Dave Druz has never told his story... not like this, not anywhere. For over 40 years, he traded quietly, systematically, and on his own terms. No marketing, no headlines, no need to explain. Until now. In this unique conversation with Moritz Seibert, Dave - Ed Seykota’s first apprentice - shares how he built his approach, why he never identified as a trend follower, and what matters when your edge comes from standing opposite commercial hedgers. He explains why portfolio construction outranks entries, why volatility is the price of real risk, and why staying small was a choice, not a limitation. From medicine to markets, from apprenticeship to independence, this isn’t just how he traded - it’s why he stayed silent, and why he’s speaking now.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - <a href="https://dunncapital.com/DUNN%2050-Year%20Book-TTU" rel="noopener noreferrer" target="_blank">CLICK HERE</a>-----Follow Niels on <a href="https://twitter.com/toptraderslive" rel="noopener noreferrer" target="_blank">Twitter</a>, <a href="https://www.linkedin.com/in/nielskaastruplarsen" rel="noopener noreferrer" target="_blank">LinkedIn</a>, <a href="https://www.youtube.com/user/toptraderslive" rel="noopener noreferrer" target="_blank">YouTube</a> or via the <a href="https://www.toptradersunplugged.com/" rel="noopener noreferrer" target="_blank">TTU website</a>.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&nbsp;<a href="https://www.toptradersunplugged.com/Ultimate" rel="noopener noreferrer" target="_blank">here</a>.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” <a href="https://www.toptradersunplugged.com/10-reasons-shownotes" rel="noopener noreferrer" target="_blank">here</a>.Learn more about the Trend Barometer <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank">here</a>.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>And please share this episode with a like-minded friend and leave an honest Rating & Review on&nbsp;<a href="https://www.toptradersunplugged.com/reviewttu" rel="noopener noreferrer" target="_blank">iTunes</a>&nbsp;or <a href="https://open.spotify.com/show/2OnOvLbIV3AttbFLxuoaBW" rel="noopener noreferrer" target="_blank">Spotify</a> so more people can discover the podcast.Follow Moritz on <a href="https://twitter.com/moritzseibert" rel="noopener noreferrer" target="_blank">Twitter</a>.Read more about <a href="https://tacticalnet.com/WhoIsTactical.html" rel="noopener noreferrer" target="_blank">David.</a>Episode TimeStamps:02:11 - Introduction to Dave Druz13:50 - Druz' time in the Commodities Corporation19:14 - How did Druz discover trend following?23:57 - The core philosophy behind Druz' trend following strategy28:08 - Who wins and loses in the markets?37:37 - Determining hedging flows in commodity markets41:03 - Managing money in trend following43:40 - How does Druz size a position and get out of it?45:16 - Coping with a high level of volatility50:23 - Mitigate drawdown or take the ride?55:20 - Put your affection on portfolio selection58:19 - Mastering systems59:50 - Druz' approach to market selection01:08:33 - Sizing signals optimally01:12:43 - A new way of running an investing business01:19:24 - Creating a personalized portfolio with an edge01:28:36 - Why Tactical is no longer a businessCopyright © 2025 – 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. <a href="https://www.toptradersunplugged.com/resources/ebooks/" rel="noopener noreferrer" target="_blank">Click Here</a>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! <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank">Click Here</a>3. 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. <a href="https://www.toptradersunplugged.com/resources/" rel="noopener noreferrer" target="_blank">Click Here</a><a href="https://www.toptradersunplugged.com/legal/privacy-policy/" rel="noopener noreferrer" target="_blank">Privacy Policy</a><a href="https://www.toptradersunplugged.com/disclaimer/" rel="noopener noreferrer" target="_blank">Disclaimer</a>

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