Top Traders Unplugged

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 whether the FED is starting to lose control, safe assets and ways to preserve capital, cryptocurrencies, strength of the Dollar and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Joseph on Twitter .Episode TimeStamps: 00:00 - Intro03:13 - Joseph’s background06:34 - Shocking FED Announcement10:52 - Central Bank policies14:11 - Monetary policies and liquidity30:40 - Fed paper suggesting they don't know where Inflation comes from40:03 - The wider consequences45:45 - FED losing control?53:55 - Safe assets and crypto01:05:01 - What keeps Joseph up at night?01:09:52 - Thanks for listeningCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 ideas that just don’t work, different ways that ownership of a CTA passes on to a new owner, designing systems that gives you a high degree of consistency and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro06:32 - What has caught Jerry’s attention?13:34 - Q1, Sascha: The Richard Dennis “Pyramiding” methodology18:35 - Q2, Jeff: Jerry’s current positioning in single stocks23:10 - Q3, Louis: Parameter selection for different breakout systems32:16 - Q4, Adam & Scott: How to deal with a drastic fall in a market like LUNA41:49 - Q5, Carl: What doesn’t work in Trend Following?48:34 - Q6, Brian: How to pass on ownership of a CTA Business53:34 - Designing consistent Trend Following systems01:09:17 - Trend, trends and no diversification01:22:36 - Performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 calm and social unrest, whether China plans to invade Taiwan and what China has learned from the invasion of Ukraine, how the demographics of China and Russia can inhibit their power of action, how the lack of nuance contaminates the public debate and divides the population, the future of democracy and decline of autocracy, innovation and the jobs of tomorrow and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Pippa on Twitter .Episode TimeStamps: 00:00 - Intro05:26 - Out-sourcing & Off balance sheet government activities08:05 - Space warfare15:00 - Optimism in an unstable world20:00 - The Future of Western democracy25:10 - Money printing and its consequences27:55 - The Baltics and separating Germany from the Alliance33:52 - The prospects of China invading Taiwan46:40 - What we now know about COVID & the Risk of the FED making a huge mistake57:16 - Democracy in decline?01:11:14 - The jobs of tomorrow01:19:10 - Thanks for listeningResources discussed in this Episode:LINK: Pippa's SubstackCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 allocation, Sci-Fi vs. Fin-Fi and how the FED being behind the curve affects Trend Following, why bond vigilantes are back and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 - Intro04:15 - Inflation09:09 - Trend Following update13:00 - Trends trends trends28:49 - Portfolio construction42:50 - Timing of Trend Following49:12 - The Optimal Portfolio55:12 - Sci-Fi vs. Fin-Fi01:04:16 - China and future growth01:06:07 - Overview of performanceCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, nuclear energy and how it might be a solution to the climate crisis, how de-globalization has made the energy sector more vulnerable and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Adam on LinkedIn.Episode TimeStamps: 00:00 - Intro05:12 - Adam’s background & the history of Energy13:58 - The Dark side of Renewable energy29:11 - Moore’s Law36:54 - Malinvestment and creative destruction44:33 - The renewable energy debate52:34 - Nuclear energy01:04:54 - De-globalization and its consequences01:09:42 - Link between energy prices and GDP01:13:00 - Rounding offResources discussed in this Episode:Link: History of Energy G&R VideoCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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. -----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 - Intro02:32 - Weekly highlights13:35 - Volatility targeting and continuous systems38:30 - Researching structural reasons for success43:30 - System Diversification vs Market Diversification56:26 - The weak edge of Trend Following01:07:30 - Performance overviewCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 standard and the factors that contribute to undermine the dollar, isolationism and what de-globalization will look like, the energy crisis and how ESG is becoming increasingly important and perhaps leading to the rise of nuclear technology and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Izabella on Twitter .Episode TimeStamps: 00:00 - Intro02:45 - About Izabella and her journey06:27 - Autocracy vs. Democracy15:50 - Covid19...the aftermath22:00 - Media Segmentation Theory31:34 - 2022 Economics49:50 - Western vs. Russian economy56:31 - Shift in commodities01:07:25 - Deglobalization01:18:55 - Nuclear technology01:24:41 - Prepping for the worst01:28:34 - Rounding offCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, asset classes and allocating risk, important differences between a moving average crossover strategy and a breakout strategy and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 - Intro02:21 - Market recap04:55 - Update from Rob14:50 - Q1, Adrian: “Good” criterias for stock selection?22:32 - Q2, Emre: Arguments for mixing positive/negative skew strategies?28:12 - Q3, Blink18: What to do with uninvested cash?33:45 - Q4, Harry Hindsight: What do big research teams really do?42:38 - Q5, Richard: Should the class level of an instrument be a criteria for inclusion?48:34 - Q6, Adam: Difference between moving average crossover and breakout strategy?54:14 - Q7, James: Common methodologies for position size?57:34 - The Financial plumbing01:05:20 - Fixed income markets are not all the same01:11:20 - War Stories01:17:25 - PerformanceCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 democracy is affected by the “age of emergency”, the financial aspects of war and crises, crypto as a potential economic asset and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Peter on Twitter .Episode TimeStamps: 00:00 - Intro04:15 - How we got to the brink of WW3?09:42 - The role of technology18:32 - The relationship with China28:25 - Submarines and the war in Ukraine40:38 - Age of emergency and the threat to Democracy47:58 - Autocracy and technology54:34 - The financial perspective59:39 - The role of Crypto01:02:39 - Climate change01:06:56 - What Investors should do01:10:42 - The role and future of Governments01:17:11 - Thanks for listeningResources discussed in this Episode:LINK: The End of the World is Just the BeginningCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 and much more.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Episode TimeStamps:00:00 - Intro02:16 - Market recap09:02 - New opportunities in Currency markets23:57 - Putting Trend Following performance in perspective33:13 - Insights from “More Money Than God”  40:04 - Fixed income vs. equities...where to hedge against inflation50:52 - Insights from recent conversations with CIOs58:49 - Commodities...Long Only or Long/Short01:09:20 - Overview of performanceCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 against autocracy in pursuit of happiness, the Billionaires Protocol and much more!