market trends in 2014 as well as the major Swiss Franc move at the start of 2015. Scot Billington discusses his firm’s performance what they learned from their losses and gains, and how they evolved their models. He also talks about why they were able to keep losses low in 2014.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You

Jan 21, 2015 • 44:08

TTU61: CTAs as Portfolio Diversifiers ft Peter Kambolin of Systematic Alpha Management

TTU61: CTAs as Portfolio Diversifiers ft Peter Kambolin of Systematic Alpha Management

Peter Kambolin comes from the short term CTA space, and thus has a different perspective than some of our previous guests for our Year in Review theme this month. He discusses how the events in Crimea and Russia shaped markets, how divergence played a role, and how his firm made small changes to models and even added a new product line in 2014.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’

Jan 20, 2015 • 37:24

TTU60: Understanding The Investor’s Perspective ft. Anders Lindell of IPM

TTU60: Understanding The Investor’s Perspective ft. Anders Lindell of IPM

How do clients understand a trading strategy so that they stick by the firm in hard times? How do investors make sense of when things go well for the CTA industry. We dive into these questions and more on this next episode, a year-in-review from Anders Lindell of IPM.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Why 2014 was a model-proving year for IPM.How relative bond trading w

Jan 19, 2015 • 28:01

TTU59: The Return of Volatility ft. Bastian Bolesta of Deep Field Capital

TTU59: The Return of Volatility ft. Bastian Bolesta of Deep Field Capital

Bastian Bolesta reviews 2014 and details the ups and downs of the year for his firm and the managed futures industry as a whole. In this episode, he discusses the start to the year that he wants to forget, the return of seemingly normal volatility, and the profitable 4th quarter.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How the first half of 2014 was a continuation of 2013 for

Jan 16, 2015 • 34:24

TTU58: Having the Discipline to Stay The Course ft. Chris Cruden of Insch Capital Management

TTU58: Having the Discipline to Stay The Course ft. Chris Cruden of Insch Capital Management

Our next Year-in-Review conversation comes from a manager who considers 2014 to have been a disappointing year for his firm. As a trend follower in the currency markets, Chris has unique insights into what shaped 2014 and how the next couple of years look for his industry. He also shares the importance of having discipline and sticking to your systematic models, which builds investor confidence.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using

Jan 15, 2015 • 36:25

TTU57: Why The Market Environment Looks Exciting For CTAs ft. Tim Pickering of Auspice Capital Advisors

TTU57: Why The Market Environment Looks Exciting For CTAs ft. Tim Pickering of Auspice Capital Advisors

Our next year-in-review is from a recent guest who discusses the roller coaster feel to 2014, and why it was a good year for the CTA industry. He talks about what his firm learned from 2014 and why he is very excited about this year.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:The ups and downs of 2014 from Tim’s perspective.What markets contributed most for his firm during the y

Jan 14, 2015 • 31:10

TTU56: How to Educate Your Clients on Managed Futures ft. Karsten Schroeder of Amplitude Capital

TTU56: How to Educate Your Clients on Managed Futures ft. Karsten Schroeder of Amplitude Capital

In this 2014 year-in-review, Karsten Shroeder looks at the CTA industry and give some advice on how to look at 2014 with a rational and objective eye. He also has insights into how 2015 will be for the CTA industry and how to educate more clients to the advantages of managed futures.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How the year evolved for Amplitude and it’s strategie

Jan 13, 2015 • 27:13

TTU55: Talking the Pulse on Long-Term Trend Following ft. Jason Gerlach of Sunrise Capital

TTU55: Talking the Pulse on Long-Term Trend Following ft. Jason Gerlach of Sunrise Capital

For January 2015, we will be revisiting with previous guests on the show to find out how their businesses grew and changed in 2014, and what the year was like overall for their industries.In our first Year-In-Review episode, Jason Gerlach, the first-ever guest of Top Traders Unplugged, looks at 2014 from a long-term trend following perspective.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’

Jan 12, 2015 • 41:16

TTU54: What it Takes to Be an Entrepreneur ft. Tim Pickering of Auspice Capital Advisors – 2of2

TTU54: What it Takes to Be an Entrepreneur ft. Tim Pickering of Auspice Capital Advisors – 2of2

In the second part of our talk with Tim Pickering, we dive into the details of his firm and the challenges that he has to overcome as a business owner and entrepreneur. Tim has some valuable life lessons for managers who are just getting started. He also dives into the different ways investors should carry out their due diligence and why he wanted to become a manager in the first place.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW

Dec 29, 2014 • 1:04:15

TTU53: Trend Following vs. Trend Capturing ft. Tim Pickering of Auspice Capital Advisors – 1of2

TTU53: Trend Following vs. Trend Capturing ft. Tim Pickering of Auspice Capital Advisors – 1of2

