Top Traders Unplugged

What if the biggest risk in markets today isn’t volatility, inflation, or geopolitics - but the stories we believe to be true? In this unfiltered and thought-provoking episode, Demetri Kofinas joins Cem Karsan and Niels Kaastrup-Larsen for a piercing conversation that challenges how we process information, construct narratives, and make decisions in uncertain environments. This isn’t about market forecasts - it’s about how easily o...

This episode is all about understanding the nuances of trend-following and how current market dynamics are shaking things up. Together with Rob Carver, we discuss the turbulence that hit financial markets in April and how that affected Trend Followers, as well as how Rob navigated the last 12 months as a trend follower. Plus, we explore the intriguing topic of safe haven assets, questioning if traditional choices like U.S. treasury...

What if the most dangerous thing in the global economy isn’t a shock — but the quiet collapse of the frameworks we still rely on?

In this rare, unfiltered conversation, Kenneth Rogoff — Harvard professor and former IMF Chief Economist — joins Kevin Coldiron to confront the reality that’s too uncomfortable for most policymakers to admit:

The world has changed. The models haven’t.

This episode is all about exploring the intricacies of market behavior, how trends shift, and what that means for our investment strategies. We’re having a serious chat about the impact of recent market fluctuations and how they influence our approaches to trend following. Together with Nick Baltas, we’ll touch on the dynamics of crowding in trades and how that shapes investor sentiment. So, grab your headphones and get ready for a...

Today, we're diving deep into the world of commodities with Calculo Capital, a short-term quantitative hedge fund based in Denmark. Our guests, Philip Engel Carlsson and Ole Hansen, share their insights on how they navigate the fast-paced commodity markets using machine learning techniques. We explore how their focus on liquid markets and short holding periods allows them to capitalize on price movements driven by supply and demand...

In this episode, we explore the current market dynamics and discuss Katy Kaminski's latest research paper on crisis and correction alpha, which provides insights into how CTA strategies are navigating turbulent times. We also touch on the importance of understanding how trends shift and the implications for various asset classes. From examining the impact of correlation and volatility in risk management to discussing the nuances of...

Discover how to navigate the complexities of personal and professional decisions through the lens of behavioral economics. Kevin Coldiron speaks with Daryl Fairweather, Chief Economist at Redfin and author of the book "Hate the Game," who shares insights on using economic principles to tackle everyday challenges, from negotiating salaries to understanding workplace dynamics. They explore the importance of empathy and perspective-ta...

Together with Yoav Git, we’ll explore how market conditions are shifting and what that means for investors, especially in light of recent bond market movements. It’s been a wild ride lately, with unexpected changes in correlations between stocks and bonds, and we’re here to break it all down. We’ll also touch on the implications for trend-following strategies and how they can adapt in these turbulent times. So, whether you’re a sea...

Today, we’re diving into the world of portable alpha and how it can really shake up your investment game. Alan Dunne and I are chatting with Razvan Remsing from Aspect Capital, who shares that this concept isn’t new but is gaining traction again as allocators look for ways to make their portfolios work harder. With everything going on in the markets, it’s essential to think about how different strategies can fit together, especiall...

Together with Richard Brennan, we’ll explore how current market uncertainties are shaping investor sentiment and prompting a massive shift in how we think about financial systems. As we navigate through some heavy topics, we also touch on the importance of maintaining a disciplined approach in a world where noise can easily drown out the signals. Expect insights on the evolving landscape of trading, where we emphasize the necessity...

In the premiere of U Got Options, Cem Karsan is joined by Mike Green for an unfiltered, high-conviction conversation straight from the floor of the CBOE. Together, they dive deep into the explosive growth of 0DTE options - now driving over 60% of S&P volume - and unpack how this shift is quietly rewiring market reflexivity, volatility dynamics, and the path of dispersion. With stories from the pits and sharp macro takeaways, th...

Alan Dunne and Mark Rzepczynski tackle the current market vibes, focusing on how factors like the 200-day moving average can shift market sentiment and affect portfolio strategies. As they navigate through the choppy waters of market performance, they discuss the importance of understanding uncertainty versus risk and how it impacts decision-making for both individual investors and managers alike. There’s also an exploration of how...

Our guest on this episode is Leah Downey, Junior Research Fellow at St. John’s College Cambridge and author of the new book Our Money: Monetary Policy as If Democracy Matters. Independent central banks are thought to be necessary to prevent politicians using monetary policy to influence elections and to avoid dangerously high levels of inflation. Is this really correct? Is it really healthy for a democracy to allocate so much power...

In today’s episode, Alan Dunne and I take a step back - and a step forward - by exploring 125 years of hard-earned market wisdom, courtesy of the Global Investment Returns Yearbook, the definitive source of long-term asset class performance. What does this rich dataset tell us about equities, bonds, diversification, and the underrated role of patience in investing? And how relevant are these lessons for investors navigating today’s...

Today, we’re diving deep into the world of CTAs and their role in investment portfolios. We discuss the balance between focusing on a single asset class versus a multi-asset approach, emphasizing that different asset classes offer unique utilities to investors. Our guests share insights from their experiences, highlighting the importance of tailored execution strategies and how technology can enhance trading performance. We also ex...

Andrew Beer and Tom Wrobel joins us to talk about the current state of global markets and the pivotal changes affecting our industry. We’re all feeling the shift in dynamics, and we’re here to unpack how that impacts our investing approaches. From the rise of new ETFs to the ongoing debate about the future of managed futures, we’ll cover it all. So grab your headphones and get ready for some straight talk on trends, volatility, and...

Leveraged loans combined with treasuries create a solid strategy for navigating today’s fixed income market. These two asset classes work like a peanut butter and jelly sandwich, balancing each other out—leveraged loans shine when interest rates rise, while treasuries thrive when rates drop. In our chat today with David Giroux, portfolio manager at T. Rowe Price, we dive into how this mix helps manage risk and enhance returns in u...

Together with Cem Karsan, we take a serious look at how the shifting political landscape and economic pressures are impacting global markets. We discuss the implications of a potential (engineered) recession and what it means for various asset classes, especially in relation to current U.S. policies. With the conversation turning to Europe, we analyze the region's military rearmament and its potential effects on the global balance ...

Today Cem Karsan and I are diving into a pretty intense topic today: the looming potential for a monetary regime change that feels like it's right around the corner. We're talking to Adam Rozencwajg about how the shifts in global commodity dynamics, particularly in natural resources like oil and gas, are becoming a lot clearer as supply constraints tighten up. It's all about recognizing the signs, and we believe that the next six t...