Podcasts/Niels Kaastrup-Larsen/Top Traders Unplugged
SI378: When Prices Stop Making Sense ft. Mark Rzepczynski
Top Traders Unplugged•byNiels Kaastrup-Larsen

SI378: When Prices Stop Making Sense ft. Mark Rzepczynski

0:000:00
This episode examines markets through the lens of uncertainty rather than prediction. As the Federal Reserve delivers a rate cut amid dissent and conflicting signals, Alan and Mark explore what it means for systematic investors navigating noisy data, fragile liquidity and shifting regimes. The conversation moves from Fed credibility and term premia to bubbles, leverage and the limits of valuation in an environment shaped by narratives as much as fundamentals. Along the way, they return to a core question at the heart of systematic investing: when uncertainty rises and explanations multiply, should prices remain the final arbiter of risk, signal and portfolio design? ----- 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 [email protected] 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 Mark on Twitter . Episode TimeStamps: 00:00 - Introduction to the Systematic Investor series 00:23 - Market context and recent CTA performance 02:41 - Initial reactions to the Fed decision and rate cut 03:12 - A messy Fed and the problem of dissenting signals 06:48 - Inflation, growth projections and policy uncertainty 08:31 - Signal versus noise in systematic trading models 11:22 - Employment data revisions and confidence in fundamentals 13:10 - Bond valuation, term premia and the question of safe assets 16:30 - Fiscal dominance, inflation risk and portfolio fragility 19:29 - Prices versus value and the limits of interpretation 22:47 - Narratives, reflexivity and momentum in markets 28:07...
🏢 Niels Kaastrup-Larsen•886 Episodes•0 Subscribers•0 Total Listens

Episode Playlist

25 Episodes
SI378: When Prices Stop Making Sense ft. Mark Rzepczynski
Dec 13, 2025•—

SI378: When Prices Stop Making Sense ft. Mark Rzepczynski

TTU151: What Comes After 60/40? Systematic Thinking, BlackRock Style ft. Jeff Rosenberg
Dec 10, 2025•—

TTU151: What Comes After 60/40? Systematic Thinking, BlackRock Style ft. Jeff Rosenberg

SI377: What's New in SG Indices in 2026? + The Regime-Adaptive Portfolio ft. Alan Dunne
Dec 6, 2025•—

SI377: What's New in SG Indices in 2026? + The Regime-Adaptive Portfolio ft. Alan Dunne

ALO32: AI Booms, Fiscal Strains and the New Macro Regime ft. Joe Little
Dec 3, 2025•—

ALO32: AI Booms, Fiscal Strains and the New Macro Regime ft. Joe Little

SI376: What They’re Only Now Starting to See ft. Andrew Beer
Nov 29, 2025•—

SI376: What They’re Only Now Starting to See ft. Andrew Beer

IL43: The Land Trap: How Property Shapes Power ft. Mike Bird
Nov 26, 2025•—

IL43: The Land Trap: How Property Shapes Power ft. Mike Bird

SI375: CTAs After the Walls Come Down ft. Rob Carver
Nov 22, 2025•—

SI375: CTAs After the Walls Come Down ft. Rob Carver

UGO08: The Coming Hunger Games for Global Savings ft. David Dredge
Nov 19, 2025•—

UGO08: The Coming Hunger Games for Global Savings ft. David Dredge

SI374: When the Data Goes Dark: Trend Following, Turbulence & Total Portfolios ft. Katy Kaminski
Nov 15, 2025•—

SI374: When the Data Goes Dark: Trend Following, Turbulence & Total Portfolios ft. Katy Kaminski

GM91: Inside China’s Growth Dilemma ft. George Magnus
Nov 11, 2025•—

GM91: Inside China’s Growth Dilemma ft. George Magnus

SI373: Why Trend Thrives When Inflation Returns ft. Yoav Git
Nov 8, 2025•—

SI373: Why Trend Thrives When Inflation Returns ft. Yoav Git

GM90: The Quiet Repricing of Reality ft. Adam Rozencwajg & Cem Karsan
Nov 5, 2025•—

GM90: The Quiet Repricing of Reality ft. Adam Rozencwajg & Cem Karsan

OI19 BONUS: Living With Ed Seykota ft. David Druz
Nov 3, 2025•—

OI19 BONUS: Living With Ed Seykota ft. David Druz

SI372: QIS Unboxed: Rules, Wrappers, and Reality ft. Nick Baltas
Nov 1, 2025•—

SI372: QIS Unboxed: Rules, Wrappers, and Reality ft. Nick Baltas

OI19: The Trader Who Never Spoke...Until Now ft. David Druz
Oct 29, 2025•—

OI19: The Trader Who Never Spoke...Until Now ft. David Druz

SI371: Trends Don’t Form Randomly. They Form Reflexively ft. Richard Brennan
Oct 25, 2025•—

SI371: Trends Don’t Form Randomly. They Form Reflexively ft. Richard Brennan

UGO07: The Illusion of Safety: How Markets Became the Economy ft. Keith DeCarlucci, Patrick Kazley & Hari Krishnan
Oct 22, 2025•—

UGO07: The Illusion of Safety: How Markets Became the Economy ft. Keith DeCarlucci, Patrick Kazley & Hari Krishnan

SI370: Sharpe Ratios, Tail Risks, and the Cost of Comfort ft. Nigol Koulajian & Alan Dunne
Oct 18, 2025•—

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

GM89: When Credibility Becomes the Risk Premium ft. Maurice Obstfeld
Oct 15, 2025•—

GM89: When Credibility Becomes the Risk Premium ft. Maurice Obstfeld

SI369: Liquidity, Leverage, and the End of Safety ft. Mark Rzepczynski
Oct 11, 2025•—

SI369: Liquidity, Leverage, and the End of Safety ft. Mark Rzepczynski

GM88: Cycles of Promise and Pain: Argentina’s Unfinished Lesson ft. Nicolas Dujovne
Oct 8, 2025•—

GM88: Cycles of Promise and Pain: Argentina’s Unfinished Lesson ft. Nicolas Dujovne

SI368: Valuation Has Left the Room ft. Cem Karsan & Alan Dunne
Oct 4, 2025•—

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

IL42: Redefining Sovereignty in a Borderless Financial System ft. Zoe Liu
Oct 1, 2025•—

IL42: Redefining Sovereignty in a Borderless Financial System ft. Zoe Liu

SI367: Portfolio Design in a Distorted World ft. Andrew Beer
Sep 27, 2025•—

SI367: Portfolio Design in a Distorted World ft. Andrew Beer

UGO06: Democratizing the Asymmetric Trade ft. Vlad Tenev
Sep 24, 2025•—

UGO06: Democratizing the Asymmetric Trade ft. Vlad Tenev

También te puede gustar