Top Traders Unplugged With Niels Kaastrup-larsen | Engaging Conversations With The Top Traders & Investors

Today we are joined by Rory Johnston, founder of Commodity Context, a physical commodities research firm based in Toronto, Canada. We talk about Rory’s in-depth research focused on the oil sector, as well as the current narratives impacting the price of oil right now. We discuss his deep dives into the workings of the oil industry, focused on adding a broader perspective to price assumptions and market fluctuations. From Russia’s invasion of Ukraine to China’s Covid lockdown, Rory shares his reflections on diverse market responses to geopolitical events around the world. Is there going to be a big energy demand from China going forward? What is it going to take to stabilize oil prices? How does inflation factor in? Join us on this fascinating exploration of the role oil plays, and the variables that can change the trajectory of the energy market.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter,

Today, we are joined by Svante Bergström, Founding Partner and CEO of Lynx Asset Management, for a conversation on how they incorporate trend following in their trading strategy, through the use of a multi-strat approach. We discuss why they believe trend following will continue to work for the next hundred years and how they ensure a good balance between achieving a high Sharpe while maintaining the trend following profile, what they have learned from 2022 and how they used diversifying models and machine learning to profit in 2022, their process of finding new models and replacing the ones that do not work and why they are sceptical about the returns from CTA replication. We also discuss the number of markets they prefer to trade, how they manage risk and what you should pay attention to when evaluating managers, their approach to capacity and fees and their process of finding new talent in the industry, how they implement ESGs in their work and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Buil

Today, Andrew Beer returns to the podcast for a conversation on Trend Following & Managed Futures more broadly, where we reflect on what happened in the first month of 2023 and the outlook for rest of the year. We also discuss why many investors started to panic in the last half of 2022 and why Managed Futures is such a powerful "companion" strategy, the recent change of sentiment to stocks and bonds and why we should sometimes just trust the evidence. We round things off with a deep dive into various ways to achieve optimal diversification and the value of trend following, why it is important to be tactical and put aside the idea of buying the dip, how narrative plays such a big role in the trend following space and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of t

Today, we are joined by Marty Bergin, President of DUNN Capital Management, for a conversation on how and why they have continued to focus on Trend Following as their core investment strategy. We discuss the challenges of improving upon trend following and if it's possible to deliver it with a high Sharpe Ratio, what differentiates DUNN Capital from other trend followers and how they use research to stay well prepared. We also dig into their approach to trading futures and determining trends and where they see the weaknesses of trend following strategies, why they choose to look at the overall portfolio when managing the risk and why they think portfolio replication can be problematic. We also discuss how they manage risk and why they prefer to reside in the medium to long term when it comes to trend following, how they approach capacity and fees and why they choose to trade using a human touch rather than automated execution, what returns are achievable from trend following and much more.----------EXCEPTIONA

Today, Perry Mehrling, Economist and internationally recognized expert on our monetary system, joins us to talk about his new book: “Money and Empire: Charles P. Kindleberger and the Dollar System”. Perry’s book is a “biography of the dollar” told through the life “Charlie” Kindleberger, an economist who helped craft the Marshall Plan and spent his life studying and writing about the best way to organize international money. We discuss why Charlie thought the world needs a “key currency” and how the Fed - reluctantly and slowly - grew to support the dollar as it took on that role. Perry explains why the dollar system has proved so resilient. We finish the talk with an examination of two of the Fed’s most important tools - QE and swap lines and discuss why one supports the system while the other might undermine it. ----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via t

Today, we are joined by Ryan O’ Grady, CEO and Co-Founder of ROW Asset Management, for a conversation on their all-weather, multi-strat approach to investing. We discuss the philosophy behind their trading strategy and why they choose to think holistically, why limiting yourself to trend following is a disadvantage and how they balance between simplicity and complexity in their research process, what they believe is the right number of markets to trade and how they diversify their portfolio. We also discuss what the pros and cons of replication are and how their work sets them apart from other trend followers, how they manage risk and mitigate drawdowns, how they succeed to run a multi asset portfolio and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guid

