‘Think like a farmer’: how Transtrend rode out the Hormuz shock
Talking Heads 2026: Transtrend’s Toni Budimir on shifting correlations, staying diversified – and knowing when to stop calculating
This article is part of our annual Talking Heads series of interviews
In the days after US strikes on Iran over the last weekend of February, the markets Transtrend trades stopped behaving like separate entities. Bonds, the dollar, oil and grains moved together as correlations across asset classes climbed towards one.
For a trend follower whose risk management rests on diversification, that first
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