Podcasts about ten reasons

In this episode, Alan Dunne speaks with Dan Mikulskis, CIO of People's Partnership, about the evolution of large pension funds and what it means to think like an asset owner. Managing over £40 billion for millions of members, Dan explains how scale changes the way portfolios are constructed, managers are selected, and partnerships are built. The conversation explores the balance between passive and active strategies, diversification beyond equities, and the growing role of private markets. Dan also shares insights on governance, investment philosophy, and why humility is essential when making asset allocation decisions in complex global markets.-----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 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.Follow Dan on LinkedIn.Episode TimeStamps: 01:33 - Introduction to the global macro series02:18 - Introducing Dan Mikulskis and his background03:38 - From actuarial science to investment consulting05:45 - The history and growth of People's Partnership08:18 - Auto-enrolment and the rise of large UK pension schemes11:12 - What it means to operate as an asset owner13:24 - Building the investment team and ownership model18:34 - Scale advantages in manager relationships and partnerships23:24 - How large asset owners select external managers28:58 - Balancing core partnerships and specialist managers34:25 - Macro insights and quarterly investment forums37:34 - Portfolio construction and diversified growth strategies43:19 - Concentration risk and global equity allocations50:44 - Factor investing and style diversification53:30 - The role of hedge funds and alternative strategies56:08 - Total portfolio approach in pension investing58:56 - Measuring performance and evaluating investment teams01:03:18 - Career advice for future CIOsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

What if trends in financial markets are not anomalies, but the natural consequence of how markets function? In this episode, Niels and Richard explore the structural foundations of trend following. Drawing on research spanning 68 futures markets across four decades, Richard explains why markets exhibit persistent trends, fat-tailed returns, and volatility clustering. The discussion moves from oil market shocks to deeper questions about feedback loops, participant behavior, and regime shifts in financial markets. The conclusion is striking: trend following does not rely on fragile patterns. It aligns with fundamental structural properties embedded in how markets actually evolve.-----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 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 Rich on Twitter.Episode TimeStamps:00:00 - Introduction to the Systematic Investor Series02:08 - Oil market shock and the structural setup behind the spike06:10 - Why calm markets can hide explosive potential11:47 - How oil shocks ripple through inflation and the global economy15:29 - Why trend followers focus on process, not predictions22:15 - A changing regime that may favor trend following24:43 - The research behind The Fractals of Finance25:25 - Market memory and the meaning of the Hurst exponent31:22 - Why trends are structural rather than random patterns36:25 - Fat tails and why extreme market moves are far more common than expected41:12 - Divergent vs convergent market participants45:29 - The hidden risks in traditional volatility targeting49:33 - Phase transitions and regime shifts in markets55:33 - Why trend following aligns with market structure59:02 - Oil shocks, inflation risks, and the next potential market regimeCopyright © 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 Thursday “10 Things” episode of the Earn & Invest Podcast, Doc G shares his personal list of the ten biggest reasons he believes he successfully built wealth. Inspired by a recent conversation with financial historian Joseph Moore, Jordan begins by acknowledging the privileges that helped shape his path, including being born in the United States and growing up with professional parents. But he emphasizes that a series of specific habits and decisions—some simple and some unconventional—ultimately accelerated his financial journey. First, he credits relentless consistency. Inspired by Nick Maggiulli's philosophy of “just keep buying,” Jordan invested throughout his entire career regardless of market conditions. Even when he made early mistakes—buying individual stocks or expensive mutual funds—the habit of consistently purchasing assets eventually led him to the simplicity and power of broad index fund investing. Second, he explains why he never relied on a traditional budget. Instead, he and his wife automated their finances by living off one income while sending the entirety of the second income directly into savings and investments. This approach allowed them to build wealth automatically while avoiding the stress of tracking every spending category. Jordan also discusses why he stopped worrying about financial minutiae. Rather than chasing small optimizations like credit card points or the highest-yield savings accounts, he focused on the big financial moves—saving large portions of income, investing consistently, and building a profitable business. Throughout the episode, he highlights several other mindset shifts that shaped his success: ignoring people who said something “couldn't be done,” redesigning his medical practice into a low-overhead concierge model, and thinking in decades rather than weeks or months when pursuing long-term projects. He also shares the importance of embracing failure through experimentation, adopting an abundance mindset, losing interest in accumulating material possessions, and forgiving himself for inevitable financial mistakes along the way. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Alan Dunne speaks with Aoifinn Devitt about what it really means to build resilient portfolios in a world of shifting regimes and competing narratives. Drawing on experience across pensions, hedge fund advisory, and private wealth, Aoifinn reflects on how institutional lessons translate to individual investors. The conversation explores the role of diversification, the evolving case for private markets, and the limitations of labels such as hedge funds, factors, or alternative assets. Along the way, they discuss the behavioral traps that influence allocators, the challenges of manager selection, and why outcome based investing may offer a clearer framework for navigating uncertain markets.-----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 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.Follow Aoifinn on LinkedIn.Episode TimeStamps: 02:16 - Introducing Aoifinn Devitt and her background03:14 - From corporate law to a career in finance05:16 - Institutional vs private wealth portfolio construction09:47 - How macro regimes influence asset allocation12:53 - Rethinking the endowment model and private markets15:32 - Private credit and diversification challenges18:13 - Total portfolio approach vs traditional allocation21:27 - Bonds, equities, and changing correlations27:52 - Concentration risk and the dominance of mega cap stocks37:33 - The evolving role of hedge funds in portfolios42:35 - Gold, commodities, and inflation protection46:23 - Behavioral biases and long term market cycles57:35 - Advice for young professionals entering financeCopyright © 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

Markets can shift direction faster than the narratives used to explain them. In this episode, Niels and Alan unpack the sharp reversal in bond markets, the geopolitical tensions shaping energy prices, and the role of options flows in keeping equity indices pinned despite rising uncertainty beneath the surface. The conversation moves through recent hedge fund industry discussions in Miami, renewed interest in portable alpha and the total portfolio approach, and the growing influence of AI on economic thinking and policy debates. Along the way, they revisit the core role of trend following in portfolios, explaining why its value often appears precisely when traditional allocations struggle most.-----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 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.Episode TimeStamps:00:00 – Introduction to the Systematic Investor Series01:38 – Bond market reversal and shifting macro narratives03:29 – Options flows and the pinning of equity indices10:13 – AlphaQuest closure and pressures in short term trading strategies15:14 – Crisis alpha and how trend differs from a 60/40 portfolio23:18 – Recent CTA performance and trend opportunities across markets25:23 – Key takeaways from the Miami hedge fund conference37:48 – AI, productivity, and the policy dilemma for the Fed46:40 – Political dynamics behind the potential Fed leadership shift50:13 – Trend following as the “midfield player” in portfolios58:08 – Building a portfolio of CTAs and the challenge of tracking indices01:07:20 – Is CTA beta stable enough to benchmark?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

