I just wanted thank you for your work and your dedication.
I listened to two of your audiobooks (Turtletrader & Trend Following) and now follow your podcast. I just finished listening to Sunday’s podcast with Peter Borish and I felt compelled to just send you a short thank you. I’ve always wanted to pursue trading professionally (long story, have a connection to one of those famous traders you’ve mentioned in your work) and I’m finally in a space where I can trade from a retail account. I’ve been trying to figure out what I should do next and your interviews have helped me rethink what my options are as a person with the passion for markets but not working in the space exclusively. Anyway, I just wanted to thank you and let you know if there is anything I can do for you, please let me know. I’ll work for free, if you need an extra pair of eyes to review some writing or something else. I’m not where I want to be but I wouldn’t be where I am now if it weren’t for all the people who gave their time freely to help me and I want to pay it forward.
Thanks again for taking the risk and leap a faith to pursue your own path.
My guest today is Richard Clarke, the co-author of “Warnings: Finding Cassandras to Stop Catastrophes.” Richard was also the former National Coordinator for Security, Infrastructure Protection and Counter-terrorism for the United States. He worked for the government starting with Ronald Reagan’s Presidency and continued to move up the ladder until he resigned in 2003 under President George W. Bush’s presidency.
The topic is his book Warnings: Finding Cassandras to Stop Catastrophes.
In this episode of Trend Following Radio we discuss:
The Gulf War
Islamist terrorism
World Trade Center bombing
Osama bin Laden
The underestimation of Al-Qaida
Forcing democracy on the world
9-11
War on Iraq
Global Warming
“We invaded Iraq with no legitimate reason to do so… it was complete and utter folly.” – Richard Clarke
Consider from The Babe Ruth Effect: Frequency vs Magnitude (PDF):
“Building a portfolio that can deliver superior performance requires that you evaluate each investment using expected value analysis. What is striking is that the leading thinkers across varied fields — including horse betting, casino gambling, and investing — all emphasize the same point. We call it the Babe Ruth effect: even though Ruth struck out a lot, he was one of baseball’s greatest hitters.”
…about ~6% of investments representing 4.5% of dollars invested generated ~60% of the total returns. Let’s dig into the data a little more to see what separates good VC funds from bad VC funds.
Further from Dixon:
The home runs for good funds are around 20x, but the home runs for great funds are almost 70x. As Bill Gurley says: “Venture capital is not even a home run business. It’s a grand slam business.”
Speculation is not about a consistent 1% a month. That’s fantasy.
My guest today is Peter Borish, the chief strategist of Quad Capital. He works as a trading coach and helps recruit new traders and develop the company’s trading strategy. He also is a founding member of the Robin Hood Foundation. The Robin Hood Foundation has made great strides in their charity work and are continuing to do bigger and better things. Peter believes that the quality of life for those around you is much more important than the material possessions that can be accumulated.
The topic is trading.
In this episode of Trend Following Radio we discuss:
Politics
Robin Hood Foundation
Risk management
Discretionary trading
Having objectivity in your trading
Kelly criteria
Own up to your mistakes
“Everyone trades too large relative to their perceived edge.” – Peter Borish
I enjoy your podcasts, I’ve been a regular listener for the past 2-3 years. You put a lot of care into each episode, and it shows. I’m curious for some behind-the-scenes details in your preparation. Do you write a podcast script? If so, how detailed is it (paragraphs, bullets, etc)? It doesn’t sound like you’re reading from a card or just winging it. How do you strike that balance?
Regards,
[Name]
I have 1 page of notes for an interview. But these days I feel like I use less and less. Monologues? In past I might have had a page of notes, but these days I ponder the issue, turn recorder on and go. It’s technically winging it, but when you do it for so long it’s not really winging it.
My guest today Collin Seow is author of “The Systematic Trader: How I turned a $250,000 debt into profits through stock trading.” He also is a qualified Chartered Portfolio Manager with a Certified Financial Technician qualification, and a member of MENSA Singapore and Technical Analysts Society Singapore.
The topic is his book The Systematic Trader: How I turned a $250,000 debt into profits through stock trading.
In this episode of Trend Following Radio we discuss:
Different types of momentum trading
Singaporean perspective
Risk management
Position trading vs. swing trading
A sense of entitlement in today’s society
“At the end of the day it isn’t about having the right strategy, it’s about having the right mindset.” – Collin Seow
“If you don’t have an edge, how the hell are you suppose to play the game?” – Michael Covel
