I just finished reading Trend Following and enjoy your podcast. Turns out you were right. Trend following is the scapegoat during market swings. (But I still believe). This Bloomberg article about CTAs popped up on my apple news feed today:
Go long the dollar, Treasuries and defensive stocks. Sell metals and the pound. It was an investing playbook that worked virtually all year — until suddenly it didn’t. Read the full story.
Thanks for all the hard work and keep fighting the good fight!!
A lady reader who spent time in prison wrote me. Our chat:
READER: Your book was the favorite of all the inmates. There must have been 50 copies. One person decided to hold a class on the book and then more orders came about. People were borrowing it from each other. Some people were mad because others got released and stole them from the library. It was crazy. I just sat back and laughed. I only told certain close friends. Yeah, I know of that guy.
ME: You might have to fill in the blanks here? You had to spend some time in the big house [prison]? And people there were reading my books? Can you name facility? Interesting story.
READER: Yeah, they went nuts for your book. There were several copies in the library till people stole them. You are a rock star!
ME: So which book of mine did well [there]?
READER: The yellow one [TurtleTrader]. That same one. Everyone had it.
ME: Everyone? Lol. That sounds like an exaggeration!
READER: I mean when I would walk in someone’s room it was there. I had a few people that came up to me to read it, “Here you want to read something really good?” I’d laugh. There were 200+ women and about 50 of them had it.
ME: I will probably post a note about this without naming you or the prison.
READER: You should.
ME: Why do they like it?
READER: They all want to trade instead of dealing drugs. Half are drug dealers. They can’t do that anymore. They are used to big money. Few million a year some of them. So they think they will trade when they get out. They study that book [TurtleTrader] like lunatics. The feds confiscate their drug money, they pay millions in attorneys and whatever they have left…they decide to study the market. Your book is the only one chosen. I don’t know why that is because there are a lot of books out there. But they rave about it and recommend it to others in there.
ME: If I had an address and knew it would go to the ladies to hand out…I will send some more copies.
READER: I’ll give you the number and info.
ME: Tell exactly how to label package?
READER: People always leave and say I’ll write. And they never do. Those people [in prison] will be happy to get your book. That’s very kind of you
Please enjoy my monologue This Trend Stuff Won’t Die with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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Listen to this podcast on iTunes. (Please leave a rating!)
My guest today is Sunny Bonnell. Sunny Bonnell and Ashleigh Hansberger are the award-winning founders of Motto, one of the top branding and digital agencies for rule breakers and game changers. They’ve been featured on CBS News and Fox Business and in Entrepreneur, American Express, Chicago Tribune, Forbes, Inc., Huffington Post, the Wall Street Journal, and elsewhere.
The topic is their book Rare Breed: A Guide to Success for the Defiant, Dangerous, and Different.
In this episode of Trend Following Radio:
What if your biggest weaknesses are actually your greatest strengths?
They bring their wisdom and insights to this radical “outside the box” business guide written specifically for the mavericks, oddballs, and visionaries they call Rare Breeds. While most advice guides encourage you to change your inherent characteristics to get the job, get the promotion, get the client, Bonnell and Hansberger identify a different approach: instead of trying to conform, march to the beat of your own drum. By following your own path, you’ll find your success.
My name is Felipe. Last year I went to USA as an exchange student for 5 month and there is where I discovered my passion. I have been reading all of your books. I’m convinced that if you wanna be the 10% you have to do exactly the opposite of the other 90%. Right now I’m managing a really small account with my fathers money. I’m managing my risk, just risking 2% per trade and buying if the price make a 60 days high and selling if it make a 25 days low. I’m writing you because I think that is time to meet a professional, not a fx chat guru. I’m looking for a professional where I can really learn. It could be very helpful if you teach me in this long path. Maybe you will never read this but at least I tried.
Hi Mike I contacted you about 2-3 months ago to let you know that I was getting something from your podcast and that I have been listening to these every week for well over a year now. I have just finished your latest 1 with Nick Radge. I am also an Aussie and I really liked the way this one went. He came across very well and I thought you both interacted well even when just talking about the general stuff like New Zealand. Please pass on my respect or acknowledgment to Nick for talking the time to do that with you, I thought it was a good podcast. When I become a better trader myself I may look him up at some to say hello. I’m only average at this stage, But I’ll get there. On another note I have the 3 books from you here. I’m in a holding pattern at present with my trading as I have to still work. Somebody once told me that working for a living is the quickest way not to have any wealth. That with the fact I’m looking into upgrading my unit here, so I have to sort a couple life things there. So the plan I’m looking forward too in the coning weeks is move into this better place. Then I am taking a heap of weekends off and I’m going to work my way through your books. I want to do this in the nicer environment. On the verandah or something. And really focus. After I finish Trend Following, I’m really looking forward to getting into the Turtle traders (as Nick mentioned as well he really liked that book) and then Market Wizards. This is my to do list in the near future. Take care and I look forward to next weeks podcast.
Please enjoy my monologue The World Doesn’t Care About You 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!)
