SI393: The Illusion of Control in Modern Markets ft. Yoav Git

Markets often appear logical in hindsight, yet behave unpredictably in real time. In this episode, Niels and Yoav explore how recent events, from geopolitical shocks to shifting narratives, reveal the limits of traditional explanations. They discuss why assets like gold and bonds no longer react as expected, how flows and positioning can dominate price action, and why dispersion across managers increases during periods of stress. The conversation also examines the role of machine learning, the impact of volatility on execution, and the challenges of managing risk in fast moving markets. At its core, this is about navigating uncertainty when structure and narrative begin to diverge. ----- 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 to the series 01:19 - What is on the radar: markets and recent developments 01:19 - The EM algorithm and its relevance to machine learning 04:12 - Election narratives and unpredictability in real world outcomes 06:51 - Gold, war, and why markets react unexpectedly 09:07 - Inflation narrative vs risk off reality 14:13 - Bond equity correlation breaking down 17:29 - Fixed income volatility and regime uncertainty 24:58 - Oil curve dynamics and supply constraints 27:39 - Risk management differences between discretionary and systematic 37:23 - Market flows, positioning, and forced liquidations 41:30 - Excess volatility and what really drives markets 49:36 - Trend vs value vs noise traders explained 56:34 - Diversification, capacity, and portfolio construction Copyright © 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 have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here 2. Daily Trend Barometer and Market Score One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here 3. Other Resources that can help you And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here Privacy Policy Disclaimer

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SI393: The Illusion of Control in Modern Markets ft. Yoav Git is an episode from Top Traders Unplugged by Niels Kaastrup-Larsen.

This episode is 01:05:13 long.

This episode was published on Mar 28, 2026.

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