Podcast
TopTradersUnplugged.com
Hosted by TopTradersUnplugged.com · EN
Niels Kaastrup-Larsen | Trend Following Expert | 10-Year+ Podcast with 10M+ Downloads | Talks about Alternative Investments, Hedge Funds, Global Macro, Geo-Politics, Commodities, Quant Investing, Crypto, and Volatility. Join the conversation!
69episodes
Episodes
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IL47: The AI Revolution That Will Redefine What It Means to Be Human ft. Craig Mundie
Mar 2501:00:44Tap to summarizeIn today’s episode we talk to Craig Mundie, formerly the Chief Technical Officer at Microsoft and a leading advocate for responsible development of artificial intelligence. He joins Kevin Coldiron to discuss his book, Genesis: Artificial Intelligence, Hope, and the Human Spirit co-authored with Eric Schmidt and Henry Kissinger. Mundie believes the timeline for AI’s impact on the economy is extremely compressed, with dramatic breakthroughs in energy and work happening in the next few years. We also discuss the long-term implications of AI-generated knowledge and solutions that will likely be beyond our understanding. What questions should we ask and what preparations should we make - both individually and collectively as citizens - to prepare this future? IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Kevin on Twitter: @TopTradersLive & @kcold1 And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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SI392: The Hidden Cracks in Systematic Strategies No One Talks About ft. Nick Baltas
Mar 2101:04:55Tap to summarizeMarkets have shifted quickly in 2026, forcing systematic investors to reassess what is signal and what is noise. In this episode, Niels and Nick explore recent drawdowns, volatility in commodities, and how geopolitical shocks ripple through quantitative strategies. They unpack the role of QIS, the evolving structure of energy markets, and why some trends are holding while others fade. The conversation also challenges common assumptions about diversification, model design, and the growing influence of options markets. Rather than reacting to headlines, this episode focuses on how systematic investors interpret changing conditions and adapt without abandoning discipline. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Nick on Twitter: @TopTradersLive & @nbaltas And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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ALO34: Building an Asset Owner Mindset in Modern Pension Investing ft. Dan Mikulskis
Mar 1801:08:10Tap to summarizeIn this episode, Alan Dunne speaks with Dan Mikulskis, CIO of People’s Partnership, about the evolution of large pension funds and what it means to think like an asset owner. Managing over £40 billion for millions of members, Dan explains how scale changes the way portfolios are constructed, managers are selected, and partnerships are built. The conversation explores the balance between passive and active strategies, diversification beyond equities, and the growing role of private markets. Dan also shares insights on governance, investment philosophy, and why humility is essential when making asset allocation decisions in complex global markets. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Alan on Twitter: @TopTradersLive & @alanjdunne And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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SI391: Why Trend Following Works... the Evidence ft. Richard Brennan
Mar 1401:06:52Tap to summarizeWhat if trends in financial markets are not anomalies, but the natural consequence of how markets function? In this episode, Niels and Richard explore the structural foundations of trend following. Drawing on research spanning 68 futures markets across four decades, Richard explains why markets exhibit persistent trends, fat-tailed returns, and volatility clustering. The discussion moves from oil market shocks to deeper questions about feedback loops, participant behavior, and regime shifts in financial markets. The conclusion is striking: trend following does not rely on fragile patterns. It aligns with fundamental structural properties embedded in how markets actually evolve. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Richard on Twitter: @TopTradersLive & @RichB118 And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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ALO33: The Psychology Behind Better Asset Allocation ft. Aoifinn Devitt
Mar 1101:00:00Tap to summarizeIn this episode, Alan Dunne speaks with Aoifinn Devitt about what it really means to build resilient portfolios in a world of shifting regimes and competing narratives. Drawing on experience across pensions, hedge fund advisory, and private wealth, Aoifinn reflects on how institutional lessons translate to individual investors. The conversation explores the role of diversification, the evolving case for private markets, and the limitations of labels such as hedge funds, factors, or alternative assets. Along the way, they discuss the behavioral traps that influence allocators, the challenges of manager selection, and why outcome based investing may offer a clearer framework for navigating uncertain markets. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Alan on Twitter: @TopTradersLive & @alanjdunne And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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SI390: When Narratives Change Faster Than Markets ft. Alan Dunne
