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Paul Chai joins Alan Dunne to discuss what it takes to manage a perpetual investment portfolio designed to support future generations. As CIO of the Kansas State University Foundation, Paul explains how disciplined asset allocation, thoughtful manager selection and strong governance create resilient long-term results. The conversation explores endowment investing, private markets, hedge funds, portfolio construction and the importance of building a decision-making culture where diverse perspectives are encouraged. It is a wide-ranging discussion about investing with humility, managing uncertainty and creating an investment process that can endure through changing market environments.-----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 Paul on LinkedIn.Episode TimeStamps: 00:00 - Why better investment decisions start with diverse thinking01:02 - Paul Chai's journey from engineering to institutional investing04:50 - Managing a perpetual endowment for future generations08:48 - Building resilient strategic asset allocations11:54 - The advantages of managing a $1.2 billion endowment15:29 - Portfolio construction beyond the traditional 60/40 model20:57 - Strategic asset allocation versus total portfolio investing24:05 - Lessons from the Yale Endowment model26:26 - Finding unconventional investment opportunities31:21 - Building a diversifying hedge fund portfolio38:02 - Why CTA strategies no longer fit the portfolio43:01 - Manager selection, due diligence and finding alpha45:39 - The importance of grit when selecting investment managers51:25 - Building better investment teams and decision-making cultures57:20 - Advice for the next generation of long-term investorsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
The future isn't hidden. It hasn't been written yet. That idea anchors this foundational conversation between Dave Dredge, Richard Brennan and Niels Kaastrup-Larsen, on what risk really means in markets. They challenge the mathematics behind modern portfolio construction, exposing how calm conditions can conceal leverage, how diversification can fail when it matters most, and why familiar measures such as volatility and Sharpe ratios often miss the forces that lead to permanent loss. From path dependency and complex adaptive systems to trend following, convexity and the geometry of wealth, this episode offers a different framework for investing under uncertainty. For anyone responsible for preserving and compounding capital, this is essential listening. Because the strongest portfolio is not the one built around being right, but the one prepared to survive being 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 Rich on Twitter.Follow David on LinkedIn.Episode TimeStamps:00:00 - Market review, July performance and introducing Dave Dredge08:01 - Why markets are complex adaptive systems18:49 - Price insensitive investors and the hidden drivers of markets26:03 - How market participants create fat tails and volatility31:38 - Where major market moves really come from39:05 - Ergodicity and why sequence matters in investing46:37 - The forest fire analogy for understanding financial risk51:15 - Why calm markets often hide the greatest dangers56:13 - Leverage, convexity and the source of market fragility01:00:53 - Why optimal portfolio construction can increase risk01:05:38 - Football, convexity and building resilient portfolios01:13:03 - Why the Sharpe ratio fails to measure real risk01:21:40 - Lessons for trend followers navigating complex marketsCopyright © 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
Why do recessions happen? Tyler Goodspeed joins Kevin Coldiron to challenge some of the most deeply held beliefs in economics. Drawing on more than three centuries of data from the United States and the United Kingdom, he argues that recessions are rarely the inevitable consequence of excess or financial imbalances. Instead, they are often triggered by unexpected external shocks that are difficult to predict. The conversation explores why expansions do not simply die of old age, why recessions fail to cleanse the economy, and what policymakers and investors should focus on instead when preparing for an uncertain 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 Kevin on SubStack & read his Book.Follow Tyler on LinkedIn and Read his Book.Episode TimeStamps: 00:00 - Why recessions are often caused by unexpected shocks00:54 - Tyler Goodspeed's research into four centuries of economic history06:05 - Why economic expansions do not die of old age13:48 - Debunking the boom and bust theory of recessions18:13 - Does monetary policy matter as much as we think21:57 - Financial crises, credit growth and what the data really shows27:11 - Why energy supply shocks have shaped economic history30:58 - Why the UK and US have experienced different recessions35:31 - Government intervention and whether it reduces recessions39:09 - Do recessions actually make economies stronger44:16 - Why the UK never returned to its pre 2008 growth trend47:51 - Financial repression, government debt and the lessons of 200851:32 - Randomness, resilience and preparing for economic shocks56:20 - Rare earths, energy security and the next potential recession triggerCopyright © 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
Send us Fan MailOn today's episode, we have Coach Megan Yawman. Megan started her college coaching career as an assistant at Carnegie Mellon University, where, during the 2024-2025 season, she helped lead the Tartans to the NCAA Tournament for the fourth time in program history. This year, she was recognized as a Women's Basketball Coaches Association (WBCA) Thirty Under 30 Honoree. The distinction celebrates not only on-court excellence, but also a coach's commitment to mentorship, community service, and their overall impact on student-athletes. Megan was recently named the head coach at Rensselaer Polytechnic Institute (RPI) and will head into her first season as a head coach during the 2026-2027 year. In this episode, we discuss:Stats and what they mean and what they missWhat she's looking for in recruits right nowWhat she would have done differently in her recruiting processThe role of social mediaWhat to put in your social media profileFilm and the pressure to post constantlyWhat helps the transition to collegeBeing on the right AAU team for youAnd much more!RPI Women's Basketball Recruiting FormRPI Women's Basketball InstagramRPI Women's Basketball Elite Camp InformationIf you have any questions for me or our future guests email hoopsthroughlife@gmail.comIf you're interested in connecting or working together, let's have a conversation - send me an email today - hoopsthroughlife@gmail.comCheck out Hoops Through Life on: Hoops Through Life WebsiteXInstagramFacebookThe views and opinions shared by coaches and other professionals on this podcast are solely their own and do not necessarily reflect those of Hoops Through Life. Hoops Through Life is an independent entity, not affiliated with any school or coach, and is not responsible for the opinions expressed by these individuals.
Niels Kaastrup-Larsen and Nick Baltas explore how artificial intelligence, thematic investing and narrative momentum are beginning to reshape systematic investing. Alongside a review of recent CTA performance, they discuss new research on expanding trend following universes, defensive portfolio construction and portable alpha before taking a deep dive into the growing role of AI and thematic risk models. The conversation examines whether future investment signals may come from more than price alone and how systematic investors can combine traditional trend following with new sources of information without losing the discipline that has defined the strategy for decades.-----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 - AI, memories and the changing pace of innovation06:32 - How investment firms are integrating artificial intelligence13:01 - CTA performance and the trend following environment20:34 - Expanding the market universe for trend followers28:17 - Building the perfect hedge with trend following34:25 - Portable alpha and leveraging trend strategies37:44 - Introducing thematic investing and missing factors44:59 - How narratives create momentum in financial markets50:43 - Measuring thematic strength versus price momentum58:41 - Can thematic investing be backtested?01:04:14 - Are narratives really different from traditional sectors?01:07:06 - Final thoughts on AI, research and the future of systematic investingCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Charlie McGarraugh joins Moritz Seibert to discuss how systematic investing is evolving beyond traditional trend following. Drawing on experience from Goldman Sachs, crypto and machine learning, Charlie explains why adaptive portfolios, capital efficiency and smarter position sizing may become the defining advantages for the next generation of macro investors. They explore the rise of managed futures ETFs, China's growing futures markets, the trade off between diversification and simplicity, and why portfolio construction often matters more than finding the next predictive signal. It is a thoughtful conversation about where systematic investing may be heading next.-----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:00:00 - Why position sizing may matter more than return prediction01:03 - Charlie McGarra's journey from Goldman Sachs to Altis Partners09:03 - The history of Altis Partners and its evolution beyond trend following11:19 - Building a multi factor macro strategy around trend16:02 - Why adaptive investing is becoming increasingly important21:49 - The growth of managed futures ETFs and reaching new investors25:27 - Designing ETFs for diversification and capital efficiency30:30 - Why Chinese commodity futures offer unique opportunities40:41 - New ideas around leverage and capital efficiency42:37 - Kelly sizing, drawdowns and maximizing long term returnsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
In this episode we'll talk about:Why we default to fear that God will leave us halfway through what God started in usThe biblical pattern of calling always including the sustenance to complete itWhy the middle of the journey is where doubt shows up loudest — and how to interpret that doubtHow to recognize the provision that's been there the whole timeWhy the discomfort of the middle isn't a sign God has abandoned you — it's a sign the work is realWhat becomes possible when you finally trust that the God who called you is the same God carrying youAnd more… START HERE…→ Join The Niche Is You® — my Substack (20K+) — Weekly essays, the full workshop library, the private community + the Quarterly Challenges. → https://mattgottesman.substack.com/aboutNEW HERE…→ 6 Days to Clarity Workshop — clarity for your time, energy, money, creativity, work & play. → https://mattgottesman.com/reverse-engineer-your-life (FREE)CONNECT WITH ME…→ Instagram — @mattgottesman→ TikTok — @mattgottesman→ YouTube — @mattgottesmanRESOURCES…→ Write • Design • Build — my Content Creator Studio & OS masterclass (Included when you join my Substack) — Growing the niche of you, your audience, reach, voice, passion & income — CLICK HERE→ Recommended Book List — CLICK HERE→ Apparel — thenicheisyou.comOTHER RELATED EPISODES:Faith Isn't Knowing the Whole Path… It's Taking the Next Honest StepApple: https://apple.co/3MB62IuSpotify: https://bit.ly/4rZw3RN
Imagine you finally logged off. It's the first real vacation you've taken in years. The coffee's hot (or iced), the phone's in the other room, and for once, nobody needs you. This is why you went solo in the first place. Work you actually care about, on your terms. The freedom to close the laptop and just… be there. The business hums along without you standing over it. You breathe.And then the phone buzzes.It's the one thing only you can handle. So you grab the laptop. And just like that, you're working again — because when you're solo, everything runs through you. Every task. Every email. Every little fire. The overwhelm never really lifts. So what happened? And more importantly — how do you build a business that doesn't fall apart the second you step away?That's what we explore here on Streamlined Solopreneur.I'm Joe Casabona. I went from so overwhelmed I had a panic attack, to taking four to six weeks off a year — worry-free. And I've helped hundreds of solopreneurs build the systems that finally gave them their time back.Every week, I'll bring you one clear idea to help you:Beat overwhelm with systems you can actually trustGet your time backBuild a business that doesn't depend on youAnd put AI on the tasks — not the thinkingThese are short episode that tackle one idea or piece of advice you can put into action today. Because "solopreneur" was never supposed to mean doing it all yourself. It should mean a business you can step away from — free to take a real break, and free to do the work you actually want.If that's the business you're after, this show is for you. subscribe wherever you're listening, and let's get to work.
