Top Traders Unplugged

In this episode, Moritz Seibert speaks with Michael Neubauer and Joseph Waldstein from SMN Investment Services, a Vienna, Austria-based systematic trend following manager with a 28-year track record. Michael and Joseph explain how they initially got interested in trend following and how their systems have evolved over the years. Moreover, the discuss why trading many different markets – as many as possible – is important for their approach, and that the inclusion of synthetic markets such as spreads and baskets as well as less liquid exotic/alternative markets improves SMN’s risk-adjusted returns. Last but not least, Michael and Joseph explain why they trade VIX futures and why this is a market they trade with a different methodology given the mean-reversion pattern of variance, and how they are monitoring this market – and potentially exiting open positions - on an hourly basis.-----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 Moritz on Twitter.Follow Joseph on LinkedIn.Follow Michael on LinkedIn.Episode TimeStamps: 02:18 - Introduction to Michael Neubauer and Joseph Waldstein05:52 - How did they learn about trend following?14:18 - The perfect match?15:12 - What drove their decision to discretionary overlays?16:52 - What is causing dispersion in the trend following space?19:32 - The dangers of overoptimization23:00 - What are their definition of risk?27:20 - Are more markets better?33:21 - Their research process37:18 - What is their smallest and least liquid market they trade?39:01 - How they use synthetic markets in their trading41:20 - Their considerations about cash equities43:30 - Why are they trading the VIX index?46:36 - What is the outlook for trend following?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

Together with Richard Brennan, we discuss the optimal way of doing trend following and how to find the optimal set of rules to use in different market regimes, how to examine market states through Markov models and how artificial intelligence will impact trend following and make short-term trading incredibly competitive. Lastly, we ask ChatGPT what the optimal way of doing trend following is.-----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:01:04 - What has been on our radar recently?04:03 - Industry performance update07:50 - Q1, Dennis: Given the nature of lengthy hold periods, do you recommend trading cash CFD's accounting for the overnight costs?11:40 - Q2, Ramki: Using ATR for position sizing when backtesting a trend following system14:47 - Optimal rules to use in different kinds of market regimes18:46 - How to use Markov models and mathematical algorithms to optimize trend following strategies41:17 - Is trend following threatened by AI?51:39 - "ChatGPT, what is the optimal way of doing trend following?"Resources discussed in this Episode:SI300: Optimal Trend Following Rules PaperCopyright © 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, we speak with Charles Duhigg, a renowned author and writer for The New Yorker, who won the 2013 Pulitzer Prize for exploratory journalism. His book, "The Power of Habit," spent three years on the New York Times bestseller list. Charles joins us to discuss his new book, "Supercommunicators: How to Unlock the Secret Language of Connection." Our conversation centers around the importance of effective communication in personal and professional relationships, including in the investment industry. Charles explains how to become a "supercommunicator" and outlines the four rules for meaningful conversations. He highlights the types of questions top communicators ask and what we can say or do to make our conversations more meaningful and productive. Finally, we explore the unique rules of communication in the digital age and the distinction between communication and manipulation.-----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 Kevin on SubStack & read his Book.Follow Charles on LinkedIn and read his book.Episode TimeStamps: 02:05 - Introduction to Charles Duhigg06:30 - Every conversation is a negotiation09:21 - It takes two to tango?11:09 - The importance of listening13:42 - The magic of understanding each other15:05 - What is stopping us from having deep connections?18:40 - How to ask the right questions23:18 - Advice for having meaningful conversations28:02 - The business value of deep connections31:27 - The importance of non-verbal communication36:28 - How to match the mood of other people38:48 - The role of identities in communication42:23 - What does Duhigg means with "identity threat"?47:48 - How does it apply online?51:11 - Communication vs. manipulationCopyright © 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 are joined by Andrew Beer where we discuss the outlook for inflation and why Andrew believes there is an existential crisis in macro economic modelling. We then touch on the question "if trend followers might be the only true short sellers left" as well as how to deal with the lag effect when using replication models. We round off our conversation discussing why Andrew believes we should all “share the trend following pie” and why the managed futures space is stalling when it comes to AuM, why he believes that money is “packed anxiety” for most people, why the ETF space needs an injection of positivity 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 Andrew on Twitter.Episode TimeStamps: 00:44 - What has caught our attention recently?03:04 - Is what we thought was "normal" Real Yields actually not normal?09:30 - Are the trend followers the only true short sellers left?19:09 - How do CTAs react to the lower prices?21:35 - Industry performance update23:00 - Q1, Joe: How do you deal with the lag effect in replication models?32:36 - Let's share the trend following pie40:38 - The disadvantages of the institutional world43:56 - Why is the managed futures space not growing?49:49 - A crazy story from Andrew56:26 - Are low-cost offers killing the industry?01:02:39 - The ETF costs dont add up?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, Cem and I welcome Bob Elliott, the founder of Unlimited Funds and former right-hand man to Ray Dalio at Bridgewater. Bob shares what he learned from his decade at Bridgewater and discusses the unique income-led economic expansion currently happening in the US, contrasting it with typical credit-driven expansions. He also explains why most investors are wrongly positioned in today's macro landscape and how they can create a balanced and diversified portfolio. Bob emphasizes the importance of optimizing portfolio allocation to protect against market volatility and unpredictability, and he discusses how to gain access to alternative investments, along with the challenges these assets present. Finally, Cem provides an update on his outlook for 2024.-----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 Bob on Twitter.Episode TimeStamps: 01:42 - What Bob learnt from working close to Ray Dalio?04:24 - The secret to Bridgewaters success07:17 - Elliott's perspective on the current global macro framework10:46 - The outlook for interest rates15:31 - Is inflation here to stay?20:48 - The outlook for asset allocation25:48 - The role of demographics30:04 - A collective memory32:53 - Advice for achieving a balanced and diversified portfolio36:37 - Elliott's approach to diversification42:22 - How to get access to alternative markets46:24 - What drove Elliott intro replication?51:45 - Why the majority of investors are invested in the wrong way57:15 - The state of the global exchange rate markets01:00:44 - Are US stocks trading as Cem exptected into the June Opex?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

Together with Katy Kaminski, we dive deep into the ETF space to better understand how you can utilize a new wave of ETFs as an investor. Katy describes the transition many Trend Following managers have gone through to get into the ETF space and how you can integrate the Trend Following ETFs in your own portfolio. We discuss if or how due diligence in the ETF space may be different from traditional due diligence and the different paths into the ETF space managers have chosen. We also discuss fee considerations when building ETF models and how to choose the right replicator, and if we are likely to have too many firms replicating the same few CTA indices. We end our conversation with some thoughts on how AI will impact the trend following industry 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 Katy on LinkedIn.Episode TimeStamps:01:07 - What has been on our radar recently?02:56 - Industry performance update07:41 - Our thoughts on CTA offerings in the ETF space13:40 - Is giving people more liquidity a good thing?17:32 - Why include ETFs in your portfolio?21:43 - Use cases for ETFs25:00 - How does the due diligence process work in the ETF space?28:58 - Are we becoming a Relative Return industry?32:01 - Is the increasing trader anonymity a problem?34:33 - The different paths into the ETF space40:57 - How ETFs compare to classic managed futures products43:30 - Should you consider fees when building ETF models?47:32 - How to choose the right replicator51:06 - How AI might affect the trend following industry56:55 - A red card to AI?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

