This week, we invite special guest Wayne Himelsein onto the show from Logica Capital Advisers, in Los Angeles.  Wayne explains his journey into starting a Hedge Fund, some of the lessons he has learned over the years, and some of the rules that keep him from repeating past mistakes.  He describes why he loves Trend Following, why embracing ‘uncertainty’ can have a positive effect on Trading, and how he typically constructs a portfolio.  We also discuss why Wayne prefers long trades over short trades, how he uses Options, if stop-losses are a good idea, and if volatility has an effect on the size of his positions.
You can download your free guide to Systematic Investing, and subscribe to our mailing list by visiting TopTradersUnplugged.com
Get a free copy of my latest book "The Many Flavors of Trend Following" here.
Send your questions to info@toptradersunplugged.com
Follow Niels, Jerry, Moritz & Wayne on Twitter: @TopTradersLive, @RJparkerjr09, @MoritzSeibert & @WayneHimelsein
And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast.
	
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33 The Systematic Investor Series ft Wayne Himelsein – April 29th, 2019

Step into the fascinating realm of finance and investing with Niels Kaastrup-Larsen and an amazing line-up of co-hosts as your guide. Each week, we engage in captivating conversations with renowned investors, esteemed economists, skilled traders, and visionary thought leaders. Discover the wisdom derived from their journeys, embracing their triumphs and learning from their setbacks. At TTU, we strive to ignite your independent thinking, encouraging you to chart your own path to financial success. Tune in to stay informed and inspired on the ever-evolving landscape of finance and investing. Stay up-to-date with our latest episodes and blogposts at https://toptradersunplugged.com

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Today, Rob Carver joins me to answer questions about MatLab as a backtesting tool, why you should be careful to apply trend following in crypto and what Rob think about seasonality and relative value as strategies. We also dive into why Rob has increased his allocation to trend following and his thought process when building portfolios, how the surging price of cocoa has impacted the trend following industry and much more. ----- EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool ----- 
 Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website. IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book “The Many Flavors of Trend Following” here. Learn more about the Trend Barometer here. Send your questions to info@toptradersunplugged.com And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast. Follow Rob on Twitter. Episode TimeStamps:  01:05 - What has been on our radar recently? 06:15 - Industry performance update 09:54 - Q1, Paul: Where can I learn MatLab? 13:38 - Q2, Byleth: What is Rob's experience with trend in crypto? 20:41 - Q3, Tauras: What are Rob's thoughts on seasonality and relative value as strategies? 26:23 - Are strategies like seasonality convergent? 27:14 - Rob's thoughts on relative value as a strategy 32:00 - Shock! Horror! I've increased my CTA allocation 41:07 - Rob's thought process on portfolio allocation 46:19 - Vol scaling with a nice cup of hot cocoa 57:43 - Path-dependence vs. non-path dependence 59:53 - Final thoughts and a cliff hanger Copyright © 2023 – CMC AG – All Rights Reserved ---- 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...

SI292: Is Cocoa becoming Too Hot for Trend Followers? ft. Rob Carver

In this episode Peter Oppenheimer, Chief Global Strategist and Head of Macro Research in Europe for Goldman Sachs joins us to discuss his new book Any Happy Returns: Structural Changes and Super Cycles in Markets. Peter believes financial cycles are the primary driver of investor returns. He explains how each cycle consists of four phases with distinct characteristics in terms of returns, earnings growth and valuations. We talk about the structural changes that are creating headwinds for markets in our current super-cycle and how AI and the energy transition might help offset them. ----- EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool ----- 
 Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website. IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book “The Many Flavors of Trend Following” here. Learn more about the Trend Barometer here. Send your questions to info@toptradersunplugged.com And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast. Follow Kevin on SubStack & read his Book. Follow Peter on LinkedIn﻿﻿ ﻿& read his book. Episode TimeStamps:  02:07 - Introduction to Peter Oppenheimer 04:59 - What do financial cycles derive from? 07:19 - What drives the cycles? 09:31 - A desynchronisation in the cycles 12:15 - Are we entering an optimism phase? 14:39 - Interpreting the signals 17:38 - Does Peter see room for interest rates to rise? 21:59 - What drives the high corporate profits in GDP? 26:54 - Are companies losing their...

