Podcasts about dunn capital

Of the two biggest problems quantitative traders probably face, the first is over-optimization and the second is likely finding inspiration for new ideas. In-depth interviews with market wizards surely has to be one of the best ways to learn quickly, avoid common pitfalls and find untold amounts of inspiration hidden between the lines. Listening to experts that have been at it for decades, for me anyway, is an incredible education. In this show I invite you to again spend over an hour with Bob Pardo on the ins and outs of his trading, his philosophy and his edge. And the best bit is, this is just part 1 of 2. In the second part I'm going to deep-dive walk forward analysis with him and I'm sure I'll be walking away with some highly practical tips and tricks. Bob's career spans several decades of evolving market dynamics, groundbreaking system development, and a philosophy rooted in adaptability and robustness. His journey—from early days on the trading floor to pioneering walk forward analysis and working with the likes of Solomon Brothers, Dunn Capital, Daiwa Securities & Goldman Sachs—offers a compelling narrative for quantitative traders seeking both inspiration and technical insights.Intra-day Futures Traders and others - grab a chamomile tea and enjoy!www.thealgorithmicadvantage.com for contacts and more.

My guest today is Marty Bergin, President of DUNN Capital Management, which manages over $1.5 billion and is one of the longest continually running trend following firms in the world. In today's episode, Marty reflects on the firm's 50-year journey in the trend following space and shares how a firm can not only survive but thrive over five decades. He touches on  the resilience required to weather market fluctuations, how an allocation to trend following may enhance portfolio performance, and the need for adaptability in strategies while staying true to your core principles. (1:20) Marty Bergen intro (2:34) Trend following & fee structures (5:01) Lessons from 50 Years in investing (13:05) Benefits of non-correlated asset classes (20:52) Institutional interest in trend following (24:31) Handling volatility (27:16) Views on cryptocurrencies (30:03) Considerations for allocator (32:05) Marty's most memorable investment ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Visit YCharts to download their 2024 Election Guide & start your free trial - be sure to mention "Meb" for 20% off your subscription (new clients only).  Follow The Idea Farm: Twitter | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  Learn more about your ad choices. Visit megaphone.fm/adchoices

In this latest edition of Marex Mespresso, Marex's Max Copestake and Richard Buttenshaw discuss the current world of systematic trading and, in particular, trend following with DUNN Capital's Niels Kaastrup-Larsen, who is also the founder of the Top Traders Unplugged podcast. 

When it comes to investing, there are countless strategies to choose from, each with its own set of pros and cons. One strategy that has stood the test of time is trend following, a technique that involves analyzing market trends and making trades based on those trends. Despite its proven track record, some investors remain skeptical about trend following, perhaps because they don't fully understand how it works or they've been burned in the past by unsuccessful trades. In this episode of The Derivative, Marty Bergin, CEO of DUNN Capital Management, discusses trend following's success and the impact of interest rates on other markets. He stresses the importance of diversifying portfolios by seeking uncorrelated markets and accepting losses as a crucial part of trend following. The episode also delves into Bergin's company's adaptive risk profile and different methods traders can use to adjust their risk profiles, providing valuable insights and predictions for the future. You won't want to miss these critical insights into trend following and predictions for the future. So what are you waiting for? SEND IT! Chapters: 00:00-01:51 = Intro 01:52-16:24 = RV Disaster Recovery, the History of DUNN, Bill Dunn & the System 16:25-30:23 = A long track record, an Adaptive risk profile, influences by interest rates & capturing the upside 30:24-36:47 = Good & Bad years: what's the driver? & Vol targeting 36:48-50:33 = Investors & the impact on trend following 50:34-57:55 = Replication of products & new technology 57:56-01:03:51 = What's the Future for Trend? For more information on Marty Bergin & DUNN Capital visit DUNNcapital.com Don't forget to subscribe to The Derivative, follow us on Twitter at @rcmAlts and our host Jeff at @AttainCap2, or LinkedIn , and Facebook, and sign-up for our blog digest. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit www.rcmalternatives.com/disclaimer

Today, we are joined by Marty Bergin, President of DUNN Capital Management, for a conversation on how and why they have continued to focus on Trend Following as their core investment strategy. We discuss the challenges of improving upon trend following and if it's possible to deliver it with a high Sharpe Ratio, what differentiates DUNN Capital from other trend followers and how they use research to stay well prepared. We also dig into their approach to trading futures and determining trends and where they see the weaknesses of trend following strategies, why they choose to look at the overall portfolio when managing the risk and why they think portfolio replication can be problematic. We also discuss how they manage risk and why they prefer to reside in the medium to long term when it comes to trend following, how they approach capacity and fees and why they choose to trade using a human touch rather than automated execution, what returns are achievable from trend following and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd 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.Find out more about DUNN Capital ManagementEpisode Timestamps:02:31 - Introduction to DUNN Capital Management 05:02 - Why Trend Following? 07:35 - What differentiates DUNN Capital Management? 12:06 - Hitting the right balance 14:34 - Reflecting on the performance in 2022 18:43 - The speed of systems 22:28 - Their research process 25:36 - Trading futures and determining trends 28:08 -...

James joins us on the show to discuss processes and the workings of capital management.

