Top Traders Unplugged

• ALO30: The Quiet Rewire of Portfolio Construction ft. Cian Walsh

  Cian Walsh, Head of Hedge Funds and Private Debt at Formue, joins Alan Dunne to explore what it means to allocate capital when the macro regime, client expectations, and the structure of markets are all in flux. He explains why the 60/40 model obscures more than it reveals, how he is adapting institutional frameworks for thousands of private clients, and what changes when you view hedge funds not as a bucket, but as a function. From the discipline of sizing trend in a sideways regime to the slow shift from vintage private credit to evergreen, this is a conversation about building portfolios that can hold together when the ground moves.-----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 [email protected] 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 Cian on LinkedIn.Episode TimeStamps: 02:12 - Introduction to Cian Walsh05:30 - How does institutional asset allocation stand out?06:39 - Asset allocation in a shifting regime09:33 - A move towards mass customization10:26 - The 60/40 portfolio is dying - what is next?13:28 - The challenges of implementing a total portfolio approach17:16 - Dealing with underperforming strategies20:09 - More growth or more all-weather?23:30 - Why Walsh believes in systematic trading28:51 - Do Walsh hold any long volatility strategies?30:04 - Walsh's process for selecting managers36:55...

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• SI355: Drawdowns Don’t Lie, But They May Mislead ft. Alan Dunne

  Markets have recovered fast - maybe too fast. Alan and Niels unpack what sits beneath the surface: a bond market brushing off record deficits, volatility draining from asset prices, and trend followers caught between sharp reversals and shrinking conviction. They explore how sentiment, structure, and speed are shaping today’s trading environment, and what most investors still underestimate about liquidity, macro policy, and risk. With fresh research in hand, they ask whether drawdowns are misunderstood, if diversification has become an illusion, and why clarity often emerges only after the pain. We do recognize that we had some technical issues with this recording and appreciate you for sticking with us.-----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 [email protected] 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:00:57 - What has caught our attention recently?04:38 - Industry performance update07:38 - Is trend thriving?09:57 - Dunne's global macro overview16:33 - A catastrophic year for the dollar18:12 - Is this time different for trend following drawdowns?27:26 - The value of long term track records34:30 - Is trend following flawed?37:48 - What are investors actually interested in?44:32 - What is up for next week?Copyright © 2024 – 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

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• OI17: The End of the Bull Market: What’s Next for Equities? ft. Asim Ghaffar

  In this episode, Moritz Seibert speaks with Asim Ghaffar, the founder and CIO of AG Capital, a Boston-based macro hedge fund. Asim explains why he believes insourcing rather than outsourcing the organizational processes of running a hedge fund business is critical and how it can add long-term value to the business. He also describes why sales and branding are key components to a successful investment management business, and how AG Capital connects with clients and prospective investors. In the second part of the conversation, Asam and Moritz speak about AG Capital’s style of trading, how they position size, why they take concentrated positions, how their methods differ from those of systematic trend following funds, and what their current long-term and short-term investment themes are, touching on gold, Bitcoin, copper, natural gas, and some other markets.-----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 [email protected] please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Moritz on Twitter.Episode TimeStamps:02:13 - Introduction to Asim Ghaffar and AG Capital06:48 - What defines a great hedge fund?12:13 - How do you find clients as a hedge fund?18:32 - Creating world class in-house operations25:32 - Ghaffar's framework for building portfolios35:05 - How Ghaffar differs from a classical trend follower39:16 - Why Ghaffar enforces a fixed number of positions41:40 - What is so cool about stocks?46:16 - Why Ghaffar sometimes decreases an exposure51:36 - How Ghaffar approaches gold54:05 - Why AG Capital stays away from Bitcoin01:01:54 - Is China actually more democratic than the US?Copyright © 2024 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can

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• SI354: Everyone’s Different. Until They’re Not ft. Rob Carver

  With markets drifting and conviction thinning, Rob Carver joins Niels to take stock of a moment that feels suspended... not quite crisis, not quite calm. They discuss why recent rule changes around bank capital and crypto assets may carry more weight than headlines suggest, and what falling shipping volumes might be whispering about global demand. Rob breaks down the math of drawdowns, the tension between Kelly sizing and real-world volatility, and how systematic managers can fool themselves into thinking they’re diversified. It’s a conversation about structure, discipline, and why most edges today come from avoiding mistakes rather than discovering secrets.-----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 [email protected] 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: 01:07 - What has caught out attention recently?01:23 - Rob and Niels have done the unthinkable02:59 - Fed is rolling back important capital rules05:22 - What the shipping industry reveals about the economy07:33 - Industry performance update16:00 - Q1, William: Is it possible to apply the concept of decomposing returns in commodity trading?27:24 - Q2, Raphael: About estimating the full sharpe and Kelly of trend following37:03 - Q3, Dom: Has Rob come across any useful frameworks, research, or resources for designing systems that intentionally combine systematic structure with discretionary judgment?41:52 - Are all managers the same, although we all claim to be different?52:26 - Why are bond...

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• GM84: What Everyone Saw, but No One Priced ft. Bob Elliott

  Bob Elliott joins Cem Karsan and Niels Kaastrup-Larsen for a conversation about what happens when strong economic data masks a deeper structural shift. The income engine still runs, but tariffs, labor scarcity, and immigration limits are quietly rewiring the system. Inflation may not fall the way people expect. Profit margins may not hold. And capital may start flowing away from the US for the first time in a generation. This isn’t a cycle call. It’s a question of what kind of economy we are becoming—and whether portfolios built for the past can survive what’s coming.-----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 [email protected] 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 Bob on Twitter.Episode TimeStamps: 02:58 - Revisiting the Income Driven Expansion12:30 - Inflation Dynamics and Economic Policy15:31 - The Dynamics of Labor and Immigration27:58 - Strategic Decoupling and Its Implications32:04 - The Economic Implications of Manufacturing in China42:13 - Economic Growth and Market Dynamics48:28 - The Evolving Landscape of Investment Strategies53:25 - Understanding Alpha Strategies and Portfolio Diversification01:01:10 - The Dynamics of Hedge Fund Strategies and Correlation01:09:34 - Global Macro Trends and Financial DecouplingCopyright © 2024 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help

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