Please enjoy my monologue Six Feet Under with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
In this episode of Trend Following Radio:
Free lunch myth
Robin Hood myth
Collectivism
Case against equal pay for equal work
“The state is that great fiction by which everyone tries to live at the expense of everyone else.” –Frédéric Bastiat
My guest today is Ted Parkhill. Ted has over 25 years of management experience in the investment business. He is a founding partner of systematic macro investment manager Incline Investment Management (IIM). He is also serves as an Assistant Professor of business at Sierra Nevada College in Incline Village, NV. Prior to IIM he was the director of marketing for Zazove Associates a multi-billion dollar quantitative convertible securities manager. He was a senior marketing executive at John W. Henry & Company one of the original Commodity Trading Advisors.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
It is possible to consistently generate profitable returns through systematic trading
Markets are inefficient and therefore trends materialize
Trends last longer than people think
Prices reflect the sum of the knowledge of all market participants
“…Human nature never changes. Therefore, the stock market never changes. Only the faces, the pockets, the suckers, and the manipulators, the wars, the disasters and the technologies change. The market itself never changes. How can it? Human nature never changes, and human nature runs the market – not reason, not economics, and certainly not logic. It is our human emotions that drive the market, as they do most other things on this planet.” – Jesse Livermore 1940
Napoleon Hill was born in 1883 and died in 1970. He is most known for paving the way for the new thought and personal success movement with his book, “Think and Grow Rich,” which has become one of the best selling books of all time. Its premise is to help people realize they have the power to create success within themselves by way of conscious and unconscious thought. His message is straightforward, pragmatic and clear.
The presentation [featured in Trend Following Radio episode 404] is centered on making a goal and how to use certain tools to achieve that goal. Napoleon starts off by explaining the power of motives. He says you have no right to ask yourself or anyone to do something unless you give an adequate motive. If you give someone a good enough motive to buy something from you or give yourself a a worthwhile reason to achieve a goal you can sell or accomplish anything. You can also trick your mind to believe anything by repetitive action. If you have faith in what you want to accomplish you will accomplish it. On the same note, faith without action is dead and faith without believing is dead. Napoleon believed that 98%-100% of people sell themselves short because they do not believe in themselves. He says, “The power of thought is the only thing humans have absolute control over.” By repetition, thought, and action you can educate your brain to pick up only the vibrations related to what you want. He stresses that you must make sure your subconscious mind knows you are the boss.
The power of motives, thought, and faith in yourself all goes into being able to create and carry out a plan successfully. Napoleon says to write out your major objective in life and give it a timeline. Make sure it is clear and precise. Keep your major purpose to yourself. Your actions speak for themselves, and the envy of mankind can slow you down. Also, leave your plan flexible. Nobody can put limitations on you except for yourself. With that being said, acknowledge your weaknesses but don’t let them overtake you. If you keep your mind positive, it becomes greater than all the negatives.
Feedback in:
Michael,
Thank you, thank you, thank you for posting the podcast interview with Napoleon Hill. In late 1975, I was fortunate enough to read an article in the Chicago Tribune about a man whose life was changed after he read “Think and Grow Rich”. As a recently divorced single Mom, I was so ready to hear his message. “Think and Grow Rich” literally changed my life and it was a joy to hear this man speak after so many years. His work continues to bring amazing gifts into my life and I thank you for reminding me what started it all so many years ago.
Sincerely, [Name]
Please enjoy my monologue The Fight for Liberty 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!)
My guest today is Khoo, a Singaporean serial entrepreneur, author, trainer and a professional stock and FX trader. Khoo became a self-made millionaire at the age of 26, making him one of the youngest millionaires in Singapore. Khoo is the Executive chairman and Chief Master Trainer of Adam Khoo Learning Technologies Group, one of Asia’s largest private educational institutions, which runs educational seminars for over 80,000 people annually in 7 countries.
The topics are Neuro-linguistic programming and Trend Following.
In this episode of Trend Following Radio we discuss:
Neuro-linguistic programming
Technical analysis
Finding the edge
Trend following
Market Wizards
“If you want to change your life in any area, you have to change those habits that are creating those specific results. No matter how many goals you set or how much you believe that you can achieve it, if you don’t change your habitual daily actions, your life will never get better.” –Adam Khoo
The most amazing example of trend following excellence:
Dunn Capital
Disclaimers
Trend Following™ can not promise you will earn the returns of traders, charts or examples (real or hypothetical) stated. All past performance is not necessarily an indication of future results. Data presented is for educational purposes. Our products are also provided for informational purposes only and should not be construed as personalized investment advice. All data on this site is direct from the CFTC, SEC, Yahoo Finance, Google and disclosure documents by managers mentioned herein. Trend Following™ assumes all data to be accurate, but assumes no responsibility for errors, omissions or clerical errors made by sources.
Our testimonials are the words of real clients received in real correspondence that have not been paid for their testimonials. Testimonials are sometimes printed under aliases to protect privacy, and edited for length. Claims have not been independently verified or audited for accuracy. We do not know how much money was risked, what portion of their total portfolio was allocated, or their exact positions. We do not claim that the results experienced by such clients are typical and you will likely have different results.
Trend Following™ is not registered as a securities broker-dealer or an investment adviser. This information is not designed to be used as an invitation for investment with any adviser profiled. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund.
Further, Trend Following™ cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing.
Additionally, Trend Following™ in no way warrants the solvency, financial condition, or investment advisability of any security or instrument. In addition, Trend Following™ accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as a basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor.
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.
Hi Mike, lots of investors these days have short-termitis, the infectious ailment with no know cure that occurs during the end of tired US stock bull markets. Symptoms include questioning fees, demanding explanations for YTD performance and complaints that neighbors are making more than me. Might be interesting to someday ask your A-list managers what they consider short-term and long-term market cycles and/or time frames investors must consider before capitulating on proven non-correlating alpha generating strategies.
The performance data always tells the story better than me.
