Top Traders Unplugged

Top Traders Unplugged

www.toptradersunplugged.com
Featuring thought leaders and top investors in the world of systematic investing.


73 The Systematic Investor Series – February 3rd, 2020
Feb 2 • 97 min
On today’s show, we discuss why having lots of experience may sometimes work against you, why hard and fast rules can be better than making discretionary decisions, the importance of trading in appropriate position sizes, the amount of drawdown that will…
72 The Systematic Investor Series – January 26th, 2020
Jan 25 • 78 min
Today, we discuss how CTAs provide Investors with protection during stock market declines, how the term Crisis Alpha may be linked to reduced allocations to CTAs, the psychology behind managers chasing performance, worthwhile allocation percentages to…
71 The Systematic Investor Series – January 20th, 2020
Jan 20 • 90 min
This week, we discuss the reliability of Fundamental Analysis sell rules versus Trend Following sell rules, the so-called ‘Quant winter’ that systematic funds are supposedly in, whether there is a clear definition of Value Investing, the ability of CTAs…
70 The Systematic Investor Series ft Andreas Clenow (Part Two) – January 14th, 2020
Jan 14 • 29 min
Today we continue our interview with Andreas Clenow, where we cover topics such as backtesting & system design, whether we see any growth in the CTA industry, long-term vs short-term Investing, and how to go about raising initial AUM. Questions include:…
70 The Systematic Investor Series ft Andreas Clenow (Part One) – January 13th, 2020
Jan 13 • 78 min
In the first of a 2-part special with Andreas Clenow, we discuss why combining Models might improve your Risk-Adjusted Returns in the long run, whether all Trend Following signals are more or less the same, reliable ways to measure risk, and some thoughts…
69 The Systematic Investor Series – January 5th, 2020
Jan 4 • 76 min
In this first episode of 2020, we discuss whether there any investment strategies that can work during all times, the recent Barron’s article featuring Richard Thaler on the perils of overconfidence, how Trend Following helps to prevent being too…
68 The Systematic Investor Series – December 29th, 2019
Dec 28, 2019 • 83 min
In this week’s episode, we discuss the notion of correlation between volatility and risk, why it can be a bad idea to equate a manager’s performance with their skill-level, when a losing trade should still be considered a good trade, how much opportunity…
67 The Systematic Investor Series – December 23rd, 2019
Dec 23, 2019 • 66 min
This week, we touch on the difference a year makes, how good position sizing can reduce anxiety, the recent article from AQR by Cliff Asness, why a meaningful allocation to Trend Following might be considered a must for any portfolio, the psychology of…
66 The Systematic Investor Series – December 15th, 2019
Dec 14, 2019 • 58 min
In this week’s episode, find out why investing in a strategy during a drawdown can be profitable in the long-run, why risk-adjusted performance is more important than tracking against an index, why price is a better guide than expert opinion, if there is…
65 The Systematic Investor Series – December 9th, 2019
Dec 8, 2019 • 69 min
This week, we discuss how doing less can ensure bigger & better results over time, average client holding periods versus the recommended amount of time, why short trades might be the essential part of a winning system, and why uniqueness is now a key…
64 The Systematic Investor Series – December 2nd, 2019
Dec 1, 2019 • 75 min
This week, we discuss the differences between recognizing risk and ‘warehousing’ risk, why Fundamental Investors could benefit from implementing Trend Following rules, Diversification as the most important component of risk management, what Traders can…
63 The Systematic Investor Series – November 23rd, 2019
Nov 24, 2019 • 87 min
Is the concept of being a great stock picker overrated? Are Trend Following returns mean-reverting over time? Will Sharpe Ratios of Trend Following strategies permanently stay lower from now on? Is it becoming harder to be a successful discretionary macro…
62 The Systematic Investor Series – November 17th, 2019
Nov 16, 2019 • 76 min
In this week’s edition, we discuss the possible benefits of running a multi-strategy portfolio, whether or not you need to have a ‘feel’ for the markets before constructing a model, the new all-time highs on the Dow, Trend Following as a viable solution…
61 The Systematic Investor Series – November 11th, 2019
Nov 10, 2019 • 74 min
In this week’s episode, we discuss the recently published book on Jim Simons & Renaissance Technologies, why you shouldn’t be too focused on one position, why it can be difficult to avoid overriding your system based on recent fundamentals, what investors…
60 The Systematic Investor Series – November 3rd, 2019
Nov 2, 2019 • 69 min
This week, we cover some of the dangers of ‘Home Bias’, and the benefits of diversification mixed with good risk management. We also discuss the differences between common Trend Trading and Systematic Trend Following, why investors tend to hold on to…
59 The Systematic Investor Series – October 29th, 2019
Oct 29, 2019 • 54 min
On the show today, we cover some of the dangers of investing in something based on its story alone, how market environments can change while the behaviour of participants stays the same, why Trend Followers rely on secret fundamental information being…
58 The Systematic Investor Series – October 20th, 2019
Oct 19, 2019 • 66 min
