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Going The Extra Mile and Trend Following

Do you really want to be in a box with millions of traders and investors with the same training, technique and style (i.e. fundamentals, forecasts, buy and hold, talking heads, etc.)? Richard Dennis danced to a different beat and his creation of the Turtles landed him in the hall of fame. Dennis relayed one of his quirks that helped set him apart:

“I used to go to bed with a book of charts,and just flip through them before I went to sleep. I wasn’t trying to analyze or interpret them, just retain them so that my mind could work on them while I slept.”

Who knows if this exercise worked? What matters is that he was so fired up about being great and forever improving, that he was OK with experimenting and trying out new new things. What will you do differently today? Ludwig von Mises nailed it:

“The class of those who have the ability to think their own thoughts is separated by an unbridgeable gulf from the class of those who cannot.”

True that.

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Posted in Psychology, Trend Following
One comment on “Going The Extra Mile and Trend Following
  1. Jim Rohrbach says:

    Michael: In the podcast we did together you seemed to be trying to find out what in my background qualified or led me to be a successful market timer. The statement “The class of those who have the ability to think their own thoughts….” above
    holds the key to success. I did not have any training in Trend Following or Market Timing, but I was able to create a Market Timing Strategy that has successfully identified changes in the trend of the stock market for over 40 years. I am sure you had no formal training in Trend Following, but you seem to be doing okay. I help a lot of people with the difficult task of identifying changes in the trend of the stock market, and they love me. Now I not only identify changes in the trend of the stock market, but I can also identify changes in the trend of individual stocks. At a glance, I can tell the precise day when the trend of the stock turned up or turned down, and I can tell whether I should be in or out of that stock. Yes, I can do it with Apple, Gold, or Silver. I have been on a Buy Signal for the NYSE since 11-23-12

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