Cem Karsan sits down with Neil Howe to examine what a true regime shift means for markets and society. Howe argues that we are deep into a Fourth Turning, a generational winter that historically brings institutional fracture, geopolitical strain, and inflation that reshapes debts, assets, and political power. Cem ties that arc to today's realities: the exhaustion of the 40 year tailwind from falling rates, record valuations meeting refinancing risk, and the uncomfortable truth that 60/40 has failed for long stretches before.They explore the growing divide between capital and labor, the pivot from globalization to industrial policy, and the rising appeal of commodities, cash, and convex hedges in a world where outcomes are less linear. Howe also details how his Fourth Turning ETF reflects that view, pairing thematic equities with real assets and disciplined tail protection.This is a conversation about preparing, not predicting, when history starts to rhyme a little louder.-----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 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 Cem on Twitter.Episode TimeStamps: 01:28 - Introducing Neil Howe and why this conversation matters now03:37 - What the Fourth Turning is and how the cycle works10:26 - “The Fourth Turning Is Here” and the practical question: what do we do?16:42 - Rates, inequality, and why the last 40 years may not repeat20:17 - Inflation as a crisis tool, not a forecasting error26:43 - Options, convexity, and non-linear portfolios in regime change33:31 - The surge into “non-correlated” assets and what it signals39:39 - Market closures, devaluation, and the limits of buy-the-dip history45:28 - Commodities as a missing portfolio leg and the volatility debate48:12 - Howe's ETF framework: themes, commodities, cash, and tail hedges52:43 - Timing the crisis, geopolitics, and the authoritarianism questionCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

In this episode, Alan Dunne and Cem Karsan explore a market that appears calm on the surface yet increasingly unstable underneath. As indices move sideways, they discuss how options flows and structured products are reshaping market behavior, driving rotation rather than direction. From the weakening of former leaders to the rise of defensives, the conversation turns to what these shifts may signal about a broader topping process. They also examine the growing influence of AI narratives, political incentives, and global tensions, not as isolated shocks but as forces building pressure within the system. The result is a discussion about how markets evolve when structure, policy, and sentiment begin to move out of sync.-----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 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.Follow Cem on X.Episode TimeStamps:00:00 Intro to the Systematic Investor Series00:23 Performance check: CTAs strong, trend tailwinds03:13 Range-bound indices, but big dispersion and rotation03:45 Why options pin the index: dealer flows and vol compression05:42 Dispersion mechanics: idiosyncratic risk, falling correlation07:32 Rotation as a topping process: leaders fade, defensives rise09:54 OPEX and quarterly expiries: why timing windows matter11:56 The March support effect, then weaker flows into April17:02 AI narrative shock: anxiety, backlash, and policy consequences22:32 Populism versus deflation stories: why inflation returns32:43 Gold outlook: secular bull, but expect two-sided volatility45:45 Rates as “tectonic plates”: vol compressed now, release later50:23 Midterms, incentives, and the fight for control57:42 Liquidity loop: markets stop rising, collateral stops expandingCopyright © 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

ABOUT THE EPISODE:This solo episode is my attempt to provide answers to the question of why some families see greater change than others when using the CRAFT approach. Drawing on 6+ years of watching hundreds of parents move through this process, some gaining traction, some spinning their wheels, I'm sharing the 10 most common reasons why parents who are 'doing the work' aren't getting the results they want. It's a no-fluff audit of what might be holding you back, and it comes from my heart because there are no more important results to strive for than a healthy family.If you've been at this for a while and feel like things aren't moving in the right direction, this one is for you.You'll hear about:A foundational piece most parents skip without realizing itWhy doing more often backfiresA timing factor that determines whether any skill worksThe fastest path forward when communication has broken downWhy inconsistency isn't a character flawEPISODE RESOURCES:Hopestream Playlists - Start Here PlaylistJennifer Ollis Blomqvist on using Motivational Interviewing, Hopestream episode 306Dr. Emily Kline on using Motivational Interviewing for hard conversations, Hopestream episode 160Using Motivational Interviewing and CRAFT as a double punch effort to create change in your family, Hopestream episode 256CRAFT family resources and providers with Helping Families HelpUsing CRAFT, MI and Acceptance & Commitment Therapy together to help your child, Hopestream episode 260Stages of Change workshopStages of Change downloadable cheat-sheet here Hopestream podcast episode 66 on the Stages of ChangeThis podcast is part of a nonprofit called Hopestream CommunityGet our free, 4-video course, Hope Starts Here, and access to our Limited Membership hereLearn about The Stream, our private online community for momsFind us on Instagram hereWatch the podcast on YouTube hereDownload a free e-book, Worried Sick: A Compassionate Guide For Parents When Your Teen or Young Adult Child Misuses Drugs and AlcoholHopestream Community is a registered 501(c)3 nonprofit organization and an Amazon Associate. We may make a small commission if you purchase from our links.

In today's episode we talk to Mark Roberts, founder of Off Wall Street, a legendary provider of short selling research to hedge funds. Seven months before Enron became the biggest bankruptcy in US corporate history, Off Wall Street published a report recommending the shares be sold. The success of this call made Mark and Off Wall Street synonymous with original and rigorous research. We talk to Mark about his unusual personal background, how being a hippie in Berkeley in the 1960s prepared him for identifying overvalued companies two decades later. He explains why questionable accounting and high valuations are the “symptoms, not the disease” and compares today's markets with those of the Dotcom era. His new book, Off Wall Street How To Win At Short Selling By Betting Against The Crowd was just released in February 2026.-----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 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 Kevin on SubStack & read his Book.Follow Mark on LinkedIn and read his book.Episode TimeStamps: 01:41 - Introducing Mark Roberts, Off Wall Street, Enron, and the book03:35 - An unconventional path: French literature, skepticism, and early life choices07:40 - The first “short sale”: selling a failing steel business and learning risk firsthand11:10...

Today Alan and Mark step back from the noise to examine a market environment that feels subtly but meaningfully different. From AI euphoria giving way to harder questions, to gold's steady rise and a surprising divergence between US and emerging market inflation, the conversation centers on rotation, uncertainty, and shifting assumptions about safety. They explore whether Treasuries still anchor portfolios the way they once did, how fiscal pressures could reshape monetary policy, and why regime thinking matters for systematic investors. Beneath it all is a reminder that correlations change, narratives evolve, and adaptability remains the most durable edge in uncertain markets.-----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 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.Follow Mark on LinkedIn.Episode TimeStamps:00:00 – Introduction & market check-in02:52 – February performance: CTAs, trend following & commodities04:53 – Peak bubble? AI, metals & speculative excess07:10 – Gold demand, central banks & safe-haven flows10:40 – The AI narrative shift & tech repricing13:22 – Global rotation: US vs Europe & emerging markets15:22 – EM inflation now lower than US — why it matters21:48 – Why macro still matters (regime thinking vs stock picking)31:49 – Fiscal vs monetary dominance explained41:59 – $700B in Treasury issuance — scale of the debt...