This week, we discuss Bank of America’s declaration of the end of the traditional 60/40 portfolio, the different attitudes to having ‘insurance’ in the markets, the reasons why too many fund managers are aiming for average returns, and the importance of…
57 The Systematic Investor Series – October 14th, 2019
Oct 13, 2019 • 65 min
On this week’s episode, we discuss the tendency for investors to confuse volatility & noise with risk and instability, the benefits of great mentorship, why the best investments are those that have survived calamitous periods, why risk from any single…
56 The Systematic Investor Series – October 7th, 2019
Oct 6, 2019 • 77 min
This week, we discuss the potential risks of aiming for smooth & steady returns, the pitfalls of having to make predictions, the higher-than-expected appearances of tail events, why it’s dangerous to look at the ‘average performance’ of an industry, and…
111 Alignment of Interest with Alan Sheen of Dalton Street Capital – 2of2
Oct 2, 2019 • 55 min
“We do two of the hardest styles of investing that I am aware of.” - Alan Sheen (Tweet) Today on Top Traders Unplugged, I continue our conversation with Alan Sheen, talking about how and why he designed Dalton Street Capital’s investment strategy the way…
55 The Systematic Investor Series – September 30th, 2019
Sep 29, 2019 • 74 min
In this week’s episode, we discuss why Sharpe Ratios should be taken with a pinch of salt, the benefits of using a Trading Coach, why consistently aligning with the best odds may be a better strategy than trying to predict future price moves, DUNN…
110 The Opportunity of Volatility with Alan Sheen of Dalton Street Capital – 1of2
Sep 25, 2019 • 39 min
“I learned everything I ever needed to know about systematic and quantitative investing even before I set foot in the field because systematic and quantitative investing, at the end of the day, is about discipline.” - Alan Sheen (Tweet) Today on Top…
54 The Systematic Investor Series – September 22nd, 2019
Sep 21, 2019 • 69 min
In this episode, we discuss Howard Mark’s comments regarding not losing money being more important than missing opportunities, how solid Trend Following performance can often stay on the edge of randomness, recent opposing comments from the AHL founders…
27 Top Traders Round Table with Daniel Crosby – 2of2
Sep 18, 2019 • 37 min
“Emotion overrides cognition pretty dramatically” - Daniel Crosby (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group. On today’s episode, host Niels Kaastrup-Larsen continues his conversation with…
53 The Systematic Investor Series – September 16th, 2019
Sep 16, 2019 • 70 min
In today’s episode, we discuss if it’s possible to successfully blur the lines between Discretionary & Systematic Trading, why most of the largest Hedge Funds in the world are Systematic, results of the rolling 10-year returns of Trend Following versus…
MacroVoices Spotlight – Niels Kaastrup-Larsen: Algorithmic Trading & Trend Following
Sep 13, 2019 • 37 min
The tables have turned! In this episode, Niels Kaastrup-Larsen becomes the first featured guest on Erik Townsend’s newest podcast - MacroVoices Spotlight! In this epsiode, Niels and Erik discuss Trend Following, the history of the Turtle Traders, Benefits…
26 Top Traders Round Table with Daniel Crosby – 1of2
Sep 12, 2019 • 31 min
“If we can follow just a couple of simple rules, we can overcome the behavioral errors which are the plague of so many investors.” - Daniel Crosby (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group.…
52 The Systematic Investor Series – September 10th, 2019
Sep 10, 2019 • 81 min
In our special Anniversary Edition of the Systematic Investor Podcast, we invite Peter Borish onto the show to discuss the differences between Discretionary and Systematic Investing, Peter’s journey from the New York Federal Reserve to his role at Quad…
51 The Systematic Investor Series – September 2nd, 2019
Sep 1, 2019 • 73 min
In this week’s show, we discuss using multiple systems to further enhance diversification, the differences between a portfolio meeting expectations versus benchmarking it against an Index, Trend Following in-house versus using an experienced Systematic…
50 The Systematic Investor Series – August 25th, 2019
Aug 25, 2019 • 85 min
Today we discuss the potential dangers of avoiding simplicity, how good Trading is counter-intuitive to Human Nature, the benefits of doing the same thing over and over, how to earn big profits through aggressive Trend Following strategies, the secrets to…
49 The Systematic Investor Series – August 19th, 2019
Aug 19, 2019 • 77 min
Today, we discuss the potential dangers of taking time away from the markets, the importance of Investor behaviour over the ability to analyse data, Morgan Housel’s article on the universal Laws of Investing, the differences between Buy-and-Hold,…
48 The Systematic Investor Series – August 11th, 2019
Aug 10, 2019 • 72 min
This week, we discuss the current state of the Bond market, how the larger, commercial institutions affect overall CTA Trend Following performance, how to deal with the fluctuations in currencies when performing backtests, and we also give our thoughts on…
47 The Systematic Investor Series – August 6th, 2019
Aug 5, 2019 • 81 min
This week, we discuss the importance of avoiding any emotional attachments to your positions, how correlated markets can affect your portfolio, how to decide which trades to execute when your signals outweigh the amount of equity available to trade, and…
Best of TTU – Behavioral Finance and & Crisis Alpha
Jul 31, 2019 • 15 min