Markets are evolving in ways that few investors fully appreciate. Niels Kaastrup-Larsen and Yoav Git explore how changing market structure, the rise of retail options trading and new financial products are reshaping trend following. They discuss why short term strategies have become more challenging, whether single stock futures could open new opportunities, and what recent research reveals about narratives, thematic investing and diversification. Along the way they examine commodities, equity markets and the practical realities of systematic investing, offering a thoughtful perspective on how trend followers continue to adapt as markets become increasingly complex.-----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 - England, the World Cup final and new futures market innovations06:30 - Bruno Mars, hedge fund blow up risk and AI investment concerns12:40 - July trend following performance and market positioning18:31 - Front month futures, commodity curves and trend following signals25:03 - CFM's Seven Degrees of Market Structure36:49 - Why single stock futures and options are changing equity markets39:56 - The decline of short term trend following explained47:50 - Thematic investing and where equity risk really comes from55:06 - Narrative momentum and how news drives market behaviour01:02:45 - Building a diversified equity trend strategy01:05:04 - Final thoughts on the future of systematic investingCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
More than a billion barrels of expected oil supply have been removed from the market. Yet prices suggest the danger has passed. Adam Rozencwajg joins Cem Karsan and Niels Kaastrup-Larsen to explain why that conclusion may be dangerously premature. The missing barrels have not disappeared from the equation. Their impact is still moving through tankers, refineries and inventories, hidden by reporting delays and China's strategic response. From the limits of petroleum reserves to falling stockpiles, gold's correction and the energy required to power AI, this episode examines a market caught between what prices are saying and what the physical system may soon reveal.-----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 - Why commodity super cycles are driven by capital investment, not geopolitics09:30 - The impact of Middle East supply disruptions on global oil markets15:38 - Oil inventories, strategic reserves and why the data may be misleading21:57 - China's energy strategy and its growing influence on global markets31:23 - Why energy markets have not reacted as many investors expected37:13 - China's long term energy transition and global demand implications43:59 - Why oil prices have fallen despite tightening fundamentals48:12 - The outlook for oil markets over the coming months58:25 - Gold, investor positioning and what could trigger the next rally01:02:59 - Strategic government investment and the future of critical commodities01:09:22 - Why energy remains the biggest opportunity in the AI boom01:11:53 - Final thoughts on where commodity markets go from hereCopyright © 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 continue to evolve, and so do the strategies designed to navigate them. Alan Dunne joins Niels Kaastrup-Larsen to explore why changes in market structure may have permanently altered short term trend following, and what that means for systematic investors. They discuss a fascinating new research paper on market microstructure, the changing role of liquidity, the rise of high frequency trading and why faster no longer necessarily means better. Along the way they examine the Federal Reserve's evolving communication strategy, the outlook for commodities, and why regime change continues to create both risks and opportunities for trend followers.-----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 - Summer reading, Jeremy Grantham and lessons from early quantitative investing 05:22 - Shrinking retail products, smaller futures contracts and the rise of retail trading12:18 - First half performance review for CTAs and trend followers15:36 - Commodity markets, Middle East tensions and the AI driven demand story20:09 - Kevin Warsh, Fed communication and a new era for monetary policy30:34 - Why regime change strengthens the case for trend following38:34 - The research behind the decline of short term trend following46:44 - Tick size, liquidity and what changed in market microstructure49:43 - Alternative explanations for why fast trend has struggled55:35 - Execution, market participants and the future of systematic trading01:00:45 - Final thoughts on the next evolution of trend followingCopyright © 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 which Rachel and Lauren give progressively easier quotes to each other to guess the movie.Comprising films from the 2010s, 2000s, 1970s, and 1940s. Submit your songs to the Listener Submitted Podcast Playlist! 1 - Current Obsession2 - Song with a sweet, sweet instrument solo3 - Song that grounds youAnd remember to watch O Brother Where Art Thou and submit your review here: https://docs.google.com/forms/d/e/1FAIpQLSdr_2vNcBNSFlZ5MFdvg9cVBlu6QQbbQe3bmrKywf-xoJ74og/viewform?usp=send_form
The US dollar has become so familiar that most investors rarely stop to ask how it became the world's dominant currency or why that dominance has endured. Brendan Greeley joins Alan Dunne to trace the dollar's remarkable journey from a silver coin in sixteenth century Europe to the foundation of modern global finance. Along the way they explore the hidden mechanics of money creation, the evolution of offshore dollars, the Federal Reserve's expanding role, and why the institutions supporting the dollar may matter far more than politics. It is a conversation that challenges many of the assumptions investors hold about money, banking and monetary policy.-----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 Brendan on X.Episode TimeStamps: 00:00 - Why the Fed's balance sheet deserves far more scrutiny00:57 - Brendan Greeley's journey from journalism to monetary history06:36 - How studying financial history changed his view of economics11:38 - The hidden difference between big money and small money17:43 - How the dollar existed before the United States26:40 - Why the dollar became the world's reserve currency29:36 - The birth of the Eurodollar market and offshore money creation34:53 - What really supports the dollar's global dominance40:09 - Could global finance split into competing currency blocs44:21 - Has the Federal Reserve become too powerful50:01 - Why QE, the Fed's balance sheet and future reforms matter52:53 - Brendan Greeley's essential book recommendationCopyright © 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
Send us Fan MailLearn more about Neighbourhood Holdings here: https://go.neighbourhoodholdings.com/angrymortgageNeighbourhood Holdings is licensed as a Mortgage Administrator (NS #2025-3000660, ON #13679), Lender (NS #2025-3000354), and Brokerage (ON #13753). (AD)Special Guest David Herle- Partner at Rubicon Strategy and host of the Curse of Politics and Herle Burly podcasts David is one of the Top 2 or 3 Political Commentators in Canada & 40-year Polling ExpertWe talk about Polling, politics, the economy, what's the future for young Canadians & Working-Class people Who sees themselves as Middle Class in Canada anymore that answer may surprise youAnd what's Prime Minister Mark Carney really like?Support the show
Markets may be entering one of the most important regime shifts in decades. Cem Karsan joins Niels Kaastrup-Larsen to argue that the United States is moving away from traditional free market capitalism towards a far more strategic model where government, markets and technology become increasingly intertwined. They discuss why positioning continues to dominate market behaviour, the growing role of sovereign investment, the future of AI driven capital spending, and why the next major turning point may arrive after the US midterm elections. It is a conversation that challenges conventional market thinking and explores how politics, policy and capital are becoming inseparable.-----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 - America at 250 and why major turning points often arrive after two and a half centuries03:43 - Why positioning matters more than headlines in today's markets07:53 - Soft US jobs data and the disconnect between markets and the economy09:15 - June performance review for trend followers and CTAs15:14 - Why America may be adopting a more strategic form of capitalism19:14 - The case for a US sovereign wealth fund and reshaping the financial system30:31 - Why the US dollar remains America's greatest strategic advantage37:52 - AI investment, capital spending and why this cycle may be different45:46 - Kevin Warsh, Scott Bessent and the changing relationship between the Fed and Treasury50:03 - The Summer of George and why market positioning dominates the summer months52:22 - Why the US midterm elections could become the next major market catalyst57:59 - Looking ahead to the second half of 2026Copyright © 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