-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Ben on Twitter.Episode TimeStamps: 00:00 - Intro02:02 - Ben’s background06:03 - When did Narrative start to become dominant?16:43 - The nudging competetive state40:43 - The power of Narrative and “control” of the media49:24 - How do we fight back?54:08 - Crypto - a liberation tool?01:03:28 - Lack of imagination01:08:28 - Thanks for listeningResources discussed in this Episode:LINK: Epsilon TheoryCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 classic Trend Following, what it takes to succeed and much more.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:If it helps adding different styles to your trading strategyIf you should use borrowed money as part of a systematic trading approachHow to find the best investment strategyHow to achieve a high level of consistency in your returnsThe use of AI and Machine Learning...does it improve your returnsDivergent Regimes and the end of CarryThe geometry of classic Trend FollowingWhat it takes to succeed-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro05:02 - What’s been on Jerry’s radar?07:30 - Q1, Isaiah - Add trading styles or stick with the “Trend Following + nothing”?19:31 - Q2, Nick - About leverage and using borrowed money25:40 - Jerry's Tweets38:30 - Consistency in returns & how to achieve this43:15 - AI and Machine Learning49:27 - Divergent Regimes56:51 - Geometry of trend following01:01:04 - Inertia of success 01:04:45 - Deep Roots article by Morgan Housel01:06:27 - Performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, how to act in times of crises, the people who inspired Hugo to become a better investor and much more.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How to build strong Multi-Asset portfolios for your clientsHow using CTAs and Trend Followers can help mitigate riskHow manager selection is like a dating processHow to make good decisions as a teamHow to be well prepared for the next crises-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Hugo on LinkedIn .Episode TimeStamps: 00:00 - Intro03:18 - Introduction to Hugo’s work and investing strategy18:32 - From correlation focused to trading oriented strategies24:50 - Being allocated to trend followers28:35 - Challenges of staying invested30:23 - Being a chef and a critic39:41 - Making decisions and having a plan53:09 - People who have inspired Hugo59:31 - Thanks for listeningCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Why commodities play such an important role in a portfolioHow to create a strategy that adapts to different volatility regimesHow ESG and commodities trading is closely relatedWhether to embrace Chinese commodity marketsWhy the war in Ukraine is so important for commoditiesStrategies for protecting yourself against inflation-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Tim on Twitter.Episode TimeStamps:00:00 - Intro02:40 - What has caught Tim and Niels’ attention recently? 06:33 - What has happened since last Niels and Tim spoke in 2014?11:45 - Has Tim made any major research discoveries since last time?19:31 - Why commodities and why now?30:50 - How much room for liquidity is there in the markets?37:32 - Tim’s thoughts on the LME44:31 - Thoughts on commodity exposure and futures51:51 - Why is Ukraine so important for commodities?01:00:16 - Risk mitigation strategies at big pension plans01:07:08 - Update on performanceCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, running portfolios using a risk parity framework, moving into digital assets, manager selection and much more.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How asset allocation is handled in a successful public pension fund like Fairfax County Retirement SystemHow they manage risk and create balance in their portfoliosHow instability in the markets has shaped their strategyHow they look at return expectationsThe (brave) move into digital assetsManager selectionSkills and challenges of being a CIO-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Katherine on LinkedIn .Follow Andrew on LinkedIn.Episode TimeStamps: 00:00 - Intro03:05 - Overview of Fairfax County’s asset allocation strategy14:27 - How has the current market affected their strategy?19:35 - The growth of risk mitigation strategies28:42 - Setting return expectations37:02 - What scenario keeps Molnar and Spellar awake at night?39:38 - Digital assets in a public pension plan51:05 - Manager selection...the insight scoop58:00 - Skills and challenges of being a CIO01:04:30 - Advice on becoming a better allocator01:08:08 - Thanks for listeningCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 for sure!-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Interest Rates and the current Bear Market in BondsOur slighltly different definitions of the term "Crisis Alpha"The concern's Rich has for the World, and what that means for Trend FollowingThe impact on Trend Following of a De-Globalization of the WorldThe difference between initial and trailling stops, and when to use themWhat software to use to backtest your systemsWhether dynamically adjusting your position size during a trade is better or worse than keeping it static-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro03:09 – Weekly recap from Niels05:22 - Update on Rich's Battleship15:35 - Crisis Alpha...yes but much more21:40 - My Trend Following Thesis37:24 - Q1, Andrew: Could you all define the use of a trailing vs initial stop in systems you use?52:25 - Q2, Nicolas: Do you know any affordable back testing systems, other than Excel?56:45 – Q3, Brian: If you Vol adjust your positions...when, if ever, do you re-establish your full position if volatility collapses?01:21:26 – Industry Performance UpdateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, decision making processes and governance, crypto currencies and digital assets and much more.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The philosophy of David Swensen and the Yale ModelHow the role of hedge funds has changed over the yearsThe bet Seides made with Warren BuffettAsset allocation vs. manager selection and the challenges to overcomeWhat Seides has learned from doing his podcastThe importance of leadership and time managementThe difficulty of making a good decision in the heat of the momentThe future of crypto currencies and digital assets-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Ted on LinkedIn .Episode TimeStamps: 00:00 - Intro03:23 - Ted’s background07:35 - How Seides deviates from Swensen in his approach10:36 - The Yale Model and the end of 60/4015:55 - Is it more difficult to be a hedgefond allocator now?23:03 - Asset allocation vs. manager selection31:35 - What has Seides learned from doing his podcast?39:58 - Learning by doing vs. learning from courses etc.41:22 - What has Seides learned from interviewing CIOs and Allocators?43:35 - What constitutes good and bad governance?49:14 - Ted’s perspective on crypto currencies and digital assets51:55 - Macro trends in the coming years53:39 - Reflection on the success of Ted’s podcast57:47 - How Ted’s role has evolved01:01:21 - Thanks for listeningResources discussed in this Episode:Link: David F. SwensenCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Different strategies for rebalancing your portfolioHow de-globalisation can impact Trend FollowingThe recent events in Nickel trading at the LMEHow divergence might cause disruption in markets,How the Japanese philosophy, Kaizen, can be applied to trend following-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 - Intro02:10 - Market recap04:41 - What has caught Mark’s attention recently?13:46 - Overview of the week18:28 - Q1, Brett: Any thoughts on rebalancing based on trending performance?30:45 - Trend Following, globalization and the Dark Ages47:15 - What happened at LME?59:18 - Fidelity, Edward Johnson and the Kaizen philosophy01:14:29 - Update on performance Resources discussed in this Episode:Link: Edward ‘Ned’ Johnson, Former Fidelity CEO, Dies - WSJCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 after.