Top Traders Unplugged

By Niels Kaastrup-LarsenBusiness News Investing Business News

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Top Traders Unplugged episodes

August 23, 2018RT15: Avoiding unrealistic expectations in Crypto ft. Jennifer Sunu, Arthur Bell & JP Bruynes – 2of2
Today Niels continues his conversation with Jennifer Sunu, who is the director of compliance at the NFA, Arthur Bell, CPA and managing member of Bell Tower LLC, and JP Bruynes, who is a partner at the law firm Akin Gump.
Listen in to today’s episode as we focus on how regulators are helping and sometimes hurting managers and clients, the importance of cyber security as a CTA, the way that cryptocurrencies have changed the way we trade, some of the best things that have happened to managed futures over the last twenty years, and how the market has been affected.
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
The dangers of over-regulation
What we can learn from blow-ups at the manager level and how to avoid them in the future
Why investors need to do their due diligence to avoid fraud
What the NFA considers in reviewing educational and promotional materials
How to ensure your promotional material is meeting NFA guidelines
Why pundits on news shows are allowed to make predictions on markets that may be just an educated guess
The importance of cyber security and how to you can protect yourself
What impact cryptocurrencies may have on futures markets
How regulators are working to help clients avoid unrealistic expectations in cryptocurrencies
The best things that have happened to managed futures in the last twenty years
What has changed regarding the Volcker rule in the past few years
How flat fee products are changing the industry
Why we need to worry about the “race to zero”

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 “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
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.
Learn more about Jennifer Sunu and the National Futures Association
Learn more about Arthur Bell and Bell Tower LLC
Learn more about JP Bruynes and Akin Gump
Copyright © 2025 – 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 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
Privacy Policy
Disclaimer
47 min
August 16, 2018 14 Top Traders Round Table with Jennifer Sunu, Arthur Bell, and JP Bruynes – 1of2
“Today, the rules [and regulations] are much broader, capture far more, but are far less prescriptive; more likely based on general objectives and themes rather than micromanaging exactly how things occur.” - Arthur Bell (Tweet)
Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group. On today's episode our guests are Jennifer Sunu, who is the director of compliance at the NFA, Arthur Bell, CPA and managing member of Bell Tower LLC, and JP Bruynes, who is a partner at the law firm Akin Gump.

Listen in to today's episode as we focus on how the managed futures industry is organized, how it has changed since the industry started, who the key players are and what role do they play, and how regulators keep an eye on all these players to ensure they play fairly.

Subscribe on:

In This Episode, You'll Learn:

What got our guests into managed futures

"Entry [into the CTA field] is easy, but success is very difficult.” - Arthur Bell (Tweet)

The basic structure of the managed futures industry
What role each of the key players have in managed futures
How the different regulatory bodies work together in the US
The different ways that hedge fund management has changed over the last twenty years

“Registration with the CFTC and membership in the NFA is a fairly low barrier to entry [in setting up a CTA], as opposed to firms located in Europe, who may have to register as alternative investment fund managers.” - JP Bruynes (Tweet)

How the industry has evolved over the last forty years
Why our guests believe that investing in managed futures is a good idea
What it takes to set up a CTA today
The importance of understanding your edge as a CTA

“I would only suggest managed futures for a larger portfolio, because you don't want to put all your money into futures.” - Arthur Bell (Tweet)

What first steps a new CTA is going to take in working with regulators
What Jennifer recommends for younger CTA's
The questions new investors should be asking to find the best CTA for them

This episode was sponsored by CME Group:

Connect with our guests:

Learn more about Jennifer Sunu and the National Futures Association

Learn more about Arthur Bell and Bell Tower LLC

Learn more about JP Bruynes and Akin Gump
“Today, things run quite smoothly. There is still the occasional bad apple, and the NFA and CFTC are quite good at ferreting them out.” - Arthur Bell (Tweet)
44 min
August 16, 2018RT14: What it takes to set up a CTA business ft. Jennifer Sunu, Arthur Bell & JP Bruynes – 1of2
On today’s episode Niels Kaastrup-Larsen is joined by Jennifer Sunu, who is the director of compliance at the NFA, Arthur Bell, CPA and managing member of Bell Tower LLC, and JP Bruynes, who is a partner at the law firm Akin Gump.
Listen in to today’s episode as we focus on how the managed futures industry is organized, how it has changed since the industry started, who the key players are and what role do they play, and how regulators keep an eye on all these players to ensure they play fairly.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
What got our guests into managed futures
The basic structure of the managed futures industry
What role each of the key players have in managed futures
How the different regulatory bodies work together in the US
The different ways that hedge fund management has changed over the last twenty years
How the industry has evolved over the last forty years
Why our guests believe that investing in managed futures is a good idea
What it takes to set up a CTA today
The importance of understanding your edge as a CTA
What first steps a new CTA is going to take in working with regulators
What Jennifer recommends for younger CTA’
The questions new investors should be asking to find the best CTA for them

-----

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 “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
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.
Learn more about Jennifer Sunu and the National Futures Association
Learn more about Arthur Bell and Bell Tower LLC
Learn more about JP Bruynes and Akin Gump
Copyright © 2025 – 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 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
Privacy Policy
Disclaimer
44 min
July 09, 2018 105 The Many Flavors of Trend Following with Niels Kaastrup-Larsen of DUNN Capital (Europe)

“As an industry, I think we tend to overcomplicate what trend following really is.” - Niels Kaastrup-Larsen (Tweet)
We're changing things up on today's episode of the podcast: we have with us Frank Conway from the Economic Rockstar Podcast interviewing Niels about trend following strategies, asset allocation, and more. Listen in to find out what changes need to be made in the trend following space, the importance and benefits of your asset allocation when it comes to your investments, and new publications that can take you farther in mastering trend following and managed futures.

Subscribe on:

In This Episode, You'll Learn:

Why Niels has worked hard to keep his explanation of trend following as simple as possible
Why at the end of the day, all investors are trend followers
What really sets one trend follower apart from another

“People overestimate ideas and underestimate execution.” - Niels Kaastrup-Larsen (Tweet)

How trend following techniques have evolved over time
What traits Niels sees in the company he works with as most important in their 40+ year success
The challenges and difficulties of trend following
Why trying to do it yourself in trend following can hurt rather than help
Why successfully executing a trend following strategy is not something that Niels believes everybody can or should do

“Very often, the seduction of safety is often more dangerous than the perception of one's certainty, and I think people need to be aware of that when they decide on their investment strategies.” - Niels Kaastrup-Larsen (Tweet)

Why despite their successes, many trend followers feel an embarrassment in showing their track records
How the right asset allocation can build safer and better performing portfolios
Why it's important to have "skin in the game" as an investment manager
The importance of COI versus ROI
What Niels thinks of cryptocurrencies and how it relates to trend following

“You don't need to be perfect to get started with trend following; you really just need to get started.” - Niels Kaastrup-Larsen (Tweet)

Why DUNN Capital trades the VIX and its importance in their portfolio
What inspired Niels to write his recent books on trend following and managed futures
The purpose behind Niels outreach, whether it's podcasts, books, newsletters, or anything else
What Niels hopes people will get out of his books

Connect with our guest:
Learn more about Niels Kaastrup-Larsen and DUNN Capital

Download your own FREE copy of Niels' new book with Hari Krishnan, "The Many Flavors of Trend Following"

Find out more about Niels' new publication with Katy Kaminski, "How To Master Managed Futures"
“I truly believe [trend following] is the most dependable and consistent investment strategy.” - Niels Kaastrup-Larsen (Tweet)
1 hr 14 min
July 09, 2018TTU105: The Many Flavors of Trend Following ft. Niels Kaastrup-Larsen of DUNN Capital (Europe)
We’re changing things up on today’s episode of the podcast: we have with us Frank Conway from the Economic Rockstar Podcast interviewing Niels about trend following strategies, asset allocation, and more. Listen in to find out what changes need to be made in the trend following space, the importance and benefits of your asset allocation when it comes to your investments, and new publications that can take you farther in mastering trend following and managed futures.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
Why Niels has worked hard to keep his explanation of trend following as simple as possible
Why at the end of the day, all investors are trend followers
What really sets one trend follower apart from another
How trend following techniques have evolved over time
What traits Niels sees in the company he works with as most important in their 40+ year success
The challenges and difficulties of trend following
Why trying to do it yourself in trend following can hurt rather than help
Why successfully executing a trend following strategy is not something that Niels believes everybody can or should do
Why despite their successes, many trend followers feel an embarrassment in showing their track records
How the right asset allocation can build safer and better performing portfolios
Why it’s important to have “skin in the game” as an investment manager
The importance of COI versus ROI
What Niels thinks of cryptocurrencies and how it relates to trend following
Why DUNN Capital trades the VIX and its importance in their portfolio
What inspired Niels to write his recent books on trend following and managed futures
The purpose behind Niels outreach, whether it’s podcasts, books, newsletters, or anything else
What Niels hopes people will get out of his books

-----

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 “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
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.
Copyright © 2025 – 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 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
Privacy Policy
Disclaimer
1 hr 14 min
June 21, 2018 104 The Passive and The Active Investor with Harold de Boer of Transtrend – 2of2
“Are you invested in something that, whatever is going to happen, you can say, ‘okay, I’m invested in that for a good reason and I know that’s why i have it’?” - Harold de Boer (Tweet)
Katy Kaminski and I continue our conversation with Harold de Boer, and discuss his philosophy behind pure trend and divergent trading, as well as why Harold believes Transtrend is unique in the managed future space. In this episode, we talk about the benefits of synthetic trading, Harold's advice to a new rising star, and what he is looking forward to going forward.
Thanks for listening and please welcome our guest Harold de Boer.

Subscribe on:

In This Episode, You'll Learn:

How Harold views pure trend and divergent trading within Transtrend

“Pure trend, somehow the meaning of the term has changed.” - Harold de Boer (Tweet)

What pure trend means today in comparison to what it used to mean
What it means to Harold to serve his clients best through his trading
How trading synthetic markets helps to profit from trends

“I think the ultimate investor should not invest everything in one investment program. You should have different investment styles and you can combine those things.” - Harold de Boer (Tweet)

What Harold thinks is unique about Transtrend’s trading model
The research projects that inspire Harold right now
Why Harold believes it's unrealistic to expect returns without volatility

“This willingness to be ready for the short trend in stocks; synthetics helped in making that possible.” - Harold de Boer (Tweet)

The differences between the passive and active investor
What excites Harold about 2018
The things that scare Harold and keep him up at night
Why risk management should be done by anticipation, not by response

Connect with Transtrend:
Visit the Website: https://www.transtrend.com/
Call Transtrend: +31 10 453 6510
E-Mail Transtrend: [email protected]
Follow Harold de Boer on Linkedin

“As long as the stock markets keep on rising like they did last year, then people will think we don’t need CTA’s.” - Harold de Boer (Tweet)
Full Transcript
The following is a full detailed transcript of this conversion. Click here to subscribe to our mailing list, and get full access to our library of downloadable eBook transcripts!
Harold
…negative alpha and that’s what we strive to do.
Katy
So, Harold, you mentioned a little bit about risk premia, and I thought we’d turn towards trend. I think that this is something… I know, in the past, I’ve heard you talk a lot about how Transtrend is focused on pure trend, and on divergent trading. So, I thought it would be nice if you could give us a glimpse into that philosophy and how you explain that and how that runs through your investment process and the people on your investment team.
Harold
Pure trend - somehow the meaning of the term has changed. I would say we are a pure trend follower because everything that we do is aimed at capturing trends and doing that as maximally as possible. It doesn’t matter where they are. We look at it from a trend perspective, not from a market perspective.
We want to be in the oil trend, and this is there and there. We want to be in the trend that is caused by people buying more things on the internet instead of in old-fashioned shops, OK, you can pick it up there, and you can pick it up there. That’s the kinds of trends we are in. Pure trend, nowadays, has come down to: “We do it with a simple trading rule that is available to everyone. Well, we [at Transtrend] have never used one of the available trading rules… And then we only apply this rule on the most mainstream markets.” That is, what’s nowadays called ‘pure trend’.
So, in that sense,
41 min
June 21, 2018TTU104: The Passive & The Active Investor ft. Harold de Boer of Transtrend – 2of2
Katy Kaminski and I continue our conversation with Harold de Boer, and discuss his philosophy behind pure trend and divergent trading, as well as why Harold believes Transtrend is unique in the managed future space. In this episode, we talk about the benefits of synthetic trading, Harold’s advice to a new rising star, and what he is looking forward to going forward.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
How Harold views pure trend and divergent trading within Transtrend
What pure trend means today in comparison to what it used to mean
What it means to Harold to serve his clients best through his trading
How trading synthetic markets helps to profit from trends
What Harold thinks is unique about Transtrend’s trading model
The research projects that inspire Harold right now
Why Harold believes it’s unrealistic to expect returns without volatility
The differences between the passive and active investor
What excites Harold about 2018
The things that scare Harold and keep him up at night
Why risk management should be done by anticipation, not by response

