TTU129: Trend Following Nordic Style ft. Svante Bergström, CEO & Founding Partner of LYNX Asset Management
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 712 Ratings
🗓️ 6 February 2023
⏱️ 67 minutes
🧾️ Download transcript
Summary
Today, we are joined by Svante Bergström, Founding Partner and CEO of Lynx Asset Management, for a conversation on how they incorporate trend following in their trading strategy, through the use of a multi-strat approach. We discuss why they believe trend following will continue to work for the next hundred years and how they ensure a good balance between achieving a high Sharpe while maintaining the trend following profile, what they have learned from 2022 and how they used diversifying models and machine learning to profit in 2022, their process of finding new models and replacing the ones that do not work and why they are sceptical about the returns from CTA replication. We also discuss the number of markets they prefer to trade, how they manage risk and what you should pay attention to when evaluating managers, their approach to capacity and fees and their process of finding new talent in the industry, how they implement ESGs in their work 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 info@toptradersunplugged.com
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 Alan on Twitter.
Learn more about LYNX
Episode Timestamps:
02:18 - Introduction to LYNX
04:11 - How did they settle on trend following?
09:08 - A painful ride?
11:09 - Too focused on sharpe?
14:04 - What stood out in 2022?
16:17 - The dual mandate
18:10 - The benefits of diversifying strategies
20:08 - Why machine learning?
24:31 - The flipside of diversifying strategies
28:32 - The process of replacing models
31:36 - Their view on CTA replication
35:54 - Execution within LYNX
38:15 - The right number of markets
41:10 - How they manage risk
46:02 - What makes a good manager?
51:11 - The issue with capacity
54:29 - Finding and hiring new talent
59:41 - Is Liquidity on a downfall?
01:01:51 - Managing cash
01:02:48 - Trend following disagreements
01:04:04 - Expectations for 2023
01:05:33 - Thanks for listening
Copyright © 2025 – CMC AG – All Rights Reserved
----
PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:
1. eBooks that cover key topics that you need to know about
In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here
2. Daily Trend Barometer and Market Score
One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here
3. Other Resources that can help you
And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here
Transcript
Click on a timestamp to play from that location
| 0:00.0 | We are in an environment where uncertainty is extremely high, and that's normally a good spot for a trend following. |
| 0:15.0 | But at the end of the day, we all know that the best environment for us is when something totally unexpected happened. |
| 0:23.6 | And I can't do a forecast of what that would be, but let's keep our fingers crossed that things happen, |
| 0:33.6 | and we'll try to make money out of that. |
| 0:36.6 | Imagine spending an hour with the world's greatest traders. and we'll try to make money out of that. |
| 0:41.2 | Imagine spending an hour with the world's greatest traders. |
| 0:45.7 | Imagine learning from their experiences, their successes, and their failures. |
| 0:47.7 | Imagine no more. |
| 0:54.1 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world, so you can take |
| 0:55.0 | your manager, due diligence, or investment career to the next level. |
| 0:59.2 | Before we begin today's conversation, remember to keep two things in mind. |
| 1:03.1 | All the discussion we'll have about investment performance is about the past, and past |
| 1:07.1 | performance does not guarantee or even infer anything about future performance. |
| 1:11.7 | Also understand that there's a significant risk of financial loss with all investment strategies, |
| 1:16.0 | and you need to request and understand the specific risks from the investment manager about their product |
| 1:21.4 | before you make investment decisions. |
| 1:23.8 | Here's your host, veteran hedge fund manager, Niels Kostrup Larson. |
| 1:33.4 | Hey everyone and welcome to another edition of Top Traders on Plot, where today, Alan |
| 1:37.6 | and I are joined by Sven DeBergstrom, co-founder and CEO at Links as part of our mini-series |
| 1:43.1 | focusing on the one investment strategy |
| 1:44.9 | that beat everything else in 2022, namely trend following and managed futures more broadly. |
| 1:51.3 | First off, Swente, it's great to have you on the podcast. Thanks so much for joining us today. |
... |
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 2026.