SI370: Sharpe Ratios, Tail Risks, and the Cost of Comfort ft. Nigol Koulajian & Alan Dunne

Today Niels continues his conversation with Jennifer Sunu, who is the director of compliance at the NFA, Arthur Bell, CPA and managing member of Bell Tower LLC, and JP Bruynes, who is a partner at the law firm Akin Gump.Listen in to today’s episode as we focus on how regulators are helping and sometimes hurting managers and clients, the importance of cyber security as a CTA, the way that cryptocurrencies have changed the way we trade, some of the best things that have happened to managed futures over the last twenty years, and how the market has been affected.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:The dangers of over-regulationWhat we can learn from blow-ups at the manager level and how to avoid them in the futureWhy investors need to do their due diligence to avoid fraudWhat the NFA considers in reviewing educational and promotional materialsHow to ensure your promotional material is meeting NFA guidelinesWhy pundits on news shows are allowed to make predictions on markets that may be just an educated guessThe importance of cyber security and how to you can protect yourselfWhat impact cryptocurrencies may have on futures marketsHow regulators are working to help clients avoid unrealistic expectations in cryptocurrenciesThe best things that have happened to managed futures in the last twenty yearsWhat has changed regarding the Volcker rule in the past few yearsHow flat fee products are changing the industryWhy we need to worry about the “race to zero”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.comAnd 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.Learn more about Jennifer Sunu and the <a href="https://www.nfa.futures.org/index.html" rel="noopener noreferrer"...

23 Aug 201846min

On today’s episode Niels Kaastrup-Larsen is joined by Jennifer Sunu, who is the director of compliance at the NFA, Arthur Bell, CPA and managing member of Bell Tower LLC, and JP Bruynes, who is a partner at the law firm Akin Gump.Listen in to today’s episode as we focus on how the managed futures industry is organized, how it has changed since the industry started, who the key players are and what role do they play, and how regulators keep an eye on all these players to ensure they play fairly.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:What got our guests into managed futuresThe basic structure of the managed futures industryWhat role each of the key players have in managed futuresHow the different regulatory bodies work together in the USThe different ways that hedge fund management has changed over the last twenty yearsHow the industry has evolved over the last forty yearsWhy our guests believe that investing in managed futures is a good ideaWhat it takes to set up a CTA todayThe importance of understanding your edge as a CTAWhat first steps a new CTA is going to take in working with regulatorsWhat Jennifer recommends for younger CTA’The questions new investors should be asking to find the best CTA for them-----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.comAnd 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.Learn more about Jennifer Sunu and the National Futures AssociationLearn more about Arthur Bell and Bell Tower LLCLearn more about JP...

16 Aug 201843min

We’re changing things up on today’s episode of the podcast: we have with us Frank Conway from the Economic Rockstar Podcast interviewing Niels about trend following strategies, asset allocation, and more. Listen in to find out what changes need to be made in the trend following space, the importance and benefits of your asset allocation when it comes to your investments, and new publications that can take you farther in mastering trend following and managed futures.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:Why Niels has worked hard to keep his explanation of trend following as simple as possibleWhy at the end of the day, all investors are trend followersWhat really sets one trend follower apart from anotherHow trend following techniques have evolved over timeWhat traits Niels sees in the company he works with as most important in their 40+ year successThe challenges and difficulties of trend followingWhy trying to do it yourself in trend following can hurt rather than helpWhy successfully executing a trend following strategy is not something that Niels believes everybody can or should doWhy despite their successes, many trend followers feel an embarrassment in showing their track recordsHow the right asset allocation can build safer and better performing portfoliosWhy it’s important to have “skin in the game” as an investment managerThe importance of COI versus ROIWhat Niels thinks of cryptocurrencies and how it relates to trend followingWhy DUNN Capital trades the VIX and its importance in their portfolioWhat inspired Niels to write his recent books on trend following and managed futuresThe purpose behind Niels outreach, whether it’s podcasts, books, newsletters, or anything elseWhat Niels hopes people will get out of his books-----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.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on <a href="https://www.toptradersunplugged.com/reviewttu"...

9 Juli 20181h 13min

Katy Kaminski and I continue our conversation with Harold de Boer, and discuss his philosophy behind pure trend and divergent trading, as well as why Harold believes Transtrend is unique in the managed future space. In this episode, we talk about the benefits of synthetic trading, Harold’s advice to a new rising star, and what he is looking forward to going forward.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How Harold views pure trend and divergent trading within TranstrendWhat pure trend means today in comparison to what it used to meanWhat it means to Harold to serve his clients best through his tradingHow trading synthetic markets helps to profit from trendsWhat Harold thinks is unique about Transtrend’s trading modelThe research projects that inspire Harold right nowWhy Harold believes it’s unrealistic to expect returns without volatilityThe differences between the passive and active investorWhat excites Harold about 2018The things that scare Harold and keep him up at nightWhy risk management should be done by anticipation, not by response-----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.comAnd 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 Katy on TwitterFollow Harold de Boer on LinkedinCopyright © 2025 – CMC AG – All Rights Reserved----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...

