Join Rich Brennan and Jerry Parker for Episode 10 of Turtle Talk, joined by special guest Cole Wilcox, CIO of Longboard Asset Management.

No Adam this month, but a deep, wide-ranging conversation covering classic trend following, equity outliers, diversification myths, and why individual stocks may offer the cleanest expression of trend.

📊 Battle of the Trend Following Indexes – December 2025 Review

👉 Full report:

📈 What’s Moved the Needle

🎙 Spotlight Conversation – Cole Wilcox (Longboard Asset Management)

Why most stock market returns come from a tiny minority of companies

Why indices dilute trend signals

How trend following stocks differs structurally from futures-based CTAs

Why long-duration trends, not activity, drive compounding

The case for absolute momentum over cross-sectional rotation

A rare, first-principles discussion on outliers, capitalism, and why trend following belongs inside equities.

Learn more about Cole’s work:

📘 Feature Highlight – The Fractals of Finance

The book explores why markets are fractal, why averages mislead, and why trend following works because of structure, not prediction.

👉 Available now on Amazon:

🌐 Episode Resources

Battle of the Trend Following Indexes – December 2025

Longboard Asset Management

The Fractals of Finance (Amazon)

📩 Send questions for future episodes:

Closing Thought

Stay systematic. Stay patient. And may the trend be with you.

Join Rich Brennan, Adam Havryliv, and Jerry Parker for a packed end of year episode of Turtle Talk. No guests this time, just the three of us digging into markets, exploring deep structural ideas, and sharing fresh insights from the worlds of trend following, diversification, and outlier hunting. This one is full of charts, data, lived experience, and a few laughs along the way.

In this episode:

📊 Battle of the Trend Following Indexes – October 2025 Review

📈 What’s Moved the Needle

🐢 Extended Turtle Tidbits

💬 Shell Mail (Q&A)

🌐 Episode Resources

As our final episode for 2025, we want to thank every listener, supporter, and fellow trend follower who has joined us this year. From the three of us at Aussie Turtles, we wish you a very happy Christmas and a great New Year. We look forward to seeing you again when Turtle Talk returns in January.

#TurtleTalk #TrendFollowing #OutlierHunter #AussieTurtles #SystematicTrading #JerryParker #CTA #MarketStructure

Join Rich Brennan, Adam Havryliv, and Jerry Parker for another deep dive into the world of systematic trend following. No guests this month – just the three of us exploring markets, myth-busting, and celebrating the launch of our new book The Aussie Turtles Trend Following Guide.

In this episode:

📊 Battle of the Trend Following Indexes – September 2025 Review

📈 What’s Moved the Needle

🔍 MythBusters – Did the Turtles Pyramid?

💡 Feature Spotlight – The Aussie Turtles Trend Following Guide

💬 Shell Mail (Q&A)

🌐 Episode Resources:

Battle of the Trend Following Indexes – September 2025: https://classictrendindex.com

The Aussie Turtles Trend Following Guide (book): https://www.aussieturtles.com

📩 Send your questions for the next episode: https://www.aussieturtles.com/contact

#TrendFollowing #TurtleTalk #SystematicTrading #AussieTurtles #OutlierHunter #JerryParker #Fractals #CTAPerformance #ClassicTrendIndex #VolatilityCompression

Join Rich, Adam, and Jerry as they dive deep into the structures that shape systematic trend following. No guests this month — just the three of us tackling big themes, fresh charts, and audience questions that get right to the heart of Outlier Hunting.

In this episode:

📊 Battle of the Trend Following Indexes – August review: classic trend bounces back, but what lies beneath the numbers?

Are markets fractal and are outliers inevitable?

Expectancy vs Path Dependence – what really matters for survival?

The Cut Back Rule – Jerry explains why it’s essential.

Loose Pants – Jerry’s metaphor for risk and flexibility.

High-Vol Trend Following – unpacking Seeking Alpha’s case for why it might be the most valuable alternative investment.

💌 Shell Mail (Listener Q&A) – Audience questions on diversification sizing, lost decades in trend following, and quantifying fat-tailed events.

🎙️ Plus: Rich defends path dependence, Adam challenges mandate mixing, and Jerry sharpens his myth-busting sword.

