Top Traders Unplugged
Niels Kaastrup-Larsen
Discover the fascinating world of investing with Niels Kaastrup-Larsen and his remarkable co-hosts. Each week, we bring you compelling conversations with legendary investors, leading economists, masterful traders, and forward-thinking thought leaders. From Trend Following and Global Macro to Geo-Politics, Commodities, Quant Investing, Crypto, and Volatility, we uncover the strategies, stories, and lessons behind their success. Gain actionable insights from industry veterans as we celebrate their achievements and learn from their challenges. Stay ahead in the ever-evolving landscape of investing - tune in weekly and elevate your financial knowledge. For the latest episodes and expert insights, visit https://toptradersunplugged.com
Episodes
Mentioned books
Dec 3, 2025 • 1h 5min
ALO32: AI Booms, Fiscal Strains and the New Macro Regime ft. Joe Little
In this discussion, Joe Little, Global Chief Strategist at HSBC Asset Management, delves into the shifting macroeconomic landscape. He highlights the transition to a supply-constrained regime, where inflation is becoming a sticky challenge. Joe also explores AI's potential as an investment boom, the implications of fiscal dominance, and the complexities of emerging markets. He shares insights on portfolio strategies, emphasizing the need for diversification and adapting to a multipolar world, as well as the nuanced dynamics affecting the dollar.
37 snips
Nov 29, 2025 • 1h 6min
SI376: What They’re Only Now Starting to See ft. Andrew Beer
Andrew Beer, a managed futures and CTA strategist, shares his insights on the evolving landscape of wealth management. He explores how the broken 60/40 investment strategy is pushing managers to seek new diversifiers, highlighting the surge in trend ETFs and liquid alts. The discussion delves into the complexities of replication versus traditional CTAs, the true costs of investing, and the potential of managed futures as a ‘cloudy crystal ball’ for market predictions. Andrew also introduces a new low-fee ETF based on his index strategy.
14 snips
Nov 26, 2025 • 1h
IL43: The Land Trap: How Property Shapes Power ft. Mike Bird
Economist Mike Bird joins the discussion, diving into the fascinating relationship between land and power. He explains the 'land trap' and how it uniquely affects China, creating a perplexing housing paradox. Mike outlines land's pivotal role as collateral in banking and its unyielding traits of immovability and fixed supply. He contrasts China's challenges with Singapore's model of effective land use, raising questions about whether other nations can implement similar reforms. This engaging conversation reveals the intricate ties between real estate, finance, and political structures.
55 snips
Nov 22, 2025 • 1h 17min
SI375: CTAs After the Walls Come Down ft. Rob Carver
Rob Carver, an experienced systematic trader and quantitative researcher, joins to explore the nuances of trend following. He discusses whether it's a true edge or merely a compensation for discomfort. The conversation dives into the pitfalls of robustness testing, the complexities of position sizing, and the implications of CalPERS' Total Portfolio Approach for CTAs. Carver provides valuable insights on trading strategies, including the risks of intraday trading and the importance of aligning data frequency with trading horizons.
75 snips
Nov 19, 2025 • 1h 4min
UGO08: The Coming Hunger Games for Global Savings ft. David Dredge
David Dredge, a seasoned volatility strategist and author, joins to discuss how risk can be reframed as freedom. He shares his F1 brakes analogy, illustrating how protection boosts resilience in investing. Dredge critiques the traditional 60/40 portfolio, touting a 'preserve and enhance' approach for better long-term performance. He delves into the growing 'Hunger Games' dilemma for global savings amid fiscal repression and demographic shifts, arguing for convexity-focused strategies and the integration of gold and Bitcoin as protective assets.
30 snips
Nov 15, 2025 • 59min
SI374: When the Data Goes Dark: Trend Following, Turbulence & Total Portfolios ft. Katy Kaminski
What happens when essential economic data disappears? The conversation dives into how markets can remain steady while price reveals hidden truths. Katy explains how trend following adapts to inflation instability, and they discuss how total portfolio approaches can enhance diversification. The struggle of short-term strategies this year is highlighted, alongside the potential of alternatives in private wealth. Finally, the benefits of integrating managed futures into target date portfolios are examined to mitigate retirement risks.
29 snips
Nov 12, 2025 • 1h 1min
GM91: Inside China’s Growth Dilemma ft. George Magnus
George Magnus, a seasoned economist and China expert from the China Centre at Oxford University, navigates the intricate landscape of China’s economy. He sheds light on the striking divide between advanced manufacturing and economic stagnation. Magnus discusses the challenges of rebalancing towards consumer-led growth due to political constraints, the significant debt burdens faced by local governments, and trade frictions, especially regarding rare-earth elements. His insights provide a captivating glimpse into the complexities of China’s present and future.
57 snips
Nov 8, 2025 • 1h 3min
SI373: Why Trend Thrives When Inflation Returns ft. Yoav Git
Yoav Git, a quantitative investor specializing in systematic and trend strategies, joins the conversation to explore intriguing market dynamics. He discusses the inelastic markets hypothesis, revealing how a single dollar of inflow can amplify valuations dramatically. Yoav critiques efficient market assumptions and delves into the power of trend following during inflationary periods. The impact of flows on price movements, alongside the peculiarities of managed futures as inflation hedges, highlights the evolving narrative of today’s financial landscape.
30 snips
Nov 5, 2025 • 1h 11min
GM90: The Quiet Repricing of Reality ft. Adam Rozencwajg & Cem Karsan
Adam Rozencwajg, a seasoned natural resources and commodities investor, brings profound insights into the current economic landscape. He discusses the hidden fractures in monetary systems and the potential resurgence of inflation. The conversation explores the decline of US shale and Venezuela's untapped oil reserves. Adam highlights why commodities, particularly oil and metals, remain undervalued despite geopolitical pressures. Additionally, he unpacks the cyclical nature of markets and the looming risks of debt monetization.
49 snips
Nov 3, 2025 • 41min
OI19 BONUS: Living With Ed Seykota ft. David Druz
David (Dave) Druz, a former commodity trader, shares his fascinating journey of living with legendary trader Ed Seykota for six months. He highlights Seykota's unique, psychology-focused approach to trading, emphasizing instinct and presence over systems. Dave recounts successes and psychological struggles while mimicking Seykota's style, revealing the pressures of performance in trading. The conversation also explores optimal bet sizes, emotional resilience, and the importance of aligning trading strategies with personal psychology.