Alan Dunne joins us for the weekly conversation on Trend Following, where we reflect on the current macro environment and how it impact markets. We discuss how the apparent positivity in the markets might get derailed by the lack of cooperation from policy makers and how a lurking uncertainty is threatening the calmness of the markets, the performance of the CTA industry, which markets are the best to trade and how the speed of your trend system affects the outcome, how CTAs capitalize on people’s behavioural biases and what the conversations in the new TTU mini series have taught us so far. We also discuss the advantages of being a multi manager and whether managers should give the investors multiple choices or do the choosing themselves and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – g

Today, we are joined by Kevin Cole, CEO and CIO at Campbell & Co, for a conversation on their approach to using trend following in their trading, with a focus on absolute return. We discuss their investment philosophy and the evolution of their expanded trading strategy, how they moved beyond pure trend using equities and how they use a multi-strat approach to stay diversified. We also discuss how they feel about being replicated and how they use their research process to keep an edge over their competitors, how they capture the underlying momentum factors of trend and how they implement ESG in their trading strategy. Lastly, we discuss how they approach risk management and position sizing, their view on capacity and fees in the industry and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year

Today, Kevin Coldiron is joined by the legendary David Rubenstein, Co-Founder and Co-Chairman of the Carlyle Group, philanthropist, historian and more, for a conversation on what we can learn from his journey to become a billion dollar investor, based on his book, “How To Invest”. We discuss what Rubenstein learned from his work as a lawyer and what young, aspiring investors can learn from his book, why it is important to work with something you love to do and why investors are an important part of society. We also discuss how great results require great risk and how becoming a successful investor requires a balance between luck, skill and risk, how to evaluate successful firms like Carlyle Group and the role philanthropists play in society, the economic inequality in America and why taxing the wealth is not a way to solve it, why Rubenstein believes ESGs are here to stay and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio

Today, we are joined by President and CEO of Crabel Capital Management, Michael Pomada, for a talk on their approach to trend following as well as short-term strategies. We discuss the trading philosophy behind Crabel Capital Management and why they choose to primarily be long vol, what role the Sharpe Ratio plays in their trading strategy and how they use data in their research process to understand markets, how being de-siloed helped them to make 2022 their best year in terms of research and how they create the most optimal work environment and culture for their team. How they utilize machine learning in their work and why they spend tens of millions of dollars on execution infra-structure, why they believe replication is like drugs and medication and why ESGs are important for them as a firm, how they manage drawdown control and mitigate risk. Lastly, we discuss why Pomada has found peace with fees going down and why being innovative is key in maintaining a solid income, why they are not concern

Richard Brennan joins us for a weekly conversation on Trend Following, where we reflect on the new TopTradersUnplugged mini series and how the beginning of 2023 has been so far. We also take questions from listeners regarding backtesting methods and how Richard uses backtesting to manage risk, rather than predict expected returns. Additionally, we discuss why trend followers should be more aware of uncertainty and outliers, why Richard is a tail hunter and why he compares it to surfing, how Richard deals with change and the importance of understanding the natural cycle of transitions and stable regimes, complex adaptive systems, why everything ultimately moves towards an equilibrium condition where everything stops and how it can be corrected through math, the importance of understanding how a system operates before applying math and that everything is process driven, how Richard thinks of risk in an uncertain world and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better

Today, we are joined by Harold de Boer, Head of R&D and Managing Director at Transtrend, for a conversation on their unique approach to trend following. We discuss the investment philosophy at Transtrend and what makes them stand out against other investors, why markets trend and what history can teach us about trend following, how the war in Ukraine impacts markets and how Transtrend stays diversified. We also discuss why Transtrend has not deviated from trend and the importance of differentiating yourself, why de Boer believes computers have been become a disadvantage and why de Boer does not think trading more markets is always better. Lastly, we discuss Transtrend’s approach to pricing their work and why they think ESG’s have become a “strange thing”, what de Boer is most excited for in 2023 and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU

In this episode, Cem and Niels are joined by Jeff Currie, Head of Commodities Research at Goldman Sachs, for a conversation on the shifts in global natural resources that we are witnessing right now. We discuss how the focus on de-carbonization has impacted the economy and why the low income group is actually the key driver of inflation, why Currie believes markets are set up for a recession in 2023 and how the war in Ukraine causes disruptions in energy infrastructure. We also discuss why OPEC has risen to power again and what drives the oil prices, why we might run out of metals in the near future, why boycotting Russian oil is a climate paradox and what might be the solution to the energy crisis, how the underinvestment in carbon creates a ripple effect in multiple other sectors, why Currie believes renewable energy might not be the right solution to the energy crisis, how to profit from the commodity super cycle and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Perfo