Join Alan Dunne in conversation with Gary Gerstle, Professor of American History at the University of Cambridge and author of "The Rise and Fall of The Neoliberal Order", as they delve into the shifting landscape of the global political order. From the decline of the New Deal Order to the ramifications of the Global Financial Crisis, Gary traces the trajectory of the Neoliberal Order and its impact on contemporary society. Exploring the nuances of Bidenomics, they analyse the sustainability of current fiscal and industrial policies amidst rising inequality and geopolitical tensions. Gary shares insights on the potential rise of authoritarianism worldwide, the implications of protectionism, and the prospect of increased antitrust activism in the US. Finally, they turn their attention to the upcoming US presidential elections, examining the contenders and the pivotal factors that could shape the outcome.-----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 XFollow Gary on XEpisode TimeStamps: 02:26 - Introduction to Garry Gerstle05:50 - Understanding political order and neoliberalism12:04 - How important are the economic principles in dismantling the neoliberal order?20:06 - What will drive the new political order?29:01 - How the West's approach to China has changed36:19 - Do banks have too much power?43:34 - Is the U.S deficit a constraint going forward?47:24 - The 4 freedoms of neoliberalism53:34 - The challenges of the technological evolution01:02:16 - Thoughts on how the election might end up 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

In today’s episode, Alan Dunne helps us uncover the latest news and data within the global macro landscape. We also discuss the state of the quant macro space, how it compares to trend following and what allocators should consider when comparing the two. Then we break down how family offices are looking to allocate assets at the moment before we turn our attention to a potential new narrative within the trend following world - namely, how trend following can be used as an return enhancement overlay, instead of "crisis alpha". We also dive deep into fees and returns in the multi-strategy space 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:01:01 - What has been on our radar recently?06:58 - Is OpenAI falling apart?09:19 - U.K. and European Parliament elections - should investors care?11:52 - What is neoliberalism?12:54 - Unpacking the current global macro landscape19:07 - Are central banks defeating their own purpose?22:42 - Industry performance update25:39 - What is going on with quant macro?32:00 - Trend follower or quant macro fund - what is hardest to analyze?34:39 - How are family offices looking to allocate assets currently?37:43 - Any allocation to whiskey?39:31 - Trend following: Return Enhancement Overlay or Crisis Alpha?47:13 - Advice for using trend following as an enhancement overlay49:46 - How multi-strategy funds achieve smooth return streams01:00:09 - Multi-strat managers - contact us!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

In this episode we speak to Koen De Leus and Philippe Gijsels. Koen is Chief Economist at BNP Paribas Fortis and Philippe is Chief Strategist. They are co-authors of The New World Economy in 5 Trends: Investing in Times of Superinflation, Hyperinnovation and Climate Transition. We talk about how technologies like AI, 3D printing will drive economic growth and why they are likely to create more jobs than they destroy. Another important trend from a market perspective is the potential for a doubling of the gold price and possibility of a new ‘super cycle’ for industrial metals. -----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 Kevin on SubStack & read his Book.Follow Koen on LinkedIn and read his book.Follow Philippe on LinkedIn and read his book.Episode TimeStamps: 02:16 - Introduction to Koen De Leus and Philippe Gijsels06:22 - Why haven't we seen higher productivity?12:11 - What is the chance that productivity could increase?17:36 - When can we expect productivity to increase?19:51 - Will AI "steal" our jobs?24:43 - How you can navigate in the AI trends as an investor32:17 - Is it even possible for "normal" investors to benefit from AI?35:26 - Is the energy transition a good investment?40:51 - A new commodity or metal super cycle?45:10 - Exploiting the commodity trends48:12 - Is natural gas a good transition fuel?52:01 - Why is Philippe so positive on gold?56:48 - What are their inflation expectations?01:02:19 - Challenging years ahead?01:08:00 - Key takeaways from 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

Mark Rzepczynski is back to discuss the latest investor sentiment survey from Societe Generale’s Capital Consulting team, to find out what strategies investors are losing interest in and which are seeing more demand right now. We also dig into how the performance of economies greatly depends on the type of government policies and how going from multilateralism to bilateralism impacts trend following, the complexity of being a systematic manager and the phalacy of consensus. Mark also explains why we need to look beyond price and consider the drivers of price, what the VUCA framework is and how/why to use it, whether trend following is becoming too complicated 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:00:39 - What has been on our radar recently?06:59 - Which Alternative Strategies do Investors Want...latest survey?12:17 - Discussing the data18:30 - Industry performance update21:26 - Is the rise of the Chinese stock market legit?25:08 - From multilateralism to bilateralism29:42 - The difference between the ideal vs. reality manager36:31 - The fallacy of consensus40:23 - Using economic data as a trend follower43:14 - Is price truth?47:38 - VUCA - what, why and how?54:50 - Applying VUCA to trend following57:46 - Is trend following becoming too complicated?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 Urwin, Chair of the Investment Committee at Saranac Partners, the $6bn UK wealth manager, joins Alan Dunne in this episode to discuss how he is approaching asset allocation at the current juncture. They discuss how long term valuations and asset class return forecast help inform Saranac’s strategic asset allocation and delve into some of the structural forces that may influence the economic outlook and asset class returns in the coming decade. While shifting demographics, climate change, high deficits and rising debt levels all have the potential to contribute to higher inflation and higher bond yields, Richard is cautious about being too pessimistic about the outlook and sees good opportunity in credit and alternative assets and strategies. They also discuss how Saranac think about selecting and sizing hedge funds in their portfolios and how this has changed in a higher interest rate environment.-----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.Follow Richard on LinkedIn Episode TimeStamps: 02:45 - Introduction to Richard Urwin06:31 - A noticeable shift?08:49 - What is Saranac's investment philosophy?13:06 - Dealing with structural shifts as an asset allocator18:07 - How confident are they in forecasts?24:24 - Balancing competing forces30:08 - How Saranac builds balanced portfolios33:55 - Do they consider supply shocks in their portfolios?40:00 - The dangers of pessimism44:27 - Their approach to alternative assets and strategies48:38 - Their perspective on high-risk managers51:15 - Their manager selection process55:06 - How does the current environment dictate investing?58:13 - About Urwin's PhD on option pricing01:02:40 - Advice for other allocators01:05:16 - 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

Together with Nick Baltas, we dive into trading signal direction and discuss if signal direction always trump signal strength in portfolio construction, based on CFM’s paper on Agnostic Risk Parity. Baltas also explains why allocating risk to where opportunity lies is prudent as well as why trend following is a powerful tool to achieve a broad risk allocation. Based on Baltas’ recent paper in the Financial Times, we also discuss equity momentum and why trend followers might be the “unwanted guests at the party”.-----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 Nick on Twitter.Episode TimeStamps:00:52 - What has been on our radar recently?12:36 - Industry performance update - how is May so far?15:45 - New Ultimate Guide out now...How to get your Free copy!16:38 - Q1, Peter: Should signal direction always trump signal strength in portfolio construction?27:39 - Q1.1 Peter: Is it reasonable to aim for broadly equal risk allocations across different asset classes?35:19 - Q1.2 Peter: If you were an institutional investor with an ultra-long time horizon, a stomach for short-term volatility and a mandate to deliver the highest possible CAGR over the long-term, how much of your portfolio would you allocate to systematic trend-following?39:22 - Q1.3 Peter: Do you agree with Anthony Todd's description of trend alpha coming in bursts?46:54 - Discussing Nick's paper in the Financial Times57:48 - What kind of party guest would a trend follower be?59:09 - 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 episode, Tad Fallows, Founder of Long Angle, a community for high-net-worth and ultra-high-net-worth investors, joins Alan Dunne for a fascinating chat on how they approach asset allocation and find niche investment opportunities. Tad speaks about the typical risk appetite of his co-investors, highlighting how age and generation of wealth shape the risk profile of members. He talks about investments in private equity, alternative assets, and their investment strategies in the shifting macro landscape. Tad highlights why hedge funds may seem less appealing to them but why he has a lot of interest in trend following. He also speaks to some of the more esoteric investments his group makes such as whiskey aging, and talks about their crypto exposure. Finally, he highlights the importance of intuition and high conviction when making investment deals. -----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.Follow Tad on LinkedIn.Episode TimeStamps: 02:34 - Introduction to Tad Fallows12:38 - The risk appetite of Long Angle investors15:45 - What defines the Long Angle community?19:52 - Why not the traditional route?23:14 - How are they allocated?27:20 - How they incorporate private equity in their portfolio35:02 - How much of their returns are resilient to changes in global macro?40:18 - Micro or macro?45:08 - Taking advantage of inefficiencies in markets47:04 - Why are they staying away from hedge funds?49:32 - Why are they using trend following?52:24 - Their thoughts on crypto56:29 - Generating ideas and finding priorities01:01:29 - Advice for other investors01:07:05 - 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