Mar 701:10:18Tap to summarizeMarkets can shift direction faster than the narratives used to explain them. In this episode, Niels and Alan unpack the sharp reversal in bond markets, the geopolitical tensions shaping energy prices, and the role of options flows in keeping equity indices pinned despite rising uncertainty beneath the surface. The conversation moves through recent hedge fund industry discussions in Miami, renewed interest in portable alpha and the total portfolio approach, and the growing influence of AI on economic thinking and policy debates. Along the way, they revisit the core role of trend following in portfolios, explaining why its value often appears precisely when traditional allocations struggle most. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to info@toptradersunplugged.com Follow Niels & Alan on Twitter: @TopTradersLive & @alanjdunne And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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UGO10: The Fourth Turning Is Here: How to Trade the Regime Shift ft. Neil Howe
Mar 401:05:25Tap to summarizeCem Karsan sits down with Neil Howe to examine what a true regime shift means for markets and society. Howe argues that we are deep into a Fourth Turning, a generational winter that historically brings institutional fracture, geopolitical strain, and inflation that reshapes debts, assets, and political power. Cem ties that arc to today’s realities: the exhaustion of the 40 year tailwind from falling rates, record valuations meeting refinancing risk, and the uncomfortable truth that 60/40 has failed for long stretches before. They explore the growing divide between capital and labor, the pivot from globalization to industrial policy, and the rising appeal of commodities, cash, and convex hedges in a world where outcomes are less linear. Howe also details how his Fourth Turning ETF reflects that view, pairing thematic equities with real assets and disciplined tail protection. This is a conversation about preparing, not predicting, when history starts to rhyme a little louder. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to info@toptradersunplugged.com Follow Niels & Cem on Twitter: @TopTradersLive & @jam_croissant And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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SI389: The Market Is Pinned, But Risk Is Growing ft. Cem Karsan & Alan Dunne
Feb 2801:02:29Tap to summarizeIn this episode, Alan Dunne and Cem Karsan explore a market that appears calm on the surface yet increasingly unstable underneath. As indices move sideways, they discuss how options flows and structured products are reshaping market behavior, driving rotation rather than direction. From the weakening of former leaders to the rise of defensives, the conversation turns to what these shifts may signal about a broader topping process. They also examine the growing influence of AI narratives, political incentives, and global tensions, not as isolated shocks but as forces building pressure within the system. The result is a discussion about how markets evolve when structure, policy, and sentiment begin to move out of sync. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "The Many Flavors of Trend Following" here: www.toptradersunplugged.com/book Send your questions to info@toptradersunplugged.com Follow Niels & Cem on Twitter: @TopTradersLive & @jam_croissant And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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IL46: The Business Model Trap: Why Short Ideas Start in the Real World ft. Mark Roberts
Feb 2601:02:22Tap to summarizeIn today’s episode we talk to Mark Roberts, founder of Off Wall Street, a legendary provider of short selling research to hedge funds. Seven months before Enron became the biggest bankruptcy in US corporate history, Off Wall Street published a report recommending the shares be sold. The success of this call made Mark and Off Wall Street synonymous with original and rigorous research. We talk to Mark about his unusual personal background, how being a hippie in Berkeley in the 1960s prepared him for identifying overvalued companies two decades later. He explains why questionable accounting and high valuations are the “symptoms, not the disease” and compares today’s markets with those of the Dotcom era. His new book, Off Wall Street How To Win At Short Selling By Betting Against The Crowd was just released in February 2026. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Kevin on Twitter: @TopTradersLive & @kcold1 And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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SI388: Peak Bubble? Why Markets Feel Different in 2026 ft. Mark Rzepczynski & Alan Dunne
Feb 2101:03:19Tap to summarizeToday Alan and Mark step back from the noise to examine a market environment that feels subtly but meaningfully different. From AI euphoria giving way to harder questions, to gold’s steady rise and a surprising divergence between US and emerging market inflation, the conversation centers on rotation, uncertainty, and shifting assumptions about safety. They explore whether Treasuries still anchor portfolios the way they once did, how fiscal pressures could reshape monetary policy, and why regime thinking matters for systematic investors. Beneath it all is a reminder that correlations change, narratives evolve, and adaptability remains the most durable edge in uncertain markets. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here: www.toptradersunplugged.com/Ultimate And you can get a free copy of my latest book "Ten Reasons to Add Trend Following to Your Portfolio" here: www.toptradersunplugged.com/10-reasons-optin Send your questions to info@toptradersunplugged.com Follow Niels & Mark on Twitter: @TopTradersLive & @MRzepczynski And please share this episode with a like-minded friend and leave an honest rating & review on iTunes and Spotify so more people can discover the podcast.
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