Episode 515 is another “Mega episode.” It is a culmination of interviews comprised of four of the most successful trend following traders alive today: Ewan Kirk, Jean-Philippe Bouchaud, Martin Lueck and Christopher Cruden. Ewan Kirk is the head of Cantab Capital and has brought his firm from $30M AUM in 2006 to over $5B today. Kirk employs several strategies but clearly uses a trend following foundation. Jean-Philippe Bouchaud is founder and Chairman of Capital Fund Management (CFM) and professor of physics at École polytechnique. Martin Lueck holds an M.A. in Physics from Oxford University and currently is the Research Director and President of Aspect Capital. Lueck was originally with Adam, Harding and Lueck Limited (AHL), which he co-founded with Michael Adam and David Harding. Christopher Cruden has been in the trend following space for over 25 years. In 1988 he became a Director of Adam, Harding and Lueck Asset Management Ltd (AHL). He is currently the head of Insch Capital Management. In this episode of Trend Following Radio: Importance of consistent marginal improvements Understanding a client’s drivers Benefits the economy, society, and the world Randomness is everything Discretionary traders Losses are statistically inevitable Holy grails in trading Behavioral biases Volatility as measuring risk Exploiting vs. Exploring Tail risk premia vs. Pure alpha Behavioral economics Systematic trading Price action Benchmark selection Time period selection Markets teach humility     Time management