As trend followers push through one of the toughest environments in years, Rich and Niels unpack what’s actually driving the pain. They draw a sharp line between two camps in the industry - those who focus on standalone market behavior and those who manage trend as a portfolio-level phenomenon, and explain why that distinction now matters more than ever. From the ripple effects of tariff policy to the quiet fragility in institutional positioning, this episode traces how structural shifts are colliding with legacy assumptions. Also on the table: AI’s growing role in model development, the hidden costs of bad data, and what it really takes to build a resilient, scalable process in a world where noise is cheap and conviction is rare.

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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE

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Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.

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Episode TimeStamps:

00:13 - Introduction to Systematic Investing

03:55 - The Shift Towards AI in Trading

11:25 - The Rise of Idiosyncratic Trend Following Post-2020

21:42 - The Impact of Recent Market Dynamics

25:39 - The Rise of Retail Trading in Futures

34:09 - The Panama Method of Historical Adjustments

42:32 - Understanding Backtesting and Data Integrity in Trading Models

47:36 - Navigating Capital Constraints in Trend Following

55:14 - Understanding AI in Trading Strategies

01:00:14 - The Challenges of AI in Trading and Strategy Development

01:04:44 - The Impact of AI on Humanity

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PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:

1. eBooks that cover key topics that you need to know about

In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here

2. Daily Trend Barometer and Market Score

One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here

3. Other Resources that can help you

And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here

Disclaimer

SI351: The Two Tribes of Trend ft. Richard Brennan

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