The global order is shifting in plain sight. In this Global Macro conversation, Steen Jakobsen, inventor of the Outrages Predictions, joins Niels Kaastrup-Larsen and Alan Dunne to examine the slow grind reshaping productivity, debt, currencies, and political stability. From dollar regime risk to state capitalism, from market concentration to commodity repricing, the discussion moves beyond headlines to structural fault lines. Is gold signaling debasement? Can the U.S. sustain its debt path? Does AI lift productivity or hollow it out? Rather than predict collapse, Jakobsen outlines a drawn-out transition where capital reallocates, volatility hides beneath the surface, and political systems are tested long before markets finally react.-----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 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 Niels on Twitter, LinkedIn and YouTube.Follow Alan on LinkedIn.Follow Steen on LinkedIn.Episode TimeStamps: 01:38 - Introducing Steen Jakobsen03:45 - From trading floors to outrageous predictions06:32 - Dollar hedging and regime shift signals08:06 - Davos as a macro...

Today, we examine a year that looked chaotic but felt familiar to trend followers. Gold surged, equities rotated globally, and non-US markets quietly gained momentum. Yet beneath strong returns lies a deeper debate about model design, short versus long horizon signals, and whether innovation in liquid alternatives serves investors or sales desks. From AI disruption to product engineering and allocator behavior, this episode explores where systematic strategies truly create value and where structural incentives distort outcomes. In a changing macro regime, clarity of purpose may matter more than ever.-----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 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 Andrew on Twitter.Episode TimeStamps: 00:00 - Introducing the Systematic Investor series01:17 - AI disruption and systematic investing06:52 - The shifting perception of US risk09:21 - Winter Olympics and market metaphors12:59 - Hedge funds versus private equity19:23 - 2025 review and the importance of risk allocation22:17 - Why CTAs did not fully capture gold29:48 - Short term versus long term trend models35:27 - Letting risk run versus investor palatability44:43 - The problem with liquid alternatives51:21 - Product design versus fiduciary duty59:06 - QIS, innovation and investor sophistication01:04:41 - Model risk and the myth of risk premia01:10:51 - Hopes for a trending year aheadCopyright © 2025 – CMC

A familiar portfolio map is being redrawn. Ian Harnett traces the regime shift from disinflation and reliable bond hedges to a world where inflation pressures linger, supply chains shorten, and capital becomes a policy tool. The conversation moves from China's exported deflation to Europe's structural constraints, then into America's strategy of attracting investment with tariff leverage. Beneath it all sits a political question: what happens if the governing coalition fractures ahead of the midterms. Harnett argues that is the moment the dollar turns from anchor to risk.-----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 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 LinkedIn.Follow Ian on LinkedIn.Episode TimeStamps: 00:00 - The gray swan: political fracture and the point to sell the dollar00:37 - Show intro and risk disclaimer01:33 - Setting the frame: global macro, geopolitics, and regime change04:34 - The new regime: inflation risk and the stock-bond relationship breaking06:39 - Structural inflation drivers: deglobalization, trade weaponization, China's deflation export09:14 - Capital as a battleground: surcharges, controls, and Europe's capital markets problem12:02 - Europe's catalyst problem: why it may take a crisis to build a true safe asset14:44 - America's playbook: inbound capital, tariff bargaining, and “neo-royalism”18:32...

Today, we are joined by Rob Carver to unpack one of the most volatile weeks seen in commodity markets in years. The conversation centers on silver's sharp rise and sudden collapse, using it as a case study in volatility targeting, liquidity risk, and disciplined position sizing. From Freaky Friday to broader dislocations across assets, they examine why systematic risk management matters when markets move faster than narratives. The discussion expands into diversification, correlation assumptions, alternative markets, and new research on trend portfolio construction, offering a grounded reminder that survival often matters more than precision.-----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 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 Rob on Twitter.Episode TimeStamps:00:00 - Introduction to the Systematic Investor Series03:56 - Freaky Friday in precious metals04:29 - How Rob trades silver in a volatility adjusted framework10:25 - When volatility forces position reduction12:38 - Liquidity myths in hot commodity markets16:25 - Risk management lessons from silver's collapse22:28 - Dislocations across assets beyond metals24:54 - Fed chair speculation and muted market reactions31:33 - Discretionary versus systematic decision making34:03 - Trend barometer and market breadth update37:34 - Estimating portfolio correlation from PnL41:18 - Correlation versus volatility predictability45:13 - MAN Group paper...

Cem Karsan sits down with Ben Hunt, founder of Epsilon Theory, to explore how narratives shape markets, politics, and decision making itself. Drawing on decades of experience across academia, hedge funds, and applied AI, Ben explains why stories, not data, increasingly drive outcomes in modern markets. The conversation spans unstructured data, inference, common knowledge, and the mechanics of narrative momentum. Together, they examine consumer expectations, inflation silence, geopolitical signaling, and the slow shift away from US dominance. What emerges is a framework for understanding markets as reflexive systems, where perception often matters more than reality.-----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 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 Cem on Twitter.Episode TimeStamps: 00:00 - Introduction to U Got Options and the trading floor setting02:18 - Ben Hunt's background and Epsilon Theory origins04:11 - Markets as the ultimate multiplayer game06:15 - Inference, unstructured data, and narrative analysis08:18 - Why sentiment and word counts miss the real signal11:16 - Mapping meaning and truthy stories15:00 - LLMs as operating systems, not oracles18:01 - Giving money back and when models stop working21:16 - Applying narrative tools beyond markets24:10 - Consumer weakness versus bullish expectations30:43 - Inflation, recession, and why markets do not care33:29 - Dormant stories and volatility discovery34:26 -

Katy Kaminski joins us to assess the early signals shaping markets in 2026. The conversation explores the resurgence of commodity trends, the role of volatility estimation, and why diversification across markets and speeds matters more than ever. Drawing on new research, they examine dispersion within the CTA universe, the limits of replication, and how volatility targeting quietly determines outcomes. From precious metals to currencies, from crisis alpha to geopolitical risk, this episode offers a grounded look at why trend following thrives during disruption and why regime change remains its natural habitat.-----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 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 Katy on LinkedIn.Episode TimeStamps:00:00 - Introduction to the Systematic Investor Series00:39 - Weather disruptions and market perspective02:31 - Precious metals and extreme commodity moves04:28 - Gold, central banks, and monetary regime shifts07:43 - Replication versus full CTA diversification09:47 - Liquidity differences across metals12:03 - Metals leading trend performance in 202615:01 - Multi-sector trends and diversification benefits20:13 - Media attention and the return of trend following23:29 - Research insights on speed and dispersion31:44 - Trend speed and timing tradeoffs40:59 - Market concentration and narrow universes43:19 - Volatility estimation as a hidden...