What is the difference between simply following a trend and capturing it? Why is growth not consistent and gradual and why do we want it to be?Learn answers to these questions and more in this week’s episodes. Niels chats with the founder of a seasoned trend-follower in Canada, who knew he wanted to go into the financial markets since his university days. His story of working for large investment banks to starting his own firm will inspire current managers and hopeful managers alike.-----EX

Dec 22, 2014 • 1:05:36

TTU52: Do Amazing Things Just By Showing Up ft. Rob Hartman of Pacific Capital Advisors – 2of2

TTU52: Do Amazing Things Just By Showing Up ft. Rob Hartman of Pacific Capital Advisors – 2of2

Rob Hartman knows that showing up is half the battle when it comes to work in any industry. But his viewpoint as a solo fund manager give us deep insight into the inner-workings of a firm and how it deals with drawdowns, track record, and investors’ questions. In Part 2 of our conversation with Rob, we dive into his models and programs and how each of them works. We also learn about Rob’s background that helps round out this picture of a successful manager.-----EXCEPTIONAL RESOURCE: Find Out How

Dec 18, 2014 • 1:12:17

TTU51: Planning for Failure, Not Planning to Fail ft. Rob Hartman of Pacific Capital Advisors – 1of2

TTU51: Planning for Failure, Not Planning to Fail ft. Rob Hartman of Pacific Capital Advisors – 1of2

In starting any business, you run into unexpected roadblocks and challenges, and you learn something from each mistake. Our next guest is the founder of a trading firm who has grown his business twice and learned how to overcome the barriers in his way. We can learn a lot from someone who is ready for the unexpected whether it is good or bad.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, Y

Dec 15, 2014 • 1:13:14

TTU50: Why Optimism is Important ft. Dave Sanderson of KFL Capital Management – 2of2

TTU50: Why Optimism is Important ft. Dave Sanderson of KFL Capital Management – 2of2

Welcome to Part 2 of our conversation with Dave Sanderson. In this episode we explore his trading program in detail, from the markets the firm trades to how they describe their program to investors. We also explore the challenges that he goes through as a business leader, dealing with drawdowns, and why optimism is so important to Dave.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn

Dec 4, 2014 • 1:14:01

TTU49: Will Big Data Enable KFL to Predict the Future? ft. Dave Sanderson of KFL Capital Management – 1of2

TTU49: Will Big Data Enable KFL to Predict the Future? ft. Dave Sanderson of KFL Capital Management – 1of2

Our next guest on Top Traders Unplugged is the CEO and Co-Founder of KFL. In this episode we explore their trading strategy and uncover the fundamental differences between what they are doing that makes them so different from traditional alternative investment organizations.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Transitioning from commercial litigation to wholesal

Dec 1, 2014 • 1:15:11

TTU48: How to Understand a New Manager’s Track Record ft. Bastian Bolesta of Deep Field Capital – 2of2

TTU48: How to Understand a New Manager’s Track Record ft. Bastian Bolesta of Deep Field Capital – 2of2

In the second part of our interview with Bastian, we talk about the ins and outs of his trading program and how they came to create the current trading system that they run now. Niels talks with Bastian about drawdowns, risk management, and how investors should read and understand a manager’s track record. Listen in to find out more about Deep Field Capital and learn what it takes to be an successful emerging manager today.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Per

Nov 27, 2014 • 1:20:04

TTU47: How to Start Managing Client Capital ft. Bastian Bolesta of Deep Field Capital – 1of2

TTU47: How to Start Managing Client Capital ft. Bastian Bolesta of Deep Field Capital – 1of2

The story of Deep Field Capital’s Founder and CEO is an interesting one. Bastian Bolesta met his future partners whilst spending a semester abroad in China before returning to Germany and then moving to Switzerland to join them. The team also moved from the discretionary trading space to a unique way of systematic trading. Deep Field is a relative newcomer to the industry as they don’t have a 20+ year track record, so our conversation has timely insights for those looking to start a firm and beg

Nov 24, 2014 • 1:23:15

TTU46: The Benefits of Negative Correlation ft. Roy Niederhoffer of R. G. Niederhoffer Capital Management – 2of2

TTU46: The Benefits of Negative Correlation ft. Roy Niederhoffer of R. G. Niederhoffer Capital Management – 2of2

In our continued conversation with Roy Niederhoffer, we discuss risk management, drawdowns, why negative correlation is so important to Roy, and what gets him out of bed every morning (and what keeps him awake at night). Learn more about how to create a balanced and diversified portfolio or what it takes to be a manager.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:What has change

Nov 20, 2014 • 1:23:52

TTU45: How To Overcome Cognitive Bias in Investing & Trading ft. Roy Niederhoffer of R. G. Niederhoffer Capital Management – 1of2