Hari Krishnan returns to the show for a deep dive into commodities. He helps us understand why investing in commodities is not as easy as other markets and why he believes that we are entering a commodity super cycle. We also discuss how to overcome the challenges of holding and storing commodities and why cheap commodities are not always so cheap once you start rolling your futures position. We talk about where his new “virtual storage” concept can add value to a trend following system and much 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 Hari on LinkedIn.Episode TimeStamps: 01:07 - What is catching our attention recently?06:53 - A recap of April10:14 - Hari's thoughts on trend following14:30 - The interesting commodities18:10 - A commodity super cycle inbound?20:36 - BUT...Commodity Bulls used the same arguments in 202222:51 - How commodity storage functions29:57 - Balancing divergence and convergence32:26 - How virtual commodity storage works35:55 - The role of trend following in a regime-based participation42:47 - How consistent is the virtual warehousing approach?47:06 - Manual or systematized?48:59 - Overcoming the challenges of commodities53:44 - What markets can the method be applied to?54:16 - 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 episode, Cem and I welcome Christian Mueller Glissman back on the show, and together, we tackle the intricacies of capital allocation in 2024, particularly amid the pivotal elections we expect to see. We discuss the pros and cons of starting with a 60/40 portfolio allocation strategy. Cem and Christian highlight Europe's resilience to inflation and its potential energy cost advantages, making it an attractive investment destination. We also analyze how election cycles, especially during populist periods like now, influence the economy and markets. Christian shares insights on using structured products to manage volatility, and both he and Cem strongly advocate for strategies like trend following in current market conditions. Finally, we discuss what an optimal portfolio allocation should include in 2024.-----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 Christian on LinkedIn.Episode TimeStamps: 02:39 - Christian's current big picture macro framework07:22 - The role of volatility in inflation12:20 - Should the 60/40 portfolio always be your starting point?21:02 - What are the risks of the 60/40 portfolio not being the starting point?27:37 - A scary situation in Europe?32:16 - How election periods affect the economy40:22 - A wall of worry43:30 - Christian's thoughts on using structured products to reduce volatility48:03 - A push-pull effect51:41 - Is trend following the solution?54:39 - The optimal portfolio in 202401:01:04 - A time of opportunity?01:03:49 - 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, I'm joined by Cem Karsan to discuss how speculations in markets affect the economy and Cem presents his view on the current state of global macro as well as a forecast for the rest of the year. How do conflicts around the world affect the global economy and why does Cem believe that we are going into a “dangerous period”? Why does Cem believe options are key to making profit from different scenarios and outcomes and what are the possibilities of seeing US rate cuts later this year? We also discuss how the U.S election will impact the economy and where Cem believes the equity markets will finish the year 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.Episode TimeStamps: 00:47 - What has been on our radar recently?02:22 - What is the talk of the town in the vol space at the moment?03:11 - Industry performance update05:27 - Q1: What is Cem's view on the impact of call speculation on the VIX?12:17 - Cem's perspective on the current state of global macro18:09 - Important market development recently?31:40 - Making profit from different scenarios35:48 - The structure of markets42:23 - Are rate cuts coming?48:10 - How the U.S election will change the economic narrative53:32 - The pros and cons of a win for Trump56:49 - 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

Join us for an eye-opening discussion on global power dynamics with geopolitics expert Marko Papic, alongside Cem Karsan and myself, where we dive deep into the ongoing tug-of-war between the West, Russia, China, and the rest of the world. Marko sheds light on the United States' push for a clear bipolar world order. He shares his insights on whether the world as we know it is coming to an end and why a Trump presidency may pave the way for trade deals and foreign policy agreements, particularly with rivals like China. Looking ahead, Marko discusses Europe's industrial sector and explains why investing in European industrials could be a smart move. Finally, we explore the complexities of the relationship between Russia and China. Are they as close as we think? And is China's dream of becoming the next superpower within reach? We also delve into the possibility of China's move to invade Taiwan and what it would entail.-----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 Marko on Twitter.Episode TimeStamps: 02:15 - Marko's current macro framework07:20 - Moving towards a multi-polar world14:43 - How is now different from back in the days?23:36 - Trump landing the deglobalization plane31:48 - The election - a macro black hole36:47 - The new world from a non-US perspective44:18 - What happens with Ukraine?49:50 - An increased risk for bigger global conflicts?56:15 - Creating strong relationships01:02:50 - Will China invade Taiwan in the next 5 years?01:05:30 - 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, Rob Carver joins me to answer questions about MatLab as a backtesting tool, why you should be careful to apply trend following in crypto and what Rob think about seasonality and relative value as strategies. We also dive into why Rob has increased his allocation to trend following and his thought process when building portfolios, how the surging price of cocoa has impacted the trend following industry and much more.-----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: 01:05 - What has been on our radar recently?06:15 - Industry performance update09:54 - Q1, Paul: Where can I learn MatLab?13:38 - Q2, Byleth: What is Rob's experience with trend in crypto?20:41 - Q3, Tauras: What are Rob's thoughts on seasonality and relative value as strategies?26:23 - Are strategies like seasonality convergent?27:14 - Rob's thoughts on relative value as a strategy32:00 - Shock! Horror! I've increased my CTA allocation41:07 - Rob's thought process on portfolio allocation46:19 - Vol scaling with a nice cup of hot cocoa57:43 - Path-dependence vs. non-path dependence59:53 - Final thoughts and a cliff hangerCopyright © 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 Peter Oppenheimer, Chief Global Strategist and Head of Macro Research in Europe for Goldman Sachs joins us to discuss his new book Any Happy Returns: Structural Changes and Super Cycles in Markets. Peter believes financial cycles are the primary driver of investor returns. He explains how each cycle consists of four phases with distinct characteristics in terms of returns, earnings growth and valuations. We talk about the structural changes that are creating headwinds for markets in our current super-cycle and how AI and the energy transition might help offset them.-----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 Kevin on SubStack & read his Book.Follow Peter on LinkedIn & read his book.Episode TimeStamps: 02:07 - Introduction to Peter Oppenheimer04:59 - What do financial cycles derive from?07:19 - What drives the cycles?09:31 - A desynchronisation in the cycles12:15 - Are we entering an optimism phase?14:39 - Interpreting the signals17:38 - Does Peter see room for interest rates to rise?21:59 - What drives the high corporate profits in GDP?26:54 - Are companies losing their margins?29:17 - The potential of AI31:54 - Can high energy consumption ruin the development of AI?35:48 - Where will the investment in AI come from?40:00 - Going full cycle41:37 - The engines of growth43:43 - Did the central bank response stop markets from becoming volatile?48:13 - The role of central banks51:22 - Getting out of a period of high debtCopyright © 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, we are joined by Richard Brennan to discuss why now is the time to step up your trend following allocation. Rich challenges Andrew Beer’s conclusion that a 3% allocation to trend following is the sweet spot and explains why he believes the trend following industry should simplify its narrative and quit the fancy “jargon”. We also discuss what defines a trend follower and why we may be losing the incentive to keep improving as trend followers, new research on the impact of crises 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:02:08 - What has been on our radar recently?08:33 - Industry performance update16:02 - What is the optimal allocation to trend following?24:02 - Do trend followers have fiduciary responsibility?27:09 - Why is Andrew Beer having trouble with his trend following allocation?31:30 - Are we moving too far away from the classic trend following?37:21 - What does it take to call yourself a trend follower?42:01 - Discussing Corey Hoffstein's approach46:44 - What about the fees?50:34 - Are we losing the incentive to improve?58:45 - The impact of crises01:07:11 - Sign up for our new newsletter01:08:26 - What is up for next week?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 are delighted to be joined by Anthony Todd, Co-Founder & CEO of Aspect Capital, for an insightful discussion on the role of systematic trading and trend following in today’s economy. We also discuss what has driven Aspect Capital’s shift towards developing multiple strategies and how they guide their clients to make better investment decisions, whether the trend following industry should be concerned about replication strategies and how allocations are funded today. Lastly, we discuss how Aspect Capital uses AI in their work and how systematic trading has changed as a whole with the rise of AI, what Todd is most excited and concerned about in 2024 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.Follow Todd on LinkedIn.Find out more about DUNN CapitalEpisode Timestamps:02:24 - Introduction to Anthony Todd and Aspect Capital05:43 - A global macro perspective09:45 - How has the industry evolved?13:51 - Are investors under-allocated to trend?17:11 - Trend following - a return enhancer?20:37 - The correlation between stocks and bonds25:27 - The path to offering multible strategies29:47 - Balancing choices and guiding clients and investors33:26 - Are CTAs threatened by replication strategies?39:11 - How are allocations funded now?42:28 - CTAs - competitors or a different allocation?44:44 - Does capping the beta make sense?49:21 - Are investors becoming too difficult?52:49 - Todd's view on the use of artificial intelligence58:13 - Has trend following changed because of AI?01:02:53 - Excitement and concerns for 2024Resources discussed in this Episode:LINK TTU146: Aspect Capital InsightsCopyright © 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 are joined by Andrew Beer to discuss why the current surge in Cocoa prices really is a big deal for our industry, but how CTAs have been selling it this year, against many main stream media reports. We also dig into how the strong performance in Q1 2024 is helping Trend Following making its way into more Model Portfolios and the existential crisis that we are seeing in the Model Portfolio world. We explain how the narrative around trend following is changing and why replication strategies are becoming less radical. And we wrap up our conversation touching on what the optimal allocation to trend following should be based on the latest publication from Man Institute, the challenges of dealing with unrealistic expectations in the trend following space 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 Andrew on Twitter.Episode TimeStamps: 01:16 - What has been on our radar recently?05:38 - Industry performance update06:49 - What is the big deal with Cocoa?11:49 - What causes the rising Cocoa prices?13:56 - A fantastic start to the year for trend following16:58 - Industry performance update continued18:12 - Q1, Peter: What percentage of your liquid net worth do you have invested in DBMF?22:05 - What does Q1 2024 mean for CTAs?30:51 - A period of normalcy34:02 - A change in the trend following narrative42:54 - Are replication strategies becoming less radical?46:22 - Stacking returns - a good or bad idea?52:35 - Honey, I Shrunk the Trend-Following (paper from Man Institute)57:08 - Finding the optimal allocation01:04:27 - Niels' different perspective on a trend following allocation01:07:11 - Different allocations for different situations?01:11:10 - Too old for unrealistic expectationsResources discussed in this Episode:LINK SI290: Honey, I Shrunk the Trend-Following | Man InstituteCopyright © 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

