Top Traders Unplugged

By Niels Kaastrup-LarsenBusiness News Investing Business News

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Top Traders Unplugged episodes

April 07, 2019 SI30: Should you adjust your position size based on recent volatility?
Is it wise to adjust position-size according to recent volatility? Can back-testing a Trend Following strategy end up as just being a form of curve-fitting? We discuss the merits of Long-Term evidence over Recency Bias, the importance of Sharpe Ratios, the significance of price gaps, and whether leverage is a necessity for all CTAs. You will hear our thoughts on the idea of risking 1% per trade and how diversification affects this, the pros and cons of a crowded Trend Following market, and we touch on the topic of whether or not a trade can be held for too long.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----

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.
Episode TimeStamps:
00:00 – Intro
01:45 – Review of last week’s episode with Jesse Felder
06:45 – Weekly review of performance
11:00 – Top tweets
32:20 – Question 1: John; Are you always fully invested?
41:00 – Question 2: John; Across all trades, how much total risk is there in a TF system?
46:30 – Questions 3/4/5/6: Woody; What are the pros and cons of using managed futures in ETFs vs mutual funds vs other vehicles? Will liquid alts suffer from a big bank crisis? Do you need leverage and concentrated positions to get the benefits of managed futures? Is there a disadvantage of using ‘blue chip’ managed futures mutual funds?
01:07:30 – Question 7: Brian; Why do investors use Sharpe ratios?
01:15:50 – Question 8: Sam; What are your thoughts on price gaps?
01:19:30 – Questions 9/10: Andrew; Do you use Trend Following signals to manage your cash positions? How does DUNN use swaps in relation to fees?
01:26:50 – Question 11: Sam; Is there a time period that is too long-term for a trade?
01:31:00 – Benchmark performance update
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 35 min
April 04, 2019 Best of TTU – Why Trend Following Is Not A Black Box
Often, a Trend following strategy is described as being a 'Black Box', as if something bad was going on. So it was refreshing to hear Scott Foster talk about Trend Following as being in fact, a 'White Box', or a 'Transparent Box', in comparison to other algorithmic strategies, which are often embraced by investors to a much larger degree... so I’m delighted to share this blog post with you, from a conversation I had with Scott Foster, where he also touched on the essential question: Why are there trends, and why ought there be trends in the future?If you would like to listen to the full conversation just go to Top Traders Unplugged Episode 27 and Episode 28.
Will Trends Always Exist In The Market?
Niels: But that was a very important explanation and it ties into so many other things and want to go further than this but I want to actually ask you a question that actually doesn't relate to short-term trading, but it's my kind of trying to understand what it is you are saying and putting it into a slightly different perspective and that relates to more generally speaking about trend following because, obviously, as we know, you mentioned 1994 and I remember seeing all the great guys sitting lined up at a conference in Chicago and talking about a very difficult period, but they were convinced that this was just a difficult period and things would come back. But let me ask you this, trends in markets in general, not necessarily short term, but just generally, is that kind of based on universal truth, because at the end of the day trends reflect human behavior and human behavior will never change, and what we are seeing now then, where perhaps there have been a lack of trends for a period of time is just part of a normal cycle.

Scott: Absolutely. I often express my- I won't say unhappiness, but, I think trend followers could do a much better job of explaining what they're doing. Everybody seems to want to be a scientist. There's nothing wrong with that it's just that...I gave a talk a few years ago in Monaco on this about the difference between what we would call black box and what I would call white box. I was trying to make a differentiation between some forms of systematic trading and some forms of systematic/algorithmic trading and the fact that the best majority of people outside, they're in the alternative industry and won't invest in systematic strategy because they don't feel like they have the expertise to understand them or the mathematical skills to, and I was trying to make a case that, well, as it pertains to the vast majority of managed futures, they're not black box, and the reason being is what are they going after? I tried to make a case that they're going after a universal. When you ask a trend follower why do you make money? If they start talking about formulas and all of this type of stuff, the question is (really the only way they can make money is if there are trends)...the question is why are there trends and why ought there to be trends in the future? A trend follower asked, how are you going to make money in the future? I think they should respond because trends cannot not exist.

'If a Trend Follower is asked, how are you going to make money in the future? I think they should respond: 'because Trends cannot not exist.''

