I think that managed futures continues to go through this constant evolution where new edges, new ideas, new behaviors of markets come out.

And that is the whole game. That is what wakes you up in the morning. That is what's challenging, that is what gives you ulcers at night.

It's how are the market participants causing that aggregate macro behavior to change.

And that ever-newness is what makes this industry interesting.

Welcome back to Top Traders Unplugged, where the best traders in the world come to share their experiences,

their successes, and their failures. Before we begin today's conversation, remember to keep two

things in mind. All the discussion we'll have about investment performance is about the past,

and past performance does not guarantee or even infer anything about future performance.

Also understand that there's a significant

risk of financial loss with all investment strategies, and you need to request and understand

the specific risks from the investment manager about their products before you make investment

decisions. Now let's rejoin the conversation with your host, veteran hedge fund manager,

Neil's Kastra Blercson.

Questions slash observations, which you may or may not agree with. So first was just a question.

So do you use machine learning, you know, throughout the program? I mean, would you say it's a

machine learning trend following strategy is, you know, throughout the program? I mean, would you say it's a machine learning,

trend following strategy, you know? No, I wouldn't. We have a portion of our portfolio,

about 40% of the risk of the portfolio are in machine learning, or at least partially informed

with my machine learning. And to be specific, what I'm saying is 40% of our portfolio is composed of trend signals

that are then differentially weighted based on the outputs of these machine learning tools.

And I should again say that these machine learning tools are not neural networks.

They are things like decision trees.

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