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b'In this episode, we discuss the danger of financial products such as the Daily 3x Inverse Natural Gas ETN, the potential end of the 2020 bull market in stocks, Howard Mark\\u2019s recent quotes on managing risk & market cycles, how a Trend Following mentality can have a positive affect on your world-view, patience for your system vs patience for an individual position, and why needing to \\u2018agree\\u2019 with your trades can be a dangerous idea. Questions we answer this week include: How do you avoid losing large open profits during a parabolic move? Is CAGR a good measure of performance?\\nIf you would like to leave us a voicemail to play on the show, you can do so here.\\nLearn more about the Trend Barometer here.\\nIT\'s TRUE \\U0001f440 - most CIO\'s read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here.\\nAnd you can get a free copy of my latest book "The Many Flavors of Trend Following" here.\\nSend your questions to info@toptradersunplugged.com\\nFollow Niels, & Moritz on Twitter:\\n@TopTradersLive & @MoritzSeibert\\nAnd please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast.\\n\\t\\n\\t\\nEpisode Summary\\n \\n0:00 - Intro\\n3:15 - Macro recap from Niels\\n4:10 - Weekly review of returns\\n11:25 - Howard Marks quotes on risk management and market cycles\\n29:11 - Patience for your system vs for an individual position\\n34:36 - Q1; Rene: How do you avoid losing a big profit during a parabolic move?\\n40:10 - Q2 & Q3; Peregrin: Do you have any evidence of systems working better when its positions match our opinion of the macro \\u2018story\\u2019? Does Trend Following system alert its manager to crowd opinions they might otherwise be unaware of?\\n48:48 - Q4; Maurigus: Is CAGR a good measure of performance?\\n57:06 - Performance recap\\n\\tSubscribe on:'