What exactly in particular does that mean? Well, it's what you said, it's the fact that at least in a free society, markets exist to create efficiencies for the greater good and if the price of wheat...if we start running out of wheat, the price has to go higher...it has to ration the remaining supply, it has to ration the remaining demand, it has to increase the supply. It has to incentivize people to plant more wheat because we are running out of it and if we didn't have... futures markets were created for that purpose, and without them the prices of food would be fluctuating all over the place. At the end of the day,
15 min
April 04, 2019 BO15: Why Trend Following is Not a Black Box
Often, a Trend following strategy is described as being a ‘Black Box’, as if something bad was going on. So it was refreshing to hear Scott Foster talk about Trend Following as being in fact, a ‘White Box’, or a ‘Transparent Box’, in comparison to other algorithmic strategies, which are often embraced by investors to a much larger degree… so I’m delighted to share this blog post with you, from a conversation I had with Scott Foster, where he also touched on the essential question: Why are there trends, and why ought there be trends in the future?
Listen to the full episode here. Part 1 & Part 2.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----

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
15 min
March 31, 2019 29 The Systematic Investor Series ft Jesse Felder – March 31st, 2019
In this episode, we’re joined by special guest, Jesse Felder, from The Felder Report & the SuperInvestor Podcast. Jesse describes his journey into the markets, if he uses Trend Following strategies in his portfolio, why he thinks we’re in a Bear Market, and in the middle of a major ‘topping process’, what he thinks about Passive Investing, his go-to timing tools, and if Value Investing can be applied to non-equity markets such as Gold. We also ask Jesse: does he use the VIX index for hedging? What is a normal day is like for him? Jesse tells us why he considers Trend Following a good forecasting tool, gives us his thoughts on predicting versus reacting to price moves, and also lets us know what he’s currently reading.
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 [email protected]
Follow Niels, Jerry & Moritz on Twitter: @TopTradersLive, @RJparkerjr09 & @MoritzSeibert
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.

Episode Summary
0:00 - Intro
1:50 - Weekly review
5:20 - Jesse reviews his background/influences
8:00 - Jesse describes his process
12:45 - Question from Francois: Would Jesse discuss his view we’re in/entering a bear market?
19:30 - Jerry asks Jesse’s opinion on passive indexing
25:40 - Niels asks how float reduction impacts passive investing
28:00 - Jerry asks if ZIRP impacts valuation-based investing
30:10 - Niels asks Jesse how a transition to an inflationary environment will impact investing
34:40 - Moritz asks if/how Jesse applies the value approach to all asset classes
36:50 - Moritz asks if Jesse trades the VIX or otherwise hedges tails
Book reference: The Tao of Capital by Spitznagel
40:10 - Jerry asks Jesse’s thoughts on TF as a tool benefitting diversification
42:00 - Jerry asks Jesse’s opinion on the market not broadly recognizing the evidence supporting Trend Following
47:20 - Jerry/Jesse/Niels discuss forecasting and TF
50:00 - Question from George: Why is knowing what’s happening fundamentally better than just responding to price (i.e. trend following)?
56:20 - Niels asks Jesse’s view on Tesla
1:00:20 - Moritz asks how Jesse spends a typical day
1:01:30 - Niels asks what Jesse is reading now
1:03:20 - Moritz asks about Jesse’s interests/hobbies
1:04:40 - Niels asks about following Buffett/Munger and shifts in markets today
1:08:45 - Niels asks if Jesse applies analog analysis to markets
1:11:50 - Niels asks Jesse’s recommendations on things to read/listen to to learn about investing
1:14:00 - Performance recap
Subscribe on:
1 hr 18 min
March 30, 2019 SI29: Can Value Investing be applied to Gold? and Trend Following as a forecasting tool ft. Jesse Felder
In this episode, we’re joined by special guest, Jesse Felder, from The Felder Report & the SuperInvestor Podcast. Jesse describes his journey into the markets, if he uses Trend Following strategies in his portfolio, why he thinks we’re in a Bear Market, and in the middle of a major ‘topping process’, what he thinks about Passive Investing, his go-to timing tools, and if Value Investing can be applied to non-equity markets such as Gold. We also ask Jesse: does he use the VIX index for hedging? What is a normal day is like for him? Jesse tells us why he considers Trend Following a good forecasting tool, gives us his thoughts on predicting versus reacting to price moves, and also lets us know what he’s currently reading.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----

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.
Episode TimeStamps:
00:00 – Intro
01:50 – Weekly review of performance
05:20 – Jesse reviews his background/influences
08:00 – Jesse describes his process
12:45 – Question from Francois: Would Jesse discuss his view we’re in/entering a bear market?
19:30 – Jerry asks Jesse’s opinion on passive indexing
25:40 – Niels asks how float reduction impacts passive investing
28:00 – Jerry asks if ZIRP impacts valuation-based investing
30:10 – Niels asks Jesse how a transition to an inflationary environment will impact investing
34:40 – Moritz asks if/how Jesse applies the value approach to all asset classes
36:50 – Moritz asks if Jesse trades the VIX or otherwise hedges tails
Book reference: The Tao of Capital by Spitznagel
40:10 – Jerry asks Jesse’s thoughts on TF as a tool benefitting diversification
42:00 – Jerry asks Jesse’s opinion on the market not broadly recognizing the evidence supporting Trend Following
47:20 – Jerry/Jesse/Niels discuss forecasting and TF
50:00 – Question from George: Why is knowing what’s happening fundamentally better than just responding to price (i.e. trend following)?
56:20 – Niels asks Jesse’s view on Tesla
01:00:20 – Moritz asks how Jesse spends a typical day
01:01:30 – Niels asks what Jesse is reading now
01:03:20 – Moritz asks about Jesse’s interests/hobbies
01:04:40 – Niels asks about following Buffett/Munger and shifts in markets today
01:08:45 – Niels asks if Jesse applies analog analysis to markets
01:11:50 – Niels asks Jesse’s recommendations on things to read/listen to to learn about investing
01:14:00 – Benchmark performance update
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 18 min
March 27, 2019 23 Top Traders Round Table with Chris Cole, Matthew Sargaison, and Dan Stone – 2of2

"This is where the populism intercedes with the market risks. I think people look at these risks as independent risks, so they're not looking at them and how they interrelate with the ecosystem of financial products, as well." - Chris Cole (Tweet)
Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group and the Managed Funds Association, where guest host Chris Solarz continues his conversation with Chris Cole, the Founder and CIO of Artemis Capital Management, Matthew Sargaison, co-CEO of MAN AHL at Man Group, and Dan Stone, co-founder of Ionic Capital. Our guests today go over the changing markets and why despite trend following's recent underperformance, their clients still look to it as protection for their portfolio. They will also continue their discussion on the intersection of populism, politics, and quantitative easing, as well as the relationship between corporate debt and GDP and its long term trends.

Subscribe on:

In This Episode, You'll Learn:

How the recent quantitative easing could be moving into quantitative tightening, and what that means for investors
The intersection of populism, politics, and quantitative easing
How opportunities in the markets are changing managers behavior

"I think big institutions are so hedge fatigued, that they don't want to pay up for volatility of volatility. They are essentially saying, 'why do I need to buy fire insurance when the FED will put out my fire for me?'." - Chris Cole (Tweet)

Why Matthew is happy with the current market environment
Which asset classes currently offer a cheap volatility
What the recent huge spikes in VIX meant for long vol and short vol traders

"Is there a strategy out there that still gives you a positive expectation but has a meaningful negative correlation? Because it's so hard to find negative correlation in the hedge fund world or in the investment world more broadly right now." - Dan Stone (Tweet)

Who in the investing space is looking for the protection of hedging for their portfolio
Why trend following is still successful despite it's recent difficulties in the market
The meaning of the recent change of Growth outperforming Value

This episode was sponsored by CME Group and Managed Funds Association:

Connect with our guests:
Learn more about Chris Cole and Artemis Capital Management

Learn more about Matthew Sargaison and Man AHL

Learn more about Dan Stone and Ionic Capital
"It's going to be a wonderful time to make opportunity from change, as opposed to the last 10 years, which has been trying to squeeze juice out of a short vol trade." - Chris Cole (Tweet)
30 min
March 27, 2019RT23: Populism and Market Risks ft. Chris Cole, Matthew Sargaison & Dan Stone – 2of2
Today guest host Chris Solarz continues his conversation with Chris Cole, the Founder and CIO of Artemis Capital Management, Matthew Sargaison, co-CEO at AHL at Man Investments, and Dan Stone, co-founder of Ionic Capital. Our guests today go over the changing markets and why despite trend following’s recent underperformance, their clients still look to it as protection for their portfolio. They will also continue their discussion on the intersection of populism, politics, and quantitative easing, as well as the relationship between corporate debt and GDP and its long term trends.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
How the recent quantitative easing could be moving into quantitative tightening, and what that means for investors
The intersection of populism, politics, and quantitative easing
How opportunities in the markets are changing managers behavior
Why Matthew is happy with the current market environment
Which asset classes currently offer a cheap volatility
What the recent huge spikes in VIX meant for long vol and short vol traders
Who in the investing space is looking for the protection of hedging for their portfolio
Why trend following is still successful despite it’s recent difficulties in the market
The meaning of the recent change of Growth outperforming Value

-----

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 Chris Cole and Artemis Capital Management
Learn more about Matthew Sargaison and Man AHL
Learn more about Dan Stone and Ionic Capital
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
30 min
March 24, 2019 28 The Systematic Investor Series – March 25th, 2019
On today’s show, we give our thoughts on ‘Evidence-Based Investing’, David Harding’s latest comments on Trend Following, how much is too much ‘Open Risk’, as well as answering: what are some of the ‘Trend Commandments’? Also, we discuss whether it’s safe or not to buy after a big upside price break or sell after a big gap down, whether Volatility should be ‘targeted’ in your portfolio, and if a system can be designed handle 'parabolic moves' better.
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 [email protected]
Follow Niels, Jerry & Moritz on Twitter: @TopTradersLive, @RJparkerjr09 & @MoritzSeibert
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.

