Katy Kaminski returns to explore why results in trend following rarely look alike, even when the rules sound the same. Using fresh research from Man Group and Quantica, she and Niels trace the fingerprints of design choices: the pace of signals, how portfolios tilt, whether to add carry, and the impact of alternative markets. Along the way they connect these differences to today’s landscape, from the Fed’s looming decision to Europe’s bond jitters, from gas and power’s outsized role in recent Alternative CTA returns to the risks of crowding. It’s a clear-eyed discussion about how systematic strategies evolve - and why dispersion matters. Get Your FREE Copy of the latest Research Paper from DUNN Capital . ----- 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 Katy on LinkedIn . Episode TimeStamps: 01:12 - What has caught our attention recently? 06:44 - Industry performance update 12:01 - How different can managers really be in the trend following space? 22:30 - Is Andrew Beer onto something about the sharpe ratio of trend indices? 24:26 - Why Katy and Alex are obsessed with return dispersion 30:34 - What drives dispersion the most? 32:41 - Designing a trend following benchmark 35:46 - Quantifying turbulence in CTAs 39:46 - The importance of simplicity as a CTA 42:30...
