Still, not trend following, as we all know, is a very painful strategy because most of the time you can be underwater.

And you can have periods of one, two, three years that you are underwater which makes managing and also from an investor

type view makes it very difficult.

And then you start questioning your approach.

You are maybe forced by investors to change things.

Although on the long-term view, nothing has changed.

This is, I think, the big challenge everyone in our industry has.

But on the other hand, we also see a lot of resilience in our industry,

because most of the competition and on the successful trend following CTS, they are around for 15, 20, 30, 40 years.

Imagine spending an hour with the world's greatest traders. Imagine learning from their

experiences, their successes, and their failures. Imagine no more. Welcome to Top Traders Unplugged, the place where you can learn

from the best hedge fund managers in the world so you can take your manager, due diligence,

or investment career to the next level. 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 product

before you make investment decisions.

Here's your host, veteran hedge fund manager, Niels Kostrup Larson.

Hey everyone and welcome to another edition of Top Traders on Plog, where today Alan Don and I are

joined by Bruno Gmure, founder and CIO of Quantica Capital, as part of our min on plot, where today Alan Don and I are joined by Bruno Gmure, founder and

CIO of Quantica Capital, as part of our miniseries focusing on the one investment strategy

...