SI352: Trend Systems Under Strain ft. Nick Baltas

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 14 June 2025

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Nick Baltas is back with Niels for a conversation that sits at the intersection of technology, uncertainty, and discipline. As AI-generated data floods the system and market reversals grow sharper, the challenge isn’t just strategy design — it’s deciding what still counts as signal. They explore how systematic managers are rethinking volatility targets, why certain constraints persist in institutional portfolios, and what recent underperformance may actually be revealing. This episode is less about solutions than about orientation: how to stay aligned when the tools evolve faster than the terrain, and when conviction must coexist with doubt.

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Episode TimeStamps:

00:01 - Introduction to Systematic Investing

02:11 - The Impact of AI and Machine Learning on Data Analysis

07:05 - The Impact of AI on Education and Examination Policies

12:06 - Transitioning Perspectives on Democracy and Markets

21:49 - Dynamic Volatility Targeting in Portfolio Management

24:24 - Exploring Volatility and Leverage

29:50 - Understanding Investor Behavior and Market Dynamics

36:29 - Exploring Investment Constraints and Strategies

45:04 - Rethinking Investment Constraints

49:36 - Strategic Allocations and Market Timing

56:11 - Market Dynamics and Trend Following

01:00:09 - The Evolution of Systematic Investing

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.
0:26.7	Welcome or welcome back to this week's edition of the Systematic Investor series with Nick Baltus and I, Neil's Castle Alaston, where each week we take the pulse of the global
0:30.5	market through the lens of a rolls-based investor. And let me also say a very warm welcome if today's
0:36.1	the first time you're joining and if someone
0:38.2	who cares about you and your portfolio recommended that you tune into the podcast, I would like to
0:43.5	say a very big thank you for sharing this episode with your friends and colleagues. It really does
0:48.6	mean a lot to us. Nick, it is wonderful to be back with you this week. It's been a little while.
0:55.5	It feels like that, at least.
0:57.0	How have you been?
0:57.8	How are you doing?
0:59.1	Yeah, I'm glad I'm back.
1:00.4	It's been maybe like a couple of months almost.
1:02.7	Yeah.
1:03.1	I think last time we caught up was past this whole liberation situation in April.
1:08.7	I'm doing well.
1:09.5	I'm doing well. I'm doing well. We're getting closer to, I guess, the end of
1:12.9	the first half, which is quite insane, to be honest with you. I was kind of thinking that through
1:16.2	it. It's already June. I'm doing well. I've done my fair share of my global trips, you know,
1:22.4	being in all regions so far, spending a bit more time with a team now, thinking about new products,
1:27.7	new ideas and no researching, but also looking forward to a break and it's going to come in,
1:32.3	I guess, in five, six weeks or so. So yeah, how about you? Yes, not too bad, actually. Like you,
	...

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