While much of the world is focused on geopolitical conflict, inflation and rising global tensions, Pippa Malmgren argues that a very different future may already be taking shape. Joining Niels Kaastrup-Larsen and Cem Karsan, she explores how artificial intelligence, advanced energy, shifting diplomacy and technological innovation could reshape the global economy and even reduce the risk of war. From the future of the US dollar and China to nuclear energy, robotics and non human intelligence, this conversation challenges conventional thinking and offers an unusually optimistic perspective on one of the most consequential periods in modern history.-----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 Pippa on X.Episode TimeStamps: 00:00 - Why Pippa believes the future is far more optimistic than most expect01:05 - Reuniting after four years and revisiting major geopolitical themes03:11 - Digital finance, transparency and the changing role of the US Treasury06:40 - Ukraine, foreign policy and the debate over hidden funding networks12:01 - Why Pippa believes the world is moving toward a superpower rapprochement22:17 - The US dollar, China and competing visions of global leadership30:49 - Lessons from history, diplomacy and the search for lasting peace39:38 - Nuclear energy, AI and the race toward technological abundance45:48 - Populism, inequality and whether AI will widen or close the wealth gap55:32 - How societies can prepare for an AI driven future58:10 - Greenland, the Arctic and the strategic battle for space infrastructure01:04:20 - Pippa's father, diplomacy and the lessons that shaped her worldview01:09:28 - Non human intelligence, AI and the profound questions facing humanityCopyright © 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 rarely move in straight lines, but periods of uncertainty often create the biggest opportunities for systematic investors. Niels Kaastrup-Larsen and Mark Rzepczynski examine why geopolitical shocks, changing Federal Reserve leadership and shifting market regimes continue to shape trend following performance. They explore why only a handful of markets often drive returns, how diversification really works when correlations suddenly rise, and why managed futures have historically stood apart during periods of elevated volatility. Along the way, they discuss the future of monetary policy, economic data, AI driven productivity and what investors should watch as the second half of the year unfolds.-----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 - Boston's World Cup beer shortage and remembering Alan Greenspan05:14 - Greenspan's legacy, interest rates and lessons from 199410:45 - Trend following performance and the markets driving returns14:14 - Why diversification matters and how many markets are enough20:47 - Looking ahead to the second half of the year23:10 - What defines a market regime change27:49 - The new Fed Chair and five major policy priorities39:12 - Why monetary policy changes matter for trend followers48:28 - Research into hedge fund strategies and risk regimes56:06 - Why managed futures stand out during periods of market stress01:02:30 - Portfolio construction and the role of managed futures in uncertain marketsCopyright © 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
Manoj Pradhan returns to Top Traders Unplugged to explain why the forces that kept inflation and interest rates low for decades are now reversing. Drawing on themes from The Great Demographic Reversal and his new book The Unanchored Central Banker, he argues that aging populations, labor shortages, rising fiscal deficits, and the changing role of central banks are creating a very different macroeconomic landscape. The conversation explores why demographics matter more than many models assume, whether AI can offset labor shortages, and why central banks may increasingly be forced to choose between controlling inflation and maintaining fiscal stability.-----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 Manoj on LinkedIn and Read his Book.Episode TimeStamps: 00:00 - Why demographics matter for inflation and central banks03:05 - The demographic sweet spot that lowered inflation and rates06:28 - Why labor supply is now reversing12:15 - Global birth rates and the replacement rate problem17:03 - The fiscal blind spot in conventional economic models20:31 - Housing, urbanization, and real interest rates27:03 - Can AI offset labor shortages?37:24 - Policy ideas to increase labor supply and manage aging45:40 - Why central banks may become “unanchored”50:40 - The tension between inflation control and debt stability54:49 - Could high rates trigger a crisis and force policy reversal?58:28 - Final thoughts on demographics, debt, and the future of inflationCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Trend following investors are constantly searching for ways to improve performance, but not every improvement survives contact with reality. Rob Carver joins Niels Kaastrup-Larsen to explore whether investors should chase the strongest trends, how different asset classes contribute to returns across market cycles, and why overfitting remains one of the biggest dangers in systematic investing. They also discuss the rise of AI generated trading strategies, the debate around perpetual futures, the changing role of economic data, and what diversification really means when markets become driven by a handful of dominant forces.-----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 and summer optimism in the UK02:10 - Middle East developments, SpaceX and the new Fed Chair06:13 - Concerns about economic data and market transparency10:38 - Trend following performance and current market positioning14:39 - How Rob evaluates strategies and portfolio construction19:57 - The factor zoo and true sources of return22:37 - What trend following adds beyond traditional risk premia29:54 - The rise of perpetual futures and exchange concerns42:35 - Quantica research on trend performance across asset classes55:01 - Why commodities have become a dominant source of trend returns56:06 - AI generated trading strategies and the risk of overfitting01:05:48 - Drawdowns, diversification and lessons from recent researchCopyright © 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
Michael Pettis joins Alan Dunne for a wide ranging conversation on trade imbalances, globalization and the future of the world economy. Drawing on decades of research into China, Europe and financial history, Pettis argues that persistent trade surpluses are ultimately rooted in domestic income imbalances rather than national competitiveness. The discussion explores why China struggles to rebalance, why Europe may face its biggest challenge yet, and how US reindustrialization could reshape global trade. From Bretton Woods to modern tariffs, this episode offers a provocative framework for understanding the forces driving the next phase of the global economy.-----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 Michael on X.Episode TimeStamps: 00:00 - Michael Pettis warns that the real trade reckoning may still lie ahead01:07 - Introduction to Michael Pettis and his background in finance and economics06:34 - Why trade imbalances are ultimately driven by income imbalances09:59 - Germany's Hartz reforms and the roots of European imbalances17:22 - Competitiveness versus productivity and the hidden costs of wage suppression27:48 - China's growth model and why rebalancing has proved so difficult35:54 - Who will absorb China's trade surplus if the US closes its deficit?40:24 - Can the United States successfully reindustrialize?45:31 - Why Europe may eventually turn toward protectionism52:17 - The US deficit, global capital flows and the burden of dollar dominance01:01:50 - Why the renminbi is unlikely to replace the dollar01:10:45 - Historical trade imbalances and how painful adjustments unfold01:16:21 - What Japan's experience reveals about China's future01:21:02 - Final reflections on debt, globalization and economic adjustmentCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Trend following has long promised and delivered diversification, crisis protection and uncorrelated returns. Yet many investors still struggle to hold it through difficult periods. In this conversation, Andrew Beer and Eric Crittenden explore why that gap exists and how combining trend following with equities may create a more durable portfolio. Together with Niels Kaastrup-Larsen discuss the rise of managed futures ETFs, the debate between simplicity and complexity in systematic investing, and why algorithmic discipline allows investors to act when intuition fails. The episode also examines portfolio construction, product design and the evolving role of alternatives in a changing investment landscape.-----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.Follow Eric on LinkedIn.Episode TimeStamps: 00:00 - Introduction to the Systematic Investor series and the week's guests02:19 - Eric reflects on recent market trends and challenging periods for trend followers03:15 - Andrew shares optimism about AI, innovation and technological progress06:25 - Elon Musk, SpaceX and the future of technological disruption09:22 - The evolution of managed futures ETFs and the growing demand for alternative strategies15:58 - How ETF liquidity works and why portfolio construction matters19:40 - The case for combining equities and trend following into one portfolio21:37 - Eric explains the philosophy behind his multi asset approach31:15 - Product design, allocator behavior and why diversification often fails in practice40:44 - Simplicity versus complexity in systematic investing46:58 - Why elegant models often fail in real world markets57:05 - Sharpe ratios, diversification and combining multiple return streams59:52 - Andrew introduces the idea of Contrarian Tactical Alpha01:02:55 - Eric on algorithmic discipline and why trends are uncomfortable to follow01:05:26 - Final thoughts on trend following, risk management and portfolio constructionCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
As Kevin Warsh prepares to take the reins at the Federal Reserve, a deeper question emerges: has the Fed reached the limits of what monetary policy can achieve? Cem Karsan sits down with Danielle DiMartino Booth to explore the growing tensions between inflation, debt, financialization, and political pressure. From the future of quantitative easing and Treasury market risks to the rise of populism and the long term consequences of decades of intervention, this conversation examines whether the United States is approaching a turning point that could redefine the relationship between markets, government, and the Federal Reserve.-----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 Danielle on X.Episode TimeStamps: 00:00 - Introduction and why Kevin Warsh's arrival at the Fed matters02:25 - Warsh steps into a divided Federal Reserve05:13 - The debt problem and the pressures facing policymakers07:52 - Can Warsh avoid another era of quantitative easing?10:00 - Interest rates, inflation, and the limits of Fed policy17:53 - Revisiting Arthur Burns and the lessons of the 1970s23:02 - Treasury buybacks, debt monetization, and market stability29:27 - Populism, demographics, and the future inflation outlook37:34 - Is the Fed's mandate shifting toward managing government debt?43:06 - Sovereign wealth funds and the possibility of equity market intervention45:56 - Would merging Treasury and the Fed end central bank independence?49:59 - Has the Federal Reserve broken the natural business cycle?51:22 - Final thoughts on crisis, reform, and America's economic futureCopyright © 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
O Lord Jesus Christ,In the most holy sacrament of the EucharistYou give us Your Body and Bloodas the food of eternal life.Increase in us faith, love, and reverencefor this great mystery of Your presence.Nourish our soulswith the Bread of Heavenand strengthen us in Your gracethat we may live always in union with Youand serve You faithfully all our days.O Jesus, truly present in the BlessedSacrament,be our light, our strength, and our salvationnow and forever. Amen.