In this episode, Alan Dunne is joined by Dario Perkins to examine why the global macro consensus may be fundamentally misreading the current cycle. The conversation moves from US fiscal stimulus and Federal Reserve credibility to the limits of the K-shaped economy narrative. Perkins challenges prevailing assumptions around AI-driven productivity, labor market weakness, and falling inflation, arguing that policy choices are pushing economies toward overheating rather than stagnation. The discussion extends to bond markets, term premia, Japan's normalization, Europe's fiscal pivot, and China's rebalancing dilemma. What emerges is a picture of renewed growth, rising risks, and a cycle whose ending is now becoming visible.-----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 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 LinkedIn.Follow Dario on Twitter.Episode TimeStamps: 00:00 - Opening remarks and context02:25 - Global uncertainty and growth expectations05:00 - The K-shaped economy under scrutiny08:12 - Fiscal stimulus, tariffs, and timing effects11:07 - Fed independence and political pressure17:06 - The race to appoint the next Fed chair26:35 - Productivity data and the AI narrative35:51 - Labor market stall speed debate39:56 - Bond markets, term premia, and inflation risk46:03 - Japan's normalization and demographic...

In this episode, Niels hosts Yoav Git to explore inflation risk, bond fragility, and the changing role of trend following in a world defined by supply shocks and declining trust. Drawing on recent research and market behavior, the conversation examines why traditional bond allocations struggle during inflationary regimes and how commodity trend strategies may offer structural resilience. The discussion spans geopolitics, deglobalization, energy markets, fixed income autocorrelation, and the limits of forecasting macro outcomes. Rather than predicting inflation's path, the episode focuses on portfolio construction that can endure multiple regimes. What emerges is a disciplined argument for robustness over precision in an increasingly unstable global system.-----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 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 Yoav on LinkedIn.Episode TimeStamps:00:00 - Introduction and series context01:08 - Inflation back on the radar02:38 - Recent podcast influences and inflation narratives06:56 - Geopolitics, trust, and market fragmentation08:52 - Commodities, volatility, and supply driven moves10:48 - Trend performance and early 2026 conditions11:30 - Fixed income, FX, and emerging market trends17:26 - The all weather portfolio problem18:18 - Bonds, inflation regimes, and correlation breakdowns22:39 - Commodity trend as a defensive building block27:01 - Are markets signaling higher inflation ahead30:04 - What...

Today we discuss one of the most popular and influential economic books of the last few decades - The Winner's Curse. Originally published in 1994, a new version has just been released and we are joined by co-author Alex Imas who wrote the new edition alongside Nobel Prize winner Richard Thaler. When are we likely to spend a windfall and when are we likely to save it? When is it most dangerous to bid for business against competitors? And are ‘arbitrage' opportunities in markets really a free lunch?-----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 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 Kevin on SubStack & read his Book.Follow Alex on X.Episode TimeStamps: 00:00 - Opening remarks and framing the law of one price01:42 - Introducing the Ideas Lab series and Alex Imas03:44 - From pre med to behavioral economics08:15 - Mental accounting and how people really treat money10:45 - Housing wealth, illiquidity, and self control15:39 - Savings behavior, capital gains, and inequality17:11 - Attention, salience, and why nudges work or fail22:07 - Nudges versus incentives and policy confusion25:18 - The winner's curse and common value auctions30:01 - Auctions, IPOs, and competitive overbidding33:44 - The law of one price and market mispricing36:50...

Today, we are joined by Nick Baltas to examine how narratives, signals, and structural design are reshaping trend following at the start of 2026. The conversation moves from investor storytelling and information digestion to a sober review of what truly drove dispersion in 2025. We explore why speed and universe choice mattered more than expected, why recent outcomes may be misleading, and why reacting to performance is often a mistake. The discussion then turns technical, unpacking new academic research on nonlinear momentum, signal construction, and the deeper mechanics behind trend following's defensive behavior during stress. The episode closes with a reminder that discipline, not prediction, remains the strategy's core advantage.-----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 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 Nick on Twitter.Episode TimeStamps:00:00 - Introduction and welcome01:05 - A disrupted start to 202603:10 - Narratives, information, and price formation07:06 - Why stories often fail to move markets09:31 - Recurring themes and market attention10:59 - Strong early conditions for trend following12:01 - Dispersion across strategies in 202515:06 - Familiar patterns in an unfamiliar year18:42 - Speed versus universe in trend design23:17 - Why recent outperformance can mislead31:08 - Institutional views on trend following40:21 - Nonlinear time series momentum research50:30 - Autonomy of trend and crisis...

As the long era of neoliberal certainty frays, Mark Blyth argues that we are drifting back toward a 19th century world of rival blocs, imperial habits and dangerous illusions. In this conversation, he traces how repeated “software crashes” of capitalism produced inflation, austerity, populism and now a return to industrial policy and great power confrontation. He connects deficits, demographics, migration, and housing with the lived reality of stagnant wages and rising prices. Along the way, he questions central bank mythology, challenges deficit obsession, and asks whether politics can adapt before events force a far harsher reset.-----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 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 LinkedIn.Follow Mark on Twitter.Episode TimeStamps: 00:00 - Cold open and warning on a return to 19th century style imperialism00:23 - Niels and Alan introduce Mark Blyth and set the macro context02:24 - From Scottish childhood to monetarism and the politics of macro ideas08:33 - Capitalism as hardware and software and the recurring crashes of each regime15:32 - The slow death of neoliberalism and the rise of populist reactions18:57 - Deficits, austerity, bond vigilantes and why the house is on fire anyway23:49 - Affordability, grocery prices, housing and the disconnect in elite dashboards29:02 - Generational conflict, asset concentration and the missing left...