Christophe L’Ahelec, Managing Director of Public Markets at University Pension Plan Ontario, joins Alan Dunne in this episode to discuss their approach to managing the C$11bn defined benefit pension plan. We discuss the high level Strategic Asset Allocation of the plan and also how the changed macro environment in recent years has motivated a shift in the asset allocation towards more absolute return strategies. Such strategies play a dual role of diversification and return enhancement for UPP and we discuss how Christophe thinks about an appropriate strategy allocation within absolute return. We also delve into the challenges of manager selection and evaluation, why it is important to remember that you are buying an “investment process” not historical returns when allocating to managers and discuss when is it appropriate to remove a manager and when not. -----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.Follow Christophe on LinkedIn.Episode TimeStamps: 02:50 - Introduction to Christophe L'Ahelec07:06 - A new initiative10:01 - What kind of strategy drives their asset allocation?12:40 - What goes into which bucket?14:45 - What makes absolute return exposure more attractive at the moment?16:31 - Constructing an absolute return portfolio18:38 - How they approach trend following21:58 - Why do they use leverage?23:32 - What do they expect from their portfolio?25:12 - Managing liabilities27:58 - Public equities - where do they stand?30:59 - Investing in niche strategies34:11 - How they evaluate managers36:21 - Open to early stage manager risk?41:42 - What makes a manager stand out?44:56 - When should you remove a manager?46:47 - What is their governance process?50:36 - How they make decisions as a team52:20 - Advice for new investors55:34 - 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

Mark Rzepczynski joins us to remember one of the most important people within modern-day finance, author and psychologist, Daniel Kahneman, and the impact he had on our industry. We also discuss how increasing interest rates change the way investors behave and why trend following and CTAs have performed so well the past 5 years, perhaps without been given the credit the strategy deserves. We also dive into the cocoa market to discuss why it may still have a long way to go, despite racking up another 60% rise in March 2024 alone. We then move on to explain why the financial conditions index is important to understand for trend followers and why Mark believes stocks may continue to rise. Lastly, we discuss what makes trend following unique, why having trend following in your portfolio can help you achieve better performance and more diversification 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:01:03 - Remembering Daniel Kahneman03:54 - Things are changing09:54 - Industry performance update13:32 - What the Credit Suisse Managed Futures Index is missing16:23 - Let's talk about Cocoa21:55 - Trends can last longer than people expect24:44 - Is the Cocoa market a bubble?28:31 - Less markets = better performance?30:43 - Static vs. Dynamic position sizing in the Cocoa market39:13 - Understanding the financial conditions index45:09 - A euphoric environment49:47 - What makes trend following unique?54:50 - Global macro vs. trend following59:01 - A rotation in the alternative markets01:03:15 - Thanks for listeningResources discussed in this Episode:LINK SI289: Global Macro and Managed Futures Hedge Fund Strategies: Portfolio Differentiators?LINK SI289: A Century of Macro Factor InvestingCopyright © 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, Moritz Seibert is joined by Tony Kaiser, the CEO and founder of Kaiser Trading, a short-term systematic fund based in Melbourne, Australia. Tony speaks about his start in the late 1990s, leaving a bank prop trading role to set up his own shop, and then comments on how the short-term trading space has changed and evolved over the years. Today, the models they use are shorter-term than the ones they used to trade decades ago, and the entire business is much more tech dependent. Tony mentions that short-term trading is difficult and that the space has a higher barrier to entry, which is why there are relatively few short-term managers for investors to choose from, but that one really attractive feature is the low correlation of their returns not only to traditional asset classes, but also to their own sector, i.e., other short-term managers.-----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 Moritz on Twitter.Follow Tony on LinkedInEpisode TimeStamps: 02:16 - Introduction to Tony Kaiser04:07 - An interesting journey16:50 - A difficult space for alpha20:55 - Why did Kaiser move into the short term space?28:17 - How has trading frequency and systems evolved?33:15 - Do Kaiser's original models still work today?45:28 - A shock to the system49:43 - Where does the low correlation come from?57:00 - 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