Geopolitical tensions, inflation shocks, and shifting market regimes are reshaping the investment landscape. Marat Molyboga and Katy Kaminski joins us to explore why managed futures have historically performed well during periods of geopolitical stress and why investors often misunderstand the role of crisis alpha in a portfolio. The conversation examines inflation driven market disruptions, diversification, short term versus long term trend following, portfolio construction, and the behavioural mistakes that prevent many investors from capturing the full benefits of trend strategies. It is a wide ranging discussion about risk, uncertainty, and adapting to a changing world.-----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 welcome to the Systematic Investor series01:13 - Marat Molyboga's background and Efficient Capital's investment philosophy05:29 - World Cup excitement, soccer stories, and thoughts beyond markets11:36 - AI, market concentration, energy trends, and major macro headlines15:16 - Trend following performance review and key market drivers in 202623:36 - Understanding crisis alpha and the role of managed futures in portfolios33:24 - Diversification, portfolio construction, and avoiding investor mistakes44:08 - Geopolitical risk research and its connection to inflation53:01 - Why managed futures have historically benefited from geopolitical uncertainty59:01 - Commodities, inflation shocks, and the mechanics behind crisis alpha01:06:47 - The case for short term trend following and execution challenges01:20:31 - Final thoughts and lessons for navigating an uncertain investment landscapeCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
In this episode, I explore the gut–brain connection from a completely different angle than most conversations you've probably heard.Yes, gut health matters. Yes, inflammation, dysbiosis, and digestion are important.But I also want to expand your awareness beyond food alone — because your internal state is influenced by much more than what you eat.1. Your Diet Is More Than FoodWhen I talk about “diet,” I'm not only talking about nutrition.Your diet also includes:What you watchWhat you listen toThe environments you stay inThe conversations you engage inThe people around youAnd the voice in your headAll of this becomes input into your system.So when we talk about gut health, we can't ignore the emotional, mental, and environmental inputs that are constantly shaping your internal state.2. The Gut–Brain Communication LoopYour gut and brain are in constant communication through the nervous system — especially through pathways like the vagus nerve.What I want you to understand is this:Your thoughts are not separate from your physiology.A thought can shift your internal chemistry, and your internal chemistry can reinforce your thoughts.It's a loop.3. Triggers Start the Entire Chain ReactionA trigger is anything picked up through your five senses:What you seeWhat you hearWhat you smellWhat you tasteWhat you physically feelWhen a trigger connects with a stored emotional memory, it creates a thought automatically.Most of the time, this happens without conscious awareness.4. Thought → Emotion → Body ResponseEvery thought creates a chemical response in the brain, which then influences how the body responds.That means:Thoughts of fear can shift the body into protection modeThoughts of safety can support digestion and regulationRepeated thought patterns create repeated body responsesOver time, these patterns become automatic loops.5. Conditioned Eating and Emotional LoopsMany cravings are not just about food — they are learned associations.For example:Certain foods linked to comfort in childhoodEating used as emotional regulationSmells or tastes triggering safety memoriesThese patterns are not random. They are conditioned responses your nervous system has learned over time.6. Digestion Follows State, Not Just FoodOne of the most important things I want you to understand is this:Your digestive system responds to your internal state.When the body is in stress or protection mode, digestion is not prioritized.When the body feels safe and regulated, digestion and metabolic processes function more efficiently.7. The Real Shift: Awareness Over ControlInstead of only asking:“What should I eat?”Start asking:“What is my system responding to right now?”“What triggered this shift in me?”“What pattern am I repeating unconsciously?”This is where real change begins — not in restriction, but in awareness.Struggling with emotional or binge eating? Download my free guide, Calm the Craving: 7 Steps to Break Emotional and Binge Eating and finally end the cycle of out-of-control eating: www.sherryshaban.comWork With Sherry Shaban:Book your FREE 30-minute Food Freedom Call and start your journey to lasting change! www.sherryshabanfitness.com/clarityListen & SubscribeCatch more episodes at www.makepeacewithfood.com/podcast or subscribe on Spotify, Apple Podcasts, or YouTube so you never miss an episode!Connect & Go DeeperJoin our Facebook Community: www.myfoodfreedomlifestyle.comWork with Sherry: www.sherryshaban.com/transformExplore more resources: www.makepeacewithfood.comShare Your TakeawayTag us on Instagram (@makepeacewithfoodofficial), Facebook (@MakePeaceWithFoodOfficial), TikTok (@sherryshaban), or LinkedIn (sherryshaban) and share your biggest insight from this episode!
How do quantitative investors adapt when markets, technology and macro regimes are constantly changing? In this conversation, Alan Dunne sits down with George Patterson, CIO of PGIM Quant Solutions, to explore the evolution of systematic investing from the 1990s to today's AI driven landscape. They discuss regime detection, inflation risk, portfolio construction, machine learning, private markets, volatility overlays and the growing role of language models in investment research. George also shares insights from decades in quant investing, including lessons from Covid, the importance of model discipline and why communication skills matter as much as technical expertise.-----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 George on LinkedIn.Episode TimeStamps: 00:00 - Introduction to George Patterson and his journey from physics to quantitative investing03:12 - Why multidisciplinary teams matter in modern quant investing04:13 - Inside PGIM Quant Solutions and the evolution of multi asset investing06:03 - How markets and macro investing have changed since the 1990s09:12 - The future of the 60/40 portfolio and institutional portfolio construction12:11 - Private markets, liquidity challenges and institutional investor concerns13:25 - Inflation, commodities and building modern inflation hedges19:33 - Detecting macro regimes using quantitative models23:26 - The hardest part of systematic investing: trusting the process27:00 - Covid, model failures and managing regime shifts in real time30:07 - Portfolio protection, options strategies and volatility overlays32:01 - How AI and large language models are transforming quantitative research40:02 - Fiscal risks, inflation concerns and the changing rate environment44:26 - Simplicity versus complexity in quantitative model design48:05 - Why markets evolve faster today and how models must adapt51:08 - Retail investors, meme stocks and market distortions53:33 - Emerging markets and where long term opportunities may exist55:08 - The future of quant investing and the limits of AI hype57:10 - George Patterson's career advice for aspiring quantsCopyright © 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 of Spiritual As F**k!, we unpack the massive shift happening globally as more people move away from the mainstream and search for something deeper.From corporate leaders exploring breathwork and meditation, to everyday people seeking nervous system regulation, holistic healing, spirituality and conscious community… the conversation around wellness, healing and personal growth is changing fast.But there's also a problem.People are actively searching for trusted practitioners, retreats, workshops and support… yet so many incredible practitioners remain hidden, overwhelmed by visibility, marketing and the pressure to put themselves out there.In this episode, we share our own experiences navigating spirituality, business, burnout, leadership and the challenge of finding aligned practitioners you can genuinely trust.And by the end of the conversation, we realised something bigger needed to exist.In this episode:Why more people are questioning the mainstreamThe rise of spirituality in corporate leadershipWhy so many practitioners stay hiddenThe struggle of visibility, confidence and “backing yourself”Why people are craving deeper connection and communityThe hidden problem nobody is solving in the wellness industryPLUS… we officially reveal THE SPACE.A brand-new community and future global directory designed to connect people with trusted practitioners, experiences, events, retreats, workshops and real conversations in the spirituality, wellness and personal growth space.We also launch BACK YOURSELF, a global call-out encouraging incredible practitioners, healers, coaches and facilitators to stop hiding, back themselves, and step into greater visibility, connection and impact.BACK YOURSELFWe are officially beginning the search for incredible practitioners in the spirituality, wellness and mental health space who are ready to BACK THEMSELVES.Whether you're just starting to put yourself out there… or you already have an established business and you're ready to grow it bigger, connect with more people around the world, and put a bigger spotlight on what you do… this is for youAnd if you know someone incredible who needs to back themselves more… nominate them now. BACK YOURSELF HERE.NOMINATE SOMEONE HERE. #BackYourself #HolisticWellbeing #ConsciousLeadership#SpiritualEntrepreneur #MindBodySpiritSpiritual As F**k! Podcast with Liz Volpe & Dianne DriscollCONNECT WITH US:Did you know that we are building a movement of 1 million people who are Spiritual As F**k! We would love for you to join us! Leave us a five star review with an awesome comment on Apple podcasts or Spotify, and we will send you a free ticket to one of our LIVE monthly “Downloads with Liz & Dianne” sessions, which we host exclusively for our Spiritual Renegades members!We love hearing stories from others so please tell us about your awakening experiences or share any of your personal Spiritual As F**k! stories via DM to our Instagram page. ▶︎ Join THE SPACE https://www.facebook.com/groups/thespacegroup ▶︎ Join our Membership Community https://www.spiritualaf.co/joinourtribe▶︎ Instagram https://www.instagram.com/spiritual.a.f/▶︎ Linktree https://linktr.ee/spiritualasfuck▶︎ Website https://spiritualaf.co/▶︎ Liz https://linktr.ee/IntuitiveLiz▶︎ Dianne https://linktr.ee/diannedriscoll
