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Category: Interviews

Ep. 29: Mike Dever Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Mike Dever
Mike Dever

My guest today is Mike Dever, an American businessman, futures trader, entrepreneur, and author. Dever is the founder and CEO of Brandywine Asset Management, Inc., an investment management firm founded in 1982.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Being an entrepreneur from an early age and making his first investments in his early 20s
  • Some of the myths discussed in “Jackass Investing”
  • How everybody is a market timer
  • The stigma against investing in futures
  • Return drivers
  • The risks you take by being risk averse
  • The shift in attitudes towards volatility in America
  • Why strategies based on sound return drivers are so important to his firm and where he’s at today

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Ep. 27: Scott Patterson Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Scott Patterson
Scott Patterson

My guest today is Scott Patterson, an American financial journalist and bestselling author. Patterson has made a career of reporting the subterranean inner-workings of the markets, writing for the Wall Street Journal, Rolling Stone, and Mother Earth News. His first book, The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It, was released in 2010.

The topic is his book Dark Pools: High-Speed Traders, A.I. Bandits, and the Threat to the Global Financial System.

In this episode of Trend Following Radio we discuss:

  • Trace the history of high speed trading and electronic communication networks (ECNs) back to Josh Levine, who founded Island, the computer system that led to the high frequency trading we see today
  • Technological revolution behind Island, and how its transparency led to dark pools – opaque markets where bids and offers are not made public
  • Patterson goes on to propose that the entire market has gone dark
  • The relation of dark pools to the flash crash
  • The regulation of dark pools
  • How the real New York Stock Exchange is in a data center in the countryside of New Jersey

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Ep. 19: Todd Miller Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Todd Miller
Todd Miller

My guest today is Todd Miller, a trader who runs a systematic trend following firm, Availeth Capital, with partner Jim Byers. Availeth is a small fund which was started in February 2011, and Covel relates Miller’s start to his chapter in ‘The Little Book of Trading’ on trader David Druz.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • How Miller got his start working at Fidelity, and how observing the annual returns of one of Fidelity’s biggest mutual funds after the tech bubble burst led him to adopting a trend following mindset
  • The path he took that eventually led him to starting Availeth Capital
  • Importance of in-person interaction
  • The issue of survivorship bias
  • How trend following is the only strategy that can take advantage of the uncertainty that is coming
  • How some trend following traders have followed other passions once they’ve made their billions
  • Covel also discusses his upcoming 10,000 (!) page book, Trend Following Analytics.

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Ep. 5: Nick Radge Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Nick Radge
Nick Radge

My guest today is Nick Radge. Nick has been trading and investing since 1985. During this time Nick has worked for numerous international investment banks and spent time on the trading floor of the Sydney Futures Exchange. In 1998 Nick returned to Australia and started his own hedge fund and until 2005 he was an Associate Director at Macquarie Bank.

The topic is his book Unholy Grails – A New Road to Wealth.

In this episode of Trend Following Radio we discuss:

  • Nick’s beginnings
  • The analogy of hitchhiking to trading
  • The necessary emotional constitution needed to successfully stick with a trend following trading strategy
  • The popularity of algorithmic trading jargon
  • Risk management

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Ep. 3: Charles Faulkner Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Charles Faulkner
Charles Faulkner

My guest today is Charles Faulkner, a trader, mentor and author who has been featured in Jack Schwager’s “Market Wizards” series. Faulkner is an international expert on modeling the knowledge and performance of exceptional individuals, teams and organizations, and applying the latest research in cognitive neuroscience and linguistics.

The topic is trading psychology.

In this episode of Trend Following Radio we discuss:

  • Mental mapping, risk, expertise, the metaphor of trading to motorcycling, and how human nature and biology influence investment decisions

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Ep. 1: Mike Dever Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Michael Dever
Michael Dever

My guest today is Mike Dever, an American businessman, futures trader, entrepreneur, and author. Dever is the founder and CEO of Brandywine Asset Management, Inc., an investment management firm founded in 1982.

The topic is Trend Following.

Listen to this episode:

Bernard Drury: Grain Trader Turned Trend Following Trader

Posted on by Michael Covel

Bernard Drury (PDF) is a trend trader today, but he started as a fundamental grain trader. He is in my new book.

Disclaimers:

Our firm can not promise you will earn like returns of traders, charts or examples (real or hypothetical) mentioned. All past performance is not necessarily an indication of future results. Data presented is for educational purposes. This information is not designed to be used as an invitation for investment with any adviser profiled. All data on this site is direct from the CFTC, SEC, Yahoo Finance, Google, IASG and disclosure documents by managers mentioned herein. We assume all data to be accurate, but assume no responsibility for errors, omissions or clerical errors made by sources.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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