SI376: What They’re Only Now Starting to See ft. Andrew Beer
Top Traders Unplugged
Simplify's Low-Fee ETF Built on the Index
Andrew outlines Simplify's planned ETF using their index, fee structure and the role of derivatives and swaps in access.
In this week’s Systematic Investor episode, Niels and Andrew Beer explore how a broken 60/40 paradigm is forcing wealth managers into a new world of “other” diversifiers. Andrew reflects on the Goldman Sachs report about private wealth flows, the rise of liquid alts and why big houses are suddenly launching trend ETFs. The conversation dives into replication versus traditional CTAs, the true cost of complexity, and Simplify’s new index-based product built on Andrew’s strategy. Along the way they debate pods, Bitcoin, and Andrew’s evolving metaphor of managed futures as a cloudy, but occasionally crystal-clear, macro crystal ball.
-----
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 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:
00:00 - Intro and Thanksgiving reflections, gratitude and mood after the holiday
01:14 - Goldman report: trillions from wealthy investors and a seismic shift away from 60/40
03:38 - Why bonds stopped diversifying and the growth of the “other” bucket in portfolios
05:44 - Liquid alts vs illiquid alts and the timing of big firms launching trend ETFs
08:25 - Odd Lots, pods and Dalio’s skepticism on multi-strats’ future
09:22 - Bitcoin’s volatile run and rumors of a manipulated pullback
10:59 - November performance: zigzags in trend indices and short-term traders’ struggles
12:55 - How DBMF positioned: concentration, short yen, euro pain and being contrarian post “Liberation Day”
16:05 - Are we still “replication”? Alternative data beta, tracking error and what’s really being delivered
18:16 - Targeting “space beta” plus cost savings: is complexity in CTAs adding or destroying value?
22:14 - Indexing the replication strategy and using swaps: Simplify’s new "low" headline fee ETF built on Andrew’s index
30:49 - The fee and cost debate: headline fees, trading costs, swaps and what investors should really ask
34:33 - Implementation costs, incentive fees and tax efficiency versus simple fee labels
45:08 - A better story for managed futures: from black box trend to “cloudy crystal ball”
51:22 - How trend taps local information: “someone knows something” and prices as detectors
58:03 - Takeaways from the Stockholm roundtable: short vs long term, exotic markets and heterogeneity
01:01:07 - Alpha-beta separation, core CTA beta vs high-conviction managers and where the space is heading
01:03:44 - Closing thoughts: civilized disagreement, common mission and why every portfolio needs this exposure
Copyright © 2025 – 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
In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
The AI-powered Podcast Player