What happens when markets stop behaving like machines and start behaving like living systems? In this episode, Richard Brennan joins Niels to explore passive investing, complex adaptive systems, volatility suppression, and the hidden forces reshaping modern market structure. From structured products and reflexive flows to demographics, trend following, and the fragile illusion of equilibrium, this conversation asks whether markets are becoming more unstable precisely because investors believe they have become safer. A thoughtful and layered discussion about why price discovery may be weakening, why trends persist, and why systematic strategies may be more relevant in a world increasingly shaped by feedback loops.-----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 episode and overview of today's discussion02:22 - Richard Brennan breaks down passive investing through the lens of complex adaptive systems06:51 - What “complex adaptive systems” actually means in markets14:53 - Why passive investing changes market structure without individual investors realizing it24:06 - Niels discusses structured products, volatility suppression, and market fragility29:23 - How demographic shifts could eventually reshape passive investing trends35:37 - Trend following performance update and the TTU Trend Barometer38:48 - Listener question on variance, volatility, and correlation in systematic trend following42:04 - The “murmuration” analogy and why markets behave like flocks instead of machines48:31 - Why equilibrium theory survives despite failing to explain real markets51:17 - The endogenous engine of markets and the mechanics of reflexivity57:47 - How trend followers align with the architecture of modern markets01:03:12 - Why passive investing weakens balancing forces and strengthens trends01:13:43 - The statistical evidence showing markets structurally trend over time01:21:18 - Why trend following may become even more effective in the futureCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
On this episode we are joined by Dr. Rainer Zitelmann, to discuss his book New Space Capitalism: The Entrepreneurial Path to the Stars. We discuss why government-funded space programs were initially successful but also why the future of space exploration, and the space economy, will be driven by private companies. Dr. Zitelmann explains what he believes to be the key driver of unlocking the economic potential of space and why it's conceivable that ventures such as space tourism, orbital data centers and asteroid mining might be listed on the stock exchange. This is a conversation for everyone who wants an early look at an industry that is about to “take off”!-----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 Rainer on Instagram and read his book.Episode TimeStamps: 00:00 - Why incentives may explain why humans stopped going to the moon01:07 - Kevin introduces Dr. Rainer Zitelmann and New Space Capitalism02:47 - How childhood fascination with space led to a lifelong interest05:45 - Why Apollo succeeded and why it may have been a historical exception09:22 - The Space Shuttle program and the limits of government-led innovation13:50 - How SpaceX changed the economics of launch services20:32 - Why private property rights may be essential for space capitalism24:36 - The legal uncertainty around owning land and resources in space32:23 - How Mars settlement could be financed through private ownership42:49 - Asteroid mining, space resources and the business case beyond Earth48:06 - Space tourism and why early innovation often starts with the wealthy53:51 - How investors might think about the emerging space economy58:27 - Why space capitalism is no longer science fictionCopyright © 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
The world of systematic investing is evolving fast, and in this episode Nick Baltas joins Moritz Seibert to explore the explosive growth of QIS strategies, the current state of trend following in 2026, and the challenges facing systematic investors in today's macro environment. They discuss crowding risks in quantitative strategies, the recent collapse in commodity curve carry, and why some trend managers continue to outperform through broader diversification and alternative markets. The conversation also dives into execution alpha, AI driven research workflows, inflation risks, and the ongoing institutional demand for systematic macro strategies. A sharp and highly practical discussion for anyone interested in trend following, QIS, commodities, and quantitative investing.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” 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:00:00 – Introduction to the episode01:17 – Nick Baltas on AI, research, and market volatility03:02 – Trend following performance update for May 202606:25 – What investors are focusing on in QIS strategies10:14 – Is there cyclicality in investor demand for QIS?15:25 – Wall Street Journal article on the growth of QIS17:15 – Crowding risks and overlapping systematic strategies24:15 – Can hedge funds front run QIS trades?27:46 – Commodity curve carry explained30:48 – Largest drawdown ever for commodity curve strategies33:59 – Is now the right time to buy commodity curve carry?37:20 – Why some curve carry implementations still made money40:01 – Trend following performance across alternative vs traditional markets44:21 – Why broader trend portfolios may improve Sharpe ratios47:22 – Listener question: Is there alpha in execution?49:53 – How CTAs think about execution and slippage53:50 – Why trend following on single name equities is rare57:58 – Chesapeake's single name trend approach59:04 – Final thoughts and wrap upCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Hari Krishnan joins Niels and Cem for a deep exploration of what happens when markets become dominated by flows rather than fundamentals. Drawing on his new paper with Mike Green and Stefan Sturm, Hari explains why rising passive ownership may weaken price discovery, amplify concentration in mega-cap stocks and create conditions for reflexive instability. The conversation expands far beyond indexing, touching on volatility targeting, leverage, dispersion, inflation, government intervention and the growing dependence of the global economy on rising asset prices. Along the way, Cem and Hari debate whether policymakers can continue stabilizing an increasingly fragile system, what could trigger a structural break, and how investors should think about positioning in a world where flows may matter more than fundamentals.-----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 Hari on LinkedIn.Episode TimeStamps: 00:00 - Hari warns about a fragile financial system dependent on a handful of decision-makers01:06 - Niels introduces Hari's new paper with Mike Green and Stefan Sturm03:00 - Why passive investing may weaken the link between fundamentals and prices08:40 - The key assumptions behind the model12:49 - How passive adoption accelerated structural market changes15:11 - Cem explains why markets may now drive the economy rather than reflect it23:38 - Can policymakers control a complex financial system?27:03 - How passive flows amplify mega-cap concentration31:22 - The changing role of dispersion, volatility and positioning41:04 - What the model suggests about instability at high passive ownership levels46:21 - Why 2022 may have been a warning sign51:55 - Inflation, government intervention and the limits of market control55:33 - What could trigger a systemic break?01:07:28 - Political and demographic pressures beneath the system01:10:43 - Hari's portfolio implications: stay long, hedge smartly and own inflation sensitivityCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
In this episode we'll talk about:Why the season you're most desperate to get through is the one producing your most important workHow lived experience in the hard chapters creates content and conviction that nothing else canWhy rushing through pain robs you of the very thing that makes your message powerfulThe difference between creating from research and creating from revelationWhy your audience doesn't need your polished season — they need what you learned in the messy oneHow to recognize that the chapter you want to skip is actually the chapter that qualifies youAnd more… CONNECT WITH ME…→ Instagram — @mattgottesman→ My Substack — mattgottesman.substack.com → Apparel — thenicheisyou.comRESOURCES…→ Recommended Book List — CLICK HERE→ Masterclass — CLICK HEREWORKSHOPS + MASTERCLASS:→ Need MORE clarity? - Here's the FREE… 6 Days to Clarity Workshop - clarity for your time, energy, money, creativity, work & play→ Write, Design, Build: Content Creator Studio & OS - Growing the niche of you, your audience, reach, voice, passion & incomeOTHER RELATED EPISODES:Faith Isn't Knowing the Whole Path… It's Taking the Next Honest StepApple: https://apple.co/3MB62IuSpotify: https://bit.ly/4rZw3RN
