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Top Traders Unplugged

Niels Kaastrup-Larsen
Trend Following
Inflation
Volatility
China
Investment Strategies
Managed Futures
Global Economy
Systematic Investing
Artificial Intelligence
Commodities
Hedge Funds
Federal Reserve
Equities
Interest Rates
Risk Management
Ctas
Gold
Monetary Policy
Central Banks
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 weeklyEpisodes967Founded12 years ago
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InvestingBusinessBusiness NewsNews

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Artwork for Top Traders Unplugged

Latest Episodes

Niels Kaastrup-Larsen and Richard Brennan explore what the science of complex adaptive systems can teach us about markets and trend following. Drawing on research from the Santa Fe Institute, they examine why markets may be better understood as evolv... more

Today we talk with the editor of the Financial Times’ Alphaville blog, Robin Wigglesworth. Robin is the author of A Fabulous Debt - the Epic Story of How Bonds Built the Modern World. He tells the story of the bond market’s beginnings in Venice and h... more

Niels Kaastrup-Larsen and Rob Carver discuss a market that feels unusually calm despite growing pressure beneath the surface. They look at rising concerns around government debt and bond yields, recent changes to a major managed futures ETF, and why ... more

Alan Dunne is joined by Matt Klein to discuss whether the excitement around AI is getting ahead of the economic reality. Matt explains why the parallels with the 1990s productivity boom may be misleading and why stronger productivity could actually p... more

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Recent Guests

Matt Klein
Author of Overshoot Research Publication; former journalist at The Economist, Bloomberg Barons, FT Alpha
Overshoot Research / The Economist / Bloomberg Barons / FT Alpha
Episode: GM107: What If AI Actually Pushes Interest Rates Higher? ft. Matt Klein
Marvin Barth
Founder of Thematic Markets
Thematic Markets
Episode: GM106: What Happens When the Debt Finally Matters ft. Marvin Barth
David Booth
Founder and Chairman of Dimensional Fund Advisors
Dimensional Fund Advisors
Episode: IL52: Why Staying Calm Is the Ultimate Investing Edge ft. David Booth
Mark Rzepczynski
Guest, investment strategist and author
Episode: SI414: The Hidden Risks Beneath the Treasury Market ft. Mark Rzepczynski
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
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
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

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
  • Ages like a fine wine

    As a private investor, finding systematic and quantitative insights that cut through the noise is rare. Top Traders Unplugged is one of those shows that actually gets better with age—just like a fine wine. The deep-dive discussions on macro, risk, and process offer timeless value for anyone managing their own capital. High quality from start to finish.

    Apple Podcasts
    5
    Sixt Great
    Swedena month ago
  • #1 Investment Podcast

    I’ve listened to almost all 837 episodes in the TTU archives. The stature and quality of the guests are unrivaled, greatly benefitting both my trading and investment skills.

    Apple Podcasts
    5
    MarketNeutral22
    United Statesa month ago
  • Intelligent pod

    Really great guests and always thought provoking

    Apple Podcasts
    5
    пфяяф
    Australiaa month ago
  • More than a podcast

    I have been listening to Top Traders Unplugged for the last 10 years. While the podcast is centred around investing, and more specifically systematic investing and trend following, what has kept me coming back is that it is really about learning how to think.

    The conversations are thoughtful, honest and grounded in a genuine search for objective truth rather than the latest market narrative. That feels increasingly rare today.

    I also like how the different series fit together. Each brings a sl... more

    Apple Podcasts
    5
    Anton_sf
    Swedena month ago
  • Great communication from real industry titans

    I’ve been following TTU for a few years now, and I enjoy it more and more as I get smarter for each episode so I can follow more of what's being discussed, which is saying something for a 22-year-old systematic investor. What I like most is that they bring on true industry experts: CTAs, trend followers, and options specialists with decades of experience, who break things down to a base level and build them back up over the course of each episode.

    Apple Podcasts
    5
    Nikolaj R Pedersen
    Denmark2 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.

Talking Points

Recent interactions between the hosts and their guests.

SI416: 137 Years of Trend: What the Evidence Really Shows ft. Yoav Git
Q: Where do hedges, CTAs, and discretionary macro players interact most on the curve today?
The discussion highlights front-month contracts as the most liquid arena where these participants compete, with producers/consumers hedging further out and physical players active in the spot market, illustrating the dynamics of spreads and inventory-driven behavior.
SI416: 137 Years of Trend: What the Evidence Really Shows ft. Yoav Git
Q: How should records be kept when a human risk veto is involved in a systematic process?
The system is largely automated; risk interventions are pre-programmed into the simulation, with governance and audit trails to understand what happened, when, and why, while ensuring the ability to playback and review the decision process.
SI416: 137 Years of Trend: What the Evidence Really Shows ft. Yoav Git
Q: Does trend following pay too much attention to correlation and not enough to variance and covariance at the instrument level?
The guest explains that both correlation and variance are used in different ways: correlation feeds into portfolio risk and diversification, while variance (and volatility) is used to standardize risk units and sizing, with a focus on maintaining consistent risk across assets rather than treating correlation as a sole predictor.
SI415: Maybe This Is Just What Normal Markets Look Like ft. Alan Dunne
Q: How might short-term trend degradation affect medium-term trend opportunities, according to the hosts?
They suggest that although short-term trend has faced challenges, medium- and long-term trend could still offer attractive opportunities; the key is not overreacting to short-term flux and staying disciplined to price-following while recognizing regime shifts.
SI415: Maybe This Is Just What Normal Markets Look Like ft. Alan Dunne
Q: What did Kevin Warsh say about the Fed balance sheet and QT, and why does it matter for policy credibility?
Warsh argues for a more responsible, non-expansionary approach to the balance sheet and questions whether QE and balance-sheet expansion have become de facto fiscal policy, raising concerns about credibility if the Fed does not reduce its balance sheet and provide a clear framework.

Audience Metrics

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

How many episodes of Top Traders Unplugged are there?

Top Traders Unplugged launched 12 years ago and published 967 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. Matt Klein
2. Marvin Barth
3. David Booth
4. Mark Rzepczynski
5. Mike Pyle
6. Charles-Henry Monchau
7. Paul Chai
8. Tyler Goodspeed

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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