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, we discuss:The increasing popularity of carry trading and its role in the global economyThe risk and volatility of carry trading, and how it can play a role in financial bubblesHow carry trading creates market feedback effects, and how that is distinct from feedback created by other strategiesThe role of liquidity within the carry worldThe future of carry-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Kevin on TwitterEpisode Timestamps:00:00 - Intro02:25 - Introduction to Kevin05:53 - Background on the co-authors of Kevin’s book09:43 - Definition of carry trading with examples13:56 - Volatility vs. risk23:11 - The role of Volatility in investing28:27 - Carry trade suppressing volatility35:55 - Does carry trades play a role in financial bubbles?41:01 - The current carry regime?43:38 - Carry in macroeconomics52:48 - What comes after the carry regime?01:05:44 - Thanks for listeningCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Trend following and its strengths, weaknesses, relevance and futureDealing with volatility as a trend followerFinding investment strategies that fits your personalityWhat causes trends in marketsRisk mitigation strategies-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Episode TimeStamps:00:00 - Intro02:45 - Market recap04:32 - Overview of the week11:35 - Q1, ABE: What are your opinion on roll-harvesting strategies?21:06 - What causes trends in markets?43:05 - Is it too late to invest in trend following?50:22 - Risk mitigation and investor perception of Trend Following58:42 - Key insights from the Allocator series so far01:06:51 - Update on performanceResources discussed in this Episode:Hedge funds pull in another USD11.29bn in JanuaryCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How different types of bonds are valuatedThe pattern in how many times the FED tends to move rates, once they beginWhy Rate cycles are getting shorter (in time)Why Alex believes that the FED should not raise rates before reducing their balance sheetAlex playbook for the Ukrainian crisis: Oil could collapse to $40 and Rates could go back to zeroHow your performance can end up defining who you are (if you are not careful)The synchronisation of the central banks and how the future might look for the global financial market-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Hari on Twitter.Follow Alex on Twitter.Episode TimeStamps: 00:00 - Intro02:42 - Introduction to Alex and his background07:20 - How Alex think about bonds16:37 - Have bonds become more important since 2008?18:15 - Making decisions as a trader, and handling victories and defeats28:01 - Why did Alex go into dividend futures during Covid crisis?33:41 - What Alex would have done if the FED had not stepped in during the Covid crisis35:40 - How manager can feel that their performance defines who they are41:27 - The synchronization of central banks and the affect on rates48:59 - What’s going to happen with the FED going forward?54:05 - Rounding off and overview of Alex’s books59:38 - Thank you for listeningCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 rounding off our conversation with interesting and somewhat provocative tweets from Jerry. -----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Trend following and volatility in relation to the current situation in UkraineThe recent short squeeze in nickel trading and the reaction from the LMETips and tricks to grow as a trend followerHow to develop a good trend following systemHow to manage trailing stopsHow Jerry managed his short Russian stock positionWhat Jerry will focus on as he stops doing Trend Following Research-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 - Intro01:40 - Summary of the week08:03 - What happened this week with nickel trading14:53 - Q1, Josh: Any tips and tricks for Trend Following investing and ETFs?31:57 - Q2, William: How do you react following a missed breakout?37:11 - Q3, ABE: Is it wise to avoid Index-based products and how to trade CTA Index Futures? How do CTAs as an industry, become part of the financial zeitgeist going forward?45:36 - Q4, FunnyMoney: Are trading stops intra-day or managed at the next day open?49:25 - What happens if you stop doing trend following research57:00 - Tweets from Jerry01:20:43 - Performance overview01:21:49 - Thanks for listeningResources discussed in this Episode:LINK: From VW to JPMorgan, the Unlikely Cast Behind Nickel’s Big SqueezeLink: Nickel Short Squeeze & Exchange safeguards explainedCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 risk of manager selection.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How are assets managed in the private space vs institutional spaceBiases in asset allocation and how to overcome them.Using Alpha, Beta and other investment strategiesDue diligence and things to avoid in the processThe risks of manager selection and what it takes to be a good manager.-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Chris Schelling on LinkedIn & read his book.Episode TimeStamps: 00:00 - Intro03:23 - About Chris’s background and his role at Venturi12:45 - Disrupting the 60/40 model and formulating a new standard17:54 - How the industry has evolved over the years21:56 - Is private equity less risky?23:43 - Is liquidity being more or less valued as it should be?27:39 - Alpha, Beta and mapping strategies into categories32:37 - Dispersion and persistence of returns36:30 - How to set objectives and make decisions40:14 - Overcoming biases44:20 - Dealing with randomness47:33 - Important skills managers need to have54:29 - Timeframe for analysing a manager’s performance57:46 - Things to avoid in the due diligence process01:00:14 - Risks within manager selection01:03:00 - How much experience do you need?01:05:09 - Advice for working with asset allocation and manager selection01:06:12 - Book recommendationsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 assets and portfolios and much more.