TopTradersUnplugged.com

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500

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Jun 2026

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About the show

Niels Kaastrup-Larsen | Trend Following Expert | 10-Year+ Podcast with 10M+ Downloads | Talks about Alternative Investments, Hedge Funds, Global Macro, Geo-Politics, Commodities, Quant Investing, Crypto, and Volatility. Join the conversation!

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60 recent

June 13, 20261 hr 7 min

SI404: When Trend Following Meets Equities ft. Eric Crittenden & Andrew Beer

Trend following has long promised and delivered diversification, crisis protection and uncorrelated returns. Yet many investors still struggle to hold it through difficult periods. In this conversation, Andrew Beer and Eric Crittenden explore why that gap exists and how combining trend following with equities may create a more durable portfolio. Together with Niels Kaastrup-Larsen discuss the rise of managed futures ETFs, the debate between simplicity and complexity in systematic investing, and why algorithmic discipline allows investors to act when intuition fails. The episode also examines portfolio construction, product design and the evolving role of alternatives in a changing investment landscape. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to info@toptradersunplugged.com Follow Niels & Andrew on Twitter: @TopTradersLive & @andrewdbeer1 And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

June 10, 202653 min

UGO12: Why the Next Financial Crisis Could Change America Forever ft. Danielle DiMartino Booth

As Kevin Warsh prepares to take the reins at the Federal Reserve, a deeper question emerges: has the Fed reached the limits of what monetary policy can achieve? Cem Karsan sits down with Danielle DiMartino Booth to explore the growing tensions between inflation, debt, financialization, and political pressure. From the future of quantitative easing and Treasury market risks to the rise of populism and the long term consequences of decades of intervention, this conversation examines whether the United States is approaching a turning point that could redefine the relationship between markets, government, and the Federal Reserve. This is a conversation about preparing, not predicting, when history starts to rhyme a little louder. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to info@toptradersunplugged.com Follow Niels & Cem on Twitter: @TopTradersLive & @jam_croissant And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

June 6, 20261 hr 23 min

SI403: Trend Following in an Era of Geopolitical Risk ft. Marat Molyboga & Katy Kaminski

Geopolitical tensions, inflation shocks, and shifting market regimes are reshaping the investment landscape. Marat Molyboga and Katy Kaminski joins us to explore why managed futures have historically performed well during periods of geopolitical stress and why investors often misunderstand the role of crisis alpha in a portfolio. The conversation examines inflation driven market disruptions, diversification, short term versus long term trend following, portfolio construction, and the behavioural mistakes that prevent many investors from capturing the full benefits of trend strategies. It is a wide ranging discussion about risk, uncertainty, and adapting to a changing world. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to info@toptradersunplugged.com Follow Niels & Katy on Twitter: @TopTradersLive & @katykam And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

June 3, 20261 hr 1 min

ALO35: Why Macro Investing Is Becoming More Systematic ft. George Patterson

How do quantitative investors adapt when markets, technology and macro regimes are constantly changing? In this conversation, Alan Dunne sits down with George Patterson, CIO of PGIM Quant Solutions, to explore the evolution of systematic investing from the 1990s to today’s AI driven landscape. They discuss regime detection, inflation risk, portfolio construction, machine learning, private markets, volatility overlays and the growing role of language models in investment research. George also shares insights from decades in quant investing, including lessons from Covid, the importance of model discipline and why communication skills matter as much as technical expertise. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Alan on Twitter: @TopTradersLive & @alanjdunne And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

May 30, 20261 hr 30 min

SI402: Why Markets Can’t Stop Trending ft. Richard Brennan

What happens when markets stop behaving like machines and start behaving like living systems? In this episode, Richard Brennan joins Niels to explore passive investing, complex adaptive systems, volatility suppression, and the hidden forces reshaping modern market structure. From structured products and reflexive flows to demographics, trend following, and the fragile illusion of equilibrium, this conversation asks whether markets are becoming more unstable precisely because investors believe they have become safer. A thoughtful and layered discussion about why price discovery may be weakening, why trends persist, and why systematic strategies may be more relevant in a world increasingly shaped by feedback loops. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Richard on Twitter: @TopTradersLive & @RichB118 And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

