Mike, I picked up your podcast [feed] a month ago or so and have really been enjoying the content. I have since ordered a couple of your books and look forward to reading them. Thank you for sharing your thoughts & creating a platform for such objective, honest, and critical thinking across a broad range of topics. I ran across a book that you might find interesting by Jordan Ellenberg, “How to Not Be Wrong: The Power of Mathematical Thinking”. If you have read it, I would be interested in your thoughts or reflections. If not, I hope you get the chance to read it.
Thank you again for sharing!
[Name]
Have not seen it. Will take a look! Thanks for the nice words.
My guests today are Nigol Koulajian and Donald Wieczorek.
Nigol Koulajian’s firm is Quest Partners, LLC and is approaching one billion AUM. Koulajian has a very interesting take on trend following–specifically his take on replicating famous trend following strategies.
Donald Wieczorek is the Founder and President of Purple Valley Capital, Inc. He officially launched PVC and began managing client capital professionally using his systematic risk management strategy. He is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
Koulajian and Covel discuss Koulajian’s background and entrepreneurism within Lebanese culture; how Koulajian got his start, and how he found his way into the systematic strategies he employs today; the influence of Van Tharp; the importance of practices like transcendental meditation and yoga on the mental side of trading and in the context of Koulajian’s work today as a fund manager. the S&P 500 as a trading system; crowd psychology; replication strategies; price action as a trigger for different strategies; volatility, volatility compression, and why volatility is not the way to measure risk in the markets anymore; the Flash Crash; and trend following as a hedge to equity risk.
Covel and Wieczorek discuss Wieczorek’s early track record; Salem Abraham; drawdowns; Wieczorek’s first exposure to trend following; why losing early in your trading career can be a good thing; why you don’t need to predict market movement to make money; Jack Schwager and the Market Wizards series; and why systematic trading is more than just the technical system. Next, Covel and Wieczorek break apart some of Wieczorek’s monthly performance windows (trendfollowing.com/don.pdf), picking apart the psychology and context of certain months in Wieczorek’s career. Covel and Wieczorek continue on to talk about correlation between famous trend following traders; volatility and risk; and the value of crisis alpha.
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The State Episode with Doug Casey and Charles Hugh Smith with Michael Covel on Trend Following Radio
My guests today are Doug Casey and Charles Hugh Smith.
Casey is the founder and chairman of Casey Research, a provider of paid subscription newsletter services espousing libertarian viewpoints as the justification for the purchase of highly speculative microcap stocks, precious metals, and other investments.
Smith is an American writer and blogger. He is the chief writer for the site “Of Two Minds”. Started in 2005, this site has been listed No. 7 in CNBC’s top alternative financial sites. Smith’s economic works stress the value and efficacy of decentralizing power and wealth, the individual’s power of self-determination and the value of community, which in his view has been diminished by the state.
The topics are state power and central planning.
In this episode of Trend Following Radio we discuss:
Casey and Covel discuss what it’s like having traveled to over 175 countries and where one can find social and economic liberty today in this world; the advantages of being a perpetual tourist; why Casey describes himself as an anarchist; if whether there is a purpose anymore to voting in the United States of America; loyalty to the country where you were born; those who rule out the possibility of a financial panic in the future; quantitative easing and currency debasement; and what was the trigger for Casey’s turn at life as a global traveler.
Smith and Covel discuss how winners and are being selected by the state as exemplified by the 2008 financial crisis; alliances between corporations and the state; why there might be an uproar if equity markets were not at all-time highs; what happens when the typical wage earner can no longer substitute debt for earned income; stagnant wages and tradable labor; building your life around non state controlled opportunities; the decentralization of power and wealth; and the reliance on secrecy in politics to avoid accountability.
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My guest today is Christopher Cruden, Cruden has been in the trend following space for over 25 years. In 1988 he became a Director of Adam, Harding and Lueck Asset Management Ltd (AHL) in London, a famed trend following shop. He is currently the head of Insch Capital Management.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
Why price is an unimpeachable fact
Early “lightbulb” moments that brought Cruden to the style of trading he practices today
The notion of going currency only
Why Cruden’s program is akin to a raincoat in bad weather
Riding increased volatility and increased directional trending
Getting clients to understand that you cannot force a system to make money
Benchmark selection and time period selection
Why the S&P 500 is a trading system; performance drivers
The duration of trades
Why if you can’t measure it, you can’t manage it
How Cruden’s strategy would change if Europe reverted back to before the introduction of the Euro
How markets teach humility
Why Cruden only trades once a day
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Saw this article and immediately thought about trend following. There are the obvious aspects like being systematic, following the trend lines and thinking for the longer term. The interesting part was the discussion of the retiree and the temptation of the markets to derail his disciplined approach. I see the temptation of the markets being the greatest enemy to the discipline required to be a trend-following trader. Please enjoy.
Thanks,
[Name]
PS. Thanks for you all your work. It’s really appreciated.
My guest today is Steven Kotler, an American bestselling author, journalist, and entrepreneur. His articles have appeared in over 70 publications, including The New York Times Magazine, LA Times, Wired, GQ, Discover, Popular Science, Outside, Men’s Journal, Details and National Geographic Adventure. He is best known for his non-fiction books, including the New York Times bestseller Abundance, A Small Furry Prayer, and West of Jesus.
The topic is his book The Rise of Superman: Decoding the Science of Ultimate Human Performance.
In this episode of Trend Following Radio we discuss:
Synonyms for flow
Flow in basketball and other sports
Group flow
Pattern recognition
The neurological explanation for flow
The four stages of flow
Why flow is not just a binary state
Spiritual experiences compared to flow states
Brain activity during flow states; the “deep now”
Getting to the flow state with drugs
The flow state and the act of being on stage
Why you need to take risks to get into flow
Social fear, risk, and pain vs. physical fear, risk, and pain
Method acting, screen presence, and flow
The military and flow research
Risk and comfort
The balance between challenges and skills
Getting comfortable with being uncomfortable
The fight or flight mindset
Future research into flow
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