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How the aweful situation in Ukraine affects trend following and volatilityRebalancing strategies within your portfolioThe advantage of systematizing your tradingWhen I sat down with the founds of AHL at Abbey Road Studios-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 - Intro02:15 - Update on markets05:50 - What has caught attention and review on performance27:08 - Status on Rob’s book29:27 - Q1, Harry: What might next frontier be that seems silly today, but common sense later? Who's the next David Harding?34:04 - Q2, Ravi: What are the implications to the markets and the wider global economy?39:00 - Q3, Zoran: How do you navigate through such events (war in Ukraine) as a systematic investor?46:00 - Q4, Richard: If trend following ever became overcrowded, could you identify it and would you take any action?51:55 - Q5, Y: Should traders rely on the experience of past wars/conflicts or is this time different?55:31 - Q6, Emre: Any advice on rebalancing my assets and portfolio?01:02:35 - Q7, Gene: How do you and your guests reason about the timing of your trades?01:08:03 - Q8, Akul: Why not dynamically change the allocations to different speeds of momentum?01:14:32 - Q9, Zach: Is there a way to add trend following volatility instruments? 01:18:53 - Q10, Carl: How to rebalance between multiple strategies?01:22:12 - Thank you for listening, and whats coming up nextCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 recommendations on asset allocation and investing.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:What the 60/40 portfolio will look like in the next decadeThe surprise of markets ability to trendThe value of Risk Mitigation, but how it’s not enoughInsights to the inflationary period in the UK under Nigel LawsonWhy this time feels differentLessons from the 1987 Crash-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Alan Higgins on LinkedIn .Episode TimeStamps: 00:00 - Intro03:05 - Alan’s background and current role04:44 - Risk premium and fixed income24:33 - Setbacks and drawdowns26:45 - Inflation35:06 - Interest rates, bonds and dividends43:22 - Asset allocation and portfolio construction46:18 - Alan’s role at Eighteen48 Partners48:33 - David Swensen and the Yale Approach50:15 - Risks of private equity strategies52:16 - Good vs. bad investment processes55:00 - Managing investment teams56:52 - Book recommendations01:01:06 - Summary by NielsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 - CLICK HEREIn this episode, we discuss:Why now might be the best time to be invested in Trend Following strategiesHow systematic investing can be applied to the ESG spaceThe cause of longer-term price trendsThe Top Traders Monthly Trend Following reportThe best lookback period for Trend Following modelsThe need to diversify away from the ‘buy the dip’ mentality-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro03:49  – Macro recap from Niels06:40 – Weekly review of performance16:35 – Thoughts on Niels, Rich & Jerrys’ LinkedIn conversation with Harold De Boer of Transtrend23:16 – Q1; Frank : How do you see Trend Following strategies fitting into the ESG space?31:43 – Why we developed the Top Traders Monthly Trend Following report51:55 – Q2; Steve : What else causes a long price trend if endogenous shocks are the initial cause?01:09:39 – Shorter-term Trend Following versus longer-term Trend Following01:15:11 – The power of Trend Following during this period of heightened uncertainty01:20:14 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, difficulties in the manager selection process, and how to simplify complex ideas in order to communicate more efficiently.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The outlook for inflationAchieving high performance consistentlyHow to re-allocate a portfolio accordinglyMean variance optimisationWhether this time is differentSelecting the right managerSimplifying complexity for better understandingFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Elizabeth on LinkedIn .-----Episode TimeStamps: 00:00 - Intro03:30 - Elizabeth’s background and history in the investment world04:55 - Elizabeth’s perspective on today’s markets06:52 - Managing a public fund versus a private fund08:14 - Performing above expectations09:38 - The current outlook for inflation11:31 - How to re-position a portfolio for higher expected inflation13:57 - Fixed income versus real assets14:51 - Categorising asset classes effectively19:56 - The limits of mean variance optimisation21:59 - Using historical perspectives as an input into current decision-making24:09 - Whether this time really is different25:25 - Difficulties in the manager selection process28:35 - Choosing between macro and systematic investors30:08 - The pitfalls of investing with macro traders32:40 - Investing in a manager who includes crypto in their portfolio34:34 - Allocating between systematic and discretionary managers36:45 - How to screen for a good money manager40:44 - How to respond when a manager is underperforming43:48 - Process over outcome47:04 - Working with consultants52:27 - Lessons from a leadership coach57:00 - Simplifying complex ideas for better communication 01:00:28 -Advice for aspiring allocatorsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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’.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How Trend Following differs to momentumAvoiding the need to make predictionsThe Federal Reserve and its effects on Trend Following strategiesARKK’s media scrutiny following recent poor performanceThe similarities between Trend Following and optionsHow to calculate ‘risk-to-stop’Qualifying new investors before accepting them as clientsThe “Moscow Rules"-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro02:02  – Macro recap from Niels04:39 – Weekly review of performance23:00 – Q1 Zack: How should I calculate the risk-to-stop metric?28:42 – Q2 Peregrine: Vetting new investors for their ability to handle risk 42:09 – Q3 Graham: Can you detail some of the definitions of a breakout?47:24 – Trend Following versus Momentum01:00:58 – Molecules of prices01:08:31 – Data versus stories and when to apply the ‘Moscow Rules’01:15:00 – Benchmark performance update01:15:52 – A big thank you to listeners of the show for leaving your 5-star reviews on iTunes, and feel free to share our link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listen Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 treasury bonds, lessons from research on high performance individuals and teams, achieving a state of ‘flow’, and how to simplify complex financial topics.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Ever-changing market correlationsStrategic asset allocationResponding to interest rate changesAchieving utility maximisationMean variance analysisPortfolio diversificationTreasury bondsHigh performance teamsSimplifying complexityFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Sebastien on LinkedIn & read his book.-----Episode TimeStamps: 00:00 - Intro03:52 - Sebastien’s journey into the investment management industry07:45 - How Sebastien’s book came about09:39 - Current view on the markets13:37 - How to position portfolios for the year ahead and beyond18:41 - The current outlook for equities and the sectors within19:43 - Investing in a rising interest rate environment24:06 - Responding to unexpected regime shifts in the markets27:04 - Approaches to strategic asset allocation33:24 - Defining and achieving utility maximisation37:48 - The merits and drawbacks of mean variance analysis41:49 - Using scenario analysis47:41 - Distributions during different market regimes55:12 - How to properly diversify a portfolio58:51 - The durability of treasury bonds01:05:18 - Lessons from research on high performance individuals and teams01:07:58 - Achieving a state of ‘flow’01:10:58 - Simplifying complex financial topics----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HereCopyright © 2025 – CMC AG – All Rights ReservedPrivacy PolicyDisclaimer

