{"podcast":{"title":"Top Traders Unplugged","slug":"top-traders-unplugged-761537","podcast_index_feed_id":761537,"rss_url":"https://feeds.captivate.fm/top-traders-unplugged/","website_url":"https://www.toptradersunplugged.com","image_url":"https://artwork.captivate.fm/bfa6862a-fa82-47dc-992e-4d07b053c894/ttu-logo-3000.jpg","author":"Niels Kaastrup-Larsen","episode_count":953,"summary":"Top Traders Unplugged is where the world’s best investors come to share how they think - not just what they trade. Hosted by Niels Kaastrup-Larsen, the show goes deep into systematic trend following, global macro, and the principles that drive long-term success. No forecasts. No fads. Just real conversations with hedge fund managers, economists, authors, and allocators - revealing the timeless ideas, mental models, and risk frameworks behind robust performance. If you're building resilient portfolios, allocating capital, or simply looking to cut through the noise - this is your edge. Clear thinking. Deep insights. Real experience. 🎧 New episodes weekly. Explore all episodes at toptradersunplugged.com https://toptradersunplugged.com","last_synced_at":"2026-08-01T12:21:31.022736+00:00","page_url":"https://stenobird.com/podcast/top-traders-unplugged-761537"},"episode":{"title":"SI397: The Market Isn’t Free Anymore, It’s Being Managed ft. Cem Karsan","slug":"si397-the-market-isn-t-free-anymore-it-s-being-managed-ft-cem-karsan","published_at":"2026-04-25T04:00:00+00:00","page_url":"https://stenobird.com/podcast/top-traders-unplugged-761537/si397-the-market-isn-t-free-anymore-it-s-being-managed-ft-cem-karsan","show_page_url":"https://stenobird.com/podcast/top-traders-unplugged-761537","url":"http://localhost:8888/TopTradersUnplugged/ttu-2021/homepage/cem-karsan","audio_url":"https://episodes.captivate.fm/episode/767a5f0e-c28a-4fc1-9449-b03d0f8fb053.mp3","summary":"Today Cem Karsan and Niels Kaastrup-Larsen examine a market environment where politics, geopolitics and liquidity are becoming harder to separate. Cem argues that recent market strength is not just a reaction to better news, but part of a broader effort to manage risk, support collateral values and prepare for deeper geopolitical stress. From rising military spending and the Strait of Hormuz to treasury demand, QIS growth, AI and the next inflation wave, this conversation is about what happens when markets stop being passive observers and become tools in a larger strategic contest. ----- 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 Cem on Twitter . Episode TimeStamps: 00:00:01 - Introduction to Top Traders Unplugged 00:00:35 - Niels and Cem reconnect and set the stage 00:01:51 - Truth, narratives and the blurring of reality 00:04:15 - Fed independence, politics and credibility 00:07:45 - The rise of QIS and demand for alternative strategies 00:12:52 - Trend following update and current market performance 00:15:23 - Framing the disconnect between markets and reality 00:20:09 - Liquidity, market rallies and strategic…","meta_description":"Today Cem Karsan and Niels Kaastrup-Larsen examine a market environment where politics, geopolitics and liquidity are becoming harder to separate. Cem arg…","key_points":[],"chapters":[],"topics":[],"duration_seconds":4307,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/top-traders-unplugged-761537/episodes/si397-the-market-isn-t-free-anymore-it-s-being-managed-ft-cem-karsan/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/top-traders-unplugged-761537/si397-the-market-isn-t-free-anymore-it-s-being-managed-ft-cem-karsan.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}