TTU45: How To Overcome Cognitive Bias in Investing & Trading ft. Roy Niederhoffer of R. G. Niederhoffer Capital Management – 1of2

Roy Niederhoffer has a fascinating live story that starts with Harvard and neuroscience and continues into his starting a hedge fund in the short-term trading space in 1993. Roy discusses the exciting and bootstrapping beginnings of his firm, the cognitive biases that keep most humans from making good investment decisions, and how his firm stands out from other CTAs. Investors and managers alike will learn a wealth of information from this episode.-----EXCEPTIONAL RESOURCE: Find Out How to Build

Nov 17, 2014 • 1:18:39

TTU44: Buy Low & Sell High: Is It Really That Easy? ft. Mark Whitmore of Whitmore Capital Management – 2of2

TTU44: Buy Low & Sell High: Is It Really That Easy? ft. Mark Whitmore of Whitmore Capital Management – 2of2

In the second part of our conversation with the founder of Whitmore Capital Management, we learn the daily challenges, and lessons learned right from the founder and owner of a fledgling firm. We dive into discussions on risk management, drawdown, attracting outside capital, and much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How many currencies Mark trades and i

Nov 13, 2014 • 1:23:30

TTU43: The Case For Currencies As An Asset Class ft. Mark Whitmore of Whitmore Capital Management – 1of2

TTU43: The Case For Currencies As An Asset Class ft. Mark Whitmore of Whitmore Capital Management – 1of2

Our next guest started his firm back in 2012, and we’re talking to him at a special moment in the company’s evolution as it starts to gain outside capital and make its mark in the industry. Listen in to gain insights into how a manager started his firm in the current environment, the inside view on currencies as an asset class, and much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll

Nov 10, 2014 • 1:22:42

TTU42: Why You Need this Trading Strategy TODAY ft. Kathryn Kaminski of AlphaSimplex – 2of2

TTU42: Why You Need this Trading Strategy TODAY ft. Kathryn Kaminski of AlphaSimplex – 2of2

Welcome to Part 2 of our conversation with researcher and co-author of one of the definitive books on trend following. In this conversation, we dive into the the models that she used in writing the book, as well as her thoughts regarding risk management, what you should be asking a manager during due diligence, and what the future holds for the managed futures industry.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder

Nov 6, 2014 • 1:05:50

TTU41: Trend Following Expert Explains All ft. Kathryn Kaminski of AlphaSimplex – 1of2

TTU41: Trend Following Expert Explains All ft. Kathryn Kaminski of AlphaSimplex – 1of2

Our next guest is different than any guest we’ve had before, as she is not a fund manager but has spent much of her life’s work researching and writing about the topic of trend following. She is a true thought leader in the managed futures industry and you’ll learn a lot from the animated discussion we have regarding the history of trend following and how she co-authored her latest book on the subject.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio usin

Nov 3, 2014 • 1:08:28

TTU40: What To Do If You Are Making Too Much Money! ft. Mike Harris of Campbell & Company – 2of2

TTU40: What To Do If You Are Making Too Much Money! ft. Mike Harris of Campbell & Company – 2of2

Welcome to Part 2 of our conversation with Managed Futures expert and President Mike Harris of Campbell & Company. In this episode we delve into the specifics of Campbell & Company’s trading programs, how models are added or removed, and the importance of risk management. This episode also explores the managed futures industry as a whole and is a must-hear for anyone looking to gain knowledge about this strategy.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Perfor

Oct 30, 2014 • 1:09:39

TTU39: President of Famous CTA Firm Tells All ft. Mike Harris of Campbell & Company – 1of2

TTU39: President of Famous CTA Firm Tells All ft. Mike Harris of Campbell & Company – 1of2

This episode goes in-depth into the history of one of the most well-known managed futures firms in the world, Campbell & Company. We explore the beginnings of the company, how they have dealt with challenges a long the way and how they have succeeded to overcome them, as well as the current state of the company and the systematic models their products are built on. Our guest is current President of the company, Mike Harris, and you’ll hear about how he entered the industry as well as hi

Oct 27, 2014 • 1:09:51

TTU38: The Real Secret Behind Trend Following & How It Works ft. Martin Lueck of Aspect Capital – 2of2

TTU38: The Real Secret Behind Trend Following & How It Works ft. Martin Lueck of Aspect Capital – 2of2

In the second part of our conversation with AHL founder and Aspect Capital Director, we dive into the details of his firm’s strategies and models. We explore how the models evolve, how he deals with risk management, and his advice for would-be fund managers. Investors and managers alike will gain deep knowledge from this episode.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How th

Oct 9, 2014 • 1:08:42

TTU37: How to Build a Multi-Billion$ Trend-Following Firm ft. Martin Lueck of Aspect Capital – 1of2