The new year opens with a shift hiding in plain sight. As globalization recedes and the world fractures into spheres of influence, Rich argues this isn't just a political story - it's a structural shift that favors trend following. In this episode, he challenges the illusion of control baked into most trading systems: why backtests offer comfort, not readiness; why precision breeds fragility; and why the future isn't something to predict, but something being built in real time. This is a conversation about trading with humility, designing for persistence, and letting go of the need to know. The signal is now.-----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 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 Rich on Twitter.Episode TimeStamps:00:00 - Opening and the start of 202603:21 - A fragmented global order and what it means for trend following08:55 - Why coordination fades and imbalances persist12:41 - Early market signals and unusual positioning14:34 - 2025 in review, concentration and recovery17:36 - Familiar pain and familiar payoffs in trend following23:00 - Timeframes, diversification, and ensemble thinking28:37 - Brakes and acceleration, trading the now40:58 - The future as unfinished, not hidden49:54 - Prediction versus participation53:53 - Optimization, comfort, and hidden fragility01:02:49 - Predetermined response and process control01:05:30 - Closing reflections and looking aheadCopyright © 2025

William White returns to assess a world edging closer to systemic stress. Drawing on decades advising central banks, he describes a macro regime defined not by temporary shocks, but by a deep reversal of the forces that once kept inflation low and debt manageable. From de-globalization and demographic decline to energy constraints and fragile supply chains, the conversation traces how rising costs collide with record public and private leverage. White warns that policy makers are trapped between inflationary pressures and debt sustainability, with no clean exit in sight. The discussion closes on AI, currency fragmentation, and the uncomfortable possibility that today's stability masks a far more dangerous 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 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.Follow William on LinkedIn.Episode TimeStamps: 00:00 - Why unchecked booms become more dangerous over time01:37 - Setting the stage for a new global macro regime03:53 - From disinflation to persistent inflation pressure07:10 - Supply side forces reversing after decades of support12:07 - Debt accumulation and unintended policy consequences13:03 - Why higher rates did not trigger an immediate crisis18:53 - Debt dynamics and the problem of sustainability19:57 - Tipping points and the psychology of market breaks26:40 - What happens when...

In this segment, Mark is joined by Richard Porter, a Real Clear Politics Contributor and a Former National Committeeman to the RNC from Illinois. His latest piece in Real Clear Politics is headlined, "Ten Reasons to Cheer the Arrest of Maduro".

In hour 3, Mark is joined by Richard Porter, a Real Clear Politics Contributor and a Former National Committeeman to the RNC from Illinois. His latest piece in Real Clear Politics is headlined, "Ten Reasons to Cheer the Arrest of Maduro". He is later joined by Matt Kittle, a Senior Elections Correspondent for The Federalist. He discusses his latest piece which is titled, "The Left's Top 25 Lies of 2025". They wrap up the show with the Audio Cut of the Day.

In hour 1 of The Mark Reardon Show, Mark and the crew discuss their Christmas breaks and then quickly get into the action of the news over the last few days. Mark is then joined by Retired Marine Corps Colonel William Dunn. Dunn is also the President of Strategic Resilience Group. Dunn discusses how the capture of Nicolas Maduro took place, the preparation and other details. Later, he is joined by David Strom, an Associate Editor with Hot Air. He discusses Minnesota Governor Tim Walz's epic downfall from almost being the Vice President to announcing he will not seek a third term for Governor. In hour 2, Sue hosts, "Sue's News" where she discusses the latest trending entertainment news, this day in history, the random fact of the day and much more. Mark is then joined by Tim Murtagh, a Washington Times Columnist and the Founder & Principal of Line Drive Public Affairs. He discusses his latest piece, "Democrats should get blame for health care costs, inflation." He's later joined by KSDK Sports Director Frank Cusumano who discusses the latest trending sports news including the conclusion of the NFL regular season, Mizzou basketball's big recent win, Mizzou football's potential next quarterback and more. In hour 3, Mark is joined by Richard Porter, a Real Clear Politics Contributor and a Former National Committeeman to the RNC from Illinois. His latest piece in Real Clear Politics is headlined, "Ten Reasons to Cheer the Arrest of Maduro". He is later joined by Matt Kittle, a Senior Elections Correspondent for The Federalist. He discusses his latest piece which is titled, "The Left's Top 25 Lies of 2025". They wrap up the show with the Audio Cut of the Day.

In part two of our year-end roundtable, the Systematic Investor team goes beyond performance to ask harder questions about the path forward. Are today's drawdowns a signal of structural change? - or just the cost of staying disciplined in a low-volatility regime? As allocators repackage old ideas under new acronyms and model drift tempts even seasoned managers, the conversation turns to what still holds. From AI and capital efficiency to the quiet value of doing less, this is about defending process when the payoff isn't obvious - and knowing what not to change when pressure mounts. We close off with our 2026 Outrages Predictions... don't miss 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 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 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

In this Ideas Lab episode, Kevin Coldiron speaks with venture capitalist and former founder Aubrie Pagano about what stands between today's AI hype and a truly transformative AGI economy. Rather than treating AI as destiny, Aubrie maps the frictions that hold it back: hard power limits, fragile industrial data, and agents that still cannot coordinate with humans or each other. She explains why we may be a full capital cycle or two away from real AGI and why that delay is precisely where the best opportunities lie. The conversation then widens into the “Aquarius Economy,” a possible future in which human agency, not algorithms, becomes the scarcest and most valuable asset.-----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 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 Kevin on SubStack & read his Book.Follow Aubrie on LinkedIn.Episode TimeStamps: 00:00 - Why agent coordination is still clunky and unreliable00:38 - Intro to Top Traders Unplugged and performance risk framing01:34 - Kevin sets up the Ideas Lab and today's focus on AGI02:59 - Aubrie's background as founder, researcher and VC shaping her lens06:04 - Why she wrote about AGI and the Aquarius Economy07:21 - AGI as the last cycle built on labor scarcity10:41 - The blockers framework and why AGI may be a cycle or two away12:58 - Blocker...

Niels is joined by all 9 amazing co-hosts, to discuss a year that refused to behave. In part one of the annual "roundtable", Niels and the group map why 2025 produced such striking dispersion across trend followers. They revisit the Liberation Day shock and the uncomfortable truth it exposed: results often came down to unglamorous choices like market selection, time horizon, and how quickly risk is resized after clustered volatility and sharp reversals. The conversation then widens to a structural theme: the rapid growth of strategies investors hope will sit outside stocks and bonds, from managed futures and multi strats to structured products, gold, and crypto, plus the liquidity, reflexivity, and selection challenges that follow when everyone reaches for the same diversifier.-----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 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 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

Moritz Siebert speaks with Doug King about what it really means to trade commodities through cycles, distortions, and stress. Drawing on decades at Cargill and more than twenty years running a commodities hedge fund, Doug explains why innovation keeps scarcity narratives in check, why commodities resist buy and hold logic, and how real edge comes from cash markets rather than futures screens. He reflects on defining trades in oil, nickel, and agriculture, the limits of volatility targeting, and the discipline required to survive violent squeezes. The result is a grounded account of conviction, risk control, and why commodities reward patience more than prediction.-----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 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 Moritz on Twitter.Follow Doug on LinkedIn.Episode TimeStamps:00:00 - Opening remarks and introduction to Top Traders Unplugged01:24 - Introducing Doug King and his background04:49 - From Cargill to hedge funds and the pull of commodities07:05 - Why the fund is purely discretionary and fundamentals driven09:50 - Team size, selectivity, and waiting for the right trades10:45 - Why commodities are cyclical and innovation breaks scarcity13:46 - Electrification and where long term excitement may lie15:37 - Defining edge in commodities trading18:12 - Physical delivery, convergence, and real market signals20:23