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, and why we might be entering a great period for Trend Following strategies.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How central bank signalling affects risk appetite around the worldHow Trend Following might perform in a rising interest rate environmentIncluding carry trades in a Trend Following portfolioHow managed futures can help investor throughout ever-changing marketsThe viability of the 60 /40 portfolio going forwardWhy a new golden era for Trend Following might be emerging-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Episode TimeStamps:00:00 - Intro02:36 - Macro recap from Niels05:29 - Weekly review of returns09:55 - How the change of tone from central banks affects the markets18:29 - Trend Following in rising interest rate environment25:19 - Including carry trades in a Trend Following portfolio36:12 - The future of the 60 / 40 portfolio46:53 - Some takeaways from Alan’s conversation with Phil Huber on this week’s Allocator Series52:43 - Why we might be entering a great period for Trend Following01:01:56 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 a behavioural edge as an allocator, and how to manage difficult conversations with clients.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Better education around capital allocationAllocating capital throughout various market cyclesHow to define an ‘alternative investment’How actively we should manage a portfolioTraditional versus alternative investmentsThe difficulties in the manager selection processBeing a great behavioural investor as an allocatorDifficult conversations with clientsAdvice for aspiring capital allocatorsFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Phil on Twitter.-----Episode TimeStamps: 00:00 - Intro02:44 - How 2022 has been for allocators so far03:13 - Phil Huber’s journey into investing05:46 - Why Phil wrote a book on capital allocation09:00 - The typical clients, and types of portfolios that Phil deals with12:07 - The 60 / 40 portfolio and how it became so popular18:49 - Adjusting portfolios to accommodate for changing market cycles22:37 - Defining ‘alternative investments’30:27 - Choosing which strategies to invest in, and when to choose these strategies37:45 - The extent to which a portfolio should be actively managed39:36 - Traditional versus alternative investments40:04 - The challenges of manager selection49:51 - Cultivating a behavioural edge as an allocator53:09 - The importance of courage54:55 - Managing difficult conversations with clients01:01:68 -Advice for aspiring asset allocators----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HereCopyright © 2025 – CMC AG – All Rights ReservedPrivacy PolicyDisclaimer

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’.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Letting winners run and cutting losses earlyUsing 1 entry signal and 1 exit signal per trade versus multiple signalsRedefining what are typically known as ‘safe assets’Howard Marks’ opinion on following priceAchieving effective risk parity within a portfolioHow endogenous outliers are hard to predict-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Episode TimeStamps:00:00 – Intro01:44 – Macro recap from Niels05:24 – Weekly review of performance11:51 – Jerry & Rich’s thoughts on Howard Mark’s opinion of Trend Following24:46 – Why exit rules might be harder to create than entry rules43:45 – Risk parity within a Trend Following portfolio51:03 – The unpredictability of endogenous outliers01:10:08 – The old narrative that ‘Trend Following is dead’01:13:54 – Benchmark performance update01:15:01 A huge thank you to listeners of the show for leaving your 5-star reviews on iTunes, and feel free to share our link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listenCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How market behaviour is often intertwinedWhy Cem chose to manage outside capitalThe thinking behind institutional market movesHow the global pandemic affected marketsDealer flowsFeedback loopsDelta hedgingFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Hari on Twitter.Follow Cem on Twitter.-----Episode TimeStamps: 00:00 - Intro02:17 - Cem’s background, and current work19:18 - The decision to manage outside money24:06 - The trades that institutions like to make30:22 - Feedback loops within markets34:17 - The dynamic between futures and options51:15 - Using Econophysics to find hedging methods53:40 - Building various volatility models and research using toy models57:05 - Approaches to Delta hedging01:00:11 -Changes to qualitative features of overnight indices01:03:12 -Investment products on the VIX and effects on the S&P 50001:10:09 -The feedback loop between inflation, deflation and central bank rate policies01:20:01 -Whether or not there is an asymmetry between deflation and inflation riskCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Central bank policies and their effects on Trend Following performanceThe benefits of having multiple entries and exits across different timeframesHoward Marks’ recent thoughts on trading price action onlyThe status of the commodity marketsHedges against inflationCreating the perfect portfolio using Trend FollowingTrend Following versus ‘trend chasing’-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Mark on Twitter.Episode TimeStamps:00:00 – Intro02:05 – A huge thank you to listeners of the show for leaving your 5-star reviews on iTunes, and feel free to share our link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listen 02:36 – Macro recap from Niels06:22 – Weekly review of performance15:10 – Q1; Zack : Has there been any research into how systematic investing improves ones performance over discretionary investing?41:24 – Making predictions on commodities and inflation50:27 – How Fed policy affects the Trend Following environment01:04:18 – The re-emergence of longer-term terms01:13:43 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How quantum physics relates to financial marketsThe mechanics behind price impactsDavid’s new book, coming out soonThe magical characteristics of moneyThe power and unpredictability of sentimentWeather and how it relates to financial marketsCentral bank money creation and how effective it can beCognitive interferenceFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Hari on Twitter.Follow David on Twitter.