-----

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 “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
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 Katy on Twitter
Follow Harold de Boer on Linkedin
Copyright © 2025 – 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 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
Privacy Policy
Disclaimer
41 min
June 15, 2018 103 Trading In The Medium-Term Space with Harold de Boer of Transtrend – 1of2
“The project was started with buying computers and getting data. That’s how far they were, so when I came there, they said, ‘we have computers and we have data, we hope you can do something with it’. For a mathematician, that’s a nice way to start.” - Harold de Boer (Tweet)
Harold De Boer is a Managing Director, Member of Management Committee and Member of Board of Directors at Transtrend B.V. Growing up, Harold's interest in statistics grew out of his work at his family's dairy farm, and expanded into the world of trading and managed futures. Listen in to learn about Harold's unique perspective on the industry, his marketing philosophy, and some of the most important lessons he's learned during his successful career.
Thanks for listening and please welcome our guest Harold de Boer.

Subscribe on:

In This Episode, You'll Learn:

How Harold got started with statistics at a young age
Why Harold’s first job as a mathematician was intended to be only temporary
How that first job transformed into Harold’s work at Transtrend

“There is no existing CTA that exists for a long time that will constantly be doing the same thing. ” - Harold de Boer (Tweet)

When the Turtles project was discovered by Transtrend in its early years
How being bought by a larger organization did not affect Transtrend’s operation
Some of Harold’s biggest lessons he has learned

“The 1990’s was when we were slowly developing, but also the 1990’s was a period in which stock markets were rising almost constantly, so outperforming the stock index was almost impossible.” - Harold de Boer (Tweet)

How his time on a dairy farm informs Harold’s approach to trend following
What investors underestimate and don’t understand about managed futures
The only thing that actually drives the market

“I think the best [traders] are the ones who prefer high volatility.” - Harold de Boer (Tweet)

How market dynamics changed as a result of the transition from floor trading to electronic trading
Why Harold believes that Transtrends program should be called "medium-term"
Why Harold believes positive alpha does not actually exist

Connect with Transtrend:
Visit the Website: https://www.transtrend.com/
Call Transtrend: +31 10 453 6510
E-Mail Transtrend: [email protected]
Follow Harold de Boer on Linkedin

“I think there is only one ultimate source of return, and that is risk premia, and you have all different types of risk premia you can profit from in some kind of systematic way.” - Harold de Boer (Tweet)
Full Transcript
The following is a full detailed transcript of this conversion. Click here to subscribe to our mailing list, and get full access to our library of downloadable eBook transcripts!
Niels
Harold, welcome to Top Traders Unplugged. We’re so excited and honored to have you with us today. Both Katy and I have really looked forward to hearing your perspective on many of the issues surrounding our industry and your firm in particular during our conversation. Before we get to all that juicy stuff, perhaps you can start out by telling us a little bit about your background and how you got involved in this industry. Then we might talk a little bit about the history of Transtrend as well.
Harold
I was born on a dairy farm. When I was a kid, I knew all the cows by name including their fathers and their mothers. As a farmer’s son, there’s only one job that you of course want to do and that is to become a farmer as well. My parents have four sons. Only one could do it. Most people thought that I was going to be the one that was going to do it because I knew all the cows.
I liked to look at how genetics works with cows, and why black cows and red cows can combine and when you can get a black one and a red one.
40 min
June 15, 2018TTU103: Trading In The Medium-Term Space ft. Harold de Boer of Transtrend – 1of2
Harold De Boer is a Managing Director, Member of Management Committee and Member of Board of Directors at Transtrend B.V. Growing up, Harold’s interest in statistics grew out of his work at his family’s dairy farm, and expanded into the world of trading and managed futures. Listen in to learn about Harold’s unique perspective on the industry, his marketing philosophy, and some of the most important lessons he’s learned during his successful career.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
How Harold got started with statistics at a young age
Why Harold’s first job as a mathematician was intended to be only temporary
How that first job transformed into Harold’s work at Transtrend
When the Turtles project was discovered by Transtrend in its early years
How being bought by a larger organization did not affect Transtrend’s operation
Some of Harold’s biggest lessons he has learned
How his time on a dairy farm informs Harold’s approach to trend following
What investors underestimate and don’t understand about managed futures
The only thing that actually drives the markets
How market dynamics changed as a result of the transition from floor trading to electronic trading
Why Harold believes that Transtrends program should be called “medium-term”
Why Harold believes positive alpha does not actually exist

