711 episodes

Step into the fascinating realm of finance and investing with Niels Kaastrup-Larsen and an amazing line-up of co-hosts as your guide. Each week, we engage in captivating conversations with renowned investors, esteemed economists, skilled traders, and visionary thought leaders. Discover the wisdom derived from their journeys, embracing their triumphs and learning from their setbacks. At TTU, we strive to ignite your independent thinking, encouraging you to chart your own path to financial success. Tune in to stay informed and inspired on the ever-evolving landscape of finance and investing. Stay up-to-date with our latest episodes and blogposts at https://toptradersunplugged.com

Top Traders Unplugged Niels Kaastrup-Larsen

    • Business
    • 4.8 • 505 Ratings

Step into the fascinating realm of finance and investing with Niels Kaastrup-Larsen and an amazing line-up of co-hosts as your guide. Each week, we engage in captivating conversations with renowned investors, esteemed economists, skilled traders, and visionary thought leaders. Discover the wisdom derived from their journeys, embracing their triumphs and learning from their setbacks. At TTU, we strive to ignite your independent thinking, encouraging you to chart your own path to financial success. Tune in to stay informed and inspired on the ever-evolving landscape of finance and investing. Stay up-to-date with our latest episodes and blogposts at https://toptradersunplugged.com

    SI291: Trend Following...What should it mean to Investors? ft. Richard Brennan

    SI291: Trend Following...What should it mean to Investors? ft. Richard Brennan

    In this episode, we are joined by Richard Brennan to discuss why now is the time to step up your trend following allocation. Rich challenges Andrew Beer’s conclusion that a 3% allocation to trend following is the sweet spot and explains why he believes the trend following industry should simplify its narrative and quit the fancy “jargon”. We also discuss what defines a trend follower and why we may be losing the incentive to keep improving as trend followers, new research on the impact of crises and much more.
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    EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool
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    Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
    IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
    And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.
    Learn more about the Trend Barometer here.
    Send your questions to info@toptradersunplugged.com
    And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
    Follow Rich on Twitter.
    Episode TimeStamps:
    02:08 - What has been on our radar recently?
    08:33 - Industry performance update
    16:02 - What is the optimal allocation to trend following?
    24:02 - Do trend followers have fiduciary responsibility?
    27:09 - Why is Andrew Beer having trouble with his trend following allocation?
    31:30 - Are we moving too far away from the classic trend following?
    37:21 - What does it take to call yourself a trend follower?
    42:01 - Discussing Corey Hoffstein's approach
    46:44 - What about the fees?
    50:34 - Are we losing the incentive to improve?
    58:45 - The impact of crises
    01:07:11 - Sign up for our new newsletter
    01:08:26 - What is up for next week?
    Copyright © 2023 – CMC AG – All Rights Reserved
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    PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
    1. eBooks that cover key topics

    • 1 hr 9 min
    TTU146: The value of Unpredictable Alpha ft. Anthony Todd

    TTU146: The value of Unpredictable Alpha ft. Anthony Todd

    Today, we are delighted to be joined by Anthony Todd, Co-Founder & CEO of Aspect Capital, for an insightful discussion on the role of systematic trading and trend following in today’s economy. We also discuss what has driven Aspect Capital’s shift towards developing multiple strategies and how they guide their clients to make better investment decisions, whether the trend following industry should be concerned about replication strategies and how allocations are funded today. Lastly, we discuss how Aspect Capital uses AI in their work and how systematic trading has changed as a whole with the rise of AI, what Todd is most excited and concerned about in 2024 and much more.
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    EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool
    -----

    Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
    IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
    And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.
    Learn more about the Trend Barometer here.
    Send your questions to info@toptradersunplugged.com
    And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
    Follow Alan on Twitter.
    Follow Todd on LinkedIn.
    Find out more about DUNN Capital
    Episode Timestamps:
    02:24 - Introduction to Anthony Todd and Aspect Capital
    05:43 - A global macro perspective
    09:45 - How has the industry evolved?
    13:51 - Are investors under-allocated to trend?
    17:11 - Trend following - a return enhancer?
    20:37 - The correlation between stocks and bonds
    25:27 - The path to offering multible strategies
    29:47 - Balancing choices and guiding clients and investors
    33:26 - Are CTAs threatened by replication strategies?
    39:11 - How...

    • 1 hr 11 min
    SI290: Honey, I Shrunk the Trend Following ft. Andrew Beer

    SI290: Honey, I Shrunk the Trend Following ft. Andrew Beer

    Today, we are joined by Andrew Beer to discuss why the current surge in Cocoa prices really is a big deal for our industry, but how CTAs have been selling it this year, against many main stream media reports. We also dig into how the strong performance in Q1 2024 is helping Trend Following making its way into more Model Portfolios and the existential crisis that we are seeing in the Model Portfolio world. We explain how the narrative around trend following is changing and why replication strategies are becoming less radical. And we wrap up our conversation touching on what the optimal allocation to trend following should be based on the latest publication from Man Institute, the challenges of dealing with unrealistic expectations in the trend following space and much more.
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    EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool
    -----

    Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
    IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
    And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.
    Learn more about the Trend Barometer here.
    Send your questions to info@toptradersunplugged.com
    And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
    Follow Andrew on Twitter.
    Episode TimeStamps:
    01:16 - What has been on our radar recently?
    05:38 - Industry performance update
    06:49 - What is the big deal with Cocoa?
    11:49 - What causes the rising Cocoa prices?
    13:56 - A fantastic start to the year for trend following
    16:58 - Industry performance update continued
    18:12 - Q1, Peter: What percentage of your liquid net worth do you have invested in DBMF?
    22:05 - What does Q1 2024 mean for CTAs?
    30:51 - A period of normalcy
    34:02 - A change in the trend following narrative
    42:54 - Are replication strategies becoming less radical?
    46:22 - Stacking returns - a good or bad idea?
    52:35 - Honey, I...

