SI399: AI, Inflation and the Portfolio That Refuses to Sit Still ft. Alan Dunne
Top Traders Unplugged
UK Local Elections and Economic Implications
Alan reviews Reform UK's surge, implications for gilt yields, immigration policy and the trade-off between social and economic goals.
Today, Niels and Alan examine a market shaped by two forces pulling in opposite directions: AI’s promise of higher productivity and the inflationary pressure of geopolitical stress. From distorted economic data and shifting rate expectations to energy shocks, fiscal pressure, and the changing role of trend following, this conversation explores why traditional portfolios may need more flexibility than they once did. Alan also shares a world exclusive on the launch of his Regime Adaptive Fund, built around the idea that portfolios should not simply sit through changing regimes, but adjust as markets, inflation, and correlations evolve. A timely discussion on risk, resilience, and the limits of old playbooks.
-----
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 Twitter.
Episode TimeStamps:
00:00 - Introduction to Top Traders Unplugged
00:36 - Niels welcomes Alan Dunne back to the Systematic Investor Series
01:31 - How AI is distorting economic data, earnings, and construction trends
06:13 - UK council elections, Reform UK, and pressure on political assumptions
09:00 - Trend following update and the shift in fixed income exposure
13:35 - Why recent macro shocks have created a favorable backdrop for trend followers
16:45 - AI, Iran, and the collision between positive and negative supply shocks
26:22 - Graham Capital’s research on macro performance across monetary regimes
37:09 - AQR’s view on multi-asset portfolios, trend following, and inflation risk
46:07 - Why diversification still comes with discomfort
51:26 - Should trend following trade equities when stacked on equities?
56:38 - Alan reveals the launch of the Regime Adaptive Fund
01:05:42 - Equity market strength, hidden risks, and portfolio construction today
01:08:46 - Closing thoughts and upcoming episode preview
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
The AI-powered Podcast Player