When it comes to Behavioural Finance, a few people stand out in terms of their contribution to helping us all understand why and how it works. The intersection between Human Behaviour and Quantitative Investing can be difficult to understand for even the…
46 The Systematic Investor Series – July 29th, 2019
Jul 29, 2019 • 77 min
This week, we discuss whether commodities are more risky to trade than equities, if a stocks-only Trend Following strategy can be profitable in the long run, if a deep drawdown is worse than a long drawdown, and the importance of over-estimating any…
Best of TTU – Un-Learning & The Legacy of AHL
Jul 23, 2019 • 13 min
It has been said that: ‘The biggest room of all, is the room for improvement’, and one thing that is clear to see in the amazing careers of today’s guests, is the continued hunger for learning in the quest for an improved investment process. This has led…
45 The Systematic Investor Series – July 21st, 2019
Jul 21, 2019 • 77 min
In this week’s episode, we discuss Ray Dalio’s recent article on Paradigm Shifts and his comments on the safety of Gold. We also touch on the perils of having too many filters that keep you from entering a trade, why you should avoid ‘sure thing’ trade…
Best of TTU – The Importance of Asset Allocation & Patience
Jul 17, 2019 • 24 min
In 1987, 3 scientists, 1 from Cambridge and 2 from Oxford, were brought together by their shared passion for the markets and for computers. Little did they know, that over the next 3 decades, this passion would lead them to build 3 world-leading…
44 The Systematic Investor Series – July 15th, 2019
Jul 15, 2019 • 80 min
On this week’s episode, we discuss the resurgence of ‘boutique’ funds, the new Austrian bond which promises a yield of 1.2% over 98 years, why having new markets to Trade can be good thing, and the differences between Volatility Targeting, versus…
Best of TTU – Reminiscences of 3 Trend Followers
Jul 9, 2019 • 13 min
One of the great Investment books of all time is Reminiscences of a Stock Operator, which is the fictionalized biography of perhaps the most famous Financial Speculator of all time: Jesse Livermore. There is no doubt that even today, 100 years later, we…
43 The Systematic Investor Series – July 8th, 2019
Jul 7, 2019 • 61 min
In this episode, we discuss the recent article from AQR Capital’s Cliff Asness on the difficulty of sticking to a strategy through volatile periods, why we may never know if a particular system is broken, the differences between different Trading…
42 The Systematic Investor Series ft Salem Abraham – July 1st, 2019
Jul 1, 2019 • 92 min
Today we’re joined on the show by Salem Abraham, a legendary Trend Follower, and President of Abraham Trading Company based in Canadian, Texas. We discuss if Bitcoin has any real value, how Jerry Parker influenced Salem early in his career (and how he was…
41 The Systematic Investor Series – June 22nd, 2019
Jun 23, 2019 • 93 min
On today’s episode, we give our thoughts on the recent Bitcoin rally, the possible benefits of trading single stocks rather than indices, how spending less time looking at the markets can benefit your Trading, and we also offer some other suggestions for…
40 The Systematic Investor Series ft Corey Hoffstein – June 16th, 2019
Jun 16, 2019 • 100 min
This week, we’re joined by Corey Hoffstein from Newfound Research, who also hosts the Flirting With Models podcast. We discuss his journey into Systematic Investing, why the year you enter the markets will likely impact how you invest in the future, and…
Best of TTU – You Don’t Need To Be A Genius If You Can Stick To A Plan
Jun 11, 2019 • 21 min
In the previous Best of Top Traders Unplugged, we went back in time to re-visit some of the key lessons that many investors learned during the Financial Crisis of 2008. It was my way of reminding myself, and you, of something that we as investors must…
39 The Systematic Investor Series – June 9th, 2019
Jun 8, 2019 • 72 min
Can the VIX index be traded as part of a successful Trend Following strategy? Do CTAs have the edge over traditional Hedge Funds by being invested in the less popular markets? Should some parameters be adjusted according to the market being traded, and…
Best of TTU – Trading for a Living
Jun 6, 2019 • 16 min
The financial crisis back in 2008 is slowly fading from the memories of investors. But for those of us who lived and traded through it, many important lessons were learned, and usually the hard way. For many investors, it was a period that can be best…
38 The Systematic Investor Series – June 2nd, 2019
Jun 2, 2019 • 92 min
This week, we discuss the importance of process over outcome, how sports can be related to Trading, and whether mistakes are to be avoided completely or something we should look forward to learning from. Questions answered this week include: is Ray…
Best of TTU – How To Start & Grow A CTA Business
May 28, 2019 • 19 min
I get a lot of questions about ideas to help build the best Trading Model, and I understand why many aspiring managers feel that this is critical to their future success. There is though, a lot of truth in the saying: “Most people overvalue ideas and…
37 The Systematic Investor Series – May 26th, 2019
May 25, 2019 • 66 min
Is ‘Buy & Holding’ the S&P500 index the perfect investment strategy? Should you apply Equal-Weighting across all of your Trading positions? Are long-term strategies the only way to avoid market noise? Also, we give our thoughts on why you should avoid…
Best of TTU – The Evolution and Future of Trend Following
May 21, 2019 • 22 min
Regardless of the investment strategy that you apply to the markets, your strategy or approach needs to evolve over time. The way we did Trend Following back in the 1970s, 1980s, & 1990s is not exactly the way we do it today, and I think this can be said…