Christmas is a major global event, but most people are unaware of the real reasons why Jesus was born. Millions of people who observe Christmas don't even believe in Him; however, the significance of His birth goes much deeper than the secular holiday traditions the world has created. In addition to paying the price to save us from our sins, Jesus was born to make us children of God and bring the truth of His favor toward us. He also came to take away condemnation, bring His Holy Spirit to guide us on a daily basis, and offer eternal life in heaven. A single event—the birth of Jesus—changed the entire course of human history; this is something for which we can wholeheartedly celebrate.   o support the ministry financially, text "CDMPodcast" to 74483 or visit www.worldchangers.org

Chris Matthews is one of the smartest and funniest political commentators in America today. His previous bosses include President Jimmy Carter and Speaker of the House Tip O'Neill. On this week's “Leaders and Legends” podcast, we talk with Chris about the astonishing impact of RFK and why history was changed forever that night in the Ambassador HotelSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Niels and Cem reflect on a year marked by concentration, confidence, and growing structural fragility beneath calm markets. They examine extreme positioning, record low cash levels, and the quiet dominance of reflexive flows over fundamentals. Cem challenges common readings of volatility, explains where real fear hides in options markets, and outlines why tail exposure becomes critical late in cycles. The discussion broadens into portfolio construction, questioning the legacy of 60/40 investing and the illusion of diversification built during falling-rate decades. Grounded in history, market structure, and political cycles, this conversation offers a disciplined framework for navigating regimes where leverage, policy, and inequality quietly redefine risk.-----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 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 Cem on Twitter.Episode TimeStamps: 00:00 - Introduction to the Systematic Investor Series00:49 - Geopolitical tensions beneath the surface of markets02:07 - Extreme bullish sentiment and record low cash levels04:12 - Margin use, positioning, and why this setup is fragile06:07 - Why the VIX fails as a true fear indicator11:48 - Buffett's concentration and risk management through quality16:27 - Leverage, Sharpe ratios, and misunderstood diversification21:02 - Trend following performance and late year positioning23:48 - Positioning, reflexivity, and market microstructure28:25 - Volatility traps and convexity before stress events31:06...

In this conversation, the veneer of political continuity is stripped back to reveal a world drifting toward harder borders, sharper identities and a reshaping of power once thought unthinkable. Gary Gerstle traces the erosion of the neoliberal order and the rise of a political logic that places national strength above universal norms. He examines how affordability stress, authoritarian impulses and fragmented parties are redrawing economic life and democratic expectations. The discussion widens into a global map of competing hegemons and the uneasy choices facing Europe and the United States. What emerges is a portrait of a century unsettled, yet not without agency.-----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 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 LinkedIn.Follow Gary on Twitter.Episode TimeStamps: 00:00 - Opening remarks on a shifting world and national security visions00:44 - Introduction to Top Traders Unplugged and context for the discussion01:40 - Framing the global macro environment and the need for deeper perspectives02:24 - Introducing Gary Gerstle and his work on political and economic orders04:00 - Defining the end of the neoliberal era and what has replaced it07:02 - The tension between authoritarian forces and liberal democratic hopes08:17 - Democracy under strain and the implications of Trump's second term10:06 - Shock, discipline and the early strategic force of Trump...

This episode examines markets through the lens of uncertainty rather than prediction. As the Federal Reserve delivers a rate cut amid dissent and conflicting signals, Alan and Mark explore what it means for systematic investors navigating noisy data, fragile liquidity and shifting regimes. The conversation moves from Fed credibility and term premia to bubbles, leverage and the limits of valuation in an environment shaped by narratives as much as fundamentals. Along the way, they return to a core question at the heart of systematic investing: when uncertainty rises and explanations multiply, should prices remain the final arbiter of risk, signal and portfolio design?-----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 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 Mark on Twitter.Episode TimeStamps:00:00 - Introduction to the Systematic Investor series00:23 - Market context and recent CTA performance02:41 - Initial reactions to the Fed decision and rate cut03:12 - A messy Fed and the problem of dissenting signals06:48 - Inflation, growth projections and policy uncertainty08:31 - Signal versus noise in systematic trading models11:22 - Employment data revisions and confidence in fundamentals13:10 - Bond valuation, term premia and the question of safe assets16:30 - Fiscal dominance, inflation risk and portfolio fragility19:29 - Prices versus value and the limits of interpretation22:47 - Narratives, reflexivity and momentum in markets28:07...

Niels and Alan sit down with BlackRock's Jeff Rosenberg to examine how the post Covid shift from too little to too much inflation is reshaping portfolios. Jeff explains why bond and equity correlations have changed, why fixed income is drifting back toward income rather than pure diversification, and how fiscal pressure and soft financial repression may influence rates. They explore what systematic really means at BlackRock, from trend ETFs and defensive alpha to market breadth and execution. The conversation ends with the rise of liquid alternatives, whole portfolio thinking and growing equity concentration risk.-----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 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.Follow Jeff on LinkedIn.Find out more about DUNN CapitalEpisode Timestamps:00:00 - Introduction, Jeff's role at BlackRock Systematic and setting the agenda04:09 - From too little to too much inflation and the end of divine coincidence09:32 - Wage dynamics, “prices are too high” and persistent, not resurgent, inflation14:48 - Bond equity correlation, the changing role of fixed income and income versus diversification19:55 - Fiscal dominance, debt loads and the risk of soft financial repression25:21 - What “systematic” means at BlackRock across beta, factors and pure alpha30:44 - Trend as a systematic return stream and why...

Niels and Alan explore how a fragile macro regime reshapes systematic investing, from a politicised Fed succession to widening cracks in a debt-laden, equity-dependent economy. A shifting bond landscape, rising capital demands from AI and renewed tariff risks challenge the old 60/40 orthodoxy. Listener questions on US policy shocks and the Yen carry trade open a deeper look at when trend helps and when it hurts. The episode culminates in a world exclusive of SocGen's 2026 index changes and the first public reveal of Alan's new paper: The Regime-Adaptive Portfolio, for genuinely resilient, opportunity-aware global wealth compounding intelligently, prudently over the decade ahead.-----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 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.Episode TimeStamps:00:00 - Voiceover and introduction to the Systematic Investor Series00:23 - Niels and Alan open, what is on their radar this week01:27 - Fed succession as a political risk factor and betting markets03:33 - Crypto moves, Vanguard's platform shift and MicroStrategy index pressure05:53 - Listener questions: can constant US policy shocks break trend?06:33 - Trouble for trend or just another regime to endure and adapt to08:55 - Short-term CTAs, Liberation Day and when speed becomes a handicap11:11 - How CTAs are positioned for a yen carry unwind and JGB nuances12:16 - November trend update, five straight positive months and short-term pain13:35 - World exclusive: new SocGen CTA and...

