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 Kavinsky, Jim Kassan, Rob Carver, Mark Rathamsinski, Richard Brennan, Alan Dunn, Nick

Balthas, Andrew Beer, and I, Niels Castroblassen. And as you can tell from this introduction, today and next week will be very special episodes

because it's that time of the year where all nine of us get together for one big conversation

and debate.

So firstly, let me start by thanking all of you for making the time for this extended recording

today, which I really have been looking forward to. And of course, for all the time for this extended recording today, which I really have been looking

forward to. And of course, for all the time and energy you have put into making the weekly

episodes that we have published this year, it means a lot to me, and based on the feedback

we get, I know it means a lot to our community. We are recording today on December 4th, and this

conversation will be split into two parts

and published on December 21st and December 28th. We've got a great lineup of topics that we

shared with each other beforehand and to mention just some of the themes that we will cover

today and next week in part two here are some of the headlines. The biggest investment mistakes of

2024. The US dollar under the new Trump administration. The efficacy of replicating

trend following returns. The mean bubble. Manage futures beta, does it exist? The return

dispersion between CTAs this year, the role of social media in

raising AUM, are systematic strategies becoming overcrowded, and are markets becoming less efficient?

So, as you can hear, we have a really packed agenda, so let's dive straight into it.

The format of the conversation today will be that

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