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 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.
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.
