Top Traders Unplugged

SI381: Process Over Pain: Trend Following in an Unforgiving Market (Group Conversation Part 2)

31 snips
Jan 3, 2026
Guest
Joav (Yoav) (identified in transcript as Joav/Yao)
Join Joav, a seasoned trend-following CTA manager, as he dives into critical discussions on market behavior and model integrity. The conversation covers whether current drawdowns are harbingers of structural change or just a cost of discipline. They explore the impact of AI in portfolio management, emphasizing the need for transparency in design choices to build trust with allocators. Joav also highlights the importance of understanding the causes of underperformance before making model adjustments. Don't miss their bold predictions for 2026!
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INSIGHT

TPA Should Favor CTAs — In Theory

  • Total Portfolio Approaches could mathematically justify much larger CTA allocations than current practice shows.
  • Flows will still follow performance, so TPA may change thinking but not guarantee big asset shifts.
ADVICE

Apply AI For Productivity, Not Revelation

  • Use AI cautiously to assist coding, summarizing client discussions, and clarifying your message.
  • Let AI highlight misleading phrasing in presentations so you can tighten your communication.
INSIGHT

Trend Following Is A Built-In TPA

  • Trend programs already perform a form of total portfolio allocation by shifting risk to the best opportunities across markets.
  • TPA may empower teams but raises look-through and overlap questions with tactical managers.
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