In this episode we answer emails from Visitor #1109, Keith and Brad.  We discuss Dunn Capital and Managed Futures funds, our podcast charity -- the Father McKenna Center --, and Mutiny Fund's "Cockroach Portfolio".And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.Additional Links:Dunn Capital:  Home - Dunn CapitalTop Traders Unplugged Podcast:  Top Traders UnpluggedMutiny Fund's Cockroach Portfolio:  The Cockroach Portfolio - Mutiny FundSupport the show

What do you do in a high-stakes game when the future is, by definition, entirely unpredictable? Shoutouts in this episode: Dr. Ben Hunt, Dunn Capital, Chesapeake Capital (Jerry Parker), Corey Hoffstein, Meb Faber, Rob Arnott, and Jess Bost! --- Send in a voice message: https://podcasters.spotify.com/pod/show/couragevconvention/message

Marty Bergin, president, Dunn Capital Management says that the absolute return on bonds is going to be negative during the coming inflationary environment, which will be scary for retirees who will lose purchasing power as they struggle with generating any real returns from fixed income. Bergin discusses inflation in terms of 'price discovery' -- the situation being caused currently by supply chain issues -- but also as a 'monetary phenomenon' resulting from the actions of central bankers, and notes that the latter is the bigger problem for consumers and investors. Tom Lydon of ETFTrends.com is also talking inflation today, picking a unique fund that hedges interest rate volatility and inflation as his ETF of the Week. Plus, Jacob Passy of MarketWatch discusses Robinhood's recently announced efforts to educate novice investors and Chuck answers a question about Worthy bonds -- something he owns himself -- and inflation-protected securities.

Download the “65 Investment Terms You MUST Know To Reach Your Financial Goals” for FREE by going to https://TodaysMarketExplained.com/ Trust us, this gift will be your cheat sheet for reaching your financial goals in the shortest time possible! This episode's guests are Martin Bergin and Jenny Kellams (https://dunncapital.com/). With COVID supply shortages and an easy-money policy contributing to soaring commodity and energy prices, inflation is becoming a serious threat to the value of your portfolio and future life savings. With over 45+ years of experience in the financial services industry, DUNN Capital is one of the few firms that profitably managed portfolios during the high inflation environments of the '70s and early '80s. Martin and Jenny are here to share proven commodity assets that perform well during inflation, the best investment strategies that bring the highest returns, and insight into the future of our economy, giving you a valuable edge and peace of mind during these uncertain times. Follow @TodaysMarketExplained on TikTok, Instagram, and YouTube to see short videos of all the best and most valuable moments from this episode! Connect with Brian Kasal and TME: To see the complete show notes, specific links to everything mentioned, and videos of the best moments from the episode please go to https://todaysmarketexplained.com/ Follow TME on TikTok: https://www.tiktok.com/@TodaysMarketExplained Follow TME on Instagram: https://www.instagram.com/TodaysMarketExplained Subscribe on YouTube: https://www.youtube.com/channel/UCYjCaTkX698mc6yAFaFz4tg Like TME on Facebook: https://www.facebook.com/TodaysMarketExplained Follow TME on Twitter: https://twitter.com/PodcastTME DISCLAIMER: This podcast is provided by FourStar Wealth Advisors for the general public and general information purposes only. This content is not considered to be an offer to buy or sell any securities or investments. Investing involves the risk of loss and an investor should be prepared to bear potential losses. Investment should only be made after thorough review with your investment advisor considering all factors including personal goals, needs and risk tolerance. FourStar is an SEC registered investment advisor that maintains a principal business in the state of Illinois. The firm may only transact business in states in which it has filed or qualifies for a corresponding exemption from such requirements. For information about FourStar's registration status and business operations please consult the firm's form ADV disclosure documents, the most recent versions of which are available on the SEC investment advisory public disclosure website at www.adviserinfo.sec.gov

In today's episode, Jason Buck is joined by Stefan Wintner of https://dunncapital.com/ (DUNN Capital), to discuss volatility as an asset class, the evolution of the VIX from its inception until now, some of the mechanics behind the VIX, the relationship between the VIX and the S&P 500, some thoughts on ‘volatility relative-value' trading, the reliability of the VVIX, building and running models during different market environments, thoughts on kurtosis and skew, and volatility as a necessary component for a large Trend Following firm.  In this episode, we discuss: Volatility as an asset class of its own The journey of the VIX from its early days until now Analysing the relationship between the VIX and the S&P 500 What's known as volatility relative-value trading The usefulness of the VVIX Operating models during different market and economic environments Kurtosis and skew The need for Volatility strategies as part of a diversified investment portfolio Follow Niels on https://twitter.com/toptraderslive (Twitter), https://www.linkedin.com/in/nielskaastruplarsen (LinkedIn), https://www.youtube.com/user/toptraderslive (YouTube) or via the https://www.toptradersunplugged.com/ (TTU website). IT's TRUE

Jerry Parker joins us on the show today to discuss why CTAs could be mistaken in excluding single stocks from their strategies, the possible benefits of having exposure to multiple trading systems, why price action is more important than predictions derived from fundamentals, recommended books for learning about Trend Following, the differences between paper-trading and disciplined execution of real trades, comparing Bitcoin futures to commodity futures, and the extent of simplicity a good trading system should have. If you would like to leave us a voicemail to play on the show, you can do so here. Check out our Global Macro series here. Learn more about the Trend Barometer here. IT's TRUE

