We never really worked in an investment bank.

That was actually kind of a hindrance when we first began, but as years have gone by, I think

we've picked a lot of credibility by trading our own money and also attention to risk, having

trade your own money.

We've always been very careful about risk.

We've never had a bank's balance sheet to keep backing us and paying us a salary.

We've had to be very careful. I think people over the balance sheet to keep backing us and paying us a salary. We've

have to be very careful. I think people over the years have got to know us and respect those

facts. And also, we've built our own infrastructure. Nothing's off the shelf. Nothing's like

what you would have in the investment bank, for instance. It's pretty much built by us.

Being different is not so easy in the crowded space of systematic trading.

But nevertheless, it can be important if you want people to pay attention to what you do.

This was a clear motivating factor for today's guest when he was just starting out.

Trading differently, using a less crowded time horizon,

and perhaps most importantly, targeting a risk level in a very different and perhaps even

unique way has certainly helped his firm to be noticed by institutional investors around the globe.

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

Let's rejoin the conversation with your host, veteran hedge fund manager, Niels Kastrop Larson.

Thank you. fund manager, Niels Kastrop Larson. One of our quants and he'll go and actually properly program it in, and we'll back test

extensively over all our markets.

I'll see go back through it for debugging, et cetera, et cetera.

Then what we do, we then follow it hypothetically.

...