-----Episode TimeStamps: 00:00 - Intro02:54 - Can you give us some conclusions from the research you’ve done on weather forecasting?04:33 - Is the notion of the economic system as being something that’s mechanistic and can be controlled flawed, and if so, how?07:12 - Do you look at different economic models and aggregate the data?12:46 - Is there a way to limit the momentum effects of passive investing on the markets?17:41 - Can you explain how quantum physics relates to financial markets?23:15 - Can you give a couple of examples of cognitive interference?28:00 - Regarding the biggest stocks in the S&P 500, is it true that if one stock is 10 times bigger than another stock, and it gets 10 times the dollar allocation, that the price impacts will be the same?42:28 - Can you talk about your new book, and what the title means?45:24 -Does Modern Monetary Theory relate to the quantum physics analogy of something being created from nothing?52:30 - Do you believe that money creation by central banks is unsustainable?57:28 - Would you say that your work implies that minor tweaks to the framework are inadequate when it comes to the economy and investing?Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 Adaptive Market Hypothesis, and the differences between Trend Following and ‘Trend Trading’.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Spotting patterns among previous outliersSimplicity over complexityHow little the news really moves marketsProfessional Trend Following versus 'Trend Trading'The ability of Trend Following models to automatically reduce open risk during drawdowns-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro01:19 – A big thank you to listeners of the show for leaving your 5-star reviews on iTunes, and feel free to share this link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listen 02:41 – Macro recap from Niels04:13 – Weekly review of performance11:14  – Q1; Jonathan: What are the parameters that indicate a high chance of an outlier trade?17:22  – Q2; James: Do you treat correlated markets as individual markets or group them together?21:24  – Q3; Adam: One system has a better average performance when looking at the backtest, and another system has a worse average performance in its backtest while having a large outlier, making its overall returns higher. Which system is better?24:14  – Q4; Irving: How can I trade a 100 markets as an individual investor with capital limitations?29:07  – Q5; James: How do you approach correlation risk management? 32:39 – The differences between Trend Following and the more common term ‘Trend Trading’38:24 – Expanding on the theme of hunting for outliers, and how Jean Phillipe Bouchard’s research was useful in understanding the nature of outliers01:01:53 – Efficient market hypothesis versus adaptive market hypothesis01:22:03 – What importance does it have that we’re changing the narrative around Trend Following?01:25:32 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 yourself as a Trend Follower, and the connection between volatility strategies and high frequency data.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The extent to which news drives price actionHow to look at ever-changing market dynamics, such as correlationsJean-Philippe's journey into financeThe reliability of the Bloomberg terminalDimensional analysisThe inelastic market hypothesisStanding out in the Systematic Investor spaceVolatility strategies and if they have any connection to high-frequency dataFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Hari on Twitter.Follow Jean-Philippe on LinkedIn.-----Episode TimeStamps: 00:00 - Intro02:38 - What area of physics did you work in, and how did you come into finance?05:04 - Can you elaborate the paper you worked on, where you where you investigated the endogeneity of large price moves?15:24 - How timely do you consider the Bloomberg feed to be? Is it quick enough?19:18 - How do we stitch together the two ideas of micro market data28:20 - Do you the believe in the research that is carried out using dimensional analysis?32:58 - Do you think that the inelastic market hypothesis was driven by flows into passive vehicles?37:13 - Regarding the biggest stocks in the S&P 500, is it true that if one stock is 10 times bigger than another stock, and it gets 10 times the dollar allocation, that the price impacts will be the same?40:13 - Can you tell us about your journey so far with CFM?50:21 - Do you still do Trend Following, and if so, how do you do it different from a standard Trend Follower?52:08 - If you kill the beta in a Trend Following program, do you lose the convexity?52:38 - What’s the relation between volatility and higher-frequency momentum systems, in your view?Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The perception of Trend Following among various types of investorsHow many positions to trade at onceThe ‘riskiness’ of various investment strategiesCombining Trend Following and Volatility strategiesRisk-per-futures contractHow much cash to keep on the sidelines and what to do with itPyramiding positionsCFD trading and navigating commissionsMeasuring correlations effectively-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 - Intro03:24 - A huge thank you to those who have left a rating or review on iTunes. Feel free to share this podcast with like-minded friends using this link: https://top-traders-unplugged.captivate.fm/listen 04:47 - Macro recap from Niels08:17 - Weekly review of returns11:01 - How has your new approach been working out, Rob?19:33 - Q1; John: How should I approach risk-per-contract?27:41 - Q2; Patrick: What is your opinion on using a fixed percentage of free-cash balance?34:30 - Q3; Frederick: How do professional Trend Followers pyramid into a position?46:24 - Q4; Michael: Which full-size contract would you say is a ‘must-have’?01:01:19 - Q5; Rene: When it comes to trading CFDs, how can I deal with changing transaction fee percentages?01:09:55 - Q6; Michael: Do you have any advice for a 34-year old who wants to enter the managed futures industry? Has Rob ever considered starting his own fund?01:15:52 - Q7; James: How far back should we look when measuring correlations?01:23:27 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How to improve on the traditional 60/40 portfolioDave’s concept of ‘participate and protect’The importance of compoundingDave’s ‘always good weather’ portfolioLong-volatility Bitcoin strategiesValue investing in the volatility spaceMethods for taking profitsSizing portfolio allocationsFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Hari on Twitter.Follow Dave on LinkedIn.-----Episode TimeStamps: 00:00 - Intro02:01 - How did you end up in the long-volatility sector?04:55 - How options used to be considered as a redundant trading method07:53 - Do you have any idea why the Bitcoin skew is so high and flat?08:56 - What does it mean when you say you consider yourself a value-buyer of volatility?10:15 - Do you have any notion how to mix the various positions you warehouse?15:46 - How do you source good ideas, and has living in Singapore given you an edge for this?27:12 - Can you talk about the Taliban’s use of the ‘Sandpile Theory’?33:13 - Are there more opportunities for you globally now, then there used to be?40:51 - What are your mechanisms for taking profits?47:19 - What’s your view on paying for convexity in your positions?51:13 - Do you engage in skew trades? 52:41 - How do you think about low-vol?55:49 - How do you size allocations to your long-vol strategy?01:01:49 - Closing thoughts from Dave?Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 factors that lead to great periods for Trend Following.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:What markets could look like without Federal Reserve liquidity injectionsMacro versus quantitative approachesAvoiding crowded strategiesWhat it was like to trade through 2018How market participants may try to game Trend FollowersMeasuring the strength of price trendsReviewing the performance of Trend Following during the 2010sWhich economic factors could drive strong Trend Following performance-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Episode TimeStamps: 00:00 - Intro00:58 - Feel free to share this podcast with like-minded friends using this link: https://top-traders-unplugged.captivate.fm/listen and a big thank you to those who have left a 5-star rating or review on iTunes02:34 - Macro recap from Niels05:02 - Weekly review of returns12:22 - Q1: Brett; How do you define a drawdown?13:48 - Alan, what is your background and path to the CTA industry?19:32 - Announcement of new Top Traders Unplugged ‘Allocator’ series 20:49 - What inspired you to write your highly-regarded paper on Trend Following?01:04:08 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:A behind the scenes look at running a volatility fundHow to use Twitter as an investorBringing value to clients as a volatility traderHedging via ETFsMarket flowsOptionsImplied volatilityFinding a good work & life balanceFollow 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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Hari on Twitter.Follow Benn on Twitter.-----Episode TimeStamps: 00:00 - Intro02:20 - How did you end up running a Volatility fund?06:39 - Why did you join a Vol fund instead of a Global Macro fund?09:30 - What do you gain from being on Twitter?11:50 - Explain some of the methods behind how you serve your clients16:19 - What are some of the weaknesses of hedging via ETF products?19:44 - Do you find a lot of value in monitoring the flows into various markets?23:34 - Why is it people are so eager to sell shorter-dated options?26:17 - How do you counter the argument that it’s a good idea to write calls against short positions?30:05 - What are some of the issues with looking at implied volatility versus realised volatility?33:13 - What challenges do you face as a Volatility pro, when it comes to the extreme moves up and down?37:37 - What do you do when you expect large volatility but the direction is unknown?40:30 - How would you react if you knew that there was a huge amount of open interest, 5% down in the S&P, with a few weeks to go?42:52 - Do you have any thoughts on the recent dislocation between the VIX and the S&P 500?46:04 - What are the changes in dispersion dynamics and implied correlations that you’ve noticed over the years?55:03 - Is it fair to say that if you’re long enough Volatility, and there’s a large enough systemic shock, then you’re going to make money?56:48 - Do you have anything to say about the 10-year note futures options surface? Are there persistent distortions there?59:25 - If you see a distortion in the skew, how do you approach it?01:02:56 - Balancing family life and managing a fund01:05:12 - The recent legitimisation of working from homeCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, including our best and worst markets to trade, the lessons we learned, and the biggest surprises.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The reasons for trading different marketsWhy Trend Following firms should trade single stocksThe optimum amount of systems to run at the same timeDiversification across markets versus across systemsSkewnessHow to define outliers-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Follow Moritz on Twitter.Follow Rob on Twitter.Follow Mark on Twitter.Follow Rich on Twitter.Episode TimeStamps: 00:00 - Intro01:20 - Would you rather trade 100 markets with 1 system, using 10 different timeframes? or would you rather trade 50 markets, using 3 different systems, using 5 different timeframes?08:33 - How much ‘positive skew’ do we need?27:04 - Diversification as a means of risk control, versus as a method of finding outliers36:14 - Defining outliers and some thoughts on the number of expected outliers per year45:03 - Can be momentum traders be placed in the same category as Trend Followers?48:13 - Should we care that bubbles exist, or just enjoy the profitable trends? Have the markets gotten any smarter over the years?  52:52 - How Trend Following and Systematic Investing narratives & terms have changed over the years01:12:55 - A review of our best and worst markets to trade during 202101:16:10 - The lessons we learned from 2021, the biggest surprises, and our most regrettable decision from the year Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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, Jack Bogle, Ed Thorp, and Joel Greenblatt. Join us as we uncover what it takes to be a truly successful investor, the benefits of deferred gratification, why being humble can lead to solid long-term returns, and the beauty of combining ‘man and machine’ to create a profitable, systematic approach to the markets.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:The connection between philosophy and investingRichard’s new book, ‘Richer, Wiser, Happier’The secrets behind the successful business model of Costco and AmazonThe benefits of deferred gratificationWhy Ray Dalio likes to combine ‘man & machine’ and use systematic approachesWhy being humble can lead to great long-term returnsHow to invest for the long-term, in a short-term worldThe ingredients that made some of the most famous investors of all-time so reputable-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow William on Twitter.Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 result in improved performance.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Some of the reasons for being a systematic investorThe case for Trend Following as the only strategy in your portfolioTips for effective diversificationWhy you should be Hunting OutliersHow Trend Following performance might look like in the futureIf and when you should override your trading rulesStaying ready for unexpected shocks in the marketsGauging the effectiveness of adjustments to a system-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Jerry on Twitter.Follow Moritz on Twitter.Follow Rob on Twitter.Follow Mark on Twitter.Follow Rich on Twitter.Episode TimeStamps: 00:00 - Intro02:42 - ‘Has classical Trend Following returned to peak performance’?05:16 - How do you see the longer-term performance of Trend Following heading?08:02 - Why not Trend Following as the main, or perhaps only, component of a portfolio?28:01 - When should you manually override your trading system?46:56 - How to setup a system to deal with unexpected volatility01:03:49 - How to know if your research changes are actually improvementsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 temptation to invite him on to the show to talk about the book, and other subjects related to investing and trading. Enjoy this conversation as we cover how the financial crisis of 2008 affected investors' relationship to the markets, the innovators behind the rise of passive investing, Tesla’s entry into the S&P 500, and Robin’s thoughts on Trend Following strategies.