TTU37: How to Build a Multi-Billion$ Trend-Following Firm ft. Martin Lueck of Aspect Capital – 1of2

In this episode, we get an exciting behind-the-scenes story of one of the most famous systematic trading firms of its time, AHL. Our guest is one of the firms founders and takes us from the company’s birth to its acquisition by Man Group. We also discuss how he started his next company, Aspect Capital, how he creates his trading models, and how to build and run a successful multi-billion trend-following firm. This episode is full of insights and stories that you won’t hear elsewhere.-----EXCEPTI

Oct 6, 2014 • 1:09:55

TTU36: A Look inside a Currency Trading Firm ft. Chris Cruden of Insch Capital Management – 2of2

TTU36: A Look inside a Currency Trading Firm ft. Chris Cruden of Insch Capital Management – 2of2

In Part 2 of our conversation with the CEO of Insch Capital Management, we talk about how the firm’s trading models work and how they were built. We discuss how Insch deals with drawdowns, increased regulation, and marketing. This is a truly in-depth episode into the mind of a hedge fund Founder and the inner workings of an Alternative investment firm.Welcome to the second part of our conversation with Chris Cruden.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing

Oct 2, 2014 • 1:05:30

TTU35: The Advantages of Being a Systematic Trader ft. Chris Cruden of Insch Capital Management – 1of2

TTU35: The Advantages of Being a Systematic Trader ft. Chris Cruden of Insch Capital Management – 1of2

Our next guest was a British Army Officer and moved to South Africa before finding a career in the financial markets. He is now the CEO of his Managed Futures firm and has worked with some of the industry’s most influential companies and people, including Dean Witter and AHL. The story of his career’s beginnings and the lessons he used to become a systematic trend follower are unique and insightful. You’re sure to learn a lot from this episode.-----EXCEPTIONAL RESOURCE: Find Out How to Build a S

Sep 29, 2014 • 1:10:04

TTU34: The Art of Risk Management ft. Luc Van Hof of Capital Hedge – 2of2

TTU34: The Art of Risk Management ft. Luc Van Hof of Capital Hedge – 2of2

In the second part of our interview with hedge fund founder Luc Van Hof, we dive into the philosophy and creation behind his trading models. We also discuss why he is a risk averse person, what hobbies help him stay focused at work, and what investors and fund managers can do to grow their business and trade smarter.Welcome to Part 2 of our conversation with Luc Van Hof.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builde

Sep 25, 2014 • 1:22:15

TTU33: Options Trading: A Dangerous Animal? ft. Luc Van Hof of Capital Hedge – 1of2

TTU33: Options Trading: A Dangerous Animal? ft. Luc Van Hof of Capital Hedge – 1of2

Our next guest worked for the European Commission before starting his own firm. In an unusual career twist, he sold his company to a larger firm only to buy it back from them a few years later and had to start from scratch. Learn about his aversion to risk, his short term trading strategies, and his interesting past as one of the fastest readers in the world.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn Thi

Sep 22, 2014 • 1:19:17

TTU32: The Most Misunderstood Stats That You Can Use ft. Marc Malek of Conquest Capital Group – 2of2

TTU32: The Most Misunderstood Stats That You Can Use ft. Marc Malek of Conquest Capital Group – 2of2

In the second part of our conversation with Marc Malek, we explore the strategies that he uses to build his models and how he explains them in simple terms. We go in depth about drawdowns and what investors should know about them. We also discuss what keeps Marc inspired, what he does for fun, and how he couldn’t imagine having any other job.Welcome back to Part 2 of our conversation with Marc Malek.In This Episode, You’ll Learn:About the four strategies inside Conquest Capital’s Macro program.H

Sep 18, 2014 • 1:05:31

TTU31: Why Investors Should Not be Worried ft. Marc Malek of Conquest Capital Group – 1of2

TTU31: Why Investors Should Not be Worried ft. Marc Malek of Conquest Capital Group – 1of2

This guest had a different path that eventually led to owning a hedgefund in New York. Marc Malek got a grant from NASA to study how different armored tank positions would lead to winning results on the battlefield. Traveling to Wisconsin to begin his research, his advisor steered him to do a similar project on stocks, bonds, and equities instead. He went on to work for UBS and finally founded his own firm, Conquest Capital Group. His story will fascinate and inspire you.-----EXCEPTIONAL RESOURC

Sep 15, 2014 • 1:13:10

TTU30: Don’t Tweak Your Models! ft. Aref Karim of Quality Capital Management – 2of2

TTU30: Don’t Tweak Your Models! ft. Aref Karim of Quality Capital Management – 2of2