36 The Systematic Investor Series – May 19th, 2019
May 19, 2019 • 68 min
In today’s episode, we discuss whether or not Trend Following is more effective with Volatility Targeting, how cautious you should be of outlier events, how to use stress-levels as an indicator of how good your trading strategy is, and we give our…
35 The Systematic Investor Series – May 12th, 2019
May 12, 2019 • 85 min
Today, we discuss how to go from managing personal money to third-party money, in this current regulatory environment. We clear up some confusion surrounding the VIX market, touch on stocks vs commodities & how they affect on Trend Following strategies…
34 The Systematic Investor Series – May 6th, 2019
May 5, 2019 • 93 min
In today’s episode, we discuss how much central banks or political events, can prevent or create market trends in the future. We also discuss AQR Capital Management’s recent study on Trend Following performance in the current decade, and whether or not we…
25 Top Traders Round Table with John Fidler, Jonathan Miles, and Christopher Vogt – 2of2
May 2, 2019 • 30 min
“Over the years, I have allocated to a lot of short term CTAs… but due to the alpha decay factor to short-term models, not really made any money from it.” - John Fidler (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures…
Best of TTU – How to Test a Model Over Decades of Data
Apr 30, 2019 • 34 min
I often see the press write that too much money is chasing the same trends, and this being the reason that Trend Following strategies have been performing a little under par in the last few years. So who better to ask if this really is true, than my…
33 The Systematic Investor Series ft Wayne Himelsein – April 29th, 2019
Apr 29, 2019 • 111 min
This week, we invite special guest Wayne Himelsein onto the show from Logica Capital Advisers, in Los Angeles. Wayne explains his journey into starting a Hedge Fund, some of the lessons he has learned over the years, and some of the rules that keep him…
24 Top Traders Round Table with John Fidler, Christopher Vogt, and Jonathan Miles – 1of2
Apr 24, 2019 • 31 min
“Not all managed future strategies are created equal.” - John Fidler (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group. On today’s episode, guest host Ranjan Bhaduri speaks with John Fidler, Senior…
32 The Systematic Investor Series – April 22nd, 2019
Apr 21, 2019 • 92 min
Are CTAs giving the wrong message by charging low performance fees? Is there a perfect amount of AUM to aim for? Can Systematic Trading keep you happy? How accurately can we predict future returns? We discuss whether Trend Following is easy enough to do…
Best of TTU – Track Records vs Simulations.. What’s Best?
Apr 14, 2019 • 21 min
For those of us who have been on the manager side for a while, you’ll know that investors love to analyse decades of performance data before deciding which manager they are going to invest with, and that makes a lot of sense. But we also come across…
31 The Systematic Investor Series – April 15th, 2019
Apr 14, 2019 • 86 min
Does Systematic Trading completely eliminate all emotions from the process? Is it wise to use Stop-Losses? Should CTAs target low-volatility & average returns, or high returns with higher possible volatility? Can a finely-crafted Trading System be…
Best of TTU – Crisis Alpha Explained
Apr 9, 2019 • 21 min
Kathryn Kaminski is one of my favorite people to discuss Trend Following with, because she has a great way of simplifying and explaining some of the key concepts of the strategy. Today, we talk about the phrase Crisis Alpha, and how it may be better to…
30 The Systematic Investor Series – April 7th, 2019
Apr 6, 2019 • 94 min
Is it wise to adjust position-size according to recent volatility? Can back-testing a Trend Following strategy end up as just being a form of curve-fitting? We discuss the merits of Long-Term evidence over Recency Bias, the importance of Sharpe Ratios,…
Best of TTU – Why Trend Following Is Not A Black Box
Apr 4, 2019 • 14 min
Often, a Trend following strategy is described as being a ‘Black Box’, as if something bad was going on. So it was refreshing to hear Scott Foster talk about Trend Following as being in fact, a ‘White Box’, or a ‘Transparent Box’, in comparison to other…
29 The Systematic Investor Series ft Jesse Felder – March 31st, 2019
Mar 30, 2019 • 77 min
In this episode, we’re joined by special guest, Jesse Felder, from The Felder Report & the SuperInvestor Podcast. Jesse describes his journey into the markets, if he uses Trend Following strategies in his portfolio, why he thinks we’re in a Bear Market,…
23 Top Traders Round Table with Chris Cole, Matthew Sargaison, and Dan Stone – 2of2
Mar 27, 2019 • 29 min
“This is where the populism intercedes with the market risks. I think people look at these risks as independent risks, so they’re not looking at them and how they interrelate with the ecosystem of financial products, as well.” - Chris Cole (Tweet) Welcome…
28 The Systematic Investor Series – March 25th, 2019
Mar 24, 2019 • 82 min
On today’s show, we give our thoughts on ‘Evidence-Based Investing’, David Harding’s latest comments on Trend Following, how much is too much ‘Open Risk’, as well as answering: what are some of the ‘Trend Commandments’? Also, we discuss whether it’s safe…
22 Top Traders Round Table with Chris Cole, Matthew Sargaison, and Dan Stone – 1of2
Mar 20, 2019 • 30 min
“I think the idea is that the math of quantitative easing really matters. It’s all about the shift at the margin.” - Dan Stone (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group and the Managed…
