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Top Traders Unplugged

Niels Kaastrup-Larsen
Trend Following
Inflation
Volatility
China
Investment Strategies
Federal Reserve
Managed Futures
Global Economy
Systematic Investing
Hedge Funds
Commodities
Equities
Artificial Intelligence
Interest Rates
Ctas
Risk Management
Gold
Central Banks
Monetary Policy
Tariffs

Top Traders Unplugged is where the world’s best investors come to share how they think - not just what they trade. Hosted by Niels Kaastrup-Larsen, the show goes deep into systematic trend following, global macro, and the principles that drive long-term success. No forecasts. No fads. Just real conversations with hedge fund managers, economists, authors, and allocators - revealing the timeless ide... more

PublishesTwice weeklyEpisodes954Founded12 years ago
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InvestingBusinessBusiness NewsNews

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Latest Episodes

Paul Chai joins Alan Dunne to discuss what it takes to manage a perpetual investment portfolio designed to support future generations. As CIO of the Kansas State University Foundation, Paul explains how disciplined asset allocation, thoughtful manage... more

The future isn’t hidden. It hasn’t been written yet. That idea anchors this foundational conversation between Dave Dredge, Richard Brennan and Niels Kaastrup-Larsen, on what risk really means in markets. They challenge the mathematics behind modern p... more

Why do recessions happen? Tyler Goodspeed joins Kevin Coldiron to challenge some of the most deeply held beliefs in economics. Drawing on more than three centuries of data from the United States and the United Kingdom, he argues that recessions are r... more

Niels Kaastrup-Larsen and Nick Baltas explore how artificial intelligence, thematic investing and narrative momentum are beginning to reshape systematic investing. Alongside a review of recent CTA performance, they discuss new research on expanding t... more

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Recent Guests

Dave Dredge
Chief Investment Officer at Convex Strategies
Convex Strategies
Episode: SI411: Why the Best Portfolios Are Built to Be Wrong ft. David Dredge & Richard Brennan
Tyler Goodspeed
Chief Economist, ExxonMobil; former Chair, Council of Economic Advisors
ExxonMobil
Episode: IL51: Why Most Recessions Are Completely Misunderstood ft. Tyler Goodspeed
Charlie McGarraugh
CEO of Altis Partners
Altis Partners
Episode: OI23: Why Capital Efficiency Is the Next Edge in Investing ft. Charlie McGarraugh
Brendan Greeley
Author of The Almighty Dollar, 500 Years of the World's Most Powerful Money
Princeton University (PhD candidate); author and journalist
Episode: GM104: How the Dollar Quietly Took Over the World ft. Brendan Greeley
Pippa Malmgren
Author and economist; expert in macro and geopolitical strategy
Author of Pippa's Pen (Substack)
Episode: GM103: Why Optimism Could Be the Most Contrarian Trade ft. Pippa Malmgren
Manoj Pradhan
Founder of Talking Heads Macro; former Morgan Stanley analyst; co-author of The Unanchored Central Banker
Talking Heads Macro
Episode: IL50: Why Central Banks Are Losing Control of Inflation ft. Manoj Pradhan
Michael Pettis
Senior Fellow at the Carnegie Endowment for International Peace; economist and author
Carnegie Endowment for International Peace
Episode: GM102: China Built a Trap. Germany Set It. America Fell In. Europe Is Next ft. Michael Pettis
Eric Crittenden
Investment professional; discussion on ETF and futures integration
Episode: SI404: When Trend Following Meets Equities ft. Eric Crittenden & Andrew Beer
Danielle DiMartino Booth
Ex-advisor to the Dallas Fed and author of FedUp
Dallas Fed (former)
Episode: UGO12: Why the Next Financial Crisis Could Change America Forever ft. Danielle DiMartino Booth

Hosts

Niels Kaastrup-Larsen
Host of the show; co-host and regular moderator with deep focus on global macro and systematic strategies.
Moritz Seibert
Host with multiple series focusing on market structure and Open Interest concepts; frequently engages guests on trend following and execution.

Reviews

4.9 out of 5 stars from 1.7k ratings
  • GM102 (Alan Dunne)

    Michael Pettis is considered a long-time China Hawk.

    In this interview, Alan does a great job in extricating the many subtleties to Pettis's long held opinions.

    Top notch!

    Apple Podcasts
    5
    pam6481
    United States2 months ago
  • Top tier

    Learn more from this cast and crew than almost any other show. Thank you.