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How journalism and financial media has changed in the last 15 yearsWhy the rise of passive investing plays such an important part of the history of financeThe big players behind the rise of passive investingThe first index fundThe rise of BlackRockThe merits of passive and active investingHow investors might react to a prolonged bear marketThe benefits of quantitative investing strategiesWhy systematic investing is often criticised so heavilySome of Robins’ thoughts on Trend Following-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Robin on Twitter.Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 account.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:The reasons for and against machine learning trading strategiesIf any funds have successfully implemented machine learningWhat defines machine learningThe history behind machine learning-based trading stylesHow to manage smaller trading accounts, when it comes to signal selectionHow to time the entry into trend following funds-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Hari on Twitter.Episode TimeStamps: 00:00 - Intro01:25 - Feel free to share this podcast with like-minded friends using this link:https://top-traders-unplugged.captivate.fm/listen and a big thank you to those who have left a rating or review on iTunes02:38 - Macro recap from Niels04:52 - Weekly review of returns09:58 - Q1; Daniel: How do I choose which signals to take when too many arise for a small account?15:21 - Q2; Mervin: Do you have any advice for finding low-risk entry points into new TF funds?25:31 - The history of machine learning and how to define it properly44:24 - How can machine learning be profitable during rare market moves when the data sample size for these moves is so small?48:41 - Which specific areas of Trend Following are more suited to Trend Following? How risky is it to blindly follow a machine learning strategy? 54:20 - Do you classify machine learning as a form of artificial intelligence?55:55 - Have you come across any machine learning funds that have done well for a reasonably long period of time?01:00:48 - Tell us about the recent experiment that Man Group carried out using Machine Learning to select a perfect (and sustainable) Christmas dinner?01:04:44 - Announcement of future special Top Traders Unplugged episodes hosted by Hari Krishnan, as well as special episodes of the Systematic Investor featuring all the usual co-hosts over Christmas01:06:18 - Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:How to effectively approach position-sizingSome methods for investing in Trend Following CTAsIf 'buying the dip' in the S&P 500 is a good strategyPortfolio optimisationTrading lesser-known markets-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps: 00:00 - Intro01:12 - A big thank you to those who have left a rating or review on iTunes. Feel free to share this podcast with like-minded friends using this link: https://top-traders-unplugged.captivate.fm/listen 02:23 - Macro recap from Niels04:24 - Weekly review of returns09:12 - How do you approach position-sizing and risk-per-trade?18:42 - Check out my new blog post: How to Invest with the Best20:01 - Q1 & Q2; Abbey: Should I switch to a mean-reversion strategy when my Trend Following strategy is in a downtrend? Is buying the dip in Trend Following funds an accepted investment strategy, and can I also do this with the S&P 500?32:28 - Rob, what was it like meeting Campbell Harvey for the first time?42:08 - Static and dynamic optimisation when trading smaller accounts01:09:41 - How does your backtest look before and after using the methodologies just described?01:13:06 - What are some of the more obscure markets you can now trade with this newer approach, Rob?01:20:11 - Benchmark performance update01:21:09 - This week, we record the first of our 2-part end of year special, featuring all of my regular co-hosts on the Systematic Investor PodcastCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 investing.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How to manage a portfolio through a crisisThe motivation behind writing his new bookVarious methods of portfolio protectionDiversification within Trend Following systemsVolatility targeting and why it can be a powerful toolThe journey of volatility going from a measure to an inputDrawdowns as an important metric to monitorTiming portfolio rebalances effectivelyThe 60 / 40 portfolio, diversification, and inflation-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Follow Cam on Twitter.Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn this episode, we discuss:Why volatility might not always mean that a model is riskyThe best way to measure true riskHow to 'buy the dip'What Richard thinks about riskThe relationship between volatility and riskConvergent versus divergent trading-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 – Intro01:58 – Announcement of very special Systematic Investor episodes over Christmas featuring Niels, Jerry, Moritz, Rob & Rich together for the first time02:23 – A huge thank you to listeners of the show, such as Dave W, for leaving your 5-star reviews on iTunes, and feel free to share this link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listen 02:57 – Macro recap from Niels06:04 – Weekly review of performance16:19 – Drawdowns as an opportunity ‘buy the dip’ in the Trend Following strategies23:10 – Check out our upcoming midweek-episode with guests Cam Harvey and Rob Carver24:25 – How Richard thinks about ‘risk’43:41 – The relationship between volatility and risk59:20 – Convergence versus divergence01:06:51 – Benchmark performance updateCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 the world of finance, and of course, get his opinion on how close Trend Following is to 'the Perfect Portfolio'.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:Steve's journey to becoming a Professor of Finance and how he ended up co-authoring a book with Professor Andrew LoSome of the concepts from the legendary financial experts they interviewed for the bookHow closely linked the academic world of finance really isAbout some of the most important findings in investment research over the decadesAbout the "untold" story of an early 20th-century mathematician, Louis BachelierHarry Markowitz' storyWhat Eugene Fama's Perfect Portfolio looks likeAbout William Sharpe and his now famous 'Sharpe Ratio'How the phrase 'beta' came aboutHow computers enabled researchers to access deeper insights into the world of investingAbout the debate between active and passive investingWhether volatility should still be considered as a measure of riskAbout the progression of volatility data into today's investment modelsAbout the story of Eugene FamaHow Steve views the question of 'what is the perfect portfolio?'Whether Steve considers Trend Following investing as, essentially, a perfect portfolio-----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 here.Send your questions to [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer