SI133: Volatility Targeting ft. Rob Carver
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 712 Ratings
🗓️ 29 March 2021
⏱️ 81 minutes
🧾️ Download transcript
Summary
Rob Carver joins us today to discuss whether it’s a good idea to adjust your strategy during different periods of volatility, Bitcoin’s expected role as an inflation-hedge, whether commodities are more suited to shorter-term trading than other markets, the NFT frenzy & its credibility as an investment asset, volume analysis and whether it can be play worthwhile part in a Trend Following system, and why volatility may not be a good measure of risk.
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In this episode, we discuss:
- The case for and against Volatility Targeting
- Whether Bitcoin can offset any risks from a high-inflationary environment
- Whether commodities can be suitable for long-term strategies
- The credibility of NFTs as an asset class
- Volume analysis as a trading signal
- Volatility as a measure of risk
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Episode TimeStamps:
00:00 – Intro
02:24 – Macro recap from Niels
04:17 – Weekly review of performance
31:32 – Q1; Dennis: How can a retail trader with limited capital access the commodity markets?
41:47 - Q2; Dennis: How would you deal with big intraday volatility such as in 2020?
51:02 - Q3; Cat: Is volume analysis overrated?
56:16 - Q4; Gustavo: Why should we be worried about volatility if it is going our way?
01:05:52 - Q5; Emra: How often should you recalibrate your system? Why do you recommend not locking in profits early, after unusually sharp portfolio increases?
01:16:08 – Benchmark performance update
01:12:25 – Recommended listening or reading this week: Howard Marks’ latest memo
01:27:35 – Recommended listening or reading this week: MacroVoices Podcast featuring Juliette Declercq
Copyright © 2025 – CMC AG – All Rights Reserved
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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
Transcript
Click on a timestamp to play from that location
| 0:00.0 | You're about to join Jerry Parker, Maritz Siebert, and Neil's Kostrup Larson on their raw and honest journey into the world of systematic investing and learn about the most dependable and consistent yet often overlooked investment strategy. |
| 0:15.1 | Welcome to the Systematic Investor podcast series. |
| 0:21.9 | Welcome or welcome back to this week's edition of the Systematic Investor series with Robert |
| 0:25.9 | Carver and I, Neil's Kastroh Larsen, where each week we take the pulse of the global market |
| 0:30.8 | through the lens of a rules-based investor. |
| 0:33.6 | If you are new to the show, let me start by saying welcome, with the hope that today's episode |
| 0:38.4 | will trigger your curiosity and hunger for learning, enough to check out the back catalog and |
| 0:44.1 | listen to past episodes that you may have missed, like my conversation last week with Mark, |
| 0:49.5 | where we had quite a wide-ranging conversation from Jerome Powell's recent speech |
| 0:54.5 | and how central banks can often confuse markets |
| 0:57.7 | to the potential of artificial intelligence in systematic investing |
| 1:02.4 | and whether or not holding government bonds is a good idea. |
| 1:05.5 | So I hope you will check out this episode if you missed it. |
| 1:09.9 | Now, as you know, the aim of the podcast is to democratize |
| 1:12.9 | the hedge fund, CTA, or quant investment world, whatever you prefer to call it. And if you want to be |
| 1:18.6 | part of the journey, what we ask of you is to comment if you can share these episodes, if you can |
| 1:24.7 | rate and review them in iTunes. We greatly appreciate it. And this way, |
| 1:29.0 | we can see that you get some value from the time we put in and the dedication each week to create |
| 1:34.2 | these episodes. And as long as that continues, of course, we will continue to create them. |
| 1:39.7 | Rob, always great to be back with you. How are things where you are in the UK? |
| 1:53.7 | Pretty good. Yeah, I've just about recovered from my last appearance on the show where, of course, I had to go six rounds with Jerry, which was good entertainment, but quite mentally bruising for me. |
| 1:58.4 | But yeah, it's nice and sunny outside, and on Monday, they're all starting to be relaxed in terms of our lockdown. |
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