    • 1 hr 15 min
    ALO22: Finding an Absolute Return Solution for a C$11BN Pension Plan ft. Christophe L'Ahelec

    ALO22: Finding an Absolute Return Solution for a C$11BN Pension Plan ft. Christophe L'Ahelec

    Christophe L’Ahelec, Managing Director of Public Markets at University Pension Plan Ontario, joins Alan Dunne in this episode to discuss their approach to managing the C$11bn defined benefit pension plan. We discuss the high level Strategic Asset Allocation of the plan and also how the changed macro environment in recent years has motivated a shift in the asset allocation towards more absolute return strategies. Such strategies play a dual role of diversification and return enhancement for UPP and we discuss how Christophe thinks about an appropriate strategy allocation within absolute return. We also delve into the challenges of manager selection and evaluation, why it is important to remember that you are buying an “investment process” not historical returns when allocating to managers and discuss when is it appropriate to remove a manager and when not.
    -----
    EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool
    -----

    Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
    IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
    And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.
    Learn more about the Trend Barometer here.
    Send your questions to info@toptradersunplugged.com
    And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
    Follow Alan on Twitter.
    Follow Christophe on LinkedIn.
    Episode TimeStamps:
    02:50 - Introduction to Christophe L'Ahelec
    07:06 - A new initiative
    10:01 - What kind of strategy drives their asset allocation?
    12:40 - What goes into which bucket?
    14:45 - What makes absolute return exposure more attractive at the moment?
    16:31 - Constructing an absolute return portfolio
    18:38 - How they approach trend following
    21:58 - Why do they use leverage?
    23:32 - What do they expect from their...

    • 56 min
    SI289: Kahneman, Trend Following & Cocoa ft. Mark Rzepczynski

    SI289: Kahneman, Trend Following & Cocoa ft. Mark Rzepczynski

    Mark Rzepczynski joins us to remember one of the most important people within modern-day finance, author and psychologist, Daniel Kahneman, and the impact he had on our industry. We also discuss how increasing interest rates change the way investors behave and why trend following and CTAs have performed so well the past 5 years, perhaps without been given the credit the strategy deserves. We also dive into the cocoa market to discuss why it may still have a long way to go, despite racking up another 60% rise in March 2024 alone. We then move on to explain why the financial conditions index is important to understand for trend followers and why Mark believes stocks may continue to rise. Lastly, we discuss what makes trend following unique, why having trend following in your portfolio can help you achieve better performance and more diversification and much more.
    -----
    EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool
    -----

    Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
    IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
    And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.
    Learn more about the Trend Barometer here.
    Send your questions to info@toptradersunplugged.com
    And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
    Follow Mark on Twitter.
    Episode TimeStamps:
    01:03 - Remembering Daniel Kahneman
    03:54 - Things are changing
    09:54 - Industry performance update
    13:32 - What the Credit Suisse Managed Futures Index is missing
    16:23 - Let's talk about Cocoa
    21:55 - Trends can last longer than people expect
    24:44 - Is the Cocoa market a bubble?
    28:31 - Less markets = better performance?
    30:43 - Static vs. Dynamic position sizing in the Cocoa market
    39:13 - Understanding the financial conditions index
    45:09 - A euphoric environment
    49:47 - What makes trend following...

    • 1 hr 6 min
    OI07: The Evolution of Short-Term Trading ft. Tony Kaiser

    OI07: The Evolution of Short-Term Trading ft. Tony Kaiser

    In this episode, Moritz Seibert is joined by Tony Kaiser, the CEO and founder of Kaiser Trading, a short-term systematic fund based in Melbourne, Australia. 
    Tony speaks about his start in the late 1990s, leaving a bank prop trading role to set up his own shop, and then comments on how the short-term trading space has changed and evolved over the years. Today, the models they use are shorter-term than the ones they used to trade decades ago, and the entire business is much more tech dependent. Tony mentions that short-term trading is difficult and that the space has a higher barrier to entry, which is why there are relatively few short-term managers for investors to choose from, but that one really attractive feature is the low correlation of their returns not only to traditional asset classes, but also to their own sector, i.e., other short-term managers.
    -----
    EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool
    -----

    Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
    IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
    And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.
    Learn more about the Trend Barometer here.
    Send your questions to info@toptradersunplugged.com
    And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
    Follow Moritz on Twitter.
    Follow Tony on LinkedIn
    Episode TimeStamps:
    02:16 - Introduction to Tony Kaiser
    04:07 - An interesting journey
    16:50 - A difficult space for alpha
    20:55 - Why did Kaiser move into the short term space?
    28:17 - How has trading frequency and systems evolved?
    33:15 - Do Kaiser's original models still work today?
    45:28 - A shock to the system
    49:43 - Where does the low correlation come from?
    57:00 - Thanks for listening
    Copyright © 2023

    • 58 min

Customer Reviews

4.8 out of 5
505 Ratings

505 Ratings

Ceejay424 ,

Listen up and find your edge

From theory to practice TTU leaves no stone unturned. Niels and guests educate listeners with expertise and thoughtful analysis. A remarkable podcast.

stoicFlow ,

Top Traders unplugged is excellent.

Easily one of the most thoughtful and thought provoking finance podcasts I have encountered.

Rdlc87 ,

Neil is great, but Cem is Gold

Shout out to you guys for sharing your knowledge and intellect with us.

Thanks!

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