Alan Dunne speaks with HSBC Asset Management's Global Chief Strategist, Joe Little, about what happens when the old macro rules stop working. Joe traces the shift from a demand led, low inflation world to a supply constrained regime of sticky and spiky prices, where 2 percent becomes a floor rather than a target. He explains the “reverse bond conundrum,” rising term premia and the quiet return of fiscal dominance. The conversation explores AI as investment boom, not yet productivity cure, the maturing of emerging markets, the fate of the dollar and how to build truly multipolar portfolios.-----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 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.Follow Joe on LinkedIn.Episode TimeStamps: 00:00 - Opening clip, long bonds misbehaving and the “reverse bond yield conundrum”00:55 - Introduction and risk disclosure for Top Traders Unplugged listeners01:50 - Joe's path from economist to global chief strategist and house view author05:16 - From post crisis disinflation to a supply constrained, sticky inflation regime10:32 - Why 2 percent looks like a floor, tariffs, profits and delayed inflation effects13:34 - 2026 baseline: muddle through growth, positive policy impulse and inflation nuance16:42 - AI as capital expenditure boom, echoes of the 1990s and the missing productivity surge20:40 - China and Asia: regionalisation, industrial policy and an exit from...

In this week's Systematic Investor episode, Niels and Andrew Beer explore how a broken 60/40 paradigm is forcing wealth managers into a new world of “other” diversifiers. Andrew reflects on the Goldman Sachs report about private wealth flows, the rise of liquid alts and why big houses are suddenly launching trend ETFs. The conversation dives into replication versus traditional CTAs, the true cost of complexity, and Simplify's new index-based product built on Andrew's strategy. Along the way they debate pods, Bitcoin, and Andrew's evolving metaphor of managed futures as a cloudy, but occasionally crystal-clear, macro crystal ball.-----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 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 Andrew on Twitter.Episode TimeStamps: 00:00 - Intro and Thanksgiving reflections, gratitude and mood after the holiday01:14 - Goldman report: trillions from wealthy investors and a seismic shift away from 60/4003:38 - Why bonds stopped diversifying and the growth of the “other” bucket in portfolios05:44 - Liquid alts vs illiquid alts and the timing of big firms launching trend ETFs08:25 - Odd Lots, pods and Dalio's skepticism on multi-strats' future09:22 - Bitcoin's volatile run and rumors of a manipulated pullback10:59 - November performance: zigzags in trend indices and short-term traders' struggles12:55 - How DBMF positioned: concentration, short yen, euro pain and being contrarian post “Liberation Day”16:05 - Are we still “replication”? Alternative data beta, tracking error and what's really...

In today's episode we talk about the world's oldest, and still most important asset: land. Our guest is the Economist's Wall Street Editor Mike Bird. Mike is the author of a newly released book The Land Trap: A New History of the World's Oldest Asset. We discuss the properties that make land unique as an asset and why it serves as collateral for almost two-thirds of all bank loans, making it the backbone of the world's money supply. Mike explains what the “land trap” means and why China is caught in its grip like no other country. We also discuss the one country in the world that seems to have escaped the trap and whether their lessons can be applied elsewhere. -----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 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 Kevin on SubStack & read his Book.Follow Mike on X and read his book.Episode TimeStamps: 00:00 - Opening and setup00:00:49 - Disclaimer and show introduction00:01:45 - The premise: land as humanity's oldest asset00:04:18 - Defining the “land trap” through Hong Kong's model00:09:01 - Three defining traits: scarcity, immovability, endurance00:18:17 - Why technology can't replace geography00:23:29 - Land as collateral and the rise of...

Rob Carver returns for a conversation that quietly questions the foundations. Is trend following an edge - or just a reward for holding discomfort others can't? From the role of skew in shaping outcomes to the blind spots in most robustness frameworks, Rob and Niels takes you through the mechanics with uncommon clarity. Listener questions open up the deeper layers: when volatility targeting helps, when it hurts, and why Sharpe Ratios can mislead. They end with a shift that may matter more than it seems: CalPERS moving to a Total Portfolio Approach. Not just a new framework - potentially a new lane for CTAs.-----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 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 Rob on Twitter.Episode TimeStamps: 00:00 - Intro and welcome to the Systematic Investor Series00:23 - Catching up with Rob and a cold, sunny UK01:35 - Is trend following an edge or a risk premium?03:38 - Overcomplicating edges and the Cliff Asness perspective04:30 - Renaissance's bad month and how even legends struggle09:25 - Managed futures ETFs, performance narratives, and media framing11:22 - AI, Nvidia and what an “AI bubble” might mean for trends13:10 - Trend barometer, current positioning and where returns come from18:35 - George's question: robustness testing, overfitting and multiple testing25:45 - How often to re-fit models and when to leave parameters alone27:44 - Frederik's question: intraday versus end of day for medium term...

Recorded live from the Cboe RMC floor in Munich, Cem Karsan sits down with volatility veteran David Dredge for a deep exploration of what truly drives risk. From the crash of 1987 to today's era of correlation, Dredge reframes volatility not as fear, but freedom. Through his F1 “brakes” analogy, he reveals why protection enables performance, and how convexity builds resilience in an uncertain world. Together, they trace the arc from structured-product flows to demographics, fiscal repression, and the coming global “Hunger Games” for savings. A masterclass in compounding through uncertainty.-----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 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 Cem on Twitter.Follow David on X.Episode TimeStamps: 00:01:29 – Cem introduces David Dredge live from Munich.00:03:28 – Dredge recalls arriving in Asia before the 1987 crash.00:05:06 – The F1 brakes analogy—why protection enables speed.00:07:45 – The “preserve and enhance” portfolio that defied 65/35.00:10:57 – Rethinking 60/40 and the illusion of diversification.00:14:33 – Cem on $500 trillion of correlated assets.00:17:22 – Why covered calls lose to convexity over time.00:19:14 – Misreading 2022: correlation, not equities, was the risk.00:21:20 – When diversification fails, only convexity endures.00:27:13 – Value investing in volatility—buying what others suppress.00:37:48 – Euro...