Join us for the weekly trend following update with Alan Dunne, where we discuss why 2024 is turning into an interesting year for investors with diverging signals from Central Banks. We debate the possibility of the markets entering a bubble and how the levels of interest rates could cause a refinance crisis. Alan also takes us through the history and outlook as per the newly released UBS 2024 Yearbook, uncovering what has been dominating the economy throughout history, and the reason why many investors might be missing out on potential diversification by under-allocating to trend following. Lastly, we discuss the role of hedge funds in a multi asset portfolio and the importance of constructing a portfolio that best suits the investor’s needs.-----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:01:21 - What is catching our attention at the moment?05:40 - Is the economy becoming a bubble?14:09 - A refinance crisis inbound?20:41 - Industry performance update24:49 - The economic outlook and history - UBS 2024 Yearbook32:29 - Equities are here for the long term37:57 - All in on equities?44:15 - Investors are getting this wrong46:19 - Can hedge funds play the right role?50:17 - Where do multi-strat funds fit in?53:28 - Choosing the right strategy58:00 - Thanks for listeningResources discussed in this Episode:LINK SI288: Why Not 100% EquitiesLINK SI288: Can hedge funds play the role?LINK SI286: The Road Ahead: Regime-Based InvestingLINK SI281: History Shows What to Expect from Trend-Following When Rates Are Being CutLINK SI280: Driving with the Rear-View MirrorLINK SI280: Stocks for the Long Run?LINK SI280: Dial Up Return, Not Risk: The Z-Shift FrameworkLINK SI280: Stocks for the Long Run? Sometimes Yes, Sometimes NoLINK: Insights from AlphaSimplexCopyright © 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, Moritz Seibert is joined by Ricardo Leiman and Pedro Marion from KLI Asset Management, a UK-based commodities-focused hedge fund. Ricardo and Pedro explain why KLI’s trading approach is rooted in deep fundamental analysis of commodity supply and demand and how they integrate commodity equities into their portfolio. Furthermore, they mention that the strong diversification across their portfolio of about 30 markets allows them to hold directional positions longer term, avoiding stop-outs on short-term price reversals – a feature that’s also an edge. Ricardo and Pedro also provide color on markets which they believe are currently interesting, including copper, sugar, coffee, oil, and EUA emission allowances.-----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 Niels on Twitter, LinkedIn and YouTube.Follow Moritz on Twitter.Follow Ricardo on LinkedInFollow Pedro on LinkedInEpisode TimeStamps: 02:09 - Introduction to Ricardo and Pedro06:18 - What is their edge?07:57 - What commodities are they trading?08:46 - Why they don't trade cocoa11:09 - Acquiring information through networking13:40 - Why and how do they trade commodity equities17:15 - What do they consider long-term?19:38 - Why isn't copper sky rocketing?22:01 - Their approach to options22:50 - How they incorporate trend following in their trading25:24 - Global macro perspectives27:28 - No hard landing?28:35 - Is the coal market dying?31:14 - The outlook of EUAs35:03 - Do they formulate a price target in their models?37:08 - A disconnect in the green transition38:58 - Natural gas market integrating with LNG40:55 - Their view on the grain markets43:34 - A quick touch on other markets44:20 - 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, we welcome Katy Kaminiski back to the show as we reflect on her entry into the trend following space and what she has learned on her systematic journey. We also discuss different ways of allocating risk in portfolio construction and why Katy “loves skewness”, why preparing for pain can actually lead to better decisions as an investor and how changes in the global macro environment takes time to manifest in trends. Lastly, we discuss what we are both excited and nervous for in 2024.-----50 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 Katy on LinkedIn.Episode TimeStamps: 00:50 - What has been on our radar recently?03:03 - When are trends coming to an end?06:24 - Industry performance update07:31 - How did Katy end up in the trend following industry?11:19 - What attracted her to the industry?12:40 - What Katy has learned from being an allocator15:44 - Risk variations in portfolio construction20:21 - What drives the biggest dispersion?21:54 - Understanding risk in your portfolio24:05 - Constant vol targeting - just a phase?25:25 - The importance of skewness31:06 - Mind the timeframe34:57 - Preparing for pain ahead of time (MAN Paper)38:15 - No pain, no gain...43:28 - Economic trend (AQR Paper)47:33 - Dealing with a world in disruption50:48 - Excitement and worries about 202457:05 - What is up for next episode?Resources discussed in this Episode:LINK SI281: History Shows What to Expect from Trend-Following When Rates Are Being CutLINK: Insights from AlphaSimplexCopyright © 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

Tor Svelland, of Svelland Capital, joins Alan Dunne in this episode to discuss the global macro forces driving global commodity markets. They discuss how the commodity markets have evolved over the years, as banks have scaled back trading and quant firms and CTAs have become more prominent players. Tor outlines the key reasons he believes commodity markets are in the midst of a super cycle, identifies where he sees the strongest opportunities and discusses what the commodity markets are currently suggesting about the state of global demand. They discuss how the global energy transition, de-globalization and nearshoring, rising geopolitical risk and increased defence spending will impact markets. They also delve into the periodic mis-pricings Tor sees between equities, particularly technology stocks, and commodities given their rising electricity demand. -----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.Follow Tor on LinkedIn.Episode TimeStamps: 02:26 - Introduction to Tor Svelland06:18 - How have commodity markets evolved?09:19 - More opportunities in commodity markets?11:32 - Why Tor started his own firm14:15 - Tor's outlook for the commodity markets17:10 - What has driven the flat trend in the major industrial markets?20:09 - Are we in a super cycle?22:55 - Translating trends into trades24:47 - Which markets will benefit from the energy transition?26:55 - A slow transition31:14 - The temperature of the global economy35:21 - Where will we see signs of recession?39:13 - Is disinflation a major trend?41:14 - How extreme can it get?42:42 - How will Europe meet its energy demands going forward??45:13 - How the defense spending will impact markets47:07 - Taking advantage of the spikes in markets51:06 - How volatility sellers affect markets52:56 - Additional observations in the commodity markets55:18 - Putting it all together56:52 - Why has gold miners been so slow?58:27 - Private capital taking over?59:20 - Advice for other investors01:00:30 - 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

This week, Rob Carver joins us to uncover his process of choosing which instruments to trade and how to manage the volatility of these. We also discuss how time frames affect position sizing and the ability to get reasonable exposure to a market as well as how you manage your expenses as a full time systematic trader. We round off our conversation with a deep dive into the latest paper from Man Institute to find out if different regimes exist in reality or just in hindsight. The paper uncovers if investors can reliably profit from correctly identifying them and if so, how? And how various types of investing have performed through different regimes, including Trend Following.-----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: 02:26 - What has been on our radar recently?06:31 - Industry performance update13:41 - Q1.0, Matthijs: Assuming that the trading costs are not a problem for some low-vol instrument, then how can we decide whether/how to still safely include the instrument in our portfolio?23:50 - Q1.1 Matthijs: How do we distinguish between benign naturally low-vol instruments and disasters waiting to happen due to artificially dampened volatility?26:18 - Q2, Ben: If I can trade markets like sugar or OJ on 20-day breakouts, is it reasonable to do so or is that quote-unquote too fast?32:08 - Q3, Emil: As a full time systematic trader, how do you manage your expenses, with up and down months/years?43:09 - Discussing latest Man Institute paper on regime based investing50:37 - A win for trend following59:32 - Does it matter if the Fed is tightening?01:01:53 - The Impact of Contango vs. Backwardation01:09:57 - Thanks for listeningResources discussed in this Episode:LINK SI288: Why Not 100% EquitiesLINK SI288: Can hedge funds play the role?LINK SI286: The Road Ahead: Regime-Based InvestingLINK SI286: Regime-Based InvestingLINK SI281: History Shows What to Expect from Trend-Following When Rates Are Being CutLINK SI280: Driving with the Rear-View MirrorLINK SI280: Stocks for the Long Run?LINK SI280: Dial Up Return, Not Risk: The Z-Shift FrameworkLINK SI280: Stocks for the Long Run? Sometimes Yes, Sometimes NoLINK: Insights from AlphaSimplexCopyright © 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 we talk to Dr. Hannah Ritchie, Deputy Editor and Lead Researcher at Our World In Data and author of the Not The End of the World, How We Can Be The First Generation to Build a Sustainable Planet. Dr. Ritchie talks about her personal journey from a climate pessimist ready to switch careers to a data scientist explaining why the world can transition to a sustainable future. We discuss how China and India are becoming greener at a much faster rate than western countries did as they developed. We also talk about why electrification is so important and the role for nuclear and gas power in that process. She explains why food systems play an important role in emissions and the surprising list of individual actions that help - and also hurt - the environment. -----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 Kevin on SubStack & read his Book.Follow Hannah on LinkedIn and Read her Book.Episode TimeStamps: 02:22 - Introduction to Hannah Ritchie09:17 - How does Hannah describe herself and her work?10:56 - How has global CO2 emission developed?16:01 - How is China managing their intermittency problem?19:10 - How does nuclear play a role for our future?21:53 - Natural gas - a perfect bridge?23:35 - Are EVs a viable solution for transportation?26:55 - Addressing the criticism of EVs30:31 - Why does a plant based diet have such a big environmental impact?34:05 - Why organic farming methods and local meat isn't really sustainable37:59 - Why is Ritchie skeptical about vertical farming?40:50 - Can plastic be positive for the environment?43:16 - Managing the plastic waste47:27 - Importing and export plastic waste49:38 - How to be an optimal data scientist56:11 - Key takeaways from 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