IL25: Any Happy Returns... the Next Super Cycle? ft. Peter Oppenheimer

In this episode, we are joined by Richard Brennan to discuss why now is the time to step up your trend following allocation. Rich challenges Andrew Beer’s conclusion that a 3% allocation to trend following is the sweet spot and explains why he believes the trend following industry should simplify its narrative and quit the fancy “jargon”. We also discuss what defines a trend follower and why we may be losing the incentive to keep improving as trend followers, new research on the impact of crises and much more. ----- EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool ----- 
 Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website. IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book “The Many Flavors of Trend Following” here. Learn more about the Trend Barometer here. Send your questions to info@toptradersunplugged.com And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast. Follow Rich on Twitter. Episode TimeStamps: 02:08 - What has been on our radar recently? 08:33 - Industry performance update 16:02 - What is the optimal allocation to trend following? 24:02 - Do trend followers have fiduciary responsibility? 27:09 - Why is Andrew Beer having trouble with his trend following allocation? 31:30 - Are we moving too far away from the classic trend following? 37:21 - What does it take to call yourself a trend follower? 42:01 - Discussing Corey Hoffstein's approach 46:44 - What about the fees? 50:34 - Are we losing the incentive to improve? 58:45 - The impact of crises 01:07:11 - Sign up for our new newsletter 01:08:26 - What is up for next week? Copyright © 2023 – CMC AG – All Rights Reserved ---- PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey: 1. eBooks that cover key topics

SI291: Trend Following...What should it mean to Investors? ft. Richard Brennan

Today, we are delighted to be joined by Anthony Todd, Co-Founder & CEO of Aspect Capital, for an insightful discussion on the role of systematic trading and trend following in today’s economy. We also discuss what has driven Aspect Capital’s shift towards developing multiple strategies and how they guide their clients to make better investment decisions, whether the trend following industry should be concerned about replication strategies and how allocations are funded today. Lastly, we discuss how Aspect Capital uses AI in their work and how systematic trading has changed as a whole with the rise of AI, what Todd is most excited and concerned about in 2024 and much more.  ----- EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool ----- 
 Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website. IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book “The Many Flavors of Trend Following” here. Learn more about the Trend Barometer here. Send your questions to info@toptradersunplugged.com And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast. Follow Alan on Twitter. Follow Todd on LinkedIn. Find out more about DUNN Capital Episode Timestamps: 02:24 - Introduction to Anthony Todd and Aspect Capital 05:43 - A global macro perspective 09:45 - How has the industry evolved? 13:51 - Are investors under-allocated to trend? 17:11 - Trend following - a return enhancer? 20:37 - The correlation between stocks and bonds 25:27 - The path to offering multible strategies 29:47 - Balancing choices and guiding clients and investors 33:26 - Are CTAs threatened by replication strategies? 39:11 - How...

TTU146: The value of Unpredictable Alpha ft. Anthony Todd

Today, we are joined by Andrew Beer to discuss why the current surge in Cocoa prices really is a big deal for our industry, but how CTAs have been selling it this year, against many main stream media reports. We also dig into how the strong performance in Q1 2024 is helping Trend Following making its way into more Model Portfolios and the existential crisis that we are seeing in the Model Portfolio world. We explain how the narrative around trend following is changing and why replication strategies are becoming less radical. And we wrap up our conversation touching on what the optimal allocation to trend following should be based on the latest publication from Man Institute, the challenges of dealing with unrealistic expectations in the trend following space and much more. ----- EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool ----- 
 Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website. IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book “The Many Flavors of Trend Following” here. Learn more about the Trend Barometer here. Send your questions to info@toptradersunplugged.com And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast. Follow Andrew on Twitter. Episode TimeStamps:  01:16 - What has been on our radar recently? 05:38 - Industry performance update 06:49 - What is the big deal with Cocoa? 11:49 - What causes the rising Cocoa prices? 13:56 - A fantastic start to the year for trend following 16:58 - Industry performance update continued 18:12 - Q1, Peter: What percentage of your liquid net worth do you have invested in DBMF? 22:05 - What does Q1 2024 mean for CTAs? 30:51 - A period of normalcy 34:02 - A change in the trend following narrative 42:54 - Are replication strategies becoming less radical? 46:22 - Stacking returns - a good or bad idea? 52:35 - Honey, I...

33 The Systematic Investor Series ft Wayne Himelsein – April 29th, 2019

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