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Top Traders Unplugged

Niels Kaastrup-Larsen
Trend Following
Inflation
Volatility
China
Investment Strategies
Managed Futures
Global Economy
Systematic Investing
Federal Reserve
Commodities
Hedge Funds
Artificial Intelligence
Equities
Interest Rates
Risk Management
Gold
Ctas
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 weeklyEpisodes961Founded12 years ago
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InvestingBusinessBusiness NewsNews

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Artwork for Top Traders Unplugged

Latest Episodes

Niels Kaastrup-Larsen and Alan Dunne examine how a changing macro regime is reshaping markets and the role of trend following. They discuss unusual U.S. intervention in the yen, mounting sensitivity around Treasury yields, and questions surrounding K... more

In today’s episode we talk with a pioneer of modern asset management, Dimensional Fund Advisors founder David Booth. David founded Dimensional in 1981 and it has since grown to over $1 trillion in assets, making it one of the most successful quantita... more

Niels Kaastrup-Larsen and Mark Rzepczynski examine the warning signs emerging beneath seemingly calm markets, from extreme single-stock moves and commodity shortages to growing strains in the U.S. Treasury market. They explore how leveraged hedge fun... more

Alan Dunne is joined by Mike Pyle, Deputy Head of BlackRock’s Portfolio Management Group, to explore how a supply-driven world is reshaping markets and portfolio construction. They discuss the transition from the demand-constrained 2010s to an era de... more

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Recent Guests

Mike Pyle
Deputy Head of BlackRock's Portfolio Management Group; former Global Chief Investment Strategist; former U.S. government policy official
BlackRock
Episode: ALO38: Why the Old Rules of Diversification Are Changing ft. Mike Pyle
Andrew Beer
Guest, hedge fund manager, discussion on CTAs and trend following
Dorsal? (not explicitly stated)
Episode: SI413: Why Trend Following Is More Than Crisis Alpha ft. Andrew Beer & Tom Wrobel
Tom Wrobel
Guest, investment professional discussing CTA trends and non-trend strategies
(not explicitly stated)
Episode: SI413: Why Trend Following Is More Than Crisis Alpha ft. Andrew Beer & Tom Wrobel
Charles-Henry Monchau
CIO of CIS Private Bank in Geneva
CIS Private Bank
Episode: ALO37: Investing in the New World Order ft. Charles-Henry Monchau
Paul Chai
Chief Investment Officer at Kansas State University Foundation
Kansas State University Foundation
Episode: ALO36: The Endowment Playbook for Long-Term Investing ft. Paul Chai
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
Alan Dunne
Quant/Systematic investor featured on the show
Dunne & Co.
Episode: SI408: Has Trend Following Changed Forever? ft. Alan Dunne

Hosts

Niels Kaastrup-Larsen
Host of the show; guides discussion, introduces topics, and anchors conversations with emphasis on risk-aware macro and systematic investing.
Alan Dunne
Host and quant/systematic investing expert; contributes practical perspective on trend following and risk management.

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 States3 months ago
  • Macro and Regimes

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

    Apple Podcasts
    5
    ACAlgo
    United States7 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 Kingdom8 months ago
  • Episode 377 (Alan Dunne)

    Great conversation guys. Well said Alan.

    I look forward to studying your paper.

    Apple Podcasts
    5
    pam6481
    United States9 months ago

Listeners Say

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

Listeners praise the depth and practicality of insights from experienced guests.
Show consistently delivers expert perspectives on macro, trend following, and risk management.
Guests are described as highly knowledgeable with clear, thoughtful explanations.

Chart Rankings

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

Apple Podcasts
#110
United States/Business/Investing
Apple Podcasts
#60
United Kingdom/Business/Investing
Apple Podcasts
#79
Canada/Business/Investing
Apple Podcasts
#204
Canada/Business
Apple Podcasts
#220
United Kingdom/Business
Apple Podcasts
#90
Australia/Business/Investing

Talking Points

Recent interactions between the hosts and their guests.

SI412: Portable Alpha: Asking the Questions That Matter ft. Harry Moore
Q: How should one think about rebalancing alpha and beta in portable alpha structures?
Rebalancing should be done with tolerance bands (e.g., 10% divergence) or infrequently (annual or longer) to minimize tracking error to the benchmark, while ensuring that the beta component can stay sufficiently aligned; the choice depends on liquidity, operational capacity, and risk preferences.
SI412: Portable Alpha: Asking the Questions That Matter ft. Harry Moore
Q: Why should investors consider portable alpha despite its leverage-like features and potential margin risks?
Because when implemented with proper cash buffers, risk controls, and sensible rebalancing, portable alpha can maintain exposure to a desired beta while adding alpha sources, potentially enhancing risk-adjusted returns and improving diversification, especially in environments where trend-following signals shift sharply.
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.

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 consistently explores macro dynamics, trend-following strategies, and risk-aware portfolio construction through conversations with traders, economists, and fund managers. Episodes thread together themes like market structure, liquidity, regime shifts, and the evolving role of technology (including AI) in investing, often grounding discussions in practical capital management, risk controls, and real-world portfolio design. A notable edge is the depth and openness of the dialogue—guests span scalar macro views, quant-driven methods, and endowment-style governance—providing listeners with frameworks to think critically about diversification, leverage, and execution in complex markets.

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Which podcasts are similar to Top Traders Unplugged?

These podcasts share a similar audience with Top Traders Unplugged:

1. Forward Guidance
2. Monetary Matters with Jack Farley
3. Macro Voices
4. Excess Returns
5. The Meb Faber Show - Better Investing

How many episodes of Top Traders Unplugged are there?

Top Traders Unplugged launched 12 years ago and published 961 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. Mike Pyle
2. Andrew Beer
3. Tom Wrobel
4. Charles-Henry Monchau
5. Paul Chai
6. Dave Dredge
7. Tyler Goodspeed
8. Charlie McGarraugh

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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