Today, Cem Karsan joins us to discuss a wide range or really important topics. Inspired by questions from listeners we discuss how the balance in asset performance is shifting and how 0DTE impact markets. We also discuss how 2024 will contain more inportant elections than any other year in recent history and how we foresee the U.S. election will play out, the state of flows and the rise of a new meme stock. Lastly, we discuss whether the U.S. is beginning to loose the exorbitant privilege due to their huge debt and the potential power shifts that can happen in the nearby future.-----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.Episode TimeStamps: 01:06 - What has been on our radar recently?05:13 - Industry performance update08:01 - Q1, Rick: Is positioning in tech under or over weighted?11:23 - How 0DTE impact markets18:08 - Is the VIX broken?24:03 - 2024 - The year of elections30:19 - Republicans or democrats - does it even matter to the markets?32:09 - The return of the Kennedy's39:15 - What is going on with flows?47:55 - The rise of meme stocks52:41 - How the U.S. debt will impact the dollar59:59 - A wild ride for Japan01:05:54 - 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

Peter Madsen, CIO of SITFO, joins Alan Dunne in this episode to discuss how the $3.5bn State of Utah Sovereign Fund runs its investment portfolio. They discuss the rationale for Peter’s investment philosophy of having a diversified portfolio of growth assets, real assets, income generating assets and defensive strategies in contrast to the equity-centred portfolios of many endowments. Peter discusses the key risk considerations in managing the portfolio and how the team think about formulating return expectations. They discuss the opportunities in private markets and the potential risks in private credit in particular. A key element of the portfolio is the allocation to Systematic Convexity which includes Trend Following and Global Macro strategies and Peter discusses his journey investing in CTAs and some of the challenges and pitfalls of selecting managers. -----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.Follow Peter on LinkedIn.Episode TimeStamps: 02:56 - Introduction to Peter Madsen and his firm06:54 - How is their portfolio charactarized?09:16 - Their investment philosophy14:33 - A skepticism about equities?17:04 - How do the macro environment influence them?21:23 - What is reasonable return expectation for equities?25:19 - Splitting between public and private markets28:20 - Where lies the most risk?30:25 - Opportunities in the private credit space33:21 - Building a strong defense38:29 - Why don't more people invest?40:41 - Madsen's view on CTAs and Global Macro45:51 - The pitfalls of manager selection49:29 - How important is performance?51:39 - Constructing an efficient decision-making process56:24 - Guiding and assessing a team of managers59:55 - Advice for other investorsCopyright © 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

Goldman Sachs's Nick Baltas joins us today, to help us uncover if it is meaningful to use factor regression to evaluate managed futures. We also weigh in on couple of articles, relating to the outlook for trend following and the state of the industry, before turning our attention to some hard core research into how to construct the optimal trend following portfolio and why it is important to be conscious of which battles you pick. Lastly, we discuss the challenge of timing an investment into trend following, the pros and cons of trading alternative markets and 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 Nick on Twitter.Episode TimeStamps:00:23 - What has caught our interest recently?03:04 - The Nikkei index finally comes out it its 35 year drawdown05:35 - Industry performance update07:37 - Q1, Oliver: Does it makes sense to use factor regression to evaluate managed futures?14:24 - The state of the industry18:17 - Is trend following flopping?27:34 - Building optimal trend following portfolios36:15 - Pick your battles49:10 - Is there a way to time trend following?53:34 - Is it actually an advantage to trade alternative markets?01:04:44 - 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 this episode, Moritz Seibert speaks with Gareth Abbot and Richard Liddle from Bowmoor Capital, a trend following firm based in the UK. Gareth and Richard explain why they decided to go against many trend followers and limit their investment universe to 21 markets – a “compact” portfolio – and why additional markets would likely dilute the return stream they aim to generate. We also speak about their portfolio construction process which includes the combination of 16 systems and results in what they call “smart pyramiding” in and out of positions. Finally, we touch on dynamic position sizing.-----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 Moritz on Twitter.Follow Richard on LinkedInFollow Bowmoor Capital.Episode TimeStamps: 02:09 - Introduction to Richard Liddle and Gareth Abbot05:19 - How did they get into investing?09:43 - Why trend following?13:55 - Solving the market puzzle15:36 - How they designed their strategy?18:46 - The reason for their market selection24:18 - Why exactly 21 markets?31:13 - How did they design their system?39:47 - Why they don't trade hundreds of markets42:08 - What timeframes and models do they work with?50:13 - Controlling the heat55:31 - What is "heat" in a portfolio?57:26 - How do they manage the heat?01:00:06 - How they use dynamic position sizing01:05:00 - 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

Come along for this fascinating conversation with Richard Brennan, where we dive into how to the beat the benchmarks as a manager. We discuss the different factors that goes into achieving great performance and why trend following has greater potential return than other alternative investment strategies, why bigger and newer is not always better in terms of complex adaptive systems, why it is important to be aware of system diversification and much more.-----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:01:07 - What has caught our attention recently?02:33 - What will 2024 bring for trend following?07:11 - Inflation? Look to the Tooth Fairy08:33 - Industry performance update11:34 - Q1, Mark: Should trend followers size long and short positions the same?17:20 - Outperforming the benchmarks36:39 - The "secrets" of achieving great performance44:42 - Is bigger always better?52:43 - The importance of system diversification01:03:45 - Working out the optimal parameters01:08:14 - Crazy times in the cocoa market01:09:41 - 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

Legendary strategist Kiril Sokoloff, founder and Chairman of 13D Research, joins Alan Dunne in this episode for a whirlwind tour of where Kiril sees the risks and opportunities in global markets over the next decade. Kiril outlines the reasons behind his belief that the secular bull market in bonds is over and a secular bear market is now underway. They discuss implications of climate change decarbonisation, the ageing global economy, rising debt levels and the growing risk of a significant derailment of the global economy from protectionism. Kiril explains why he is bullish oil, copper, uranium and gold and why gold mining stocks are the cheapest asset on the planet and his top contrarian call. They discuss China’s current economic challenges and why Kiril remains upbeat on the longer-term outlook for China and Chinese stocks but why there may be even greater opportunities in India. -----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.Follow Kiril's work on 13D.Episode TimeStamps: 02:31 - Introduction to Kiril Sokoloff05:21 - Are we heading back to "normal"?11:17 - Will China become an inflationary force?14:30 - Is China still investable?17:05 - A Chinese confidence crisis18:45 - The outlook for inflation from a historical perspective23:13 - What is going on in the oil market?25:45 - What drives the shift towards solar energy in China?27:57 - The move towards nuclear energy29:55 - U.S vs. Europe vs. China33:12 - How to position for the next 20 years35:12 - Why is Sokoloff a fan of gold?39:13 - A move away from the dollar44:50 - Understanding the gold market49:05 - How will AI impact the economy?51:30 - India - the next China?53:34 - How will the decarbonization evolve?55:38 - Sokoloff's favorite contrarian calls57:50 - Sokoloff's process for generation ideas59:24 - Advice for other investors02:02:03 - 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