Welcome back to the second part of our discussion with Aref Karim. In this episode, Aref discusses his firm’s strategies and the broader philosophies that drives what he does. He also talks about market volatility, the need to innovate while keeping models intact, his perspective on drawdowns, and what investors should be asking their managers. You’ll learn something about the art galleries and music that fuels his inspiration, and what he thinks it takes to become a successful hedge fund manage

Sep 11, 2014 • 1:08:38

TTU29: How the largest investor in Hedge Funds got Started ft. Aref Karim of Quality Capital Management – 1of2

TTU29: How the largest investor in Hedge Funds got Started ft. Aref Karim of Quality Capital Management – 1of2

How do you transition from working alongside the capital management industry to starting your own hedge fund? Our next guest grew up in Bangladesh but fled to London during the Bangladesh Liberation War in 1971. He worked as an accountant and then went on to join the Abu Dhabi Investment Authority (ADIA) where he pioneered the organization’s futures investment department. Learn about his personal setbacks and successes, his innovative investment strategies, and how he founded Quality Capita

Sep 8, 2014 • 1:09:48

TTU28: How to Bridge the Gap Between Philosophy & Rules ft. Scott Foster of Dominion Capital Management – 2of2

TTU28: How to Bridge the Gap Between Philosophy & Rules ft. Scott Foster of Dominion Capital Management – 2of2

Welcome back to the second part of our interview with Scott Foster, President and Founder of Dominion Capital Management.In this episode, we learn the philosophical rules that drive his firm, and how he bridges the gap between the philosophy behind his decisions and the models he creates. We discuss the increased governmental involvement in the markets and the adjustments that Scott has had to make to adapt to new signals. Finally, we learn the personal habits that help Scott succeed. Thank you

Sep 4, 2014 • 1:26:06

TTU27: Magician-turned Trader: “Reality Doesn’t Matter” ft. Scott Foster of Dominion Capital Management – 1of2

TTU27: Magician-turned Trader: “Reality Doesn’t Matter” ft. Scott Foster of Dominion Capital Management – 1of2

Our next guest was a philosophy major and a magician before he ever considered trading in the stock market. In Part 1 of our talk, he describes how philosophy and psychology determine his firm’s decisions and the story of how he started trading in a small town in Pennsylvania.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:On the 20th Anniversary of Scott’s firm, he looks back on ho

Sep 1, 2014 • 1:22:39

TTU26: The Most Repeatable Trading Method Ever Invented ft. Scot Billington – 2of2

TTU26: The Most Repeatable Trading Method Ever Invented ft. Scot Billington – 2of2

Welcome back to the second part of our interview with Scot Billington of Covenant Capital Management.In this episode, Scot delves into the practice of trend following and why it is a great model to follow. He also discusses tips for beginning traders and investors, and advice for those who wants to start a firm. Thank you for listening to Part 2 of our conversation with Scot Billington.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW

Aug 28, 2014 • 1:08:51

TTU25: Why a Mechanical, Long-Term Trend Approach is Best ft. Scot Billington – 1of2

TTU25: Why a Mechanical, Long-Term Trend Approach is Best ft. Scot Billington – 1of2

Our next guest takes a mechanical, long-term trend approach to trading to a new level, and you’ll find out why he thinks it is the better option in this episode. He started Covenant Capital with his business partner in 1999 and has grown it into a profitable boutique firm. But in early 2002 after they ended the previous year down 20%, they really had to grind it out and stick to their guns which ultimately paid off in a big way.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Bette

Aug 25, 2014 • 1:23:13

TTU24: What it Takes to be a Great Hedge Fund Manager ft. Anders Lindell of IPM – 2of2

TTU24: What it Takes to be a Great Hedge Fund Manager ft. Anders Lindell of IPM – 2of2

Welcome back to the second part of our interview.In this episode we dive into the negative effect of greed on the market. Anders Lindell again shows his depth of knowledge as he elaborates on the nature of irrationality though the ages and how our markets today, really are rather stretched. This is a powerful episode, I really do hope you will enjoy it.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This

Aug 21, 2014 • 1:13:38

TTU23: Former CEO Reveals How to Thrive in a Challenging Market ft. Anders Lindell of IPM – 1of2

TTU23: Former CEO Reveals How to Thrive in a Challenging Market ft. Anders Lindell of IPM – 1of2

Our next guest turned a challenging market into an opportunity to transform his strategy and build something substantial.Welcome back to another episode of Top Traders Unplugged. Today we have the former CEO, now Chairman of Informed Portfolio Management on to discuss the road to formation of his firm, their Systematic Global Macro strategy, their unique approach to investor interaction and much much more.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Perfor

Aug 18, 2014 • 1:12:38

TTU22: The Most Important Question Investors Should be Asking ft. Nigol Koulajian of Quest Partners – 2of2