Episode Summary
0:00 - Intro
2:00 - Weekly review
6:30 - Top tweets
34:40 - Question 1: Michael; Have any of you backtested 2009 trades onward with one size fits all position sizing?
47:15 - Question 2: Dave; What represents too much open risk as a percentage of AUM?
56:55 - Question 3: Brian; How does a Trend Following system trade a parabolic market?
1:06:15 - Question 4: George; What are the commandments of Trend Following you reference in earlier episodes?
1:10:00 - Question 5: George; Could Moritz discuss why he dislikes a simple Trend Following system on just the S&P 500 when Meb Faber’s research shows it is effective.
1:12:40 - Question 6: George; Is Jerry’s infrequent overall risk reduction built into his system?
1:15:10 - Question 7: George; Most Trend Followers use stops, why doesn’t DUNN?
1:19:10 - Performance recap

Subscribe on:
1 hr 23 min
March 24, 2019 SI28: Investing based on the "Evidence" and what are the Trend Commandments?
On today’s show, we give our thoughts on ‘Evidence-Based Investing’, David Harding’s latest comments on Trend Following, how much is too much ‘Open Risk’, as well as answering: what are some of the ‘Trend Commandments’? Also, we discuss whether it’s safe or not to buy after a big upside price break or sell after a big gap down, whether Volatility should be ‘targeted’ in your portfolio, and if a system can be designed handle ‘parabolic moves’ better.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----

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.
Episode TimeStamps:
00:00 – Intro
02:00 – Weekly review of performance
06:30 – Top tweets
34:40 – Question 1: Michael; Have any of you backtested 2009 trades onward with one size fits all position sizing?
47:15 – Question 2: Dave; What represents too much open risk as a percentage of AUM?
56:55 – Question 3: Brian; How does a Trend Following system trade a parabolic market?
01:06:15 – Question 4: George; What are the commandments of Trend Following you reference in earlier episodes?
01:10:00 – Question 5: George; Could Moritz discuss why he dislikes a simple Trend Following system on just the S&P 500 when Meb Faber’s research shows it is effective.
01:12:40 – Question 6: George; Is Jerry’s infrequent overall risk reduction built into his system?
01:15:10 – Question 7: George; Most Trend Followers use stops, why doesn’t DUNN?
01:19:10 – Benchmark performance update
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 23 min
March 20, 2019 22 Top Traders Round Table with Chris Cole, Matthew Sargaison, and Dan Stone – 1of2

"I think the idea is that the math of quantitative easing really matters. It's all about the shift at the margin." - Dan Stone (Tweet)
Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group and the Managed Funds Association. On today's episode, which took place at the MFA's Network 2019 conference in Miami, guest host Chris Solarz speaks with Chris Cole, founder and CIO of Artemis Capital Management, Matthew Sargaison, co-CEO of MAN AHL at Man Group, and Dan Stone, co-founder of Ionic Capital. With these three world class volatility experts on the show, we'll be going deep into the current state of volatility, the ramifications of United States quantitative easing, as well as the economic effects on the market of various social movements around the world.

Subscribe on:

In This Episode, You'll Learn:

How our guests got interested in the financial industry and data analytics
The state of the market now and where it is headed in the future
Why Dan sees the Quantitative Easing and its effect on market changes hurting long-term volatility

"I think this period where we've had excessively low volatility driven by central bank quantitative easing and expansion of the monetary base has resulted in a build up in many of these strategies, and presents both an opportunity and a risk to the system." - Matthew Sargaison (Tweet)

The hidden risks to the markets from the rise of populism
Dan's "top five longball macro themes" and what we can learn from them
Where Matthew sees opportunities in volatility today

"What's the biggest risk to markets? It's if markets get the sense that central banks have lost control." - Dan Stone (Tweet)

What it has been like as a long-vol trader for the last ten years, when you are up against the World's Central Banks
Why you don't have to put your "end-of-the-world" hat on...just yet

This episode was sponsored by CME Group and Managed Funds Association:

Connect with our guests:
Learn more about Chris Cole and Artemis Capital Management

Learn more about Matthew Sargaison and Man AHL

Learn more about Dan Stone and Ionic Capital
"You do not create 15 trillion dollars out of thin air supporting the longest bull market in history and expect to wind that back without some disruption in risk assets. That is the dominant macro theme going forward." - Chris Cole (Tweet)
31 min