Andrew Beer returns to the show for a fascinating conversation, where we question the role of Bonds in today's environment, and review both current and historic performance, and what it takes to change investors minds about replacing bonds with managed futures. We also discuss why long-term timeframes might be better for most investors within Trend Following and why stock-picking are becoming less relevant due to shifts in the S&P500 structure. Lastly, we touch on the ETF space and how the investment industry is slow at adapting to change, whether democracy is on its last legs 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 Andrew on Twitter.Episode TimeStamps: 01:53 - A dark time04:24 - Industry performance update10:57 - Should we replace bonds with managed futures? (or vice versa)21:59 - What does it take to change investors minds?33:26 - No one can erase 2022, and that is important35:01 - A misleading narrative in the managed futures space38:30 - Long or short term - who performed the best?43:39 - Are stocks becoming less relevant?53:22 - An update on the ETF space56:25 - An existential crisis within equity hedge funds58:55 - Capitalism and the political discourse01:03:58 - Is democracy on its last legs?01:06:32 - 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

Frances Donald, Chief Economist and Strategist at Manulife Investment Management, joins Alan Dunne to discuss how the drivers of the economy and inflation are undergoing a structural shift and what this means for the economic outlook. We hear why Frances expects a recession in the US economy in 2024 and why the risks to her forecasts are on the downside. Frances outlines where she currently sees tactical opportunities in fixed income markets and why she expects equity markets to face headwinds as investors start to see “bad news as bad news” this year. The conversations delves into the big shift underway in the global economy, becoming more supply driven than demand driven and the implications this will have for inflation, monetary policy and fiscal policy over the medium term. -----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.Follow Frances on LinkedIn.Episode TimeStamps: 02:39 - Introduction to Frances Donald06:39 - What caused a pivot from the central banks?13:10 - Why were they wrong about their forecast?20:43 - Where are the weak spots?23:58 - Does recession calls even matter?27:34 - Frances' outlook for the economy39:21 - Are we heading into a structural shift?51:04 - Will things change in the next administration?53:33 - Are fixed income markets becoming more investable?59:35 - Advice for the other investors01:01:15 - 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, Mark Rzepczynski joins us to reflect on how the first month of 2024 has been treating investor. We also discuss how misinformation posses a major threat to the global economy and how some managers are moving away from price as the only data input, how speed plays a role within trend following and why it is important to be aware of a manager’s "personality". Lastly, we dive deep into principal component analysis and the factors that drive trend following performance, how trading more markets may produce better returns according to new research and how diversification can come in many different forms.-----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:01:09 - What has caught our interest recently?02:27 - Industry performance update06:16 - Misinformation - a global threat12:14 - The drivers of price17:17 - Finding the optimal lookback period22:48 - Managers have different personalities29:53 - What makes up good trend following performance?32:24 - Diving into principal component analysis39:32 - More markets = better returns?44:54 - Diversification can come in many forms49:37 - How will trend following perform in different cycles?54:34 - Thanks for listeningResources discussed in this Episode:LINK SI281: History Shows What to Expect from Trend-Following When Rates Are Being CutLINK: Insights from AlphaSimplexCopyright © 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 we talk to Amy Edmondson, Harvard Business School professor and author of the Financial Times 2023 Business Book of the Year: The Right Kind of Wrong, The Science of Failing Well. Edmondson argues we should cultivate an appetite for “intelligent failure” - events that may be painful but ultimately lead to innovation, personal growth and better relationships. This is difficult because we are hardwired to push failure “underground”, a bias that is often made worse by work cultures that punish failure in the name of accountability. Edmondson explains how we can overcome these obstacles using stories from her own life and findings from her career as a scientific researcher. -----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 Kevin on SubStack & read his Book.Follow Amy on LinkedIn and Read her Book.Episode TimeStamps: 02:22 - Introduction to Amy Edmondson10:27 - The importance of psychological safety15:04 - The different types of failure18:25 - Why do we fear to fail?22:54 - The idea of reframing25:04 - Practicing reframing27:06 - Has the way students work changed?30:25 - The dark side of the performance mindset32:40 - Integrating feedback the right way36:16 - The Stop. Challenge. Choose Method41:02 - The key aspect of failing well44:48 - How can we cultivate intelligent failure?50:35 - Conceptualizing excellence in a new way53:33 - Encouraging openness while maintaining intellectual property56:33 - A philosophical perspective01:00:36 - Key takeaways from 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

As we are getting closer to the 2024 U.S. Presidential election, Alan Dunne joins us to discuss how markets might be affected, should Trump win the election. We also answer a question from our community, in terms of how much you should consider allocating to Trend Following as part of a multi-asset portfolio and we discuss the historical differences between equity and managed futures drawdowns. Lastly, we dive into a couple of recent papers to find out whether stocks are the most optimal allocation for the long run, whether the next decade will be like the last one 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:01:04 - What has been on our radar recently?03:26 - The importance of liquidity06:39 - The global macro picture11:52 - How will markets be affected by the presidential election?16:10 - What about China?21:24 - Industry performance update24:04 - Q1, Anonymous: What would be a fair allocation to trend following in a diversified multi-asset portfolio?32:33 - Q1.1 Anonymous: Any resources or insights to help the selection process for UCITS funds37:29 - Equity versus managed futures drawdowns43:10 - Stocks for the long run - really?55:38 - Has it gone too far with the Magnificent 7's?57:28 - The outlook of the next decade01:02:32 - Thanks for listeningResources discussed in this Episode:LINK SI281: History Shows What to Expect from Trend-Following When Rates Are Being CutLINK SI280: Driving with the Rear-View MirrorLINK SI280: Stocks for the Long Run?LINK SI280: Dial Up Return, Not Risk: The Z-Shift FrameworkLINK SI280: Stocks for the Long Run? Sometimes Yes, Sometimes NoLINK: Insights from AlphaSimplexCopyright © 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

Casey Clark, President and CIO of Rockefeller Asset Management, joins Alan Dunne in this episode to discuss the mega trends shaping the investment landscape and asset management industry over the coming years. We hear Casey’s insights on what are the key traits of great investors, how Rockefeller evaluates aspiring portfolio managers and what makes a great investment process. The conversation delves into the changing macro landscape, the implications of a positive correlation between bonds and equities for allocators and why we may see a resurgence of value investing and greater adoption of alternatives in portfolios. We also delve into ESG, the diverging trends in ESG investing in the US and Europe and how the framework of ESG leaders and improvers is key to how Rockefeller thinks about incorporating ESG into their alpha generation process. -----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.Follow Casey on LinkedIn.Episode TimeStamps: 02:45 - Introduction to Casey Clark07:02 - How do Rockefeller Capital Management manage their assets?10:01 - What is their investment philosophy?12:04 - Who are their clients?12:45 - How do they build their strategies?14:24 - How are they setting themselves up for mega trends like AI16:55 - What is driving the ETF growth?17:32 - Their approach to evaluating managers21:49 - Having the right benchmark24:34 - What makes a good investment process?26:08 - How do they come up with new ideas?30:13 - Investing with ESG in mind34:30 - A constraint or opportunity?36:56 - Are we approaching a changing investment environment?41:55 - How mega trends will shape the macro landscape50:36 - A shift in the 60/40 portfolio?54:17 - Is there a place for alternatives?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