Jerry Parker joins us on the show today to discuss why CTAs could be mistaken in excluding single stocks from their strategies, the possible benefits of having exposure to multiple trading systems, why price action is more important than predictions derived from fundamentals, recommended books for learning about Trend Following, the differences between paper-trading and disciplined execution of real trades, comparing Bitcoin futures to commodity futures, and the extent of simplicity a good trading system should have. Also check out my interview with Turtle Trading legendary mentor Richard Dennis https://www.youtube.com/watch?v=94nUnXsYpLY (here). Follow Niels on https://twitter.com/toptraderslive (Twitter), https://www.linkedin.com/in/nielskaastruplarsen (LinkedIn), https://www.youtube.com/user/toptraderslive (YouTube) or via the https://www.toptradersunplugged.com/ (TTU website). Follow Jerry on https://my.captivate.fm/@RJParkerJr09 (Twitter). IT's TRUE

Today, Mark Rzepczynski returns to the show to discuss how Trend Following allows investors to own more risky assets, Systematic Global Macro versus Trend Following, the process of how an investor digests new information, classical Trend Following versus modern Trend Following with AI methods, whether rock-star hedge funds such as ARK Invest can end up being too greedy when seeking AUM, why it can be a good idea to avoid timing the different exposures of your portfolio as much as possible, some of the possible reasons behind Dunn Capital's successful near 50-year track record, and thoughts on position-sizing in relation to historic volatility. In this episode, we discuss: How a Trend Following approach allows safer access to risky markets The differences between Systematic Trading based on macro data versus based on price-only How a top trader should efficiently process new data Modern AI-based Trend Following versus classical Trend Following Whether the biggest hedge funds in the world fall victim of being too greedy for AUM Why you should avoid 'timing the market' The possible secrets of success behind Dunn Capital's near 50-year track record Follow Niels on https://twitter.com/toptraderslive (Twitter), https://www.linkedin.com/in/nielskaastruplarsen (LinkedIn), https://www.youtube.com/user/toptraderslive (YouTube) or via the https://www.toptradersunplugged.com/ (TTU website). Follow Mark on https://twitter.com/mrzepczynski (Twitter). IT's TRUE

Today, Mark Rzepczynski returns to the show to discuss how Trend Following allows investors to own more risky assets, Systematic Global Macro versus Trend Following, the process of how an investor digests new information, classical Trend Following versus modern Trend Following with AI methods, whether rock-star hedge funds such as ARK Invest can end up being too greedy when seeking AUM, why it can be a good idea to avoid timing the different exposures of your portfolio as much as possible, some of the possible reasons behind Dunn Capital’s successful near 50-year track record, and thoughts on position-sizing in relation to historic volatility. You can find Mark’s latest writings here. If you would like to leave us a voicemail to play on the show, you can do so here. Check out our Global Macro series here. Learn more about the Trend Barometer here. IT's TRUE

On today’s show, we have a veteran of the finance industry, Mr. Niels Kaastrup-Larsen. We discuss how simulations of trend following work together with an equities portfolio, and how models built on historical data perform in a year with a pandemic that we have never seen before.Niels has been part of the hedge fund industry for more than 25 years. Throughout that period of time, he's implemented a trend-following approach to investing. IN THIS EPISODE, YOU'LL LEARN:Why trend following has a place in any diversified portfolio? How rule-based strategies work in a market when you don’t have historical data If trend following can give you returns not affected by the low-interest-rate environment How to best measure risk and returnBOOKS AND RESOURCESPreston and Stig’s interview with Niels Kaastrup-Larsen about Trend FollowingNiels Kaastrup-Larsen’s free guide and free book about trend followingListen to Niels Kaastrup-Larsen’s popular podcast, Top Traders UnpluggedNiels Kaastrup-Larsen’s interview episode with Preston about the failure of the dollarHow much Dunn Capital has outperformed the S&P500 since 1974Check out our top picks for the Best Investing Podcasts in 2020Browse through all our episodes (complete with transcripts) hereSupport our free podcast by supporting our sponsorsGET IN TOUCH WITH STIG AND PRESTONStig: Twitter | LinkedInPreston: Twitter | LinkedInHELP US OUT!What do you love about our podcast? Here’s our guide on how you can leave a rating and review for the show. We always enjoy reading your comments and feedback!

In today’s show, we discuss the benefits of not taking profits too early during huge price moves, how a Trend Follower might be trading Bitcoin, if March 2020 may have impacted a Trend Follower’s approach to the markets, why the S&P 500 could be considered just as much of an ‘alternative’ market as Iron Ore, our most memorable trades, Bitcoin as a great diversifier in a Trend Following portfolio, and how a retail trader can gain access to managed futures.  Questions we answer this week include: What prompted Moritz to place his Tesla short trade recently, and how did it play out?  What are your views on stop-losses? If you would like to leave us a voicemail to play on the show, you can do so here. Check out our Global Macro series here. Learn more about the Trend Barometer here. IT's TRUE

Today, we’re delighted to welcome Roberto Osorio, Vice President, Trading Systems at DUNN Capital, onto the show. Niels pitches Roberto some of our most fiercely debated topics so far, such as the optimal amount of markets to trade, diversification in all of its forms, the pros & cons of Volatility Targeting, how to accurately recognise model decay, Black Swan strategies and why they maintain popularity regardless of performance, the best look-back period for Trend Following strategies, and if today’s speed of information flow has led to stock market crashes & fast recoveries being the new normal. Check out previous episodes with Niels & Roberto (featuring Alex Greyserman & Katy Kaminski) here, and here. If you would like to leave us a voicemail to play on the show, you can do so here. Learn more about the Trend Barometer here. IT's TRUE - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book "The Many Flavors of Trend Following" here. Send your questions to info@toptradersunplugged.com Follow Niels on Twitter: @TopTradersLive And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast.   Episode Summary 0:00 - Intro3:07 - Macro recap from Niels8:49 - Weekly review of returns9:26 - Interview with Roberto Osorio12:03 - Niels: Can you help settle the debate of how many markets are optimal to trade?19:00 - Niels: What are your thoughts on Volatility-targeting?30:41 - Niels: How do you recognise model decay?36:23 - Niels: What do you think is the best look-back period for Trend Following models?44:40 - Niels: What is your view on the most effective ‘type’ of Trend Following model?50:43 - Niels: What makes DUNN Capital so unique?55:52 - Performance recap Subscribe on:

In this episode, you'll learn:· Why should you have trend following in a diversified portfolio? · Why trend following and value investing complement each other well· How to follow a rule-based strategy and when you should change your rules· Why the best trend following sector is commodities · Why trend following is interesting at this point in time of the interest rate cycleBOOKS AND RESOURCES MENTIONED IN THIS EPISODENiels Kaastrup-Larsen's free guide and free book about trend followingListen to Niels Kaastrup-Larsen’s popular podcast, Top Traders UnpluggedNiels Kaastrup-Larsen’s interview episode with Preston about the failure of the dollarHow much Dunn Capital has outperformed the S&P500 since 1974 CME group white paper Lintner Revisited

My guest today is Jenny Kellams, the Director, Investment Strategy at Dunn Capital Management. She is primarily responsible for the marketing and distribution of DUNN strategies to family offices and financial advisors. Jenny and I discuss all that is Dunn Capital — including how she arrived to the firm. Inspirational! The topic is Trend Following. In this episode of Trend Following Radio we discuss: Trend Following Trading Big Unexpected Event Trend Following Strategy Human Nature Trading Portfolio Fear and Greed Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Niels Kaastrup-Larsen is the managing director of DUNN Capital (Europe) and heads up the business development in Europe and Asia. Niels has been in the managed futures business since 1990. Holding management positions at several leading commodity trader advisors and has helped investors place more than $2 billion in trend following strategies. Niels is the founder and host of the world's leading podcast within quant-based investment strategies, Top Traders Unplugged as well as the host of CME Group Managed Futures Podcast.   “I certainly had to realize that to overcome emotions in the investment world and be rational and critical and to preserve those kinds of thinking. Then becoming a quant or a rules-based investor was the way to go to automate things. So you’ll know exactly what you want to do and have a plan.” Niels Kaastrup-Larsen   Worst investment ever Doing what he was trained to do When Niels started as a young trader, his job was partly to provide liquidity to the clients of the bank he was working for. He would inherently be speculating during the day or even during the week by holding positions in bonds that his bank was making markets in. And so, the mantra that many people know as buying low and selling high was really what he was trained to do, but on a discretionary basis. The fear of the unknown When there were big changes, Niels found out very quickly how difficult it was to figure out where the low was because the low may be very different in reality to what he thought. So, because of not knowing what he did not know, he certainly had quite a few very painful days during that time. The power of momentum What he did not know at the time when he was just a young trader was the power of momentum and how important it is to follow the overall trend in the market, not trying to go against the market trend. Lesson learned Do not listen to your gut feeling Our gut feeling is more of a warning system to keep us safe. But cannot be used as a guide or measure for making financial decisions. Do not be guided by your emotions These emotions would sometimes lead us doing the opposite of what we should. We end up becoming more risk-seeking towards the end of a bull market and be very conservative just before the bear market is coming to an end. So we end up being guided by emotions, which are complete disasters when it comes to making financial decisions. Actionable advice Be open-minded and trust the evidence. Do proper research. Niels has advised watching some Ray Dalio videos. No. 1 goal for the next 12 months Niels’s focus will be continued education, helping investors build safer and better performing portfolios through his work at DUNN Capital and his podcast, Top Traders Unplugged. Parting words   “We should all remain students of life and keep expanding our knowledge.” Niels Kaastrup-Larsen   Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr. Deming’s 14 Points Andrew’s online programs Valuation Master Class Women Building Wealth The Build Your Wealth Membership Group Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Niels Kaastrup-Larsen LinkedIn Facebook Twitter Podcast Website Connect with Andrew Stotz astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast  

In this week's episode, we discuss why Sharpe Ratios should be taken with a pinch of salt, the benefits of using a Trading Coach, why consistently aligning with the best odds may be a better strategy than trying to predict future price moves, DUNN Capital’s recent award from HedgeWeek magazine, why ‘the standout hedge fund traders this year have been computer-driven Trend-Followers', and why Risk Management is more important than strategy or philosophy.  Questions answered this week include: Why are commodities seen as more risky than equities?  Can you use Options in a Trend Following strategy? Should you keep your stop-loss proportionately the same across different time-frames?  Are there any markets to be avoided by new managers? If any listeners would like to leave us a voicemail message to play on the show, you can do so here. Register your interest for our upcoming live event in New York here. You can download your free guide to Systematic Investing, and subscribe to our mailing list by visiting TopTradersUnplugged.com Get a free copy of my latest book "The Many Flavors of Trend Following" here. Send your questions to info@toptradersunplugged.com Follow Niels, Jerry & Moritz on Twitter: @TopTradersLive, @RJparkerjr09 and @MoritzSeibert And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast. Episode Summary 0:00 - Intro 1:05 - Reading of various podcast reviews 3:00 -  Macro recap from Niels 6:20 - Weekly review of returns 10:15 - Discussion of Mercer Trend Following paper 18:15 - Live event update 10/26/19-10/27/19; Special Guest: Denise Shull 20:35 - Top tweets 36:10 - Questions 1/2/3: Eric; Do you hedge with OTM options? Can you use options to trade trends? Will HFT algos negatively impact TF systems? 41:40 - Question 4: Sam; Should stop distance (ATR multiple) adjust with the trend speed? 47:50 - Question 5: Noobe; Are there any contracts a new manager should avoid? 54:20 - Question 6: Clay; With minimal trading activity, what do TF do all day? 1:00:50 - Question 7: Giangitano; Should you have real stop orders in the market (vs stop alerts)? 1:09:20 - Performance recap 1:10:15 - Closing thoughts Subscribe on:

