SI215: Trend Following vs Volatility to Protect Your Portfolio ft. Cem Karsan
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 712 Ratings
🗓️ 22 October 2022
⏱️ 63 minutes
🧾️ Download transcript
Summary
Today, Cem Karsan joins us for our weekly conversation on Trend Following as well as Volatility, following yet another fast paced and eventful week. We discuss the challenges of being long volatility in the current environment and how under-performing equity stock market volatility is the new normal, the increased popularity of volatility strategies post 2018 and 2020 and different ways of knowing how the strategies may behave in an inflationary environment. We also discuss concerning liquidity conditions and what has caused the current situation, what investors should prioritize, in terms of allocation, to protect their portfolio, how the increase in strength of the U.S. Dollar affects the markets, how investors and pension funds act when inflation is sky rocketing and much more.
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
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Episode TimeStamps:
00:00 - Intro
01:28 - What happened this week?
08:37 - Industry performance update
10:30 - Discussing an article from EQD
18:49 - Going into unknown territory
23:55 - Is liquidity becoming a problem?
35:26 - Volatility strategies vs. Trend Following
43:15 - The strength of the U.S. Dollar
51:26 - Alternative markets... could liquidity be drying out?
56:35 - What happens when inflation is so high?
01:01:48 - Thanks for listening
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
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| 0:00.0 | You're about to join Neil's Kostrup Larson on a raw and honest journey into the world of systematic investing and learn about the most dependable and consistent yet often overlooked investment strategy. |
| 0:13.2 | Welcome to the Systematic Investor Series. |
| 0:28.7 | Welcome and welcome back to this week's edition of the Systematic Investor series with Jim Kassan and I, Neil's Kastrolusen, |
| 0:32.5 | where each week we take the pulse of the global markets through the lens of a rules-based investor. |
| 0:37.6 | If you are newer to the show, I hope that today's episode will trigger your curiosity to check out the back catalog and listen to the past episodes you may have missed. |
| 0:41.6 | Like my conversation with Andrew Beer last week, where we discussed CTA replication, the good, |
| 0:46.9 | the bad and the ugly, and what he sees coming for the CTA industry as a whole. |
| 0:52.0 | Also, I would encourage you to listen to the midweek episode |
| 0:54.5 | where Kevin spoke to Richard Duncan, |
| 0:57.1 | economist and bestselling author, |
| 0:58.8 | about new ways of thinking about the economic growth and prosperity |
| 1:02.5 | and how the world has become addicted to credit. |
| 1:07.0 | Anyway, hit over and check them out once you're done listening to Jim and I today. |
| 1:11.4 | Jim, it is great to have you on the Systematic Investor Series for a change. |
| 1:15.3 | How are you doing? |
| 1:15.9 | How are things in the Wind the City? |
| 1:17.2 | Doing well. |
| 1:18.6 | Fall here. |
| 1:19.3 | It's beautiful. |
| 1:19.8 | All the leaves are changing color. |
| 1:21.1 | It's excited to be on here with you. |
| 1:23.3 | I actually get to do some of the talking this time. |
... |
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