Top Traders Unplugged

SI387: The Cost-Benefit of Being Trendy ft. Andrew Beer & Tom Wrobel

22 snips
Feb 14, 2026
Guest
Tom Wrobel
Guest
Andrew Beer
Tom Wrobel, a researcher on trend following and systematic strategies, and Andrew Beer, a systematic investor and allocator, discuss model design and the tradeoffs between short and long horizon signals. They debate implementation costs, why CTAs sometimes miss big moves like gold, and the pitfalls of liquid alternatives and product innovation. They end optimistic about persistent trends ahead.
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INSIGHT

AI Will Raise Allocator Sophistication

  • AI will be a pervasive disruptor and is likely positive for trend following by improving allocators' sophistication.
  • Andrew Beer expects AI to help allocators identify strategies like managed futures more efficiently.
INSIGHT

US Exceptionalism Is Reassessed Globally

  • Perception of US exceptionalism has shifted and non-US investors now reassess US risk differently.
  • Tom Wrobel notes currency moves meant US-dollar returns didn't translate equally for foreign investors in 2025.
INSIGHT

Selective Markets Drove Trend Returns

  • 2025 trends were concentrated in a few markets, so risk allocation and market selection mattered greatly.
  • Tom Wrobel highlights precious metals and selective equities as dominant drivers rather than broad market trends.
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