27 The Systematic Investor Series – March 17th, 2019
Mar 16, 2019 • 68 min
Discussion points this week include, Volatility vs Risk, the differences between Trading and Investing, Zero Hedge’s comment about CTAs & Trend Followers being useless, and the NY Times article on high market skepticism while prices continue to go up.…
26 The Systematic Investor Series – March 10th, 2019
Mar 10, 2019 • 83 min
Is it more profitable to be longer-term? When is Trend Following the wrong strategy to use? Should you ‘ease’ into a trade, or go all in, and how should you adjust position size? Other talking points include where to trade Single Stock Futures, how to…
Best of TTU – How ”Slow” Trading Can Be Profitable
Mar 5, 2019 • 13 min
Would you believe somebody if they told you they had been very successful in the investment world, by looking at the just markets once a week? Everything, and everyone, seems to be getting increasingly more short-term in their nature, so it seems…
25 The Systematic Investor Series – March 3rd, 2019
Mar 2, 2019 • 97 min
Discussion points this week include: Where to start if you want to become a Trend Following Trader, whether or not to trade markets differently, Bloomberg’s article on the supposed Failing of Trend Following, how strategies can cope and adapt during…
21 Top Traders Round Table with Jake Barton, Trent Webster, and Steven Wilson – 2of2
Mar 1, 2019 • 44 min
“There’s a lot more data in some ways, but there is also a lot less interesting information that is differentiated.” - Jake Barton (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group and the Managed…
24 The Systematic Investor Series ft Meb Faber – February 24th, 2019
Feb 24, 2019 • 93 min
Meb Faber joins the show to discuss his journey into Trend Following, where Trend Following funds have gone wrong in terms of attracting assets & growing AUM, why he started his company Cambria Investments and the difficulties that this involved, the…
20 Top Traders Round Table with Jake Barton, Trent Webster, and Steven Wilson – 1of2
Feb 20, 2019 • 49 min
“Being a mid-twenties analyst during the 2008 financial crisis was a very eye opening experience, and it showed me the importance of being methodical and critical, and not quick to make decisions whenever you’re faced with adversity in investing.” -…
23 The Systematic Investor Series – February 18th, 2019
Feb 17, 2019 • 93 min
What is the value of the 200-day Moving Average, the benefit of tried and tested strategies vs new and trendy strategies? Are drawdowns a necessary component of a robust strategy, and what is the optimum startup capital? These, and a lot more we discuss…
Best of TTU – The History of Trend Following
Feb 13, 2019 • 10 min
The concept of Trend Following has been around for a long time, but it wasn’t until a few years back, that the Bible on Trend Following was written by Kathryn Kaminski and Alex Greyserman. Today, I am delighted to share some of the interesting lessons,…
22 The Systematic Investor Series – February 11th, 2019
Feb 10, 2019 • 92 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – Market Psychology & Universal Truths
Feb 4, 2019 • 11 min
A while back, I had a very enjoyable time speaking to Scott Foster from Dominion Capital Management, who is not your typical Trader. He draws from a wide range of influences such as Aristotle, Magic, and Austrian Economics. I am delighted to share some of…
21 The Systematic Investor Series – February 4th, 2019
Feb 3, 2019 • 73 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – Simplicity is the Ultimate Sophistication
Jan 30, 2019 • 16 min
A few years back, I had a great discussion with die-hard Trend Follower, Scot Billington. I would like to share some key moments with you, including how to perceive past track records, and also some of the differences between the long side and the short…
20 The Systematic Investor Series – January 28th, 2019
Jan 27, 2019 • 66 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
19 Top Traders Round Table with Andrew Lo and Sol Waksman – 2of2
Jan 23, 2019 • 41 min
“If someone wants a better return, they have no choice but to take additional risk, no matter how they feel about risk or how risk averse they may be.” - Sol Waksman (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought…
19 The Systematic Investor Series – January 20th, 2019
Jan 20, 2019 • 61 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
18 Top Traders Round Table with Andrew Lo and Sol Waksman – 1of2
Jan 16, 2019 • 40 min
“I was going through one of those inevitable losing streaks [early in my career] and I had a fundamental question. Does anyone make money trading the futures markets, or is it all a casino set up for the benefit of the exchanges?” - Sol Waksman (Tweet)…
18 The Systematic Investor Series – January 13th, 2019
Jan 12, 2019 • 66 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
17 The Systematic Investor Series – January 5th, 2019
Jan 7, 2019 • 72 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
16 The Systematic Investor Series – December 29th, 2018
Dec 29, 2018 • 73 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
15 The Systematic Investor Series – December 22nd, 2018
Dec 22, 2018 • 90 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – Systematic Global Macro…An Experts View
Dec 19, 2018 • 14 min
A while back I had a very memorable time talking with Anders Lindell, discussing many trading related topics. There was one part in particular that I want to share where Anders shared his understanding on US institutions and how they deal with asset…