In Episode 144 we welcome Marty Bergin. Marty begins by going through his background, the history of Dunn Capital and the relationship he had with Bill Dunn, the founder of Dunn Capital. That relationship opened the door for Marty to ultimately work or Bill, and to later become the owner of the firm as part of a transition plan. Next, Meb asks Marty to describe trend following as it relates to Dunn. Marty describes that trend following is pretty basic, but there’s magic in how you develop a portfolio with the strategy. At Dunn, Marty and his team rely on an adaptive trend-following system. From a portfolio management perspective, they look for markets with enough volume to trade in 55 markets across commodities, currencies, interest rates, bonds, equities, and volatility with an equal allocation of risk buckets for each market they trade. Meb follows that with a question about how it all fits together on a high level. Marty explains the program is not restricted in any way, and multiple methods are used for determining noise. He adds that when looking at possibilities, they are looking at a few days all the way out to a couple of years, and update weekly, yet he doesn’t believe there would be a major drift in performance if it were updated on a 12 or 18 month basis. The program gets into positions slowly, and is designed to get out quickly to protect downside. The conversation then transitions into how the system has evolved over time. Marty walks through the core tweaks Dunn has undergone to adapt and improve the trading system, from looking at trading from a market-by-market basis, to applying the same techniques to every market, to taking a fresh approach to risk.   Meb then asks about what Dunn’s strategy looks like during various environments. Marty goes on to talk about how a trend follower is looking for directional volatility that is consistently applied, and the difficulty of environments like 2018 when trend followers can become overweight and get caught in corrections that can lead to aggressive reversals. He follows that with some insight into thinking about the current environment through the lens of Dunn Capital, and talks about risk metrics setting up to look conducive for trend following. Meb and Marty wind down with a chat about how Dunn is very focused on education. They also touch on Dunn’s unique fee structure, and the place for a strategy like Dunn’s in investment portfolios. All this and more in episode 144.

  “As an industry, I think we tend to overcomplicate what trend following really is.” - Niels Kaastrup-Larsen (Tweet) We're changing things up on today's episode of the podcast: we have with us Frank Conway from the Economic Rockstar Podcast interviewing Niels about trend following strategies, asset allocation, and more. Listen in to find out what changes need to be made in the trend following space, the importance and benefits of your asset allocation when it comes to your investments, and new publications that can take you farther in mastering trend following and managed futures. Subscribe on: In This Episode, You'll Learn: Why Niels has worked hard to keep his explanation of trend following as simple as possible Why at the end of the day, all investors are trend followers What really sets one trend follower apart from another “People overestimate ideas and underestimate execution.” - Niels Kaastrup-Larsen (Tweet) How trend following techniques have evolved over time What traits Niels sees in the company he works with as most important in their 40+ year success The challenges and difficulties of trend following Why trying to do it yourself in trend following can hurt rather than help Why successfully executing a trend following strategy is not something that Niels believes everybody can or should do “Very often, the seduction of safety is often more dangerous than the perception of one's certainty, and I think people need to be aware of that when they decide on their investment strategies.” - Niels Kaastrup-Larsen (Tweet) Why despite their successes, many trend followers feel an embarrassment in showing their track records How the right asset allocation can build safer and better performing portfolios Why it's important to have "skin in the game" as an investment manager The importance of COI versus ROI What Niels thinks of cryptocurrencies and how it relates to trend following “You don't need to be perfect to get started with trend following; you really just need to get started.” - Niels Kaastrup-Larsen (Tweet) Why DUNN Capital trades the VIX and its importance in their portfolio What inspired Niels to write his recent books on trend following and managed futures The purpose behind Niels outreach, whether it's podcasts, books, newsletters, or anything else What Niels hopes people will get out of his books Connect with our guest: Learn more about Niels Kaastrup-Larsen and DUNN Capital Download your own FREE copy of Niels' new book with Hari Krishnan, "The Many Flavors of Trend Following" Find out more about Niels' new publication with Katy Kaminski, "How To Master Managed Futures" “I truly believe [trend following] is the most dependable and consistent investment strategy.” - Niels Kaastrup-Larsen (Tweet)

Niels Kaastrup-Larsen is Managing Director (Europe) of Dunn Capital. He is the founder and host of the podcast Top Traders Unplugged and also hosts the CME Group's podcast Managed Futures. Check out all the links, books and resources mentioned in this episode at www.economicrockstar.com/niels2 Check out www.patreon.com/economicrockstar for ways in which you can help support the podcast

