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Category: Trading 101

Ep. 332: Brian Proctor Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel

My guest today is Brian Proctor, an original TurtleTrader trained by Richard Dennis and Bill Eckhardt and today is a Managing Director at EMC Capital. He began his futures career in 1982, with experience at both the Chicago Mercantile Exchange and Chicago Board of Trade. Proctor was a participant in the renowned Turtle Program, and managed all trading operations at C&D Commodities through 2000.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Proctor’s first trading moments and the Turtle program
  • Proctor’s view on Liz Cheval, what she brought to his firm, and why she’s still an integral part of EMC today
  • How trend following strategies have continued to excel over the years
  • Diversification and the Swiss franc
  • Black swans and how the impossible can and does happen
  • Bill Eckhardt’s influence

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Ep. 331: Douglas Emlen Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Douglas Emlen
Douglas Emlen

My guest today is Douglas Emlen, a professor at the University of Montana. He is the recipient of the Presidential Early Career Award in Science and Engineering from the Office of Science and Technology Policy at the White House. He has also earned multiple research awards from the National Science Foundation, including their five-year CAREER award.

The topic is his book Animal Weapons: The Evolution of Battle.

In this episode of Trend Following Radio we discuss:

  • Taking our lessons from animals
  • The connection with human and animal arms races
  • International hacking
  • Comparing the fiddler crap to US and USSR bombers during the cold war
  • Defining evolutionary biology
  • How an arms race can run its course via the example of the sabertooth tiger
  • The arms race in the trading world
  • How the cuttlefish has found its way around the “alpha” system
  • Finding “workarounds” when the deck is stacked against you
  • War games and detente
  • Why predictability in weapons is important
  • One-on-one showdowns
  • The importance of being nimble

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Ep. 330: Nigol Koulajian Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Nigol Koulajian
Nigol Koulajian

 

My guest today is Nigol Koulajian, the Founder and Chief Investment Officer of Quest Partners LLC. He has been designing and trading short-term and long-term technical systems for over 22 years.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Trend following performance in 2014
  • Volatility vs. skew
  • Why having a good Sharpe Ratio is not the be-all-end-all
  • The notion that alpha in the CTA world is not a result of skill
  • Correlation between tail risk and the Sharpe Ratio
  • Central bank action and the Swiss Franc
  • Why trend following may not be as good in equity market corrections now as it has been in the past
  • Why trend following is not about the super-complicated mathematics
  • Getting outsiders to understand drawdowns
  • Emotional intelligence vs. intellectual intelligence
  • Media bias against trend following

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Ep. 328: Robert Seawright Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Robert Seawright
Robert Seawright

My guest today is Robert Seawright, the Chief Investment & Information Officer for Madison Avenue Securities, a boutique broker-dealer and investment advisory firm headquartered in San Diego, California. Seawright is also a columnist for Research magazine, a Contributing Editor at Portfolioist as well as a contributor to the Financial Times, The Big Picture, The Wall Street Journal’s MarketWatch, Pragmatic Capitalism, and ThinkAdvisor.

The topic is his blog A New Kind Of Investment Outlook.

In this episode of Trend Following Radio we discuss:

  • How Seawright was able to put together this blog piece
  • Perfection and prediction
  • Bias blindness
  • Volatility vs. risk
  • Separating your politics from your investing
  • Financial media as entertainment
  • Whether Seawright encountered any pushback after putting out his article
  • Letting go of the high leverage idea
  • Why the more we trade
  • The worse we do
  • Nobel laureate David Baltimore
  • Adversarial collaboration

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Systematic trend following exploits market moves without the noise of expectations and conventional wisdom.

Posted on by Michael Covel

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

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Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Ep. 327: Susan Polgar Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Susan Polgar
Susan Polgar

My guests today are Susan Polgar and Douglas Goldstein.

Susan Polgar, American chess grandmaster, and Douglas Goldstein, Certified Financial Planner, had the unique idea of looking at chess and applying the wisdom to investing.

The topic is their book Rich As A King: How the Wisdom of Chess Can Make You a Grandmaster of Investing.

In this episode of Trend Following Radio we discuss:

  • Polgar’s early history as a four-year-old chess playing prodigy, and the trouble some older males had in accepting her; nurture vs. nature; the connection between the Turtle story and chess; the skills that chess provides outside of just playing the game; the importance of keeping your emotions in check; process vs. outcome; and thinking through the possibilities from a chess perspective.
  • Douglas Goldstein, Covel discusses how the idea came about to combine finance with chess in a book; tactics vs. strategy; and pattern recognition

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Ep. 326: Kabir Sehgal Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Kabir Sehgal
Kabir Sehgal

My guest today is Kabir Sehgal, a New York Times bestselling author and Grammy Award-winning producer. He is currently a vice president at JPMorgan Chase. Sehgal’s new book, Coined: The Rich Life of Money and How Its History Has Shaped Us, caught Covel’s eye. This is a subject layered in complexity and depth. Just about everything that goes on in our lives is decided by money and Sehgal digs into its story on a micro level.

The topic is his book Coined: The Rich Life of Money and How Its History Has Shaped Us.

In this episode of Trend Following Radio we discuss:

  • Sehgal’s history
  • Sehgal’s experience winning a Grammy for production and the idea of “no boxes”
  • Why Sehgal sees his life like a jazz composition
  • Defining money as a symbol of value
  • The neurological effects and artistic aspects of money
  • The currency of the natural world
  • Whether Sehgal sees “money as the root of all evil”
  • The idea of charity
  • The politics of money
  • The internationalization of currency
  • Hyperinflation
  • Gold, and Sehgal’s experience going to the basement of the New York Fed
  • Digital money and bitcoin

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