21 Juni 201840min

Harold De Boer is a Managing Director, Member of Management Committee and Member of Board of Directors at Transtrend B.V. Growing up, Harold’s interest in statistics grew out of his work at his family’s dairy farm, and expanded into the world of trading and managed futures. Listen in to learn about Harold’s unique perspective on the industry, his marketing philosophy, and some of the most important lessons he’s learned during his successful career.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How Harold got started with statistics at a young ageWhy Harold’s first job as a mathematician was intended to be only temporaryHow that first job transformed into Harold’s work at TranstrendWhen the Turtles project was discovered by Transtrend in its early yearsHow being bought by a larger organization did not affect Transtrend’s operationSome of Harold’s biggest lessons he has learnedHow his time on a dairy farm informs Harold’s approach to trend followingWhat investors underestimate and don’t understand about managed futuresThe only thing that actually drives the marketsHow market dynamics changed as a result of the transition from floor trading to electronic tradingWhy Harold believes that Transtrends program should be called “medium-term”Why Harold believes positive alpha does not actually exist-----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.comAnd 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 Katy on TwitterFollow Harold de Boer on LinkedinCopyright © 2025 –...

15 Juni 201839min

Katy Kaminski and I continue our conversation with Nigol Koulajian, and discuss if his strategies of working with, around, and doing the opposite of what many investors are doing, has given him any advantages? In this episode, we talk about the risk of research and data affecting the market, why he distrusts in many institutional teachings of finance, and what he is looking forward to this year.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How savvy investors stay ahead of the curveWhy you need to isolate yourself from the hivemind of mainstream investorsWhy those using smart beta have not succeeded recentlyNigol’s opinion on VIX’s impact in and outside the managed futures industryHow Nigol adapts to the changing industryWhy Nigol calls filtering the “holy grail” and how he uses itThe state of institutional and scientific learning of investingHow research into the markets affects their behaviorWhat opportunities 2018 brings for Nigol and other investorsWhy Nigol believes CTA’s are still very useful for managed futures-----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.comAnd 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 Katy on TwitterFollow Nigol Koulajian on LinkedInCopyright © 2025 – CMC AG – All Rights Reserved----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...

24 Maj 201833min

Nigol Koulajian is the Founder and Chief Investment Officer of Quest Partners LLC, and has been designing and trading short-term and long-term technical systems for over 22 years. Coming from Columbia business school, many of Nigol’s general practices seem counter-intuitive but have consistently yielded results. This interview will help get you deeper into the trading and management philosophy that has made Quest Partners such a successful firm.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:How Nigol got started with trading systemsHow Quest Partners grew to where it is todayWhat Nigol has learned from his unique path into managed futuresWhy clearly defining your process is value added to your productWhy Nigol is okay with always being in a state of failureHow developing nuance in his intuitive process has become Nigol’s greatest assetWhat role meditation has played in Nigol’s careerWhat factors played into Quest’s successWhy Quest takes tail risk into account while normalizing returnsWhy Nigol puts more trust in short-term over the long-termSome of Nigol’s short-term trading strategiesWhat Nigol is studying right nowHow writing white papers has helped Nigol’s relationships with his clientsWhy focusing on your investors can be hurting your long-term growthHow Quest Partners has changed to fit the post-2010 financial climateThe problem with smart beta-----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.comAnd 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 Katy on TwitterFollow Nigol on <a href="https://www.linkedin.com/in/nigol-koulajian-a558412a/" rel="noopener...

18 Maj 201837min

In our continued conversation with Robert Sinnott, Katy Kaminski and I dive into why AlphaSimplex has been so successful, why Robert values transparency in his firm so highly, and what he advises for new and rising-star investors. He goes deep into what he is excited about and afraid of with managed futures, and what he’s looking forward to accomplishing with AlphaSimplex in the future.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HEREIn This Episode, You’ll Learn:Why AlphaSimplex maintains a pure trend programWhat problems in the trend following space Robert hopes to solveThe challenges that AlphaSimplex deals with on a regular basisWhat factors have given AlphaSimplex its successWhy Robert holds transparency in such high regardHow the models Robert uses employ smart long-term and short-term assessment and whyWhen your size as a firm hurts your performanceWhat about managed futures makes Robert the most excitedThe things about managed futures that keep Robert up at nightWhy the models you are reading about are wrongRobert’s advice for young and rising star investorsWhy Robert believes the right question can often more important than the answer-----Resources & Links Mentioned in this Episode:Learn more about Joe Blitzstein’s “Introduction to Probability”Find out more about my co-host Katy Kaminski’s “Trend Following with Managed Futures: The Search for Crisis Alpha” 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.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more

19 Apr 201838min