This week, we are joined by Yoav Git and Rob Croce from Fidelity Investments for a deep dive into trend following, portfolio construction and execution in modern markets. The conversation explores why crisis alpha may come more from beta timing than market selection, the logic behind betting against beta, and how quantitative investors think about diversification, carry and relative value strategies. Along the way, the trio discuss Japan's rising bond yields, momentum investing, execution risk during crises and even how ChatGPT helped solve a 60-year-old mathematical problem. This is a technical but highly practical discussion about how systematic investors build robust portfolios in a changing macro environment.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to 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 LinkedIn and read his paper.Follow Yoav on Linkedin.Episode TimeStamps:01:57 - Rob Croce's path from economics to managed futures and trend following04:38 - Yoav on AI-assisted mathematics and solving a 60-year-old problem06:14 - Rob on out-of-sample testing and learning from market structure11:42 - Rising Japanese bond yields and the global bond market backdrop12:39 - Momentum investing and the growing popularity of trend-based strategies17:04 - Current trend following environment across equities, bonds and commodities19:13 - “Betting Against Beta” and why low-beta portfolios may outperform25:43 - The role of leverage aversion and diversification in factor investing34:26 - Rob Croce's paper: where crisis alpha really comes from40:31 - Why beta timing drives much of trend following's defensive behavior47:46 - Can carry improve trend following without sacrificing crisis alpha?51:51 - Execution algorithms, risk reduction and trading during crises57:46 - Why correlation spikes matter for portfolio execution and liquidity01:04:05 - Final thoughts and where to find Rob Croce's researchCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Today, we are joined by David Beckworth, Senior Research Fellow at the Mercatus Center and host of Macro Musings, for a deep dive into the biggest macro questions shaping markets right now. David explains why central banks struggle to respond to supply shocks, why inflation expectations are more fragile than policymakers admit, and how frameworks like nominal GDP targeting could offer a more robust path forward. We explore the collision between geopolitical shocks and AI-driven productivity, the hidden consequences of quantitative easing, and the growing tension between monetary policy and fiscal sustainability. From stablecoins and the future of the dollar to the Fed's balance sheet and financial system plumbing, this episode unpacks the forces quietly reshaping the global economy, and why policymakers may be less in control than we think.-----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 David on X.Episode TimeStamps: 00:00 - Stablecoins, financial stability, and uncertain impact01:00 - David Beckworth's path into macroeconomics05:43 - How central banks should respond to supply shocks08:56 - Why policymakers struggle to separate supply vs demand11:58 - Inflation expectations and post-COVID sensitivity14:46 - Are central banks over-reliant on flawed inflation models?18:49 - AI as a positive supply shock: hype vs reality22:00 - Productivity booms, deflation, and policy challenges25:11 - Kevin Warsh, AI optimism, and the Fed's future direction29:33 - QE, QT, and the long-term impact on financial markets33:28 - The “ratchet effect” and why the Fed can't shrink easily37:59 - Liquidity: abundant or an illusion?41:38 - Are markets addicted to central bank liquidity?44:21 - Fiscal dominance and the long-term risk to central banks53:54 - Stablecoins, dollar dominance, and global demand59:10 - Private credit and the evolving financial system01:00:49 - Books, learning, and building a career in macroCopyright © 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
Brad opens with, “I watched a movie…” and this one immediately puts everyone in a situation that makes zero sense — if you fall asleep, you die… and if you don't sleep, you lose your mind. In this episode of Movie Torture, Brad breaks down Freddy vs. Jason, a matchup that sounds legendary until you actually think about what it means for everyone involved. Because now you've got:One killer who gets you in your dreamsOne killer who gets you in real lifeAnd absolutely no good option for survivalBrad leans into the chaos right away — calling it less of a horror movie and more of a no-win scenario where the rules themselves are the problem. The moment you understand the setup, you realize nobody is coming out of this okay.He walks through the wild premise:Freddy needs fear to exist againSo his solution is… bring Jason back to do the dirty workWhich sounds like a plan until you remember Jason doesn't follow plansBrad goes in on that decision, breaking it down in his signature style — pointing out that hiring someone like Jason isn't strategy, it's chaos. Once he shows up, there's no control, no boundaries, and no off switch.As the episode builds, Brad highlights:The group of teens trying to outthink something you can't outthinkThe idea that “just don't sleep” somehow becomes a real planAnd how quickly everything spirals once both threats are activeOf course, the tangents hit:Why staying awake is not a real strategy for survivalWhat sleep deprivation actually does to youAnd how this might be one of the worst situations anyone could be dropped intoThe tension keeps rising as Brad unpacks the core problem:What do you do when every option leads to the same outcome?By the time it all collides, you're not just watching a showdown — you're watching a situation that was doomed from the start. Two unstoppable forces, zero control, and people stuck in the middle trying to figure out rules that don't exist.Tune in for the full breakdown, the tangents, and Brad reacting to a movie that fully commits to putting everyone in the worst possible position.
Today, Niels and Alan examine a market shaped by two forces pulling in opposite directions: AI's promise of higher productivity and the inflationary pressure of geopolitical stress. From distorted economic data and shifting rate expectations to energy shocks, fiscal pressure, and the changing role of trend following, this conversation explores why traditional portfolios may need more flexibility than they once did. Alan also shares a world exclusive on the launch of his Regime Adaptive Fund, built around the idea that portfolios should not simply sit through changing regimes, but adjust as markets, inflation, and correlations evolve. A timely discussion on risk, resilience, and the limits of old playbooks.-----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 Top Traders Unplugged00:36 - Niels welcomes Alan Dunne back to the Systematic Investor Series01:31 - How AI is distorting economic data, earnings, and construction trends06:13 - UK council elections, Reform UK, and pressure on political assumptions09:00 - Trend following update and the shift in fixed income exposure13:35 - Why recent macro shocks have created a favorable backdrop for trend followers16:45 - AI, Iran, and the collision between positive and negative supply shocks26:22 - Graham Capital's research on macro performance across monetary regimes37:09 - AQR's view on multi-asset portfolios, trend following, and inflation risk46:07 - Why diversification still comes with discomfort51:26 - Should trend following trade equities when stacked on equities?56:38 - Alan reveals the launch of the Regime Adaptive Fund01:05:42 - Equity market strength, hidden risks, and portfolio construction today01:08:46 - Closing thoughts and upcoming episode previewCopyright © 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 does it take to become a true Market Wizard, and why do so many of them fail before they find their edge? In this special episode, Moritz Seibert sits down with Jack Schwager and George Coyle to discuss The Next Generation of Market Wizards, the sixth book in the series that began in 1989. Together, they explore how extraordinary traders are found, how their records are verified in an age of AI, and why many of the most remarkable returns still come from discretionary traders. From blown-up accounts and shorting small caps to the psychological cost of sitting in front of screens for 14 hours a day, this is a rare look at the craft, pressure, and persistence behind exceptional trading.-----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:00:00 – Why single trading systems rarely produce “wizard-level” returns01:17 – Introduction to the new Market Wizards book02:37 – George Coyle's background and path to co-authoring05:00 – What makes this new book different (focus on solo traders)06:00 – How top traders are discovered10:46 – Verifying extreme performance claims in the AI era13:26 – The most surprising trait: repeated early failure15:54 – New-generation strategies that break “classic” rules19:02 – Timeless trading principles that still hold21:16 – Why most market wizards are discretionary, not systematic24:41 – Why individual quant systems rarely achieve extreme returns26:53 – Listener question: systematic vs discretionary trading30:17 – Personality traits of elite traders32:21 – The hidden “cost” of being a top trader35:50 – Can anyone become a market wizard?38:47 – What's changed in trading edges over time41:53 – Preview of the next book (hedge fund traders)Copyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
In this episode we'll talk about:Why your hardest seasons gave you more than just strength — they gave you sightHow pain sharpens your ability to discern people environments and decisionsWhy comfort rarely teaches you anything about who truly belongs in your lifeHow suffering reveals what's real and removes what was always pretendingWhy the discernment you carry now is the direct result of the season you survivedHow to trust the instincts that pain built in youAnd more… CONNECT WITH ME…→ Instagram — @mattgottesman→ My Substack — mattgottesman.substack.com → Apparel — thenicheisyou.comRESOURCES…→ Recommended Book List — CLICK HERE→ Masterclass — CLICK HEREWORKSHOPS + MASTERCLASS:→ Need MORE clarity? - Here's the FREE… 6 Days to Clarity Workshop - clarity for your time, energy, money, creativity, work & play→ Write, Design, Build: Content Creator Studio & OS - Growing the niche of you, your audience, reach, voice, passion & incomeOTHER RELATED EPISODES:Faith Isn't Knowing the Whole Path… It's Taking the Next Honest StepApple: https://apple.co/3MB62IuSpotify: https://bit.ly/4rZw3RN
