One step at a time…

Feedback in:

Hi Michael:

I just love listening to your podcast. You’re a joy to listen to, guests are great and I learn a lot.

I have been trading on and off for a couple of years and have not really made any profit with the trading coach I was with but what it helped me realise was trend following is where I feel most comfortable. That combined with reversals.

I’m coach mentioned once that he could not really live off what he makes trading that’s why he has a business. Ok. Truthful.

I have been thinking for a while about whether to buy your programme because I have spent a lot of trading but not really made anything.

I know you will because that’s what I like about you…the raw, no filters monologues.



One step at a time. Learn first, then decide how you will move forward. Telling someone something can’t be done? Not my deal. Read.

To swear or not…

Feedback in:

To swear … or not to swear … that is the question … whether tis more noble to compose and communicate in well chosen words or to abandon them for the cheap whiskey of a profanity …

It is not a matter of being a goody-two-shoes nor is it a matter of a quick apology from a speaker, but, rather, may I suggest, that a speaker risks squandering the value of his message when assuming such a liberty …

Shakespeare wrote, as I recall, in Macbeth … “the evil men do lives after them … the good is often buried with their bones … ” … “evil”, you may be thinking, is a stretch … it’s just part of the quote … to be more gentle, let’s modify the quote … “the profane emphasis men use lives after them … the good … ”

Your work is way too valuable … in your research and publishing “The Complete Turtle Trader” alone, you have succeeded in changing lives … mine, most definitely, in particular … your books and podcasts … excellent … please continue to contribute …

With my best regards and encouragement for your continued work,

Garrison K.

I don’t consider all profanity bad or cheap. It could appear too much. It might not fit somewhere. But it causes me no internal itch or major issue with me. I definitely don’t connect with absolute abstinence of it. Thank for feedback!

“My biggest concern at the moment is: how could I choose optimal stocks for my portfolio…”

Feedback in:

Dear Michael,

Thank you for your email.

I’m impressed. When I subscribed to your newsletter, I wasn’t expecting such a question. I understand you really want to learn, what’s important for the people who read your newsletter; me included.
That’s interesting, thank you! First of all, I’m a software engineer and since about a year, also a trader. I’m trading stocks on the Polish stock market, with help of my personal software.
My biggest concern at the moment is: how could I choose optimal stocks for my portfolio? I already tried a few approaches, including the one that [name] has described in his “[name]”: based on Momentum score and volatility. I know that was mostly educational, and not to use in real scenarios, but still I was expecting better results. These are, at least according to my backtests on [name], not very impressive. What would you recommend for stocks selection? What approaches have you tried so far, and what are you using now?

Looking forward to seeing your newsletter!

A place to start to think about markets. Big picture you need to address more than just a portfolio:

• Exact rules for selecting your tracking portfolio.
• Exact rules for entering your trades at the right time.
• Exact rules for exiting your trades with a loss.
• Exact rules for exiting your trades with a profit.
• Exact rules for how much money to bet on each trade.

Ep. 834: Karim Lakhani and Marco Iansiti Interview with Michael Covel on Trend Following Radio

Karim Lakhani and Marco Iansiti
Karim Lakhani and Marco Iansiti

Subscribe to Trend Following Radio on iTunes

“AI is the ‘runtime’ that is going to shape all of what we do.” –Satya Nadella, CEO, Microsoft

Marco Iansiti and Karim R. Lakhani show how reinventing the firm around data, analytics, and AI removes traditional constraints on scale, scope, and learning that have restricted business growth for hundreds of years. From Airbnb to Ant Financial, Microsoft to Amazon, research shows how AI-driven processes are vastly more scalable than traditional processes, allow massive scope increase, enabling companies to straddle industry boundaries, and create powerful opportunities for learning–to drive ever more accurate, complex, and sophisticated predictions.

When traditional operating constraints are removed, strategy becomes a whole new game, one whose rules and likely outcomes this book will make clear. Iansiti and Lakhani:

• Present a framework for rethinking business and operating models.

• Explain how “collisions” between AI-driven/digital and traditional/analog firms are reshaping competition, altering the structure of our economy, and forcing traditional companies to rearchitect their operating models.

• Explain the opportunities and risks created by digital firms.

• Describe the new challenges and responsibilities for the leaders of both digital and traditional firms.

This is an essential guide for rethinking how your firm competes and operates in the era of AI.

Marco Iansiti, the David Sarnoff Professor of Business Administration at Harvard Business School, also heads the school’s Technology and Operations Management Unit and the Digital Initiative. Iansiti is an expert on digital innovation, with a special focus on strategy and business and operating model transformation. He advises Global 1000 companies on digital strategy and transformation and has conducted research on a variety of organizations, including Microsoft, Facebook, IBM, Amazon, Alibaba, and Google, among many others.

Karim R. Lakhani is the Charles E. Wilson Professor of Business Administration and the Dorothy and Michael Hintze Fellow at Harvard Business School. He is the founder and codirector of the Laboratory for Innovation Science at Harvard, the principal investigator of the NASA Tournament Laboratory at the Harvard Institute for Quantitative Social Science, and the faculty cofounder of the Digital Initiative at HBS. He is also Chair of the Harvard Business Analytics Program. He specializes in technology management and innovation.

In this episode of Trend Following Radio:

  • Competing in the Age of AI: Strategy and Leadership When Algorithms and Networks Run the World

Mentions & Resources:

“I have been loosely following Jesse Livermore’s buy high and sell your losers…”

Feedback in:

Hi Michael-

I read the book! Have been applying the principles and it seems to work at least for the last two months. I have been loosely following Jesse Livermore’s buy high and sell your losers. Thanks to the Turtle Trading concepts I now have a more disciplined approach to manage my investments or trades. Having success with short selling too, however it is testing my resolve to stay the course when the position begins to turn positive.

All the best,

Keep going! More resources.