    Apple Podcasts
    5
    TheLoneComic
    United States2 months ago
  • Macro and Regimes

    Fantastic podcast. Great hosts and look forward to episodes on Macro, Regimes and Geopolitics

    Apple Podcasts
    5
    ACAlgo
    United States6 months ago
  • Great deluvwet

    As always thought provoking stuff but a great change in deliver as I smiled and giggled several times

    Apple Podcasts
    5
    Happy andrich
    United Kingdom7 months ago
  • Episode 377 (Alan Dunne)

    Great conversation guys. Well said Alan.

    I look forward to studying your paper.

    Apple Podcasts
    5
    pam6481
    United States8 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Feedback highlights the willingness of hosts to explore complex topics with technical rigor.
Listeners praise depth and quality of guests, noting practical insights for traders and allocators.
Many appreciate long-form conversations that connect papers and theories to real-market dynamics.
Some listeners want show notes and referenced papers included in episode resources.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#159
United States/Business/Investing
Apple Podcasts
#101
United Kingdom/Business/Investing
Apple Podcasts
#237
United Kingdom/Business
Apple Podcasts
#25
Italy/Business/Investing
Apple Podcasts
#65
Italy/Business
Apple Podcasts
#104
Germany/Business/Investing

Talking Points

Recent interactions between the hosts and their guests.

IL51: Why Most Recessions Are Completely Misunderstood ft. Tyler Goodspeed
Q: Does that mean you started with the pandemic as a focus and then expanded your view with longer history?
The guest notes the initial questions were about 12 US recessions post-1945, but the research expanded to include UK data and back to 1700 to test whether explanations hold over a longer horizon.
IL51: Why Most Recessions Are Completely Misunderstood ft. Tyler Goodspeed
Q: Okay. So I want to start off with a couple of background questions.
The guest explains that the project began by testing standard recession explanations against a broader historical record, ultimately finding that many common theories don't hold across 1700–modern data, and that recessions' depth and recovery dynamics are driven by shocks and sector linkages rather than simple aging of expansions.
OI23: Why Capital Efficiency Is the Next Edge in Investing ft. Charlie McGarraugh
Q: Why focus on capital efficiency and adaptive design for clients?
Capital efficiency and adaptability allow exposure to more risk premia with potentially lower capital commitments, enabling broader adoption by advisors and institutions. The goal is to balance return, diversification, and hedge-like properties while managing transaction costs and overfitting risks.
OI23: Why Capital Efficiency Is the Next Edge in Investing ft. Charlie McGarraugh
Q: What is the Enhanced Macro Programmer within Altis, and how does it relate to trend following?
The Enhanced Macro Programmer is an evolution of the existing Global Futures Portfolio, adding additional factor return prediction systems while maintaining the core trend-following framework. It blends momentum with other risk premia to improve diversification and capital efficiency.
OI23: Why Capital Efficiency Is the Next Edge in Investing ft. Charlie McGarraugh
Q: What drove the pivot from traditional sports betting to crypto and then to Altis?
The pivot was driven by a search for scalability and the belief that levered, quantitative trading concepts could transfer to crypto. The decision was reinforced by the desire to leverage Altis' IP and to apply data-driven, systematic methods to a rapidly evolving macro landscape.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

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Frequently Asked Questions About Top Traders Unplugged

What is Top Traders Unplugged about and what kind of topics does it cover?

This show tends to lean into macro and quantitative investing, with a heavy emphasis on trend following, market structure, and the interplay between active strategies and passive flows. Episodes commonly explore how regime shifts, AI-driven dynamics, and geopolitical events reshape risk, correlations, and execution, often featuring practitioners from banks, asset management, and research institutions. A standout is the ability to pair rigorous, technical discussions with practical takeaways on risk management, portfolio construction, and edge development, making it valuable for allocators, traders, and quants seeking deeper intuition about how macro and quantitative ideas play out in real markets.

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Which podcasts are similar to Top Traders Unplugged?

These podcasts share a similar audience with Top Traders Unplugged:

1. The Market Huddle
2. Forward Guidance
3. Excess Returns
4. Monetary Matters with Jack Farley
5. Macro Voices

How many episodes of Top Traders Unplugged are there?

Top Traders Unplugged launched 12 years ago and published 954 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Top Traders Unplugged?

Recent guests on Top Traders Unplugged include:

1. Dave Dredge
2. Tyler Goodspeed
3. Charlie McGarraugh
4. Brendan Greeley
5. Pippa Malmgren
6. Manoj Pradhan
7. Michael Pettis
8. Eric Crittenden

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