TTU154: Why Trend Following Isn't Crash Insurance ft. Philippe Jordan

What if one of the biggest misconceptions about trend following is what investors expect it to do? Niels Kaastrup-Larsen and Alan Dunne are joined by Philippe Jordan, President of CFM, for a conversation that challenges conventional thinking about systematic investing. Drawing on 35 years of experience, Philippe explains why even the most sophisticated models sometimes need human judgment, how AI is transforming the search for alpha, and why diversification matters more than any single strategy. They also explore the limits of scientific approaches to markets, the importance of investment culture, and why trend following’s greatest value may have little to do with protecting investors from the next crash.-----JOIN THE TREND FOLLOWING MANIFESTO BOOK LAUNCH LIST TO GET SPECIAL LOW PRICE ON OUR UPCOMING BOOK DURING THE FIRST WEEK! - 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.comAnd 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.Follow Philippe on LinkedIn.Find out more about DUNN CapitalEpisode Timestamps:00:00 - Why trend following isn't crash insurance01:05 - Can investment flows create lasting market edges?02:33 - Philippe Jordan and the evolution of CFM08:06 - What scientific models miss during extreme market crises13:56 - Why CFM moved beyond traditional trend following16:28 - Scientific rigor and the growing power of technology20:51 - Why investment culture matters as much as technology25:05 - How AI agents are transforming quantitative research28:29 - Balancing model robustness with diversification33:13 - The case for systematic investing beyond equity returns42:08 - Alternative markets and the search for genuine diversification50:48 - Knowing when human judgment should override the models55:07 - How CFM has reinvented trend following58:36 - What investors should realistically expect from trend following01:02:23 - The long-term reality of trend following returnsCopyright © 2026 – 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 Here2. 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 Here3. Other Resources that can help youAnd 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 HerePrivacy PolicyDisclaimer

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