Hi Michael, my name is Charlie, I’m writing to You from Poland, Central Europe, nearly 300 km from the Vilnius you were talking about in Your recent podcast. BTW Your surname ‘Covel’ is probably Polish and Lithuanian ‘kowal’, which is…a blacksmith. I’ve read Your books and I really like the idea of trend following, I’m using that technique on Warsaw Stock Exchange for years and US market for past 7 months. My TWR is 22,5% with max. drawdown -2,69%. I wanted to ask uou a question: in your opinion how big [of a] portfolio (in USD) has an average US citizen, who is about 30-35 years old, after higher education, working in a big private business (banks, big industry companies)? Is it approximately 50k USD, 100k USD or maybe 500k USD? I’m just looking for an opinion, I’m not interested in averages, statistics and so on. I’m just wondering what is the difference in size of portfolio between a well-educated and let’s say successful guy in central Europe and USA. Thanks in advance for Your reply
Charlie, there is no way to give such a number. See: trendfollowing.com/capital.
Note: How do I pronounce my last name? Co-vell. “Co” rhymes with toe. “Vell” rhymes with bell. Equally accented each syllable. It was shortened from Covalesky, which was shortened originally from Kavaliauskas. Lithuanian my father’s side.