What happens when the data goes dark, yet markets barely flinch? In this episode, Niels and Katy unpack the month of October defined by missing economic releases, relentless equity strength and three extraordinary days of Liberation Day turbulence. They explore why price often tells the truest story, how total portfolio thinking could rewrite the role of trend, and why short term strategies faltered while precious metals surged. The conversation then shifts to the coming wave of alternatives in private wealth and the silent risk inside target date funds, asking how managed futures can reshape retirement outcomes when timing paths go wrong.-----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 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 Katy on LinkedIn.Episode TimeStamps:00:00 - Introduction and catching up from Boston02:00 - Life without economic data and what markets really need04:20 - Price as the only truth and the limits of official data05:45 - CalPERS, total portfolio thinking and what it means for trend08:20 - AI, data centers and the inflation story hiding in electricity10:30 - Inflation regimes, unstable prices and why trend cares about change12:40 - Year to date trend review across equities, metals, FX and bonds15:10 - Why short term traders struggled in a headline driven year20:00 - Picking “the best strategy” and why robustness matters more than Sharpe24:10 - Parameters, speed of response and treating markets differently26:20

China's ascent tells two stories. One of power, precision, and industrial brilliance - the other of imbalance, aging, and constraint. In this episode, Alan Dunne and George Magnus trace the hidden geometry of that divide. They explore how a nation that builds for the future struggles to sustain its present: an economy split between advanced manufacturing and fading momentum, between the Party's control and the market's gravity. From local debt and demographic drag to rare-earth diplomacy and the politics of currency, Magnus sketches China not as a riddle to be solved, but as a system nearing the limits of its own design.-----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 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 LinkedIn.Follow George on Twitter.Episode TimeStamps: 00:00 – Opening and disclaimer02:23 – George Magnus on career path and China focus06:56 – Data, distortions, and how to analyze China credibly11:37 – Two-track reality: advanced industry vs. a strained macro base16:56 – Why consumption rebalancing keeps failing22:29 – Stock-market boosts vs. household wealth effects25:45 – China's “QE by other means”: credit, banks, LGFVs27:40 – Who's levered? Local governments and off–balance sheet debt29:51 – Japan echoes and key differences33:23 – Trade frictions, rare-earth leverage, and U.S.–China...

What if markets move not by logic, but by pressure? In this conversation, Alan Dunne and Yoav Git trace the invisible currents behind price formation, namely how a single dollar of inflow can lift valuations fivefold, and why that distortion challenges everything the efficient market promised. From the slow mechanics of supply and demand to the moral hazards of policy and liquidity, the discussion follows money as it reshapes narrative. They revisit research that foresaw inflation's return, and question why QIS indices so often fade in practice. Beneath it all lies a quiet question: what truly drives the modern market?-----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 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.Follow Yoav on LinkedIn.Episode TimeStamps:00:00:23 – Opening and agenda for the discussion00:01:05 – Math education in the UK and XTX's push to fund young talent00:03:39 – Market performance recap for early November00:04:49 – Reflections on volatility and fixed income trading conditions00:05:13 – Introduction to the “Inelastic Markets Hypothesis”00:05:53 – Supply, demand, and elasticity explained in market terms00:10:30 – Instrumental variables and how economists measure elasticity00:14:51 – The debate: if markets clear, how can flows move prices?00:15:44 – Why equities are more inelastic than bonds00:21:04 – Questioning the 5x effect and how...

Welcome to Dennis Prager’s Timeless Wisdom. Each Monday through Saturday, you’ll hear some of Dennis’s best lectures, talks, and series—with brief commercial breaks. To get the ad-free version of this podcast, and to access the full library of lectures, talks, and shows, visit dennisprager.com.See omnystudio.com/listener for privacy information.

Power shifts quietly, until it doesn't. In this episode, Niels Kaastrup-Larsen and Cem Karsan are joined by Adam Rozencwajg to trace the slow fracture of a system built on leverage, politics, and belief. From the echo of LBJ's confrontation with the Fed to today's invisible coercions, they explore how monetary regimes die, not in crisis, but in exhaustion. Inflation returns as behavior, debt becomes geometry, and commodities reclaim their voice. Through the lenses of shale decline, Venezuela's unrealized oil, and the steady ascent of gold, this conversation reveals a cycle completing itself. The story isn't new. Only the setting has changed.-----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 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 Cem on Twitter.Follow Adam on LinkedIn.Episode TimeStamps: 00:00 - Introduction03:12 - The rise of carry trades and the rhythm of global financial cycles08:44 - Political pressure, Fed history, and lessons from past monetary regimes13:47 - The end of carry, the dawn of stagflation, and the return of real assets20:47 - Inflation's return, debt dynamics, and the coming shift in the monetary system27:33 - Gold, negative real rates, and the psychology of inflation34:57 - The debt spiral, liquidity traps, and the quiet monetization of risk41:40 - Energy policy, shale decline, and the politics of “Drill Baby Drill”49:10 - Venezuela's oil chessboard and the geopolitical struggle...

Dave Druz spent six months living with Ed Seykota - not shadowing a trading system, but watching a way of being. In this bonus episode, he shares what that experience revealed: a style built on instinct, pattern, and total psychological clarity. No screens. No signals. Just presence. Dave tried to trade that way himself - made 300%, unraveled, and walked away. What emerges is less a portrait of Seykota than a meditation on the limits of imitation, the pressure of performance, and the discipline it takes to trade like yourself - especially after witnessing someone who doesn't.-----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 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 Moritz on Twitter.Episode TimeStamps:02:21 - Introduction to part 202:57 - Anecdotes from Druz' time working with Ed Seykota06:46 - The best trader the world has ever seen17:13 - The optimal bet size21:24 - What Druz learned from working with Seykota25:45 - Key lessons for managing drawdowns27:57 - How does one gets to become an apprentice of Ed Seykota33:00 - Living with Ed Seykota35:19 - Seykota's 10.000 dollar cookie maniaCopyright © 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...

As equity markets grind higher and trend strategies navigate sharp reversals, Moritz Siebert welcomes Nick Baltas of Goldman Sachs for a conversation that moves beyond performance to examine structure. Together they unpack the machinery of the $1.3 trillion QIS industry - from index design and client behavior to the subtle forces shaping capacity and crowding. They discuss how trading speed has become a key axis of dispersion, why volatility remains the hidden cost in systematic portfolios, and what resilience in markets might really be masking. This is not just about strategy. It's about how products scale, and how ideas hold.-----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 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 Nick on Twitter.Follow Moritz on LinkedIn. Episode TimeStamps:00:23 - Moritz opens the show and introduces Nick01:16 - Nick's quick life update and setting the tone02:45 - Market resilience vs. fragility in 202504:18 - Performance rundown: CTAs, trend, equities, bonds06:10 - October reversals: metals and livestock giveback07:32 - What's working: equities, gold, copper; sugar shorts08:58 - Trend speed, April V-shape, and dispersion10:40 - Position exits, re-entries, and neutral zones11:55 - How QIS differs and why it's opaque from the outside14:40 - How big is QIS? Asset class split and caveats18:05 - Who uses QIS: from asset owners to hedge