14 The Systematic Investor Series – December 15th, 2018
Dec 15, 2018 • 49 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – From Discretionary Trading to a Systematic Approach
Dec 11, 2018 • 11 min
At the very beginning of my podcasting career, I had a great conversation with Mike Dever covering many trading related topics, one of which were the different approaches to trading. And there was One segment I really liked in particular, and which I…
13 The Systematic Investor Series – December 9th, 2018
Dec 9, 2018 • 51 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
17 Top Traders Round Table with James Koutolas, Tim McCourt, and Roy Niederhoffer – 2of2
Dec 5, 2018 • 35 min
“I would say that 90% of the people I’ve talked to that have made investments have actually used the term ‘picks and shovels’, and I’m starting to worry about whether the picks and shovels trade is the crowded trade, not the crypto trade.” - Roy…
12 The Systematic Investor Series – December 3rd, 2018
Dec 3, 2018 • 59 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
16 Top Traders Round Table with James Koutolas, Tim McCourt, and Roy Niederhoffer – 1of2
Nov 29, 2018 • 35 min
“The reason that I’m so bullish on crypto is that it’s the first fixed supply asset that has ever existed in human history, with all of the characteristics of money, but without the vice of overcreation, which has happened 100% of the time in human…
11 The Systematic Investor Series – November 26th, 2018
Nov 26, 2018 • 76 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
109 Risk Mitigation Whilst Trading Exotic Markets with Doug Greenig of Florin Court Capital – 2of2
Nov 21, 2018 • 36 min
“What is your edge? Why do you think you have it? Why do you think it will persist?” (Tweet) Moritz Seibert and I continue our conversation with Doug Greenig, talking about the many different ways risk can manifest in your firm, how best to minimize it,…
10 The Systematic Investor Series – November 17th, 2018
Nov 17, 2018 • 61 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
108 Why Trade in Exotic Markets with Doug Greenig of Florin Court Capital – 1of2
Nov 15, 2018 • 39 min
“My background really is in fixed income quant and macro and I have a pretty good grounding in discretionary trading, but I’ve been moving in a more systematic direction for a number of years.” (Tweet) Today on Top Traders Unplugged, I’m joined by my…
09 The Systematic Investor Series – November 12th, 2018
Nov 12, 2018 • 52 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – Defining Risk
Nov 7, 2018 • 8 min
During a conversation I had with expert Bill Dreiss, we discussed many topics, all with great value. One part in particular I found really interesting, and which I would like to share with you, was when I asked Bill how he defines risk. If you would like…
08 The Systematic Investor Series – November 5th, 2018
Nov 5, 2018 • 67 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – Turtle Trader Takeaways
Oct 31, 2018 • 9 min
It’s not often you get to sit down with a Turtle, let alone the father of the Turtle Experiment, and when I do I find it fascinating learning about the different experiences and outcomes that emerged from what really can be boiled down to 2 to 3 weeks of…
07 The Systematic Investor Series – October 29th, 2018
Oct 29, 2018 • 64 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
107 The Bright Future of Trend Following with Jean Jacques Duhot of Arctic Blue Capital – 2of2
Oct 25, 2018 • 30 min
“It’s all about learning and staying on the learning curve, that’s the best advice you can give to your children.” - Jean Jacques Duhot (Tweet) Moritz Seibert and I continue our conversation with Jean Jacques Duhot and further discuss his contrarian and…
Best of TTU – Identifying the Right Parameter Set
Oct 24, 2018 • 8 min
In any systematic trading strategy choosing the right combination of parameters for your model or approach is critical. So today, I wanted to share a valuable takeaway from a conversation with Bill Dreiss, where we discuss his thoughts, experience and…
06 The Systematic Investor Series – October 21st, 2018
Oct 20, 2018 • 59 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
106 Implementing The Contrarian Model with Jean Jacques Duhot of Arctic Blue Capital – 1of2
Oct 19, 2018 • 34 min
“I thought that trend-following was an amazing part of the story, but maybe it could be complemented by some contrarian approach. And also, taking the trend by cutting it into parts.” - Jean Jacques Duhot (Tweet) Today on Top Traders Unplugged, I’m joined…
Best of TTU – The Problems with Smart Beta & is Filtering the Holy Grail?
Oct 17, 2018 • 10 min
Kathryn Kaminski and I had the opportunity to sit down with Nigol Koulajian, the founder of Quest Partners, in which he shared his deep insights in many areas of trading. During our conversation, there were a few short segments that I particularly enjoyed…
05 The Systematic Investor Series – October 15th, 2018
Oct 15, 2018 • 55 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – Return Dispersion and How to Successfully Adapt
Oct 10, 2018 • 12 min
In today’s post, I would like to share with you some really great moments and unique takeaways from  a conversation I had with Marty Bergin, the president and owner of DUNN Capital Management, where Marty shares his views on Return Dispersion and how…
04 The Systematic Investor Series – October 7th, 2018
Oct 8, 2018 • 42 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – How the Turtles got their Name… and are the Turtle Rules Relevant Today?
