I listened to you on The Derivative podcast by Jeff Malec and quickly found your podcasts on trend following. I purchased your book, Trend Following, on Amazon, and it was just delivered today. I love your podcasts. Ironically, before I ever heard about you, I purchased the Vaneck Vectors VNM ETF. I am bullish on Asia. I especially loved your interview with Peter Mallouk.
My guest today is Martin Babinec. He founded Silicon Valley based TriNet in 1988, serving as CEO for the company’s first twenty years and Chairman until 2010. TriNet’s cloud-based HR services help 14,000+ small to midsize companies, and the company has grown to annual sales of $4 billion and is listed on the NYSE. In 1999, Babinec relocated his family from Silicon Valley to his hometown of Little Falls, New York, where he founded Upstate Venture Connect (nonprofit dedicated to accelerating growth of startups across Upstate New York).
The topic is his book More Good Jobs: An Entrepreneur’s Action Plan to Create Change in Your Community.
In this episode of Trend Following Radio we discuss:
Inertia, failure to act on conviction. I’ve recognized quite of few money makers, but didn’t pounce when I knew I should. Apple. Wanted to buy at $97 now over $250 taking into account the stock split. McDonald’s. Wanted to buy 1,000 shares at $12 didn’t now over $200. Knew it was under-priced at time. Google, knew it was can’t miss stock. Didn’t buy it failed to act. Tesla, asleep! Microsoft. Held long time when stagnant, then sold exactly at the wrong time and it’s flying now after I sold position. Exxon still have it. It’s a dinosaur, doomed. Should have exited it sooner. GE still have it watched it lose 50% of value. Another dinosaur company. Bloated with too many far flushed enterprises, bloated executives, debt balloon.
That sounds like a drunken casino strategy. Start here for a different way of thinking.
I retired first of this year, so living the essay life right now. I’d like to be involved with the Markets, but more or less as a hobby (and more profitable than my Beekeeping hobby). I don’t want to be tied to my computer everyday, hopping in and out of trades. I’ve looked at Nick Radge’s weekend trend trade strategy and I do like the approach. My experience has been with Stocks, mostly long, but I would like to learn to short as well as diversify into other markets. Also want to learn how to backtest. I did a good bit of programming in the past, so I think I can pick it up without too much of a struggle. Once this Virus has passed, my wife and I would like to do some traveling and maybe spend part of the winters in friendlier climates. My interest in trading isn’t about getting rich, however, my intention is to be successful and make some money. We are debt-free and have a fair-sized nest egg, and we are currently living off of my pension and social security without having to draw down my IRA’s. I want to do it because I enjoy it; I have always enjoyed dabbling in the market. I’ve been trading, off and on, for probably 20 years, and I’ve finally realized that I need some type of “systematic” approach.
Nancy Upton and Don Sexton pinpointed the traits possessed by entrepreneurs:
1. Nonconformists: lower need to conform indicating self-reliance.
2. Emotionally aloof: not necessarily cold to others, but can be oblivious.
3. Sky divers: lower concern for physical harm, but does change with age.
4. Risk takers: more comfortable taking it.
5. Socially adroit: more persuasive.
6. Autonomous: higher need for independence.
7. Change seekers: like novel approaches. This is different than 99% of all other people.
8. Energetic: higher need and / or ability to work longer.
9. Self-sufficient: don’t need as much sympathy or reassurance, but they still need to form networks so self-sufficiency need not be taken to extremes.
Let’s get concrete. Some favorite entrepreneurial resources:
Please enjoy my monologue Reach Down and Grab Hold with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
Listen to this episode:
Listen to this podcast on iTunes. (Please leave a rating!)