My guests today are Martin "Marty" Bergin and James Dailey. Bergin is the President and owner of DUNN Capital Management. He began working with DUNN in 1997 and took over the day-to-day operations of the firm in 2007. He became owner in 2015 (Bill Dunn remains Chairman). James Dailey became CEO of Dunn Capital in March 2016. DUNN has a track record that spans over 40 years. The topic is Trend Following. In this episode of Trend Following Radio we discuss: End of the new normal Markets reverting Long term volatility vs Short term volatility Crypto currency Risk management Price action trading Diversification in portfolio Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Martin “Marty” Bergin and James Dailey are on the podcast today. Bergin is the President and owner of DUNN Capital Management. He began working with DUNN in 1997 and took over the day-to-day operations of the firm in 2007. He became owner in 2015 (Bill Dunn remains Chairman). James Dailey became CEO of Dunn Capital in March 2016. DUNN has a track record that spans over 40 years. Today’s podcast was recorded the week after the February 2018 volatility. Inevitably, when there is volatility in markets, machines are blamed. DUNN Capital is a trend following trading firm who uses computers for everything they do. They know fintech well. That said, there is a difference between DUNN Capital and “the machine” traders. DUNN Capital trades from a higher volatility perspective and it has worked out well for them. They don’t charge management fees, but rather are completely incentive fee based. Further, at DUNN Capital they don’t reduce volatility for the sake of possibly reducing bad events–they still want strong profits and that is the only way they make money. Unfortunately, investors always remember drawdowns and they do try to minimize those without compromising their core system. Finally, and this a surprise for many, DUNN Capital’s office is quiet and not very exciting. Trend following after all is about discipline and blocking out all of the media noise and information. DUNN’s investors get that. DUNN is managing money for the long term, not short term. Their trend following is geared toward data and everything in their research shows that long term trend following trading is their best opportunity.

  “I really feel that the one missing piece in our program is short-term timeframe. If I could find something that worked in the short-term timeframe, I would love to add it to the program in some way.” - Marty Bergin (Tweet) Katy Kaminski and I continue our conversation with Marty Bergin, and discuss his philosophy behind DUNN Capital's success, and why many investors don't understand trend following strategies. In this episode, we will discuss what investors and trend followers should be focusing on, and what risks excessive regulation may lead to for the industry. Thanks for listening and please welcome our guest Marty Bergin. Subscribe on: In This Episode, You'll Learn: How DUNN views it’s expansion into more markets “The other adage is that managed futures can’t make money in a rising interest rate environment. That just doesn’t make any sense to me.” - Marty Bergin (Tweet) Why their NO management fee policy has helped DUNN throughout the years How DUNN will adapt to the ever changing market environment What investors have a hard time understanding about trend followers “The fact that we lost money for six straight months in 2017 never has happened in the history of Dunn, but in that period of time we lost 5 percent. In trading at the volatility levels that we trade at, that’s phenomenal.” - Marty Bergin (Tweet) Marty’s goal over the next ten years What Marty fears most in his work at DUNN The most important question investors should be asking themselves right now “I don’t think people understand in a firm how much the dynamic can change when you bring in new people, and we spend a lot of time researching for people we bring into the firm.” - Marty Bergin (Tweet) Why Marty believes trend following strategies should be more widely available Marty’s advice to young investors and aspiring trend followers   Connect with DUNN Capital: Visit the Website: www.dunncapital.com Call DUNN Capital: + 1 (772) 286-4777 E-Mail DUNN Capital: info@dunncapital.com   “Most of the key things about what we do are things I learned from Bill, and some of them aren’t even accepted in the industry.” - Marty Bergin (Tweet)

  “[Bill] thought he was the only person [using trend following], and to tell the truth, I’m not sure that he was completely confident that it worked." - Marty Bergin (Tweet) Our guest today is the President and Owner of DUNN Capital. Having a deep background in finance and business management, Marty oversees all mission-critical operations of the firm, including the firm’s research and development efforts as well as the construction and management of the firm’s managed futures portfolios. In our conversation, my co-host Katy Kaminski and I discuss with Marty DUNN Capital's client-first business model, why he believes that their Adaptive Risk Profile has been a game-changer since its introduction in 2013, and how DUNN Capital has evolved since he joined more than 20 years ago. Thanks for listening and please welcome our guest Marty Bergin. Subscribe on: In This Episode, You'll Learn: How Bill Dunn started DUNN Capital “Bill and I are true believers that it’s the people that makes the business.” - Marty Bergin (Tweet) How Marty minimizes risk down to the base level What lessons Marty has learned from his time at DUNN Capital Why Marty believes being client-centric is key to DUNN Capital’s success “Bill always said he was on the same side of the table as the client.” - Marty Bergin (Tweet) How research plays a larger role within DUNN Capital than most people think How DUNN Capital has changed since Marty joined How Marty views return dispersion “If all the stocks are highly correlated, aren’t you really only invested in one thing?” - Marty Bergin (Tweet) Why certain “diverse” stock choices are not very diverse What makes DUNN's Adaptive Risk Profile unique The one thing that is missing from Marty’s trend following program   Connect with DUNN Capital: Visit the Website: www.dunncapital.com Call DUNN Capital: + 1 (772) 286-4777 E-Mail DUNN Capital: info@dunncapital.com   "The big houses make more money off the management fee than they ever will off the incentive fee, and they know that.” - Marty Bergin (Tweet)

David Ricardo would be just as successful today trading as he was trading 100’s of years ago. He understood, from a trend following perspective, that there is no value in prediction. When trading, you take an entry signal, get into the market, and ride the trend. It is impossible to know with certainty where the market will go, so you trade with the market rather than against it. Some think they have a grasp on bitcoin, but there is no way to understand the “why” behind it or any other market. You don’t have to be an expert to trade bitcoin, gold, coffee, or cocoa – just have rules in place and start trading. Small losses will happen but they are balanced: home runs – small losses = extreme gains. Do the homework, put rules together and go. Still uneasy about diving into trend following? Check out performance from trend following traders such as Dunn Capital and Winton Capital. Much can be learned from information in public trend following track records. In this episode of Trend Following Radio: Time series momentum Cross sectional momentum Definition of managed futures Diversification Trend following diversification Drawdowns

