When official data starts serving politics, markets lose their anchor. Alan Dunne and Niels examine the quiet shift unfolding as the U.S. edges closer to emerging market behavior - firing statisticians, sidelining inconvenient numbers, and pressuring the Fed ahead of a consequential leadership reshuffle. With labor supply falling, growth stalling, and tariffs acting as stealth taxes, the Fed’s playbook no longer fits the moment. Behind the scenes, hedge fund power brokers position themselves to shape what comes next. Plus, an unvarnished look at trend following’s drawdown, the lazy critiques making the rounds, and why so many allocators still miss the point. ----- 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 Alan on Twitter . Episode TimeStamps: 01:32 - What has caught our attention recently? 08:53 - Dunne's global macro overview 13:31 - Is our understanding of growth and GDP outdated? 17:52 - The Fed is under threat from multiple angles 21:38 - Dunne's impression of Kevin Warsh as a candidate for Fed chairman 26:43 - An odd juxtaposition with hedge fund titans' influences on the Fed 32:35 - Industry performance update 37:30 - Our takeaways from The Wall Street Journal's article on Trend Following 43:35 - Why should investors even consider managed futures in the first place? 45:40 - Has Dunne ever been on the verge of cutting trend? 52:08 - Do long term investors really need diversifiers? Copyright © 2025 – CMC AG – All...