-----

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 “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
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 Katy on Twitter
Follow Harold de Boer on Linkedin
Copyright © 2025 – 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 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
Privacy Policy
Disclaimer
40 min
May 24, 2018 102 The State of Institutional Learning of Investing with Nigol Koulajian of Quest Partners – 2of2
“There’s more clarity gained not around the way the markets are, but the way people trade.” - Nigol Koulajian (Tweet)
Katy Kaminski and I continue our conversation with Nigol Koulajian, and discuss if his strategies of working with, around, and doing the opposite of what many investors are doing, has given him any advantages? In this episode, we talk about the risk of research and data affecting the market, why he distrusts in many institutional teachings of finance, and what he is looking forward to this year.
Thanks for listening and please welcome our guest Nigol Koulajian.

Subscribe on:

In This Episode, You'll Learn:

How savvy investors stay ahead of the curve

“The upside of a bubble is it’s easy to convince people to come in.” - Nigol Koulajian (Tweet)

Why you need to isolate yourself from the hivemind of mainstream investors
Why those using smart beta have not succeeded recently
Nigol’s opinion on VIX’s impact in and outside the managed futures industry

“Investing is a very complex process where your perception of the market affects future returns.” - Nigol Koulajian (Tweet)

How Nigol adapts to the changing industry
Why Nigol calls filtering the “holy grail” and how he uses it
The state of institutional and scientific learning of investing

“The reality is markets lead the economy, not the other way around.” - Nigol Koulajian (Tweet)

How research into the markets affects their behavior
What opportunities 2018 brings for Nigol and other investors
Why Nigol believes CTA’s are still very useful for managed futures

Connect with Quest Partners LLC:
Visit the Website: http://www.questpartnersllc.com/
Call Quest Partners LLC: +1 (212) 838 7222
E-Mail Quest Partners LLC: [email protected]
Follow Nigol Koulajian on LinkedIn

“You cannot have a purely rational mind when you’re trading. You need to realize the cycle of emotions that investors are going through.” - Nigol Koulajian (Tweet)
Full Transcript
The following is a full detailed transcript of this conversion. Click here to subscribe to our mailing list, and get full access to our library of downloadable eBook transcripts!
Nigol
…against it, which is what all those mean reversion models that you see today are.
Niels
So I think I agree with you, meaning that I’m just making sure that I fully understand. But, it’s true, and I think it’s true as well in the trend following space that those firms who really find something unique to do, they could be called a trend follower if they do something unique. We see that there are a few of them that have delivered good returns as I noticed with the BTop 50 index, which is the twenty biggest firms in the industry.
Since 1990 there have been seven negative years. Six of them have come since 2009. So, yeah, you’re right. The majority don’t seem to be adapting well, but there are people who truly find unique ways of dealing with this. In a sense, I feel that investors are, unfortunately, going for the classical cheap solution, not knowing that they are leaving all the returns for others just because they charge a little bit more. That’s really unfortunate for the end investor.
Nigol
Sure, retail always looses. I don’t think CTAs are going to break that rule. So, the more convincing (in a certain period) that an investment is, the more likely that you’re going to lose money. This is why sophisticated investors, at a certain level, are able to stay ahead of the market and allocate when a strategy is losing as opposed to trying to chase returns. Chasing returns, which feels amazing (and you can have anybody do it), typically is counterproductive.
So, a lot of our brain is designed to chase returns like on a strategy level,
34 min