Fear drives all in today’s world. Two operations who have not let fear dictate their trading are Berkshire Hathaway and Dunn Capital. Both have 40+ year track records that should be studied. What was their system? How has it worked? If you look at the month by month and year by year of these two much can be learned. Both track records have not just gone up, up, up–they have had massive drawdowns (at least by the definitions of mortals) and still they have been able to persevere. No matter who you are, the ability to adapt to the markets is mission critical. In this episode of Trend Following Radio: Drawdowns Dunn Capital performance Warren Buffett performance Risk management Ego in trading Cognitive dissidence Efficient market hypothesis Black Swans Transparency Critics; Trolls!

Martin “Marty” Bergin is the President and owner of DUNN Capital Management. Bergin began working with DUNN in 1997. He took over the day-to-day operations of the firm in 2007 and became owner in 2015 (Bill Dunn remains Chairman). DUNN has an outstanding track record that spans over 40 years. Bergin first met Dunn while he was tasked with doing an audit of the company over the course of 7 years. Once the audit was over, Dunn offered him a job. There has been ongoing dialogue since 2008 that trend following has been a negative. DUNN Capital’s track record does not reflect that. They have been doing things different. They are 100% systematic. They do not have an army of traders staring at screens. All emotion has been removed from the equation and traders use algorithms that have already been put in place to make day to day trades. They take positions strictly based on what the system tells them to do. Managed futures (read: trend following) was the only strategy that stood out during the 2008 crisis. Historically DUNN has been able to outperform the S&P over their 40 year track record. I argue that when looking at their performance side by side with S&P performance, there could be a whole class taught on the chart. Bergin says that with all the changes in America (mostly political) there is no telling if the new policy’s that are said to come will crash the S&P or double the S&P. He has no way to predict the future and neither does anyone else. In this episode of Trend Following Radio: Management fees How the financial industry works Systematic trend following strategies Trading off of price data The advantages of diversity in your portfolio

Martin Bergin is president and owner of DUNN Capital, a Commodity Trading Advisor (“CTA”) firm based in Florida. In this episode of Strategic Investor Radio, Mr. Bergin and host Charley Wright discuss DUNN Capital’s history – including that of its colorful founder – as well as the firm’s trading methodology and how the futures market works in general.   DUNN Capital boasts a research team that includes four PhDs. The firm trades in 54 different futures markets across seven sectors: energy, metals, currencies, interest rates, bond indices, equity indices, and agricultural products. Bergin says he does not recommend individual investors buy or sell futures contracts themselves – since only a deposit of 10% is required in most cases, a move of greater than 10% in the wrong direction could incur a loss of greater than 100% of the initial investment. Instead, he recommends investing with quality CTA firms, which are able to diversify risk across a multitude of markets and contracts.

Michael Covel speaks with K.D. Angle on today’s podcast. Angle began trading the futures markets in 1979 and developed his first rules-based trading strategy in 1984. In 1985 he created a newsletter called “The Timing Device” that specialized in making specific trade recommendations in the futures markets. After 1995, Angle retired the newsletter and went into asset management on a full time basis while investing the majority of his time and resources into researching and developing rules-based strategies. Covel and Angle discuss Angle’s father’s history, who turned a two million dollar gold investment into a hundred million in just six months, and the lessons learned; whether there was an early trend trading influence beyond looking at Angle’s father’s career; Angle’s experience with Dunn Capital; freedom of location; 100% rule-based and systematic trading vs. adding discretionary elements to your system; and why the client part of the business is so important. For more information on K.D. Angle, visit anglecm.com. Trend following DVD? Go: www.trendfollowing.com/win.

Can you implement well established hedge fund strategies in a systematic way?Future Value Capital has been researching this for years, before they started trading. They are unique because of how they simplify and automate complex Risk Premia.But we aren't the best at explaining their systems. Roman Lutz, the Chief Financial Officer of Future Value Capital will explain it all in this interview.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You'll Learn:About Merger Arbitrage and How investors can ProfitWhat criteria they look for in mergers, such as Market Cap, Deal Size, Liquidity etc.What currency markets Future Value Capital entersThe app. 15 strategies they use and how many sub strategies they may haveThe origin stories of where the Future Value Capital strategy derived from.Understanding the typical way to build a derivative businessWhy the average correlation of a hedge fund with equities has shifted from 0.6 to 0.9 from the 1990's to today.How Scottish Whiskey tasting can kickstart long term business relationshipsAddressing the “Black Box” label that many systematic programs hasWhat environment Future Value Capital's systems are best suited to operate withinThe business structure of Future Venture Capital and the alliance with Trium CapitalAbout the post Madoff and additional regulatory environment investors are operating inHow Roman Lutz developed the shared business management and split the overhead cost with other emerging fund managersThe negative side effects of sharing hedge fund management business practices with other firmsA ballpark figure for the cost of being part of the Trium Manager Alliance and get the services required to be able to operate as a regulated and well run firmHow Roman and partners develop new plans in regards to where the economy is going and how to develop plans to manage funds going forwardHow merger arbitrage and volatility arbitrage connect implied and realized volatilityHow to buy realized volatilityWhen to deploy and when not to deploy the realized volatility trades (when volatility starts to trend)Main categories from a strategy point of view – Trend Following for exampleHow Future Value Capital uses trend following-----ATTENTION TTU TRIBE : SIGN-UP for Rick Rule's Symposium: Once in a life-time natural resource insights from the BEST investors in the world via a first-class livestream or Live event!Resources & Links Mentioned in this Episode:Listen to the past episode with Marty Bergen from Dunn Capital mentioned in regards to the higher correlation between traditional alternative investment space and the traditional assets.Lars Jaeger owner of Alternative Beta Partners – Wrote extensively about the lack of alpha to people hunting it. 4x more assets are looking for alpha than alpha is available in the market.Listen to our previous guest Karsten Schroeder from Amplitude Capital on the value of systematic trading vs. discretionaryLearn more about the