In this first episode of the new mini series with the largest and most successful trend followers in the world, we are joined by Russell Korgaonkar, CIO at Man AHL, for a conversation on how Man AHL uses trend following in their trading strategy. We discuss the philosophy behind their work and why they believe trend following is a great strategy, as well as what makes Man AHL stand out to investors and how they make trend following more digestible while maintaining "crisis alpha". We also discuss Korgaonkar’s view on CTA replication and their process of improving their trend following system and models, why having a good execution system is important for enabling different sources of alpha and why they use dynamic position sizing to maximize their returns, how they overcome periods of drawdowns and how you price your work as a CTA, how much you should allocate to trend and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Bu

Today, Rob Carver returns to the show for the first weekly trend following conversation in 2023, where we discuss the unusual situation with the vol market and how to use stops and moving average crossovers when entering and exiting trades, what it takes to run a trend following portfolio in 2023 and why it is not for everyone, how Kurtosis and skew is used in managed futures, Rob's process of picking parameters and why using a mixture parameter speed is the most optimal approach. We also discuss the U.S. debt ceiling and why it can become a potential problem, speed in trend following and why you shouldn’t put all your eggs in one basket, how much math you need to work in the financial markets and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the

Today, Susan Shirk, Professor and expert in the US/China relationship and Chinese politics, joins us for a conversation on China’s rise to power, based on her new book, “Overreach: How China Derailed Its Peaceful Rise”. We discuss Susan’s research process and what laid the foundation for the book, the evolution of the control regime in China and how China has been taking things too far, how corruption affects Chinese politics and how Xi Jinping’s attempt to purge the corruption has led to an over compliance and bandwagoning. We also discuss how China’s strict Covid19 policies has led to nationwide protests and major frustration in the population, how China derailed from its peaceful rise, how they may be able to get back on track and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your F

Today, Niels and Alan introduces the new, upcoming mini series that will focus on trend following and managed futures on a broad scale and provide access to the brightest minds within our industry. We set the stage by discussing what kind of year 2022 turned out to be for CTAs and how the idea for the mini series emerged, what we expect and hope to achieve from our conversations with these top-tier managers and some of the exciting topics that we will bring up in the new mini series. We will also take a look into 2023 and discuss our expectations for the year and what we are most excited for in the mini series.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Ma

Today, we are joined by Dylan Grice, Co-Founder at Calderwood Capital, for a conversation on how he thinks about portfolio construction through focusing on alternative and niche investments. We discuss how Dylan and his team work and why they shy away from trying to predict the future, how they analyse the current economic situation and why he thinks what happens to inflation and interest rates the next few years is insignificant. We also discuss how they manage the risk of the strategies they are working with and how they build a solid return profile, approach manager selection, how you can avoid being seduced by managers through narratives and much more.----------EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you

Today, the TopTradersUnplugged team get together for the second part of the year-end group conversation on trend following, leading up to the beginning of 2023. We discuss whether trading more markets is actually better for diversifying your portfolio and how to approach outliers, how fluctuations in interest rates affects volatility strategies and trend followers, both currently and historically. We also discuss whether artificial intelligence can be a viable tool for trading and whether liquidity is about to break, the outlook for 2023 and what the year might hold for trend followers and the economy, why you should expect the unexpected and much more.----------Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of m

Today, the TopTradersUnplugged team get together for a group conversation on trend following and Volatility, leading up to the end of 2022. We discuss the possibility that the carry regime has ended and why 2022 was such a great year for trend following, why “the grind” has been so influential this year and why volatility strategies has been performing different than expected, and how CTAs performance compares to bonds. We also discuss how the volatility market is changing in the coming years and why you need to be active with your hedges, what the TTU team has learned from 2022 and why you have to be open to imagine the unimaginable, what the future might hold for the Crypto space and much more.----------Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever writte