Richard Brennan returns today to discuss the misconception of volatility as risk, thoughts on the various measures of risk, drawdowns as an opportunity ‘buy the dip’ in Trend Following strategies, how Richard thinks about risk, the relationship between volatility and risk, and the differences between convergent and divergent traders.
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In this episode, we discuss:
Why volatility might not always mean that a model is risky
The best way to measure true risk
How to 'buy the dip'
What Richard thinks about risk
The relationship between volatility and risk
Convergent versus divergent trading

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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 https://www.toptradersunplugged.com/Ultimate (here).
And you can get a free copy of my latest book “The Many Flavors of Trend Following” https://www.toptradersunplugged.com/flavor (here).
Learn more about the Trend Barometer https://www.toptradersunplugged.com/resources/market-trends/ (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 https://www.toptradersunplugged.com/reviewttu (iTunes) or https://open.spotify.com/show/2OnOvLbIV3AttbFLxuoaBW (Spotify) so more people can discover the podcast.
Follow Rich on https://twitter.com/RichB118 (Twitter).
Episode TimeStamps:
00:00 – Intro
01:58 – Announcement of very special Systematic Investor episodes over Christmas featuring Niels, Jerry, Moritz, Rob & Rich together for the first time
02:23 – A huge thank you to listeners of the show, such as Dave W, for leaving your 5-star reviews on iTunes, and feel free to share this link with 3 of your like-minded friends: https://top-traders-unplugged.captivate.fm/listen (https://top-traders-unplugged.captivate.fm/listen)

02:57 – Macro recap from Niels
06:04 – Weekly review of performance
16:19 – Drawdowns as an opportunity ‘buy the dip’ in the Trend Following strategies
23:10 – Check out our upcoming midweek-episode with guests Cam Harvey and Rob Carver
24:25 – How Richard thinks about ‘risk’
43:41 – The relationship between volatility and risk
59:20 – Convergence versus divergence
01:06:51 – Benchmark performance update
Copyright © 2022 – CMC AG – All Rights Reserved
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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. https://www.toptradersunplugged.com/resources/ebooks/ (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! https://www.toptradersunplugged.com/resources/market-trends/ (Click Here)
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