May 27, 20261 hr 1 min

IL49: The Space Economy Is No Longer Science Fiction ft. Rainer Zitelmann

On this episode we are joined by Dr. Rainer Zitelmann, to discuss his book New Space Capitalism: The Entrepreneurial Path to the Stars. We discuss why government-funded space programs were initially successful but also why the future of space exploration, and the space economy, will be driven by private companies. Dr. Zitelmann explains what he believes to be the key driver of unlocking the economic potential of space and why it’s conceivable that ventures such as space tourism, orbital data centers and asteroid mining might be listed on the stock exchange. This is a conversation for everyone who wants an early look at an industry that is about to “take off”! IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Kevin on Twitter: @TopTradersLive & @kcold1 And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

May 23, 20261 hr 1 min

SI401: Why Trend Following Wins in Chaos ft. Nick Baltas

The world of systematic investing is evolving fast, and in this episode Nick Baltas joins Moritz Seibert to explore the explosive growth of QIS strategies, the current state of trend following in 2026, and the challenges facing systematic investors in today’s macro environment. They discuss crowding risks in quantitative strategies, the recent collapse in commodity curve carry, and why some trend managers continue to outperform through broader diversification and alternative markets. The conversation also dives into execution alpha, AI driven research workflows, inflation risks, and the ongoing institutional demand for systematic macro strategies. A sharp and highly practical discussion for anyone interested in trend following, QIS, commodities, and quantitative investing. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Nick on Twitter: @TopTradersLive & @nbaltas And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

May 20, 20261 hr 13 min

GM101: When Passive Breaks the Market ft. Hari Krishnan & Cem Karsan

Hari Krishnan joins Niels and Cem for a deep exploration of what happens when markets become dominated by flows rather than fundamentals. Drawing on his new paper with Mike Green and Stefan Sturm, Hari explains why rising passive ownership may weaken price discovery, amplify concentration in mega-cap stocks and create conditions for reflexive instability. The conversation expands far beyond indexing, touching on volatility targeting, leverage, dispersion, inflation, government intervention and the growing dependence of the global economy on rising asset prices. Along the way, Cem and Hari debate whether policymakers can continue stabilizing an increasingly fragile system, what could trigger a structural break, and how investors should think about positioning in a world where flows may matter more than fundamentals. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to info@toptradersunplugged.com Follow Niels & Cem on Twitter: @TopTradersLive & @jam_croissant And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

May 16, 20261 hr 7 min

SI400: When Crisis Alpha Hides in Plain Sight ft. Yoav Git & Rob Croce

This week, we are joined by Yoav Git and Rob Croce from Fidelity Investments for a deep dive into trend following, portfolio construction and execution in modern markets. The conversation explores why crisis alpha may come more from beta timing than market selection, the logic behind betting against beta, and how quantitative investors think about diversification, carry and relative value strategies. Along the way, the trio discuss Japan’s rising bond yields, momentum investing, execution risk during crises and even how ChatGPT helped solve a 60-year-old mathematical problem. This is a technical but highly practical discussion about how systematic investors build robust portfolios in a changing macro environment. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels on Twitter and Yoav on LinkedIn: @TopTradersLive & www.linkedin.com/in/yoavgit/ And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.

May 13, 20261 hr 4 min

GM100: Central Banks in the Dark: Inflation, AI, and the Limits of Control ft. David Beckworth

Today, we are joined by David Beckworth, Senior Research Fellow at the Mercatus Center and host of Macro Musings, for a deep dive into the biggest macro questions shaping markets right now. David explains why central banks struggle to respond to supply shocks, why inflation expectations are more fragile than policymakers admit, and how frameworks like nominal GDP targeting could offer a more robust path forward. We explore the collision between geopolitical shocks and AI-driven productivity, the hidden consequences of quantitative easing, and the growing tension between monetary policy and fiscal sustainability. From stablecoins and the future of the dollar to the Fed’s balance sheet and financial system plumbing, this episode unpacks the forces quietly reshaping the global economy, and why policymakers may be less in control than we think. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Alan on Twitter: @TopTradersLive & @alanjdunne And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.