GM51: Allocating Assets when Goldilocks Inverse ft. Christian Mueller-Glissmann

<p>Goldman Sachs Head of Asset Allocation Research, Christian Mueller-Glissmann shares his current investment framework with Cem Karsan and I today. It's an important conversation as it touches on so many of the most important questions that investors, individual as well as institutional, are faced with right now. How we as investors should allocate our capital taking into account the ever changing Global Macro regimes was fascinating to explore, with one of the sharpest thinkers on this topic. Like Cem and I, you will be impressed with the depth of research and knowledge that Christian shared in our conversation. </p><p><strong>-----</strong></p><p><strong>50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - </strong><a href="https://dunncapital.com/DUNN%2050-Year%20Book-TTU" rel="noopener noreferrer" target="_blank"><strong>CLICK HERE</strong></a></p><p>-----</p><p><br /></p><p>Follow Niels on <a href="https://twitter.com/toptraderslive" rel="noopener noreferrer" target="_blank"><strong>Twitter</strong></a>, <a href="https://www.linkedin.com/in/nielskaastruplarsen" rel="noopener noreferrer" target="_blank"><strong>LinkedIn</strong></a>, <a href="https://www.youtube.com/user/toptraderslive" rel="noopener noreferrer" target="_blank"><strong>YouTube</strong></a><strong> </strong>or via the <a href="https://www.toptradersunplugged.com/" rel="noopener noreferrer" target="_blank"><strong>TTU website</strong></a>.</p><p><strong>IT’s TRUE </strong>? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written&nbsp;<a href="https://www.toptradersunplugged.com/Ultimate" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</p><p>And you can get a free copy of my latest book “<strong>Ten Reasons to Add Trend Following to Your Portfolio</strong>” <a href="https://www.toptradersunplugged.com/10-reasons-shownotes" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</p><p>Learn more about the Trend Barometer <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</p><p>Send your questions to&nbsp;<a href="mailto:info@toptradersunplugged.com%22%20%5Ct%20%22_blank" rel="noopener noreferrer" target="_blank">info@toptradersunplugged.com</a></p><p>And please <strong>share this episode</strong> with a like-minded friend and <strong>leave an honest Rating &amp; Review</strong> on&nbsp;<a href="https://www.toptradersunplugged.com/reviewttu" rel="noopener noreferrer" target="_blank"><strong>iTunes</strong></a>&nbsp;or <a href="https://open.spotify.com/show/2OnOvLbIV3AttbFLxuoaBW" rel="noopener noreferrer" target="_blank"><strong>Spotify</strong></a> so more people can discover the podcast.</p><p>Follow Cem on <a href="https://twitter.com/jam_croissant" rel="noopener noreferrer" target="_blank">Twitter</a>.</p><p>Follow Christian on <a href="https://www.linkedin.com/in/christian-mueller-glissmann-34a278/?originalSubdomain=uk" rel="noopener noreferrer" target="_blank">LinkedIn.</a></p><p><strong>Episode TimeStamps: </strong></p><p><strong>02:33 </strong>- Introduction to Christian Mueller-Glissmann</p><p><strong>04:05 </strong>- The global macro perspective</p><p><strong>08:13 </strong>- The changing relationship between stocks and bonds</p><p><strong>12:25 </strong>- Structural and cyclical issues</p><p><strong>21:35 </strong>- Is this inflation different?</p><p><strong>28:15 </strong>- The lag of structural effects</p><p><strong>32:04 </strong>- The age of abundance</p><p><strong>36:45 </strong>- Time to shift back to active management</p><p><strong>43:10 </strong>- The introduction of derivatives and how it affects the economy</p><p><strong>52:21 </strong>- A move away from bonds and how it will affect us</p><p><strong>01:00:06 </strong>- Does the interest cycle exist?</p><p><strong>01:00:52 </strong>- The Dynamic Balanced Bear</p><p><strong>01:03:21 </strong>- Final thoughts</p><p>Copyright © 2025 – CMC AG – All Rights Reserved</p><p>----</p><p><strong>PLUS:</strong> Whenever you're ready... here are 3 ways I can help you in your investment Journey:</p><p><strong>1. eBooks that cover key topics that you need to know about </strong></p><p>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. <a href="https://www.toptradersunplugged.com/resources/ebooks/" rel="noopener noreferrer" target="_blank"><strong>Click Here</strong></a></p><p><strong>2. Daily Trend Barometer and Market Score </strong></p><p>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! <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank"><strong>Click Here</strong></a></p><p><strong>3. Other Resources that can help you</strong></p><p>And 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. <a href="https://www.toptradersunplugged.com/resources/" rel="noopener noreferrer" target="_blank"><strong>Click Here</strong></a></p><p><a href="https://www.toptradersunplugged.com/legal/privacy-policy/" rel="noopener noreferrer" target="_blank">Privacy Policy</a></p><p><a href="https://www.toptradersunplugged.com/disclaimer/" rel="noopener noreferrer" target="_blank">Disclaimer</a></p>