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.

Welcome to the Systematic Investor Series.

Welcome or welcome back to this week's edition of the Systematic Investor Series with Katie Kaminsky, Jim Kassan, Rob Carver, Mark Recibsensky, Rich Brennan, Alan, Nick Bolters, Andrew Beer and I, Neil's Castroblassen.

As you can tell from this introduction today as well as last week's episode,

are very special because it's the first time all nine of us are together for one big conversation and debate.

As you may remember, we did unfortunately due to some technical issues lose rich during our recording, so that will explain why they are not so active in today's conversation.

But without further ado, let's continue our conversation where we left off last week.

I know that Rob already stole one of your topics, but your list was pretty long, so hopefully you have something else.

Well, I think, look, first of all, this is, I mean, I think just going back to, I guess, the question that I would add is, we're trying to define trend falling.

I'd be curious that people define non-trend because, you know, back when we started in 2015, you know, machine learning was a big thing.

And then it was, and now it's, you know, then it went to countertrend.

And it seems like there's a sort of catch-all for non-trend strategies.

I guess I would really turn it back to the group and say, how do you define that side of it?

All right.

Well, Alan, you are the one person that has allocated to non-trend, I think.

So how does that feel?

Yeah.

I mean, I think there's a pretty decent understanding of the taxonomy in the industry overall.

I mean, I think some strategies tend to fall between the cracks a little bit.

But I mean, to answer Andrew's

question, I think when we talk about trend following, there is an inherent assumption that,

one, it's price based. So price is your primary input. Secondly, we're talking about medium to long

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