Katy Kaminski joins us to assess the early signals shaping markets in 2026. The conversation explores the resurgence of commodity trends, the role of volatility estimation, and why diversification across markets and speeds matters more than ever. Drawing on new research, they examine dispersion within the CTA universe, the limits of replication, and how volatility targeting quietly determines outcomes. From precious metals to currencies, from crisis alpha to geopolitical risk, this episode offers a grounded look at why trend following thrives during disruption and why regime change remains its natural habitat.

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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 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 Katy on LinkedIn.

Episode TimeStamps:

00:00 - Introduction to the Systematic Investor Series

00:39 - Weather disruptions and market perspective

02:31 - Precious metals and extreme commodity moves

04:28 - Gold, central banks, and monetary regime shifts

07:43 - Replication versus full CTA diversification

09:47 - Liquidity differences across metals

12:03 - Metals leading trend performance in 2026

15:01 - Multi-sector trends and diversification benefits

20:13 - Media attention and the return of trend following

23:29 - Research insights on speed and dispersion

31:44 - Trend speed and timing tradeoffs

40:59 - Market concentration and narrow universes

43:19 - Volatility estimation as a hidden...

In this episode, Alan Dunne is joined by Dario Perkins to examine why the global macro consensus may be fundamentally misreading the current cycle. The conversation moves from US fiscal stimulus and Federal Reserve credibility to the limits of the K-shaped economy narrative. Perkins challenges prevailing assumptions around AI-driven productivity, labor market weakness, and falling inflation, arguing that policy choices are pushing economies toward overheating rather than stagnation. The discussion extends to bond markets, term premia, Japan’s normalization, Europe’s fiscal pivot, and China’s rebalancing dilemma. What emerges is a picture of renewed growth, rising risks, and a cycle whose ending is now becoming visible.

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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 Alan on LinkedIn.

Follow Dario on Twitter.

Episode TimeStamps:

00:00 - Opening remarks and context

02:25 - Global uncertainty and growth expectations

05:00 - The K-shaped economy under scrutiny

08:12 - Fiscal stimulus, tariffs, and timing effects

11:07 - Fed independence and political pressure

17:06 - The race to appoint the next Fed chair

26:35 - Productivity data and the AI narrative

35:51 - Labor market stall speed debate

39:56 - Bond markets, term premia, and inflation risk

46:03 - Japan’s normalization and demographic...

In this episode, Niels hosts Yoav Git to explore inflation risk, bond fragility, and the changing role of trend following in a world defined by supply shocks and declining trust. Drawing on recent research and market behavior, the conversation examines why traditional bond allocations struggle during inflationary regimes and how commodity trend strategies may offer structural resilience. The discussion spans geopolitics, deglobalization, energy markets, fixed income autocorrelation, and the limits of forecasting macro outcomes. Rather than predicting inflation’s path, the episode focuses on portfolio construction that can endure multiple regimes. What emerges is a disciplined argument for robustness over precision in an increasingly unstable global system.

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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 Yoav on LinkedIn.

Episode TimeStamps:

00:00 - Introduction and series context

01:08 - Inflation back on the radar

02:38 - Recent podcast influences and inflation narratives

06:56 - Geopolitics, trust, and market fragmentation

08:52 - Commodities, volatility, and supply driven moves

10:48 - Trend performance and early 2026 conditions

11:30 - Fixed income, FX, and emerging market trends

17:26 - The all weather portfolio problem

18:18 - Bonds, inflation regimes, and correlation breakdowns

22:39 - Commodity trend as a defensive building block

27:01 - Are markets signaling higher inflation ahead

30:04 - What...