In this episode, I'm joined by Katy Kaminski, who delves into the nuances distinguishing momentum trading from trend following, emphasizing the importance of comprehending the underlying philosophy of a trading strategy. Katy sheds light on the concept of 'pure trend' and offers insights on identifying convergent patterns within a trend following approach. We also reflect on the peculiarities of 2023, with Katy sharing her perspective on why we might be entering 'the final phase' and her expectations of a "bumpy" rather than smooth or abrupt economic transition, among other insightful topics.-----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 Katy on LinkedIn.Episode TimeStamps:00:52 - A funny story from Katy02:34 - An important shout-out03:42 - A rare event in Denmark06:55 - Industry performance update08:10 - Thoughts on 2024 so far09:42 - The difference between momentum and trend following13:53 - Convergent vs. divergent strategies24:08 - What does "pure trend" mean to Katy?28:03 - What makes you a pure trend follower?32:53 - Looking back at 202337:48 - An unusual year43:22 - Discussing Katy's paper on fixed income47:43 - How were trend models positioned in the 1960's?51:11 - What does your position mean?54:40 - Next big bull market in commodities?56:10 - Thanks for listeningResources discussed in this Episode:LINK 279: From Bears to Bulls?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

Get ready for a powerhouse discussion as two titans of risk management, Dave Dredge and Cem Karsan, come together once again. These experts are renowned for their insights, and today, they're diving deep into what's unfolded since their last conversation and where the smart money should be in 2024. From avoiding pitfalls to uncovering lucrative opportunities, Dave and Cem have you covered. Tune in for a dynamic start to the year!-----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 Dave on LinkedIn.Episode TimeStamps: 02:37 - Looking back on our last conversation07:55 - Are markets looking too good to be true?14:04 - The importance of long volatility and owning convexity24:41 - Why is volatility compression normalizing?31:35 - A system under pressure38:48 - How is now different to the 1970's?42:09 - Can deglobalization be a good thing?53:00 - Where is the debt problem going?01:04:25 - Volatility and liquidity are opposite sides of the same coin01:09:08 - How Dredge is carrying out volatility sellingCopyright © 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 returns to the show to discuss whether there is a risk that the Trend Following risk premium could one day disappear and how he manages exogenous and endogenous risks in a trend following system, how he thinks of trading single stocks instead of stock indices in a diversified multi-asset trend program and what the minimum lookback period would be, in order to be considered “long term”. We also discuss the irony of the newly approved crypto ETF, how the nature of bitcoin has changed 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: 00:23 - What has caught our attention recently?10:14 - Industry performance update11:26 - Q1, Norbert: What is the long-term expectation for the trend-following risk premium as measured by the SG Trend Index after costs and its stability or sustainability?19:46 - Q2, Bruno: What is Rob's method for balancing endogenous and exogenous risk management and controls in a system29:36 - Q3, Oliver: What is Rob's take on trading single stocks instead of stock indecies in a diversified multi-asset trend program37:57 - Q4, Critter: What would the minimum lookback period be to be considered "long term"?41:59 - Q5, Chris: Can you share a couple names of software companies that do robust backtesting of trade strategies45:57 - Cypto ETFs have been approved!52:42 - Allocating to bitcoin01:04:31 - Looking into 202401:08:38 - 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 episode, Moritz Seibert is by Scott Kerson, the Head of GreshamQuant. Gresham is a commodity-focused investment management firm and GreshamQuant is their systematic trading arm. In 2017, they launched the ACAR Fund, an alternative markets trend following fund with an exclusive focus on commodities. Scott and Moritz discuss why they believes alternative markets to have better trending properties and higher Sharpe ratios within a trend following context and why they refuse to trade a larger portfolio which would also include the traditional futures markets most other CTAs trade. At the end, Scott also shares his outlook on the alternative markets CTA space with us. If you’re interested in alternative markets trend following, this is a valuable episode to listen to. -----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 Moritz on Twitter.Follow Scott on LinkedInEpisode TimeStamps: 02:22 - Introduction to Scott Kerson08:27 - When did AHL Evolution start and what is it?13:54 - What is an alternative market to Kerson and what differentiates it from other markets?20:25 - Why an exclusive focus on commodities?22:45 - What markets are Kerson trading and why?24:04 - Where are the hidden gems?26:31 - Why Kerson restrict the markets he is trading30:37 - Maintaining a neo-classical trend approach31:26 - A need for long-term?33:09 - What is the capacity of the markets?34:28 - What is the total AUM of alternative market CTAs today?35:30 - Their core research philosophy37:53 - The key barriers to entry39:52 - How have they gone through 2023?41:07 - Is there any market that stand out from the others?43:16 - The outlook of the alternative markets CTA space45:36 - 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

Cem Karsan joins us to kick off 2024, where we discuss what lies ahead, and where we question if the reassuring inflation picture with falling prices, rising employment, and decreasing interest rates, may be a mirage. What do recent trends tell us about the outlook for 2024 and is the inflation environment the true driver of the economy? Why does Cem believe we are moving towards stagflation and what implications will this have for the economy? How has the understanding of “normal” changed over time and how will the U.S election impact 2024? And finally, Cem explains why he believes we need crises 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.Episode TimeStamps: 01:30 - What has been on our radar recently?03:02 - Industry performance update06:15 - Q1, Rick: What are the implications and risks of the recent spike in SOFR?11:02 - What trends have we seen recently?16:53 - It all comes down to the inflation environment?24:49 - Hidden dangers for the younger generation27:29 - Soft landing + goldilocks = stagflation?32:19 - Under the hood of inflation34:23 - What is normal?39:49 - How the U.S election will change the world46:30 - Will 2024 lead to surprising moves in the ongoing conflicts?49:59 - Looking from a bigger perspective53:00 - Looking into the crystal ball59:05 - Teasing for the conversation with David Dredge01:03:58 - 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 episode Joe Prendergast, Strategic Advisor and Head of Investment Strategy at Goodbody joins Alan Dunne to discuss the challenges and opportunities in managing wealth for HNW investors, particularly businesses owners. Joe outlines his investment philosophy and why a 50-50 allocation between growth assets and defensive assets is still at the core of his approach to proving a “peace a of mind” portfolio for investors. They discuss risk management and how to manage drawdown risk and the shortfalls of focusing too much on volatility as a risk measure when managing portfolios for private investors. They delve into the current investing backdrop, how higher interest rates have impacted asset allocation decisions and discuss why Joe is structurally more upbeat on the opportunities in public markets in the US but more optimistic on the opportunities in Europe and Asia for private equity.-----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.Follow Joe on LinkedIn.Episode TimeStamps: 02:46 - Introduction to Joe Prendergast04:50 - Prendergast's learnings from working at Credit Suisse07:00 - What types of portfolios are Prendergast running?09:49 - Prendergast's investment philosophy13:59 - How has 2022 changed the asset allocation space?16:32 - Could we have another 2022?18:56 - Having metrics for success26:50 - Managing cash flow31:43 - Shooting for a higher return39:33 - Dealing with bumps on the road43:48 - Prendergast's experience with the hedge fund industry46:29 - Working as a Europe based FX investor51:10 - Balancing attractive earnings capabilities vs a higher valuation starting point55:13 - How Prendergast incorporates ESGs in his allocation59:46 - Advice for other investorsCopyright © 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 second part of our TTU Year-End special, we continue our conversation by discussing the challenge of defining non-trend strategies and the criteria for a good backtest, whether trend followers can afford to stand still in terms of research. We also discuss what is next for fixed income trading and we present our outrageous predictions for 2024. Happy New Year from all of us at TopTradersUnplugged!-----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 Nick on LinkedIn.Follow Alan on Twitter.Follow Katy on LinkedIn.Follow Andrew on Twitter and LinkedIn.Follow Cem on Twitter and LinkedIn.Follow Richard on Twitter.Follow Mark on Twitter.Follow Rob on Twitter.Episode TimeStamps:01:07 - Trend following in an unpredictable world09:50 - What is a considered as a good backtest?21:09 - How much change is too much change?28:50 - Our most important lesson in 202336:11 - What is the next phase of the fixed income trade?46:01 - Geopolitics and looking into 202455:42 - Should we go all out diversification?01:05:14 - Outrageous predictions for 202401:10:32 - Happy New 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