SI169: Buying the Dip ft. Richard Brennan
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 712 Ratings
🗓️ 5 December 2021
⏱️ 70 minutes
🧾️ Download transcript
Summary
Richard Brennan returns today to discuss the misconception of volatility as risk, thoughts on the various measures of risk, drawdowns as an opportunity ‘buy the dip’ in Trend Following strategies, how Richard thinks about risk, the relationship between volatility and risk, and the differences between convergent and divergent traders.
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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:
- Why volatility might not always mean that a model is risky
- The best way to measure true risk
- How to 'buy the dip'
- What Richard thinks about risk
- The relationship between volatility and risk
- Convergent versus divergent trading
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Episode TimeStamps:
00:00 – Intro
01:58 – Announcement of very special Systematic Investor episodes over Christmas featuring Niels, Jerry, Moritz, Rob & Rich together for the first time
02:23 – A huge thank you to listeners of the show, such as Dave W, for leaving your 5-star reviews on iTunes, and feel free to share this link with 3 of your like-minded friends:
https://top-traders-unplugged.captivate.fm/listen
02:57 – Macro recap from Niels
06:04 – Weekly review of performance
16:19 – Drawdowns as an opportunity ‘buy the dip’ in the Trend Following strategies
23:10 – Check out our upcoming midweek-episode with guests Cam Harvey and Rob Carver
24:25 – How Richard thinks about ‘risk’
43:41 – The relationship between volatility and risk
59:20 – Convergence versus divergence
01:06:51 – Benchmark performance update
Copyright © 2025 – CMC AG – All Rights Reserved
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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 Seabird, and Nealz 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. |
| 0:22.9 | Welcome, welcome back to this week's edition of the Systematic Investor series |
| 0:26.6 | with Richard Brennan and I, Neil's Castablasen, where each week we take the pulse of |
| 0:30.3 | the global markets through the lens of a rules-based investor. |
| 0:33.9 | Now, for those of you who are regular listeners, our conversations are intended to give you |
| 0:38.0 | as much of the nurture and encouragement as the turtles got back in the 1980s, as Jerry likes |
| 0:42.9 | to put it. And if you're new to the show, we hope that today's episode will trigger your |
| 0:47.1 | appetite to learn more by diving into the back catalog and listen to all of the past episodes |
| 0:52.2 | that you may have missed, like last week's |
| 0:54.6 | episode with Mark, where we discussed how trend followers overcome uncertainty and reasons for and |
| 1:01.1 | against overriding your models. |
| 1:03.5 | But let me also invite you to listen to the conversation I released on Friday with Professor |
| 1:08.9 | Steve Furster, who together with Professor Andrew Lowe, |
| 1:12.5 | wrote a great book called In Pursuit of the Perfect Portfolio, |
| 1:16.2 | which we discussed, of course, |
| 1:18.1 | and you may find it interesting what Steve had to say |
| 1:21.4 | when I asked him towards the end |
| 1:23.3 | if trend following is indeed the perfect portfolio. |
| 1:27.4 | Rich, great to have you back on the show this week. How are you doing? if trend following is indeed the perfect portfolio. |
| 1:30.9 | Rich, great to have you back on the show this week. |
| 1:32.9 | How are you doing how things going down under? |
... |
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