Today, we are joined by Philip Diehl, former Director of the United States Mint and President of U.S. Money Reserve, for a timely conversation about gold's renewed role in a world shaped by inflation, geopolitical stress, central bank demand, and uncertainty around fiat currencies. Philip explains why gold's recent rise is not simply a speculative move, but part of a broader shift in how governments, institutions, and individuals think about wealth preservation. From central bank buying and Chinese retail demand to Bitcoin, ETFs, physical coins, and the limits of the U.S. dollar system, this episode explores why gold is once again moving from the margins of portfolios toward the center of the macro conversation.-----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 Philip on LinkedIn.Episode TimeStamps: 00:00 - Why Philip Diehl believes investors should “buy the dip” in gold01:14 - Philip's career from public policy to the U.S. Mint06:08 - What U.S. Money Reserve does and why physical gold matters08:08 - The forces behind gold's powerful multi-year rally13:08 - Central bank buying, dollar risk, and portfolio diversification19:05 - Why some central banks may sell gold during stress22:18 - Chinese demand, cultural memory, and the role of retail buyers28:32 - Why Philip does not see Bitcoin as “digital gold”32:44 - Physical gold versus ETFs and the question of ownership37:10 - How retail investors behave during gold bull markets41:16 - Portfolio allocation and the changing case for gold45:52 - Why Philip expects gold to outperform equities over the next decade48:15 - Why today's gold market is not a repeat of the 1970s52:21 - Gold miners, production limits, and rising extraction costs55:58 - Fort Knox, revaluing U.S. gold reserves, and political reality59:24 - Lessons from Philip's career and how to learn more about goldCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Today, we explore what it means to invest in a world defined by volatility, uncertainty, complexity, and ambiguity (VUCA). We discuss why geopolitical shocks... especially supply-driven ones... are creating persistent trends across markets, and why trend-following strategies are thriving despite strong equity performance. The conversation dives into how investors process information (or fail to), the limits of central bank responses to supply shocks, and why markets may not be fully pricing in current risks. Mark also shares new research comparing hedge fund strategies under different volatility regimes, highlighting why managed futures stand out as a robust diversifier. The episode closes with a forward-looking discussion on AI, replication strategies, and the growing role of narrative versus data in investment decision-making.-----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: Preparing for the unpredictable00:36 – Entering a VUCA world: volatility, uncertainty, complexity, ambiguity02:00 – “Uncharted territory” in markets and beyond05:30 – Central banks, leadership changes, and policy uncertainty07:16 – Oil markets, OPEC shifts, and geopolitical tension10:16 – Trend-following performance update and market context14:06 – Reverse engineering CTAs and the role of AI18:42 – Replication strategies vs. true alpha22:41 – Trend-following performance metrics (April update)24:43 – Supply shocks and why they're harder to manage28:53 – Are markets underreacting to geopolitical risk?31:53 – Information overload, ambiguity, and trend persistence34:54 – Why more data doesn't mean better decisions38:34 – Government intervention vs. market-driven trends40:30 – Pandemic policies and unintended inflation43:00 – New research: hedge fund strategies vs. volatility regimes47:16 – Why managed futures stand out as diversifiers51:11 – Narrative vs. data in investment decisions55:36 – AI, sentiment analysis, and the future of models58:46 – Simplicity vs. complexity in strategy design01:00:49 – Bundling vs. unbundling investment strategies01:03:18 – Momentum crashes and new research directionsCopyright © 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 Kevin Coldiron is joined by bestselling author Joe Studwell who speaks about his new book How Africa Works: Success and Failure on the World's Last Development Frontier. We discuss why many of our perceptions about Africa are wrong - why one big problem has been too few people, not too many and why the continent isn't as resource-rich as we think. Joe talks us through some surprising success stories - like Rwanda's emulation of Singapore and Botswana's success in avoiding “the resource curse”. This is the time to begin researching and understanding the opportunities in a continent that has more land mass than the US, China and India combined and will eventually be home to the majority of the world's young people.-----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 Joe on LinkedIn and read his book.Episode TimeStamps: 00:01 - Introduction to the episode and guest02:04 - Why the book was written and initial motivation05:50 - Outsider perspective and reactions in Africa07:22 - The core idea: population density and development08:22 - Why Africa's growth lagged historically14:23 - Population growth and changing economic potential15:39 - Colonialism in Africa vs Asia20:14 - Land, agriculture, and development differences23:55 - Rise of private sector and food production25:57 - Resources and the limits of extractive growth29:56 - Botswana and managing resource wealth36:21 - Rwanda's development model and governance44:41 - Ethnic dynamics and future stability50:24 - China's role and manufacturing potential56:04 - Investing in Africa and long term outlookCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Today Cem Karsan and Niels Kaastrup-Larsen examine a market environment where politics, geopolitics and liquidity are becoming harder to separate. Cem argues that recent market strength is not just a reaction to better news, but part of a broader effort to manage risk, support collateral values and prepare for deeper geopolitical stress. From rising military spending and the Strait of Hormuz to treasury demand, QIS growth, AI and the next inflation wave, this conversation is about what happens when markets stop being passive observers and become tools in a larger strategic contest.-----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: 00:00:01 - Introduction to Top Traders Unplugged00:00:35 - Niels and Cem reconnect and set the stage00:01:51 - Truth, narratives and the blurring of reality00:04:15 - Fed independence, politics and credibility00:07:45 - The rise of QIS and demand for alternative strategies00:12:52 - Trend following update and current market performance00:15:23 - Framing the disconnect between markets and reality00:20:09 - Liquidity, market rallies and strategic positioning00:25:08 - Are markets being actively managed00:34:51 - The real geopolitical battle and the role of China00:40:32 - What investors may be underpricing00:52:55 - Why markets can rise despite growing risks00:55:56 - Treasury demand, intervention and future policy paths00:58:04 - Inflation, debt monetization and long term outlook01:02:16 - AI, deflation and the political responseCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Today, Cem Karsan sits down with Lyn Alden for a wide-ranging conversation on the forces quietly shaping markets beneath the surface. From the persistence of fiscal dominance to the role of populism, demographics, and global power shifts, they explore why the current macro regime may be far harder to reverse than many expect. The discussion moves beyond economics into politics, examining how inequality, globalization, and technological change feed into inflation dynamics and policy decisions. They also tackle the future of the dollar, the risks to its global dominance, and the complex role of crypto in a system defined by power, incentives, and control.-----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: 00:00:00 - Introduction to the episode and trading floor setting00:01:28 - Cem introduces Lyn Alden and frames the macro discussion00:02:23 - Lyn outlines her framework and the rise of fiscal dominance00:05:31 - Multipolar world and shifting reserve currency dynamics00:06:20 - Why debt cycles lead to persistent fiscal expansion00:13:42 - Debate on debt, modern monetary theory, and dollar privilege00:18:29 - Populism, inequality, and political drivers of inflation00:24:25 - Trade deficits, globalization, and domestic consequences00:30:20 - What happens if dollar dominance weakens00:34:16 - Comparing today to the 1940s vs the 1970s00:41:47 - Democracy, authoritarian drift, and rule of law00:44:17 - AI, productivity, and inflationary policy responses00:56:08 - Lyn's views on Bitcoin, stablecoins, and crypto markets01:03:34 - Debate on the long term sustainability of crypto01:09:42 - Closing thoughts on power, money, and the macro outlookCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
Today, Rob Carver joins us to reflect on a market environment that appears calm on the surface but feels increasingly fragile underneath. From oil market distortions and muted reactions to geopolitical risk to the steady resilience of equities, the conversation questions whether price action is telling the full story. Rob shares insights from his own performance, including why slower trend signals have recently dominated and why he is running lower risk despite positive returns. The discussion moves into portfolio construction, return stacking, and the growing role of ETFs, alongside a candid look at where complexity adds value in systematic investing and where it does not.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to 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 & current market backdrop04:30 - Oil market dislocations and futures vs physical pricing10:00 - Equities hitting highs despite geopolitical tension13:30 - ETFs, fees, and structural shifts in investment vehicles17:00 - Trend following performance update and April results20:30 - Rob's year-to-date and 12-month performance breakdown25:00 - Why slow trend signals outperformed27:30 - How to evaluate large CTA managers31:00 - Where PhDs add value in systematic investing43:00 - Signal weighting, crisis alpha, and portfolio construction52:00 - Return stacking and diversifying equities01:06:30 - Managed futures ETFs vs replication strategies01:18:00 - Final thoughts and wrap-upCopyright © 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 are not stable systems. They evolve, adapt, and quietly erode the edges traders rely on. In this episode, Toby Crabel reflects on decades of experience navigating that reality, from the early days of Opening Range Breakout strategies to today's fragmented and highly competitive landscape. He explains why momentum behaves differently now, how liquidity has shifted across sessions, and why execution has become a defining edge. The conversation also explores the limits of AI, the persistence of technical principles, and the importance of adapting without overfitting. At its core, this is a discussion about humility, uncertainty, and staying relevant as markets change.-----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 Niels on Twitter, LinkedIn and YouTube.Find out more about DUNN CapitalFollow Crabel Capital Management on LinkedIn.Episode Timestamps:00:00 - Markets are probabilistic and inherently uncertain01:40 - Introduction to Toby Crabel and his career03:01 - From tennis to trading and early market exposure06:10 - Opening range breakout and early momentum edge08:04 - Why momentum strategies have deteriorated over time14:21 - The disappearance of the “open” in modern markets17:53 - Are markets changing or just the participants20:34 - Liquidity events and large player behavior24:14 - The role and limits of technical analysis32:44 - Model decay and adapting systematic strategies39:17 - Execution as a primary source of edge40:40 - AI, automation, and the future of trading51:18 - Effort vs result and the meaning of volume56:56 - Are we entering a 1970s style macro regime?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