📚 Special Announcement:

🌐 Episode resources and reports discussed:

Battle of the Trend Following Indexes – August 2025: https://www.aussieturtles.com/battle-of-the-trend-following-indexes-august-2025/

Fractals, Diversification and the Myth of Dilution: https://atstradingsolutions.com/fractals-diversification-and-the-myth-of-dilution/

Are Markets Fractal? The Case for Maximum Diversification: https://atstradingsolutions.com/are-markets-fractal-the-case-for-maximum-diversification/

Expectancy vs Survival: Why the Outlier Hunter Thinks Differently: https://atstradingsolutions.com/expectancy-vs-survival-why-the-outlier-hunter-thinks-differently/

Beyond Expectancy: Protecting the Path of the Outlier Hunter: https://atstradingsolutions.com/beyond-expectancy-protecting-the-path-of-the-outlier-hunter/

High-Vol Trend Following – Most Valuable Alternative Investment: https://seekingalpha.com/article/4823294-high-vol-trend-following-most-valuable-alternative-investment

📩 Got questions for the pod? Send them in:

#TrendFollowing #TurtleTalk #SystematicTrading #AussieTurtles #OutlierHunter #Fractals #JerryParker #Expectancy #CTAperformance

This month’s Turtle Talk is a little different — Rich and Adam join Jerry Parker at his New York getaway for a face-to-face deep dive into the philosophy and practice of outlier hunting. Recorded on Labor Day, the trio reflect on market adventures, harbor cruises, and the heart of classic trend following.

In this special episode, we skip the usual segments and go straight to the foundations:

🌍 Maximum Diversification – why spreading the net across hundreds of markets is essential for catching rare outliers.

📉 Volatility vs. Lifting Power – compounding drag, step-ups in equity curves, and why chasing smoothness can backfire.

🎯 Closed Trade Equity & Weak Compounding – why conservative sizing preserves robustness and avoids randomness.

🔍 Dynamic Position Sizing Debate – why selling into strength risks type-two errors and dilutes true outlier returns.

🐂 The Cattle Year – feeder cattle, cocoa, and how small markets often deliver oversized contributions.

💬 Classic vs. Modern Trend – Buffett, Munger, and the tension between concentrated conviction and wide diversification.

🎙️ Expect candid debate, laughs, and plenty of lessons as the Aussie Turtles and Jerry unpack what it really means to maximize CAGR through pure outlier hunting

📚 Coming Soon: The Aussie Turtles® Trend Following Guide – philosophy, process, and practice in one volume.

Join Rich, Adam and Jerry — this month joined by two special guests from the deep south — Bruno Campos (Brazil) and Andrés Petrocelli (Argentina) — as we explore the recovery phase in trend following and what sets outlier hunters apart from the rest.

Note: Due to connection issues, Andrés was only able to join us for the introduction of the session. We look forward to having him back in a future episode for the full conversation.

Bruno, a macroeconomist turned systematic investor, shares his journey from economic models to embracing uncertainty. We dig into the June trend following reports, challenge assumptions about diversification, and reflect on how outlier strategies diverge from vol-controlled approaches.

In this episode:

📉 Battle of the Trend Following Indexes: June saw a bounce across the board — but will the recovery be V-shaped?

🎙️ Plus: Adam questions mixed mandates, Rich defends idiosyncratic exposure, and Jerry plots his next myth to slay.

📚 Coming Soon:

📩 Got questions for the pod? Send them in:

🌐 Catch episode details and more at:

📊 Reports discussed:

#TrendFollowing #TurtleTalk #SystematicTrading #AussieTurtles #OutlierHunter #ClassicTrend #JerryParker #BrunoCampos #AndresPetrocelli #MomentumEdge #QuantInvesting

In Episode 004 of Turtle Talk, Rich, Adam and Jerry are joined by evidence-based investor Dr. Kevin Maki for a sharp, data-driven conversation on trend following from the investor’s seat. They dive into drawdowns, model robustness, and the overlooked edge of momentum quality, all through the lens of disciplined, statistical thinking.

In Episode 003 of Turtle Talk, Rich, Adam, and Jerry are joined by trend tactician Moritz Seibert for a wide-ranging, no-filter discussion on navigating drawdowns, unleashing outliers, and staying true to the classic trend code.

In Episode 002 of Turtle Talk, Rich, Adam, and Jerry are joined by trend-following legend Salem Abraham for a no-holds-barred conversation about thriving in turbulent markets. 

In the debut episode of Turtle Talk, Rich, Adam, and trend-following legend Jerry Parker dive into the raw, unfiltered world of Classic Trend Following. They break down the latest trend-following index battle, spotlight rising stars, debunk common myths, and explain why chasing outliers—not smoothing returns—is the key to long-term success. No overlays, no shortcuts—just pure trend addiction!