Feedback in:

Hi Michael, Again, appreciate everything. You are a great teacher and mentor. I do not miss a podcast.

My only beef is a compliment. More rants needed. Your last I found very insightful. Uncorrelated returns is of particular interest because our fund has demonstrated miniscule correlation to both indexes and peers. We have run a relatively net short healthcare fund since inception 9 years ago, and have managed to survive and perform. The most difficult task has been differentiating ourselves to potential investors while the entire sector rages higher. Fortunately, the right investors have taken notice and our assets have gone from 50M to 230M in 18 months. What I found particularly compelling and coincidental about your rant is that we were recently sought out by a huge institution looking to build a book of 10 managers with track records of double digit annual returns with little correlation. That institution is [name] Capital (did not hear from me). The manager discussed the strategy to us, although not as concise and eloquent as you did in 20 minutes. Would love to see that piece if you have it handy, thanks.

Also, need to make it out to Ho Chi Minh City. You sell the single life out there well.

Thanks for the feedback.

BTW, looks like my single life ended!

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Michael reads some of his favorite quotes circa 1920’s/1930’s from a famed trader. These quotes are timeless bits of wisdom. Michael adds commentary throughout.

In this episode of Trend Following Radio:

• How is the “price” made?
• You will never know all the fundamentals
• Speculation
• Getting mad at the market gets you nowhere
• Bull and bear markets
• Entry and exit signals
• 1920’s wisdom on numbers
• Always be ready to catch that unexpected move
• Follow the price action

“When the markets decide to deliver a cleansing flood, it comes without warning.” – Michael Covel

Mentions & Resources:

• Jesse Livermore
• “Thinking, Fast and Slow” by Daniel Kahneman
• “Superforecasting: The Art and Science of Prediction” by Phil Tetlock
• Richard Donchian

Want a FREE Trend Following DVD? Get it here.

Feedback in:

Hi Mike, I wanted to thank you again for getting me in touch with [name] so I could access the information I was looking for a few months ago. Secondly, I think you do a FANTASTIC job in getting the trend following story out there. I’ve read all of your books and agree that “price is everything.” I am listening to The Complete TurtleTrader now on audible.com. I do subscribe to [name] and use their [name] to find a list of potential stocks but then use ONLY ALL TIME NEW HIGHS as my trigger to get in. I put 5-7% into a starting position, take losses quickly and profits slowly. I began trading stocks at 19 with $9,000 that I had saved up from working a few summers for my grandfather, an antique broker. From 1989 through the crash of 2000, I ran the $9k to $297k without ever adding another dime, by buying new highs and cutting losses while pyramiding into winners. Unfortunately, after doing so well, I began to think I was smarter than the market. Big mistake! I lost $70,000 in the year 2000, and another $12,000 in 2001. Then I got divorced and had to give half of what was left to my ex. I went back to school, and used most of what was left to pay off debt. I recently graduated school, and with the $79,000 that I have left, I am now beginning to trade again. I’m sure I could get better, so I continue to subscribe to your Podcasts, and read new entries on your site regularly. I guess I have been a trend follower since 1989, also until four or five years ago didn’t know that I was, because I never knew what it was called. I just knew what was working for me. Please continue to do what you do, as you are helping us all continue to learn and get better at trading. I have yet to trade anything other than stocks, and options, but as I continue to learn and I would love to apply the strategies to ETFs and maybe even branch into futures or currencies. Thanks again! Whether you know it or not, you are helping thousands of people with your books, website, podcasts, and your accessibility.

[Name]

Thanks!

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