TTU22: The Most Important Question Investors Should be Asking ft. Nigol Koulajian of Quest Partners – 2of2

Did you know that a meditation practice can help you be a better investor?In this episode we discuss our common lessons that we ask all Top Traders, but we dive deep into why Nigol thinks differently about CTA issues. Growing up in war-torn Lebanon shifts the filters he uses to see the markets. We all have filters but in this episode you will learn what perspective he takes on the markets that may, or may not, support his market philosophy.Welcome back to the second half of our interview wi

Aug 14, 2014 • 1:13:08

TTU21: Building a Computer That Makes Money? ft. Nigol Koulajian of Quest Partners – 1of2

TTU21: Building a Computer That Makes Money? ft. Nigol Koulajian of Quest Partners – 1of2

Want to build a computer that makes money?Quest Partners LLC has a long, robust track record with their systematic trading approach.They utilize a different strategies from many of their peers and have diversified their product range to include equity programs both hedge and long only.At the core of it all is their philosophy on focusing on what investors need. They provide solutions for investors rather than a purist strategy.Leading the way is our next guest on Top Tra

Aug 11, 2014 • 1:09:28

TTU20: How to Identify Trades No One Else is Looking For ft. Roman Lutz of Future Value Capital – 2of2

TTU20: How to Identify Trades No One Else is Looking For ft. Roman Lutz of Future Value Capital – 2of2

How would it feel to identify trades no one else you know is looking for?Our guest is back and this interview is all about carry trades, mean reverting environments, merger arbitrage, volatility arbitrage, tail hedges and how to become the best trader possible. It’s quite likely there is something in this interview which will help propel you forward as a hedge fund manager or in your research of managers.Welcome back to the second part of our interview with Chief Excutive Officer of Future

Aug 7, 2014 • 1:01:20

TTU19: How to Take the Emotions out of Investment Decisions ft. Roman Lutz of Future Value Capital – 1of2

TTU19: How to Take the Emotions out of Investment Decisions ft. Roman Lutz of Future Value Capital – 1of2

Can you implement well established hedge fund strategies in a systematic way?Future Value Capital has been researching this for years, before they started trading. They are unique because of how they simplify and automate complex Risk Premia.But we aren’t the best at explaining their systems. Roman Lutz, the Chief Financial Officer of Future Value Capital will explain it all in this interview.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Po

Aug 4, 2014 • 1:02:56

TTU18: Estimating & Predicting Black Swans ft. Peter Kambolin of Systematic Alpha Management – 2of2

TTU18: Estimating & Predicting Black Swans ft. Peter Kambolin of Systematic Alpha Management – 2of2

Imagine if your assets under management went from $721 million to $50 million….Would you have the courage to stick with your system?Our next guest was able to weather that storm and come out even stronger. In fact, he gives credit to the fall in assets because it was an important component to improving their processes and efficiency today.We’re excite to share with you, the second part of my interview with CEO of Systematic Alpha Management, Peter Kambolin.-----EXCEPTION

Jul 31, 2014 • 1:00:51

TTU17: Start Your Own Firm at 21 Years of Age? Russian CEO Tells All ft. Peter Kambolin of Systematic Alpha Management – 1of2

TTU17: Start Your Own Firm at 21 Years of Age? Russian CEO Tells All ft. Peter Kambolin of Systematic Alpha Management – 1of2

Peter Kambolin is the common sense CEO behind Systematic Alpha Management, an Award Winning CTA Firm which has come through the tremendous market forces of the past 10 years. Their staying power is a testament to their success as conscious, ruled based traders.This episode is about his hero’s journey from immigrant origins in Moscow to founding a lasting, top financial service company headquartered in New York City.-----EXCEPTIONAL RESOURCE: Find Out How to Bui

Jul 28, 2014 • 1:05:07

TTU16: You Can’t Learn This In A Book! ft. Karsten Schroeder of Amplitude Capital – 2of2

TTU16: You Can’t Learn This In A Book! ft. Karsten Schroeder of Amplitude Capital – 2of2

Welcome back to Top Traders Unplugged. On this episode Karsten and I discuss the systems and implementation that has led Amplitude to such remarkable success. As the interview comes to a close, we learn about Karsten’s philosophy of success and entrepreneurship. Despite being based outside the global financial hubs (i.e. New York, Chicago, London) Amplitude has experienced world class results. He provides a deep philosophy on achieving success in the CTA industry.-----EXCEPTIONAL RESOU

Jul 24, 2014 • 44:47

TTU15: Model Decay & How Best to Handle It ft. Karsten Schroeder of Amplitude Capital – 1of2

TTU15: Model Decay & How Best to Handle It ft. Karsten Schroeder of Amplitude Capital – 1of2