Oct 3, 2018 • 11 min
Today I would like to share some really great and unique takeaways from a conversation I had with the one and only Richard Dennis, the father of the Turtle Project from back in the 1980’s as well as two of his turtles, namely Brian Proctor and Jerry…
03 The Systematic Investor Series – September 30th, 2018
Sep 30, 2018 • 61 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – Machine Learning
Sep 26, 2018 • 12 min
Today I would like to share with you some life lessons and learnings from expert Robert Sinnott, where he shares his in depth knowledge of the modern evolution of systematic trading, in the form of Machine learning, and how machine learning has effected…
02 The Systematic Investor Series – September 22nd, 2018
Sep 22, 2018 • 42 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
Best of TTU – The Impact of Volatility Trading
Sep 18, 2018 • 9 min
Kathryn Kaminski and I had the opportunity to sit down with Nigol Koulajian, the founder of Quest Partners, in which he shared his wealth of experience including life lessons and even his take on the modern scientific trading systems that are used today.…
01 Welcome to The Systematic Investor Series
Sep 17, 2018 • 56 min
Welcome to The Systematic Investor series. It’s a great privilege for me to invite you to a behind the scenes conversation between some of my favorite systematic investors namely Jerry Parker and Moritz Seibert. We get on a “call” each week to discuss the…
15 Top Traders Round Table with Jennifer Sunu, Arthur Bell and JP Bruynes – 2of2
Aug 23, 2018 • 46 min
“I think the flat fee is market-driven, and the trader is still going to try to do the best they can because they want performance to attract more capital.” - Arthur Bell (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures…
14 Top Traders Round Table with Jennifer Sunu, Arthur Bell, and JP Bruynes – 1of2
Aug 16, 2018 • 43 min
“Today, the rules [and regulations] are much broader, capture far more, but are far less prescriptive; more likely based on general objectives and themes rather than micromanaging exactly how things occur.” - Arthur Bell (Tweet) Welcome to Top Traders…
105 The Many Flavors of Trend Following with Niels Kaastrup-Larsen of DUNN Capital (Europe)
Jul 9, 2018 • 73 min
“As an industry, I think we tend to overcomplicate what trend following really is.” - Niels Kaastrup-Larsen (Tweet) We’re changing things up on today’s episode of the podcast: we have with us Frank Conway from the Economic Rockstar Podcast interviewing…
104 The Passive and The Active Investor with Harold de Boer of Transtrend – 2of2
Jun 21, 2018 • 40 min
“Are you invested in something that, whatever is going to happen, you can say, ‘okay, I’m invested in that for a good reason and I know that’s why i have it’?” - Harold de Boer (Tweet) Katy Kaminski and I continue our conversation with Harold de Boer, and…
103 Trading In The Medium-Term Space with Harold de Boer of Transtrend – 1of2
Jun 15, 2018 • 39 min
“The project was started with buying computers and getting data. That’s how far they were, so when I came there, they said, ‘we have computers and we have data, we hope you can do something with it’. For a mathematician, that’s a nice way to start.” -…
102 The State of Institutional Learning of Investing with Nigol Koulajian of Quest Partners – 2of2
May 24, 2018 • 33 min
“There’s more clarity gained not around the way the markets are, but the way people trade.” - Nigol Koulajian (Tweet) Katy Kaminski and I continue our conversation with Nigol Koulajian, and discuss if his strategies of working with, around, and doing the…
101 Why You Should Trust The Short-Term Over The Long-Term with Nigol Koulajian of Quest Partners – 1of2
May 18, 2018 • 37 min
“People say, ‘how did you manage to raise so much money by losing so much?’.” - Nigol Koulajian (Tweet) Nigol Koulajian is the Founder and Chief Investment Officer of Quest Partners LLC, and has been designing and trading short-term and long-term…
100 The Importance of Transparency With Your Clients with Robert Sinnott of AlphaSimplex – 2of2
Apr 19, 2018 • 38 min
“These are literally billion dollar questions. If you could answer any of these questions to any degree of satisfaction, you could put the rest of us out of business.” - Robert Sinnott (Tweet) In our continued conversation with Robert Sinnott, Katy…
99 Understanding The Good and Bad of Machine Learning with Robert Sinnott of AlphaSimplex – 1of2
Apr 14, 2018 • 35 min
“I couldn’t resist the chance of working with a small tight-knit group of individuals who are focused more on the research, more on understanding the markets than just making money.” - Robert Sinnott (Tweet) From the very beginning, Robert Sinnott has…
98 Adapting to the Ever Changing Markets with Marty Bergin of DUNN Capital – 2of2
Mar 2, 2018 • 38 min
“I really feel that the one missing piece in our program is short-term timeframe. If I could find something that worked in the short-term timeframe, I would love to add it to the program in some way.” - Marty Bergin (Tweet) Katy Kaminski and I continue…
97 Keeping Your Firm Client-First with Marty Bergin of DUNN Capital – 1of2
Feb 25, 2018 • 32 min
“[Bill] thought he was the only person [using trend following], and to tell the truth, I’m not sure that he was completely confident that it worked.” - Marty Bergin (Tweet) Our guest today is the President and Owner of DUNN Capital. Having a deep…
13 Top Traders Round Table with Michael Adam, David Harding, and Marty Lueck – 3of3
Sep 1, 2017 • 33 min
“Always be paranoid about [your strategies], and always be paranoid about every part of it.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures. On this special…
12 Top Traders Round Table with Michael Adam, David Harding, and Marty Lueck – 2of3
Aug 25, 2017 • 42 min
“That’s the challenge you face in systematic trading: it’s not to be really, really good, it’s not to be useful.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed…
