SI347: Stagflation, Storytelling, and the Search for a New Hero ft. Cem Karsan

SI347: Stagflation, Storytelling, and the Search for a New Hero ft. Cem Karsan

Today Cem and Niels dissect a world quietly shifting beneath our feet.

As markets hum along, Cem explains why the real story lies beneath the surface: a structural liquidity drain, a creeping stagflation that defies familiar playbooks, and a political regime shift few are pricing in. From Buffett’s exit to dollar fragility, elite endowments tapping the bond market, and oil diplomacy with geopolitical undertones—this is a conversation about change in motion.

But this episode doesn’t stop at markets. It’s about the narrative arc of societies under stress—about whether the West can summon the unity and courage to face its next great test.

Insightful, urgent, and layered - this is the episode you will look back on and say: the clues were all there.

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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE

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Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.

IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfoliohere.

Learn more about the Trend Barometer here.

Send your questions to info@toptradersunplugged.com

And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.

Follow Cem on Twitter.

Episode TimeStamps:

01:17 - What has caught our attention recently?

06:54 - Industry performance update

08:44 - Inflation is coming - what now?

16:43 - The Fed is stuck and the Trump administration is changing

26:07 - If US debt defaults, what is left?

29:32 - Are we experiencing the decline of the dollar?

40:19 - The OPEC game

43:21 - Reflecting on the conversation with Demetri Kofinas

48:33 - What is courage as a society?

50:49 - The West is being disunified...on purpose

53:22 - Do we actually know who or what the real enemy is?

58:58 - Cem's latest market forecast

Copyright © 2025 – CMC AG – All Rights Reserved

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PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:

1. eBooks that cover key topics that you need to know about

In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here

2. Daily Trend Barometer and Market Score

One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here

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Episoder(913)

TTU41: Trend Following Expert Explains All ft. Kathryn Kaminski of AlphaSimplex – 1of2

TTU41: Trend Following Expert Explains All ft. Kathryn Kaminski of AlphaSimplex – 1of2

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TTU40: What To Do If You Are Making Too Much Money! ft. Mike Harris of Campbell & Company – 2of2

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TTU38: The Real Secret Behind Trend Following & How It Works ft. Martin Lueck of Aspect Capital – 2of2

In the second part of our conversation with AHL founder and Aspect Capital Director, we dive into the details of his firm’s strategies and models. We explore how the models evolve, how he deals with r...

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TTU37: How to Build a Multi-Billion$ Trend-Following Firm ft. Martin Lueck of Aspect Capital – 1of2

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In this episode, we get an exciting behind-the-scenes story of one of the most famous systematic trading firms of its time, AHL. Our guest is one of the firms founders and takes us from the company’s ...

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TTU36: A Look inside a Currency Trading Firm ft. Chris Cruden of Insch Capital Management – 2of2

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In Part 2 of our conversation with the CEO of Insch Capital Management, we talk about how the firm’s trading models work and how they were built. We discuss how Insch deals with drawdowns, increased r...

2 Okt 20141h 5min

TTU35: The Advantages of Being a Systematic Trader ft. Chris Cruden of Insch Capital Management – 1of2

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TTU34: The Art of Risk Management ft. Luc Van Hof of Capital Hedge – 2of2

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