Through courage and vision, Karsten Schroeder co-founded Amplitude Capital as a pioneer in the CTA industry.Why pioneers? Because they focused on short term trading.In this episode of Top Traders Unplugged, Karsten and I discuss Amplitude Capital’s scientific approach to Amplitude Dynamic and Amplitude Klassik. These are the two short-term rule based trading programs that Karsten and his team run to invest billions of dollars on behalf on a small group of institutional investors.-----E

Jul 21, 2014 • 46:41

TTU14: “You’re going to make a lot of money doing this…” ft. Jerry Parker – 2of2

TTU14: “You’re going to make a lot of money doing this…” ft. Jerry Parker – 2of2

Today we will continue our conversation with Jerry Parker the founder of Chesapeake Capital and widely known as the most successful Turtle ever.After wrapping up his position with Richard J. Dennis as a famous “Turtle,” he went on to start his own asset management firm, Chesapeake Capital Corporation.In this episode we discuss the evolving CTA industry and the story of Chesapeake. It’s a powerful story from one of the most successful people in the industry. We really hope you enjoy it.

Jul 16, 2014 • 1:07:59

TTU13: Lessons From the Most Successful Turtle of All-Time ft. Jerry Parker – 1of2

TTU13: Lessons From the Most Successful Turtle of All-Time ft. Jerry Parker – 1of2

Imagine you found an advertisement in the newspaper offering a position with a one sentence application process.Would you take it?What if it was for a position where you would learn a proprietary trading system in which you would trade solely for owner of the firm?What if that man was Richard Dennis?Our next guest took that position in 1983 and it changed his life forever, for the better. He found himself with what was to become a famous title, a Turtle. He was given the opportuni

Jul 13, 2014 • 1:07:22

TTU12: The Philosophy, Habits and Personal Traits Required to Excel in the Hedge Fund Industry ft. Mathias Bucher of AllMountainCapital – 2of2

TTU12: The Philosophy, Habits and Personal Traits Required to Excel in the Hedge Fund Industry ft. Mathias Bucher of AllMountainCapital – 2of2

Welcome back to Top Traders Unplugged. In this episode we continue our conversation with Dr. Mathias Bucher the Co-Founder of AllMountainCapital.In this episode we go deep in the philosophy, habits and personal traits required to excel in the hedge fund industry.It’s a pleasure to have you here and we hope you enjoy the episode.In This Episode, You’ll Learn:About Stop Loss, Risk Management and overall Exit StrategiesHow the current drawdown is effecting current testing and research at AllMo

Jul 10, 2014 • 46:56

TTU11: Lessons From a Highly Educated Founder & Fund Manager ft. Mathias Bucher of AllMountainCapital – 1of2

TTU11: Lessons From a Highly Educated Founder & Fund Manager ft. Mathias Bucher of AllMountainCapital – 1of2

Our next show provides you with the opportunity to learn from a highly educated founder and fund manager.He Studied Economics at the Luzon Universidad de Carlos III de Madrid. He went on to earn a PhD in Quantitative Finance in Evolutionary Finance at University of Zurich. Upon graduating he agreed to a research position with Zurich Capital Bank.Horizon21 made an offer to have Mathias and his business partner Dr. Tilman Keese build a systematic trading program. In 2010 they left H

Jul 7, 2014 • 46:06

TTU10: The Fairest Fee Structure in the Industry ft. Marty Bergin of DUNN Capital Management – 2of2

TTU10: The Fairest Fee Structure in the Industry ft. Marty Bergin of DUNN Capital Management – 2of2

What are you going to do to differentiate yourself from everyone else in the industry?That’s the question Marty Bergin would ask the next guest on Top Traders Unplugged.Welcome back for the second part of our interview with, Marty Bergin.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:How trade decisions are generated and executed at DUNN Capital ManagementThe way Marty and DUN

Jul 3, 2014 • 39:52

TTU09: 40+ Years of Trading & Still Making NEW Highs ft. Marty Bergin of DUNN Capital Management – 1of2

TTU09: 40+ Years of Trading & Still Making NEW Highs ft. Marty Bergin of DUNN Capital Management – 1of2

Our next guest is a partner in a firm that has enjoyed 40+ years of trading success with a 35+ year continues track record of their WMA program.The track record of the organization, DUNN Capital Management, is world-class. The legendary Bill Dunn offered partnership to our next guest and he replied, “I’m happy with where I am.” Bill’s response will make you laugh.Please enjoy my conversation with, Marty Bergin.In This Episode, You’ll Learn:The Story of DUNN Capital and the Evoluti

Jun 29, 2014 • 39:44

TTU08: Key Traits to Success in the CTA Industry ft. Martin Estlander of Estlander & Partners – 2of2

TTU08: Key Traits to Success in the CTA Industry ft. Martin Estlander of Estlander & Partners – 2of2