11 Top Traders Round Table with Michael Adam, David Harding, and Marty Lueck – 1of3
Aug 18, 2017 • 44 min
“I do remember us having conversations about building something that would outlast us, but I don’t think we thought too hard about whether it would or not.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with…
10 Top Traders Round Table with Ryan Abrams, Ela Karahasanoglu, and Carrie Lo – 2of2
Jul 14, 2017 • 35 min
“You need to share the vision and have a vision as where the portfolio is going.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures. On this episode my guests are…
09 Top Traders Round Table with Ryan Abrams, Ela Karahasanoglu, and Carrie Lo – 1of2
Jun 25, 2017 • 40 min
“Pointing to the dispersion of returns among managers, it’s really difficult to desegregate skill from luck.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures.…
08 Top Traders Round Table with Richard Dennis, Brian Proctor, and Jerry Parker – 2of2
May 9, 2017 • 36 min
“During the Turtles program, it was very easy to do what you were supposed to do.” - Brian Proctor (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures. On this…
07 Top Traders Round Table with Richard Dennis, Brian Proctor, and Jerry Parker – 1of2
Apr 17, 2017 • 37 min
“Nobody told me it was a good idea, but nobody wanted to tell me it was stupid, so we did it.” - Richard Dennis (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures.…
06 Top Traders Round Table with Chris Solarz, Adam Duncan, Freeman Wood – 2of2
Mar 23, 2017 • 38 min
“I think people lose sight of the fact that hedge funds have done a very good job over the last 15 years.” - Adam Duncan (Tweet) We are back with another great episode of Top Traders Round Table, a series of conversations with industry leaders on the…
05 Top Traders Round Table with Chris Solarz, Adam Duncan, Freeman Wood – 1of2
Mar 7, 2017 • 41 min
“I think the key to any business is having a repeatable process.” - Chris Solarz (Tweet) Welcome to another edition of Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures. On this episode my guests…
04 Top Traders Round Table with Marty Bergin, Grant Jaffarian, and Mike Boss – 2of2
Feb 19, 2017 • 31 min
“The idea that a person has to be a qualified investor to get access to this type of investment is just ludicrous to me.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of…
03 Top Traders Round Table with Marty Bergin, Grant Jaffarian, and Mike Boss – 1of2
Feb 5, 2017 • 33 min
“The problem is you have a lot of trend followers who have been around a long time and haven’t adapted their programs.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed…
02 Top Traders Round Table with Amy Elefante Bedi, Ernest Jaffarian, and Phil Hatzopoulos – 2of2
Jan 16, 2017 • 24 min
“Most people don’t realize how broad the CTA space is.” (Tweet) We’re back with Top Traders Round Table, a discussion with industry leaders on the subject of Managed Futures. This is Part 2 of our conversation with guests Amy Elefante Bedi, Director of…
01 Top Traders Round Table with Amy Elefante Bedi, Ernest Jaffarian, and Phil Hatzopoulos – 1of2
Jan 4, 2017 • 26 min
“Smaller managers realize that they need to partner to succeed.” (Tweet) Top Traders is bringing you Top Traders Round Table, a series of conversations with industry leaders on the subject of Managed Futures. On this episode my guests are Amy Elefante…
96 The Simplicity of Trend Following with Katy Kaminski, Alex Greyserman & Roberto Osorio – 2of2
May 19, 2016 • 42 min
“We evolve over time to survive - we are constantly trying to find better ways to do what we do.” - Katy Kaminski (Tweet) Thanks for tuning in to the second part of our roundtable conversation with three of the leading voices in the trend following…
95 Redefining Trend Following with Katy Kaminski, Alex Greyserman & Roberto Osorio – 1of2
May 6, 2016 • 54 min
“This game is a number’s game, you are losing a lot and winning bigger sometimes.” - Katy Kaminski (Tweet) Thanks for tuning back into our show, we know it has been a while since we’ve published an episode. However, you are in for a real treat: this is…
94 Acknowledging Risk on a Daily Basis with Bill Dreiss of Dreiss Research Corporation – 2of2
Feb 17, 2016 • 58 min
“Correlations have increased over the years in every market.” - Bill Dreiss (Tweet) In our continued conversation with Bill Dreiss, we dive into why he built his model the way that he did, and how he deals with factors like risk, drawdowns, and investor…
93 Location Independence with Systems Trading with Bill Dreiss of Dreiss Research Corporation – 1of2
Feb 8, 2016 • 60 min
“In my opinion, the primary reason that systems traders are able to make money in the markets is that the market provides the returns more than the particular methodology that is imposed.” - Bill Dreiss (Tweet) Bill Dreiss has been an early adopter from…
92 Clear and Explainable Trend Models with Andreas Clenow of ACIES Asset Management – 2of2
Jan 25, 2016 • 62 min
“Never accept the old-style, blackbox explanation - always understand what is going on.” - Andreas Clenow (Tweet) In our continued conversation with Andreas Clenow, we discuss the research and work that goes into making his trading model, how he deals…
91 Keeping it Simple in Trend Following with Andreas Clenow of ACIES Asset Management
Jan 18, 2016 • 68 min
“The simpler systems are usually the better ones.” - Andreas Clenow (Tweet) Our guest today is a successful trader, businessman, and author. He is known for his books Following The Trend and Stocks on the Move, and after an impressive career at Reuters…
90 Why Diversification is Key with Robert Carver, Author & Trader – 2of2
Dec 9, 2015 • 73 min
“Diversification is the only free lunch in finance.” - Robert Carver (Tweet) In the second part of our conversation with Robert Carver, we dive into the specifics of his trading strategy, why he doesn’t trade full time, and what he thinks about the…