SI259: Trend Following & the New Normal ft. Katy Kaminski
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 2 September 2023
⏱️ 61 minutes
🧾️ Download transcript
Summary
Today, we welcome Katy Kaminski to the Systematic Investor Series, as we dive deep into trend following systems and how to overcome the unintended biases that can creep into CTA systems, why Katy believes everybody has to “go back to the drawing board”, why it is unrealistic to expect things to go back to “normal”, and why Katy believes we are not in a crisis but rather a correction. We also discuss how a crisis is in the eye of the beholder and shed light on the current global macro narrative. We round things off uncovering why Katy believes bonds are mispriced, why "simple" trend following strategies persist to thrive and much more.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to [email protected]
And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
Follow Katy on LinkedIn.
Episode TimeStamps:
01:16 - What has caught our attention recently?
03:43 - Industry performance update
06:06 - The challenge of bias in trend following systems
13:54 - Taking the bonds out?
16:22 - Advice on trading universal parameters
19:35 - Going back to normal - a fantasy?
23:35 - Trend following - a long divergence strategy
26:31 - Are we actually in a crisis?
32:05 - Are crises becoming shorter and shorter?
36:38 - How does Katy define a crisis?
37:40 - A different understanding of trend following?
40:32 - Are there different types of crises?
45:55 - A global macro perspective
51:38 - Are bonds mispriced?
55:37 -...
Transcript
Click on a timestamp to play from that location
| 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. |
| 0:26.7 | Welcome or welcome back to this week's edition of the Systematic Investor Series, |
| 0:28.9 | will Katie Kaminsky and I, Neil's Castro-Larsen, |
| 0:33.3 | where each week we take the pulse of the global market through the lens of a rules-based investor. |
| 0:37.1 | Katie, it is wonderful to have you back on the show. |
| 0:37.9 | How are you doing? How are things where you are today? Things are good. You know, it is wonderful to have you back on the show. How are you doing? |
| 0:39.2 | How are things where you are today? |
| 0:41.0 | Things are good. |
| 0:43.1 | You know, it's fall starting up. |
| 0:46.8 | You can feel it in the air here in Massachusetts, a little bit chilly. |
| 0:50.8 | Starting to feel like school starting, which is good for me. |
| 0:51.4 | Yeah. Yeah, it's funny you say that. |
| 0:59.0 | This year is only our second year where our kids are not starting school because they're in university now. |
| 1:00.1 | So it doesn't feel quite the same. |
| 1:02.0 | But I remember fondly the difference between having them home all summer and then suddenly |
| 1:07.9 | school starts and everything quiets down. |
| 1:10.0 | So I feel you on this one. |
| 1:12.9 | It's a nice time year. Exactly. Exactly. Now, Katie, we obviously have some topics that we want |
| 1:19.3 | to talk about and I think people will be very, it'll be enlightening to see what you've been up to. |
| 1:26.3 | But I always like to ask sort of in terms of other |
| 1:29.1 | things that has been on your radar, things you've been sort of monitoring, you know, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Niels Kaastrup-Larsen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Niels Kaastrup-Larsen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.