Today we rejoin the conversation with Martin Estlander the Founder and CEO of Estlander & Partners. If you missed the first part, feel free to listen to it here.In this episode we explore the evolution of the CTA industry, the skills required to run a successful business and finally the fun, less known facts of Martin’s life outside of trading.Welcome to the second part of our conversations with Martin Estlander.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer &am

Jun 26, 2014 • 49:21

TTU07: Inside Scandinavia’s Longest Running CTA Firm ft. Martin Estlander of Estlander & Partners – 1of2

TTU07: Inside Scandinavia’s Longest Running CTA Firm ft. Martin Estlander of Estlander & Partners – 1of2

Estlander & Partners – The Oldest CTA firm in Scandinavia and one of the Longest Running CTA firms in the World. Thank you for listening to my conversation with its founder Martin Estlander. In This Episode, You’ll Learn:How Martin got involved in the CTA IndustryThe Evolution of Estlander & Partners and Where They are TodayFounding of an options trading business in Frankfurt in 1991About the inspiring time in which he was part of the Commodities Corp. team until 1998 when Goldman

Jun 22, 2014 • 49:38

TTU06: Why Trend Following Systems Make Money Over Time ft. Tushar Chande – 2of2

TTU06: Why Trend Following Systems Make Money Over Time ft. Tushar Chande – 2of2

We’re back with the second part of our conversation with the Head of Research at Rho Asset Management. In this episode we discuss the details of Managing Equity Curves, Trade Length in CTA systems and how Rho achieves to get the optimal position size when entering new trades.Thank you for visiting, now let’s continue the interview with Tushar Chande.In This Episode, You’ll Learn:How Rho creates for algorithms to decide the size of a new positionThe difference between the models in

Jun 12, 2014 • 40:55

TTU05: What You Must Do To Survive In the CTA Business ft. Tushar Chande – 1of2

TTU05: What You Must Do To Survive In the CTA Business ft. Tushar Chande – 1of2

On today’s show I am talking to Tushar Chande, Co-Founder and Head of Research at Rho Asset Management. Tushar is also the author of a number of books on the topic of how to design rule based trading systems as well as having been actively trading these systems for more than 20 years.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Why the random nature of the markets attracted

Jun 9, 2014 • 42:49

TTU04: What it Takes to Become a Great Trader ft. Mike Dever of Brandywine Asset Management – 2of2

TTU04: What it Takes to Become a Great Trader ft. Mike Dever of Brandywine Asset Management – 2of2

In this episode we continue our conversation with the founder and CEO of Brandywine Asset Management and discuss the aspects of what makes his rule based asset management style so successful.Enjoy the second part of my conversation with, Mike Dever.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Continuing the Conversation around why Trend Following can be more difficultDescrib

Jun 5, 2014 • 44:10

TTU03 How To Get Predictable Returns ft. Mike Dever of Brandywine Asset Management – 1of2

TTU03 How To Get Predictable Returns ft. Mike Dever of Brandywine Asset Management – 1of2

On today’s show I am talking to Mike Dever, the Founder and CEO of Brandywine Asset Management. Mike is a Divergent Thinking Systematic Investment Manager and Author of the best selling book “Jackass Investing”. Mike has been trading for almost 4 decades and shares a wealth of insight to how he has stayed successful and how his trading approach and research has stayed current in an ever changing financial landscape.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Perfo

Jun 2, 2014 • 58:44

TTU02: Why The Game of Picking Sectors is a Fool’s Errand ft. Jason Gerlach of Sunrise Capital Partners – 2of2

TTU02: Why The Game of Picking Sectors is a Fool’s Errand ft. Jason Gerlach of Sunrise Capital Partners – 2of2

Welcome back to our conversation with Jason Gerlach of Sunrise Capital Partners.In this interview we discuss the history of Sunrise Capital Partners, the current evolution in their financial product line and the inner workings of what it takes to make it as a successful trading organization in the ever changing market conditions.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You’ll Learn:Explor

May 29, 2014 • 1:02:42

TTU01: Are Research Ideas Overrated? ft. Jason Gerlach of Sunrise Capital Partners – 1of2

TTU01: Are Research Ideas Overrated? ft. Jason Gerlach of Sunrise Capital Partners – 1of2

Sunrise Capital was the first CTA (Commodity Trading Advisor) ever.The company has evolved considerably since its inception in the 1970s.Today on the show, Jason Gerlach, the Chief Executive Officer at Sunrise Capital joins us to discuss the history of the company and about the evolution of their trading strategy over nearly 4 decades. Sunrise has achieved astounding results over the lifetime of the company and Jason provides unique insights to the inner workings of Sunrise.-----EXCEPTIONAL RESO

May 26, 2014 • 37:54

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