Markets are currently being shaped by geopolitical uncertainty, rapid technological change, and shifting investor behavior. In this episode, Andrew and Niels explore how these forces are influencing trend following and systematic investing. They discuss recent market volatility, the impact of global conflict on asset prices, and why traditional diversification assumptions are being tested. A key focus is the evolving structure of the CTA industry, including the rise of ETFs and the debate between complexity and simplicity in generating alpha. The conversation also examines replication strategies, implementation costs, and whether simpler approaches may deliver more efficient and consistent outcomes over time.-----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: 01:27 - Geopolitical uncertainty and parallels to past crises03:13 - Why this crisis feels different from previous ones04:24 - Ideology, negotiation, and unintended consequences06:16 - AI, technology, and the changing global landscape10:58 - Technology dependence and societal tradeoffs12:37 - Market environment and trend following conditions16:02 - CTA performance and the macro “do over” of 202621:11 - Traditional markets vs systematic strategies22:39 - Hedge fund losses and dispersion across strategies25:48 - CTA alpha, simplicity, and ETF performance32:42 - Complexity vs efficiency in portfolio construction39:40 - Hidden implementation costs in systematic trading52:21 - QIS strategies and the illusion of beta57:43 - Structural challenges in QIS products01:03:12 - Index construction, research, and innovation constraints01:08:47 - Fees, transparency, and real investor costs01:12:41 - Product evolution and the future of systematic investingCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
What if the real edge in markets is not in adding more assets, but in choosing fundamentally different ones? In this episode, Moritz Siebert speaks with Tom Babbedge about why alternative commodity markets offer a distinct source of diversification and trend. They explore how structural supply and demand imbalances create persistent price moves, why many financial markets behave as one during stress, and how capacity constraints shape portfolio construction. The conversation also examines how markets are selected, how execution differs from traditional CTAs, and why understanding who trades a market may matter more than any backtest.-----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 Tom on LinkedIn.Episode TimeStamps:00:00 - Introduction to the episode and guest02:04 - Why focus only on commodity markets03:59 - The myth of diversification through more markets05:01 - Structural differences within commodity markets06:22 - Why financial markets behave as one in crises07:57 - Capacity constraints and portfolio construction11:18 - Adding and removing markets from the portfolio13:28 - How to identify truly alternative markets16:40 - Trend quality vs trend quantity explained19:11 - Structural drivers behind commodity trends20:01 - Case study European carbon and trend persistence26:59 - Execution as an edge in systematic trading32:42 - Reducing trading costs through patience40:09 - Why investors allocate to alternative commodity strategiesCopyright © 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 rarely offer clarity when it matters most. In this episode, together with Katy Kaminski and Harry Moore, we reflect on a first quarter defined by sharp reversals, energy shocks, and rising dispersion across strategies. They explain how trend following adapted as leadership flipped across asset classes, and why results varied more than many expected. The conversation moves beyond performance to examine portfolio construction, from market selection and speed to the growing relevance of portable alpha. Along the way, they revisit periods of drawdown, investor behavior, and the role of liquidity in crisis environments, offering a grounded perspective on how systematic strategies respond when conditions change quickly.-----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.Follow Harry on LinkedIn.Episode TimeStamps:00:00 - Introduction and episode framing01:38 - Market backdrop and Q1 volatility07:29 - Trend following performance through Q109:36 - Diversification vs equities and bonds11:21 - Dispersion across managers explained14:32 - Trend vs non trend strategies18:40 - A month that tested every component of trend21:17 - Optimal market mix and research insights30:00 - Macro factors and what trend captures35:57 - Portable alpha and cash efficiency42:23 - Risks in portable alpha construction49:04 - Drawdowns and investor behavior53:37 - Why trend recovers after shocks01:00:51 - Measuring alpha in macro strategies01:06:51 - Geopolitics and future opportunitiesCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer
"If you can get one paid gig, you can build an empire off that."Welcome back to The Speaker Lab Podcast! In this episode, Dan Irvin (the newly minted TSL CEO and new host of the TSL podcast!) sits down with Erick Rheam — The Speaker Lab's own resident speaker and lead coach — to unpack one of the most remarkable client stories we've ever told: how Erick turned a single speaking relationship into a three-year, $900,000 contract.But here's the thing — the $900,000 didn't come from being the best speaker in the room. It came from being the most intentional. Erick breaks down a 12-year journey that started with a chance conversation at a vendor booth, a coaching nudge to lean into his niche, and a decision to consistently deliver more value than any client expected. His story is a masterclass in how speakers who think like business owners — not performers — build something that lasts.Whether you just landed your first $1,000 gig or you're wondering how to turn a great client relationship into something bigger, this episode is packed with practical wisdom you can use right now.You'll learn:How Erick stumbled into speaking from the utility industry — and why that "detour" made him millionsWhy leaning into your existing niche (instead of running from it) is one of the fastest paths to credibilityThe counterintuitive reason Erick gave away content rights early on — and how it paid off over a decade laterHow to build talks your audience actually wants by listening first and pitching secondThe role Speaker Lab coaching played as a critical inflection point in Erick's careerHow a simple exit interview after every gig opened the door to consulting, workshops, and eventually that $900K contractWhy $900,000 had much less to do with what Erick did on stage — and everything to do with what he did around itThe four things Erick would tell his younger self: niche, audience problem, system, and coachingHow Erick closed $68,000 in gigs in a single week — prospecting just one hour a dayWhat to focus on when you land your first $1K–$5K gig so you don't miss the opportunity right in front of youAnd much, much more!"I think I'm an average speaker at best, maybe above average. I do alright. However, I'm organized, and I follow a system. And the system is not that hard. It's duplicatable. It's scalable."--Ready to build your own predictable speaking business? Click the link below to claim your free Speaker Business Assessment — a real diagnostic review of your audience, niche, pipeline, and revenue model. No pitch, just clarity.
What happens when confidence fades and power becomes concentrated in fewer hands? Together with Peter Atwater we explore a world dividing along lines of control and vulnerability. From geopolitical conflict and energy dominance to rising inequality and generational pressure, they describe a system under strain. The discussion connects investor behavior, policymaking, and social dynamics through a single lens: confidence. As those at the top grow more assertive and those at the bottom feel increasingly powerless, tensions build in ways that history suggests rarely resolve smoothly. This is an important and timely conversation about imbalance, reaction, and what may come next.-----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 Peter on X.Episode TimeStamps: 01:13 - Introduction and framing the confidence discussion02:53 - The K shaped world and rising vulnerability04:43 - Behavior at the top vs nihilism at the bottom06:48 - Confidence and policymaker decision making09:27 - From hubris to desperation in global systems12:23 - Iran, energy, and geopolitical motives17:05 - Leadership confidence and timing of conflict19:09 - Affordability crisis and consumer pressure22:43 - War priorities vs economic priorities25:53 - Control, drafts, and growing tension29:11 - Authoritarian drift and system constraints33:51 - Speed of crises in a connected world39:22 - Overconfidence and blindness to risk48:15 - Powerlessness as the trigger for changeCopyright © 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
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