What are you going to do to differentiate yourself from everyone else in the industry?That's the question Marty Bergin would ask the next guest on Top Traders Unplugged.Welcome back for the second part of our interview with, Marty Bergin.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You'll Learn:How trade decisions are generated and executed at DUNN Capital ManagementThe way Marty and DUNN manage the emotional challenges of trend followingWhy many CTA firms are giving allocations to long equities and the results of that decisionHow significant drawdowns help to make firms strongerDUNN Capital Management's approach to researchHow DUNN Capital identifies and reacts to issues with external/strategic alliance situationsPortfolio development and decision-making at DUNN CapitalOn the importance for personal ownership in a CTA firmLearn about Michael Covel's interview with Harry MarkowitzThe importance (or lack of) of being located in a large financial hubDUNN Capital's investor focused fee structureWhy European CTA's seem to be out growing the American firmsWhat does it take to become a great CTA in today's environment-----ATTENTION TTU TRIBE : SIGN-UP for Rick Rule's Symposium: Once in a life-time natural resource insights from the BEST investors in the world via a first-class livestream or Live event!Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd 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.Learn more about

Michael Covel discusses a white paper titled "Two Centuries of Trend Following". Covel likes the fact that when he goes through their references, it's all other academic white papers. Then, sandwiched in between the other white papers, "The Complete TurtleTrader" is referenced. Covel posted this on Twitter and received a response in which someone wanted to talk about the last couple of years of trend following performance. Trend following performance is going to differ depending on the trader, what’s in their portfolio, the type of system they’re trading, and the risk they’re taking. There isn't some one magical elixir. Covel believes that you’re better off in the long-term trend following world, rather than in the short-term world. Still, the person Covel interacted with on Twitter was not concerned with the two centuries of trend following that the white paper talked about, but rather, "what have you done for me lately?" Covel moves on to talk about a recent monologue he did concerning a Yahoo Finance article in which he questioned the vocabulary of the talking heads. Covel looks at the responses to that episode, and then the larger view: Most people don’t have the foggiest clue what trading is; what Wall Street is. They’ve been listening to nonsense in the media. The lure is still out there. The buy and hold lure is still out there. But even worse is that "get rich quick" attitude. People don’t understand it as a science. Covel looks at at "The Wolf of Wall Street" and analyzes a segment from the movie. Covel uses it as an example of how most people view money-making and Wall Street. People don’t think like Covel’s podcast guests and writing subjects; they don’t think like Marty Bergin at Dunn Capital or Ed Seykota. This is what Covel is up against. He wants people to understand the science of trading. Covel also notes that his old newsletter system is being changed. If you want to continue to receive Covel’s newsletter, go to trendfollowing.com/subscribe-now. Want a free trend following video? Go to trendfollowing.com/win.

My guest today is Martin Bergin, CEO of Dunn Capital Management. Bill Dunn and Dunn Capital were famously profiled in Covel's book Trend Following and they have a 39 year track record of trend following performance. The topic is Trend Following. In this episode of Trend Following Radio we discuss: The early stages of Dunn Capital, and how it arrived where it is today Trend following with futures Volatility within Dunn's system, and why volatility is important to the overall performance Targeting losses How history informs system creation Adapting to the marketplace and to available technology What it means to be 100% systematic with no overrides Defining “black box” systems, and the difference between Dunn Capital's strategy and black box strategies Location in relation to Dunn Capital, and why it isn't necessary to be in a big city like London or Tokyo How the core of Dunn Capital has stayed the same while certain aspects of business has evolved Decreasing drawdown without decreasing profitability Behavioral finance and dealing with biases The adaptive nature of trend following Predictive vs. reactive trend following Dunn Capital's fee structure Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Michael Covel speaks with Martin Bergin, CEO of Dunn Capital Management. Bill Dunn and Dunn Capital were famously profiled in Covel’s book Trend Following and they have a 39 year track record of trend following performance. Covel and Bergin discuss the early stages of Dunn Capital, and how it arrived where it is today; trend following with futures; volatility within Dunn’s system, and why volatility is important to the overall performance; targeting losses; how history informs system creation; adapting to the marketplace and to available technology; what it means to be 100% systematic with no overrides; defining “black box” systems, and the difference between Dunn Capital’s strategy and black box strategies; location in relation to Dunn Capital, and why it isn’t necessary to be in a big city like London or Tokyo; how the core of Dunn Capital has stayed the same while certain aspects of business has evolved; decreasing drawdown without decreasing profitability; behavioral finance and dealing with biases; the adaptive nature of trend following; predictive vs. reactive trend following; and Dunn Capital’s fee structure. More information about Dunn Capital can be found at dunncapital.com. Want a free trend following DVD? Go to trendfollowing.com/win.