Top Traders Unplugged4 Okt 2025

SI368: Valuation Has Left the Room ft. Cem Karsan & Alan Dunne

Cem Karsan joins Alan Dunne to chart a market running on more than just momentum. Beneath the surface: a structural liquidity engine, political incentives aligned with asset reflation, and a surge in non-correlated flows reshaping risk itself. As institutions scramble to catch up and volatility begins to rise with price, Cem draws on lessons from the late 90s to explain why the real story is not about valuation - but positioning. From AI’s misunderstood impact to the growing role of options, gold, and crypto, this is a portrait of a regime defined not by fundamentals, but by reflex and constraint.

-----

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

-----

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 Portfolio” here.

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.

Follow Alan on X

Episode TimeStamps:

00:23 - What has been on our radar recently?

02:00 - Industry performance update

03:07 - Are current valuations a sign of a bubble?

12:13 - The importance of reflexivity

18:59 - The move towards non correlation is upon us

22:55 - What is driving up asset prices?

26:34 - When will the supply/demand imbalance normalize?

31:56 - Reaching an uncontrollable situation

35:47 - What are markets showing us about options?

39:38 - Precious metals is the place to be

42:26 - Is AI actually the game changer that we all expect it to be?

52:07 - Will better technology = better performance?

56:03 - A timeline for possible risk dates

----

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

3. Other Resources that can help you

And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here

Disclaimer

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(929)

SI296: Is Trend Following Becoming Too Complicated? ft. Mark Rzepczynski

Mark Rzepczynski is back to discuss the latest investor sentiment survey from Societe Generale’s Capital Consulting team, to find out what strategies investors are losing interest in and which are see...

18 Mai 20241h 3min

ALO24: Managing Money Through Structural Shifts ft. Richard Urwin

Richard Urwin, Chair of the Investment Committee at Saranac Partners, the $6bn UK wealth manager, joins Alan Dunne in this episode to discuss how he is approaching asset allocation at the current junc...

15 Mai 20241h 6min

SI295: Trend Followers - The Unwanted Party Guests? ft. Nick Baltas

Together with Nick Baltas, we dive into trading signal direction and discuss if signal direction always trump signal strength in portfolio construction, based on CFM’s paper on Agnostic Risk Parity. B...

11 Mai 20241h 1min

ALO23: Behind the Scenes of a High Net Worth Investor ft. Tad Fallows

In this episode, Tad Fallows, Founder of Long Angle, a community for high-net-worth and ultra-high-net-worth investors, joins Alan Dunne for a fascinating chat on how they approach asset allocation a...

8 Mai 20241h 8min

SI294: Lowering the Cost of being Long Commodities ft. Hari Krishnan

Hari Krishnan returns to the show for a deep dive into commodities. He helps us understand why investing in commodities is not as easy as other markets and why he believes that we are entering a commo...

4 Mai 202455min

GM60: Preparing Your Portfolio for the Second Half of 2024 ft. Christian Mueller-Glissmann

In this episode, Cem and I welcome Christian Mueller Glissman back on the show, and together, we tackle the intricacies of capital allocation in 2024, particularly amid the pivotal elections we expect...

1 Mai 20241h 5min

SI293: Market Outlook for the Rest of 2024 & EOY S&P500 level ft. Cem Karsan

Today, I'm joined by Cem Karsan to discuss how speculations in markets affect the economy and Cem presents his view on the current state of global macro as well as a forecast for the rest of the year....

27 Apr 202458min

GM59: The Geopolitical Tug-of-War: Russia, China & the West ft. Marko Papic

Join us for an eye-opening discussion on global power dynamics with geopolitics expert Marko Papic, alongside Cem Karsan and myself, where we dive deep into the ongoing tug-of-war between the West, ...

24 Apr 20241h 6min