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
63 snips
Jun 11, 2025 • 46min
UGO03: This Isn’t 2008. That’s the Problem ft. Benn Eifert
Benn Eifert, CIO and Managing Partner at QVR, offers deep insights into today’s volatility regime. He discusses how market structure influences outcomes more than macroeconomic factors. Eifert highlights the fragmented liquidity and the breakdown of correlations, stressing that the path of market movements is more significant than their magnitude. The conversation dives into the rise of zero-day options and their implications on trading strategies, while also examining the unique dynamics of retail trading and the evolving landscape of financial markets.
42 snips
Jun 7, 2025 • 1h 9min
SI351: The Two Tribes of Trend ft. Richard Brennan
Rich and Niels delve into the choppy waters of trend following, tackling the rift between standalone market behavior and portfolio-level strategies. They discuss how tariff policies and institutional positioning are reshaping assumptions. There's a fascinating look at AI’s growing influence in trading and the hidden costs of poor data. The episode also explores the essential nature of robust backtesting and the pressing need for adequate capital to navigate today's challenging market landscape.
33 snips
Jun 4, 2025 • 1h 7min
OI16: Return Stacking: Form, Function & Friction ft. Corey Hoffstein and Adam Butler
Corey Hoffstein, co-founder of Return Stack Portfolio Solutions and a pioneer in quantitative investment strategies, and Adam Butler, Chief Investment Officer at Resolve Asset Management, dive into the mechanics of return stacking in ETFs. They reveal how blending top-down and bottom-up strategies can enhance diversification and performance. The duo discusses the pitfalls of mutual funds compared to ETFs, liquidity challenges, and the intricate dynamics of trend-following strategies, unpacking what it truly means to package active strategies for public investment.
19 snips
May 31, 2025 • 1h 5min
SI350: Why All Roads Lead to Higher Yields ft. Alan Dunne
Alan Dunne, an investment professional and insightful writer, joins the conversation to unravel the complexities of today's bond markets. He argues that we're already in a new era of structurally higher yields, driven by high debt levels and evolving economic policies. Dunne highlights how complacency among investors may blind them to the risks of outdated models. The discussion spans Japan's bond signals to America's fiscal discipline, pushing listeners to rethink their strategies in an ever-changing financial landscape.
17 snips
May 28, 2025 • 56min
IL39: Is Trump Making Europe Great Again? ft. Koen De Leus & Philippe Gijsels
Join economists Koen De Leus, Chief Economist at BNP Paribas, and Philippe Gijsels as they dive into how Trump's leadership might stimulate European innovation and independence. They discuss multi-globalization, emphasizing emerging markets like Vietnam in a shifting global trade landscape. The talk delves into the bullish future of copper amid supply challenges and the evolving role of AI in job markets. Listeners will also appreciate insights on Energy Return on Investment and how Europe must respond to geopolitical shifts.
44 snips
May 24, 2025 • 1h 6min
SI349: Navigating the Age of Uncertainty with Trend Following ft. Mark Rzepczynski
In this discussion, Mark Rzepczynski, a macro insights expert and market analyst, examines today's unpredictable financial landscape. He explores the breaking down of traditional market relationships, like the unreliability of bonds amidst political interventions. They delve into the intricate connection between social trust and economic stability, illustrating how cultural trust affects inflation. The conversation highlights the necessity of adapting trend-following strategies to navigate this age of uncertainty, offering listeners valuable insights for risk management.
23 snips
May 21, 2025 • 1h 3min
GM82: The Surprising Success of the U.S. Economy ft. Elroy Dimson & Kiran Ganesh
Elroy Dimson, a finance professor and research director at Cambridge Judge Business School, and Kiran Ganesh, managing director at UBS Global Wealth Management, dive into the surprising resilience of the U.S. economy over the past 25 years. They discuss the significance of diversification amid market volatility, the evolving role of bonds, and the impact of factors like equity risk premium. Their insights also touch on historical downturns and shifting investor sentiment, along with emerging investment strategies that blend traditional assets with newer options like cryptocurrencies.
69 snips
May 17, 2025 • 1h 15min
SI348: The Quiet Cost of Overfitting ft. Andrew Beer
Andrew Beer, a managing member at Dynamic Beta Investments and expert on alternative investments, joins to discuss the challenges facing trend following strategies. He highlights how recent complexities and short-term models may be undermining their effectiveness. The conversation delves into the effects of political volatility and allocator fatigue, advocating for a return to foundational principles rather than chasing innovation. Through engaging anecdotes, Andrew emphasizes the need for resilience in trading amidst a tumultuous market landscape.
58 snips
May 13, 2025 • 1h 4min
UGO02: Inequality, Inflation, and the End of Consensus ft. Jim Bianco
In this conversation, Jim Bianco, an independent macro research expert and founder of Bianco Research, dives into how current volatility may signal a new market era rather than a temporary phase. He discusses the historical roots of inequality, linking labor unrest in 1880s Chicago to today's economic disparities. Bianco emphasizes the challenges posed by rising tariffs and inflation, suggesting that traditional investing strategies may no longer suffice. Listeners are prompted to rethink their financial positioning in this shifting landscape.
49 snips
May 10, 2025 • 1h 8min
SI347: Stagflation, Storytelling, and the Search for a New Hero ft. Cem Karsan
Cem Karsan, a market expert, dives deep into the lurking shifts shaping our economy. He examines the implications of stagflation and the liquidity drain that many overlook. Karsan discusses how elite universities are adapting their financial strategies and the significance of Warren Buffett’s exit in the investment arena. The conversation meanders through the political implications of economic decisions, the role of OPEC, and the responsibility of societies facing crises. Insightful storytelling connects generational narratives to current market dynamics.
