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
38 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.
24 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.
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.
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.
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.
56 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.
85 snips
Jun 25, 2025 • 1h 15min
GM84: What Everyone Saw, but No One Priced ft. Bob Elliott
Bob Elliott, an investment strategist renowned for his expertise in macroeconomics, joins the discussion to unravel the complexities of today's financial landscape. He emphasizes that while strong economic data seems promising, it conceals deeper structural shifts in the economy. Topics include the potential for inflation to defy expectations, the impact of tariffs and labor shortages, and the prospect of capital flowing out of the U.S. for the first time in decades. Elliott urges a rethink of traditional investment strategies to adapt to this evolving reality.
6 snips
Jun 21, 2025 • 1h 9min
SI353: You Don’t Buy It for Returns. You Buy It Because It Works! ft. Yoav Git
Yoav Git, a financial expert currently visiting his parents in Israel, dives into the complexities of the global crisis and the oil market. He discusses how portfolios can benefit from negatively correlated assets, even if they yield little in returns. The conversation touches on the ongoing challenges in volatility and how trend-following strategies defy traditional investment wisdom. Git emphasizes the importance of risk management and diverse approaches over superficial performance metrics, urging listeners to reconsider their investment strategies.
Jun 18, 2025 • 1h 2min
GM83: The Risk We Forgot to Price ft. Barry Eichengreen
Barry Eichengreen, a renowned Professor of Economic and Political Science at UC Berkeley, dives into the precarious state of the U.S. dollar. He discusses rising debt and domestic fractures that are altering market perceptions. The conversation highlights the challenges facing central bank independence and how credibility, over currency, may become a liability. Eichengreen also draws parallels to historical trade wars, exploring how these lessons apply to current global economic dynamics. The potential rise of digital currencies further complicates this evolving financial landscape.
31 snips
Jun 14, 2025 • 1h 4min
SI352: Trend Systems Under Strain ft. Nick Baltas
Nick Baltas, a systematic investor, dives deep into the intersection of technology and trading challenges. He discusses the overwhelming influence of AI on data and signals, revealing how market reversals are complicating strategy design. The conversation highlights the struggle of adapting volatility targets while maintaining conviction amidst uncertainty. Baltas reflects on the performance of trend-following strategies during volatile markets and the constraints institutional investors face, urging a rethinking of traditional investment practices in an evolving landscape.
