Top Traders Unplugged

Niels Kaastrup-Larsen
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Jul 30, 2025 • 1h 8min

GM85: What If the Real Risk Isn’t Recession — But Reinvention? ft. Steven Bell

Steven Bell, recently retired chief economist and money manager, shares insights from his diverse experiences in the economic arena. He discusses how AI could pose greater risks than tariffs, revealing the complexities of modern labor dynamics. Bell emphasizes the evolving independence of the Federal Reserve and its implications on monetary policy. He also reflects on the impact of social media on market behavior and the challenges faced by investors, advocating for a nuanced understanding of macroeconomic trends.
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13 snips
Jul 26, 2025 • 1h 13min

SI358: Why the Best Trend Models Might Be the Simplest Ones ft. Tom Wrobel & Andrew Beer

Tom Wrobel, a macro and discretionary investment strategist from London, and Andrew Beer, a trend replication expert based in Greece, delve into the evolving landscape of trend following. They discuss new research suggesting a shift towards simpler, slower models, raising questions about the future of Commodity Trading Advisors. Andrew critiques the complexity of many strategies, arguing that they may obscure true value and increase costs. This insightful conversation highlights the risks investors face as they navigate increasingly intricate trading methods.
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Jul 23, 2025 • 1h 6min

TTU150: Scarcity, Security, and the Shift to Soil ft. Artem Milinchuk

Artem Milinchuk, Founder and Head of Strategy at FarmTogether, returns to discuss the rising importance of farmland in investment portfolios. He explains how shifting demographics and inflation are transforming this once-niche asset class into a mainstream option. The conversation touches on investment risks, the dual income potential from land and crops, and advancements in agricultural technology. Milinchuk also addresses sustainable practices and the growing interest from affluent investors seeking reliable diversification.
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151 snips
Jul 19, 2025 • 1h 30min

SI357: Liquidity, Leverage, and the Lie of Calm ft. Cem Karsan

Cem Karsan, an expert in volatility and market structure, discusses the deceptive calm in the markets, revealing the hidden complexities of a crowded hedge fund ecosystem. He dives into the unexpected spikes in the VIX due to call activity and the subtle pressures on monetary policy from political dynamics. Karsan also analyzes China's strategic resource diplomacy and the looming impact of AI on employment. The conversation emphasizes the necessity for cautious investment strategies amidst rising fragility and systemic risks, urging listeners to be aware of traps lurking below the surface.
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34 snips
Jul 15, 2025 • 44min

UGO04: CNBC Legend on the Price of Losing Price ft. Rick Santelli

Rick Santelli, a CNBC correspondent renowned for his insights into the bond market, shares his seasoned perspective with Cem Karsan. They delve into the effects of central bank policies on market dynamics and the troubling loss of honest signals in trading. Santelli warns of the potential breaking points in housing and credit markets, revealing how zero interest rates and unchecked incentives could lead to economic crises. His anecdotes from the trading floor offer a nostalgic yet cautionary view of the current financial landscape.
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14 snips
Jul 12, 2025 • 1h 4min

SI356: The Anatomy of a CTA Recovery ft. Katy Kaminski

Katy Kaminski, an expert in trend following and managed futures, dives deep into recent research on market drawdowns and recoveries. She discusses how quick recoveries occur when markets break and the factors influencing slower rebounds. The conversation touches on copper’s significant fluctuations, China's impact on CTA returns, and the nuances between slow replication strategies versus trend-following approaches. Katy emphasizes understanding the environments trend-following needs and what signals indicate market shifts.
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54 snips
Jul 9, 2025 • 1h 5min

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

Cian Walsh, Head of Hedge Funds and Private Debt at Formue, shares his wealth management expertise rooted in a diverse career spanning multiple global markets. He challenges the conventional 60/40 asset allocation model, emphasizing the need for adaptability in today's dynamic environment. The discussion also delves into innovative portfolio strategies, the transition from vintage private credit to evergreen solutions, and the importance of viewing hedge funds as functional elements rather than mere categories. It's a deep dive into building resilient portfolios amid shifting macro conditions.
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19 snips
Jul 5, 2025 • 46min

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

Markets have rebounded quickly, but underlying factors raise questions. The bond market’s resilience amidst deficits and volatility’s impact on asset prices are scrutinized. Key insights delve into the misconceptions surrounding drawdowns and the illusions of diversification. The interplay of liquidity, macro policies, and risk management is dissected, revealing the challenges investors face today. Geopolitical events and their effects on market dynamics emphasize the need for adaptive strategies in uncertain times.
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38 snips
Jul 2, 2025 • 1h 9min

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

Asim Ghaffar, Founder and CIO of AG Capital, shares insights on the critical role of insourcing for hedge funds. He highlights the significance of sales and branding in attracting investors while navigating the end of the bull market. Asim discusses AG Capital's trading strategies, emphasizing risk management and concentrated positions. The conversation also touches on investment themes like gold, Bitcoin, and natural gas, providing a balanced perspective on navigating current market conditions and investment opportunities.
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55 snips
Jun 28, 2025 • 1h 13min

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

Rob Carver and Niels dive into the current market's uncertain state, analyzing the impacts of recent changes in banking regulations and shipping volumes on global demand. They explore the math behind drawdowns and the complexities of position sizing, as well as the common misconceptions about diversification. The discussion highlights the value of avoiding mistakes in a highly competitive environment and examines how fresh perspectives from traders can invigorate strategies. It's a thought-provoking look at maintaining an edge in trading.

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