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Ep. 313: Jean-Philippe Bouchaud Interview with Michael Covel on Trend Following Radio

Jean-Philippe Bouchaud
Jean-Philippe Bouchaud

My guest today is Jean-Philippe Bouchaud, a French physicist. He is co-founder and Chairman of Capital Fund Management, adjunct professor at École Normale Supérieure and co-director of the CFM-Imperial Institute of Quantitative Finance at Imperial College London.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • His firm’s performance for 2014
  • Whether trend following actually “died” prior to it’s “reappearance” in 2014
  • What trend following manages to exploit
  • Exploiting vs. exploring
  • Looking at volatility as a precursor to profit
  • Volatility as a measure of risk
  • Trend following as a genuine market anomaly
  • The behavioral biases in play as oil has fallen fifty percent plus
  • The feedback Bouchaud has received from peers on his newest paper
  • Whether other strategies exploit a genuine market anomaly
  • Bouchaud’s philosophy on transparency and “secrets” in his work
  • Why Bouchaud’s work culture is not a culture of MBA’s

Listen to this episode:

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Gaining Experience in the World of Trend Following

A recent exchange:

Listener: I would enjoy the opportunity to gain lots of experience in the world of trend following. I would like to explore the opportunity of offering my employment services free of charge to anyone (yourself included) who could benefit from the services of a young, ambitious, intelligent and entrepreneurial spirit. I need to change my family’s life. We are a young family of 5 with a 7, 2 and 5 month old. My wife and I have discussed this at length, and I am ready to put in 24 hr days anywhere in the world. I have been an entrepreneur all my life. I am not scared to work. I am willing to relocate if you would agree that any opportunity presenting itself warrants it, or work remotely on any endeavour where I can gain more knowledge and some first hand experience. I am sure this is not the first email of this type that you have received. But mark my words, I am willing to give my all to anyone who needs assistance and help them make a lot of money! I just want to learn this business and learn from the best players in the industry if possible. I am ready for this. I have been on the outside looking in for way too long. I want to make the leap but do not have the experience. I am available any time of day or night to discuss this in further detail if necessary. 2015 needs to be a fresh start for me and my family. I am ready to give my all to whomever could use a hard worker in their business.

Covel: You have gone through all of my books and all of my podcast? My first big question.

Listener: No I have not completed all of the books and podcasts as of yet. I am completing the books and will have to start the podcasts. Admittedly, I have only ever listened to one podcast in my whole life which was one in which you were a guest speaker and that was via YouTube. I will commit to reading all of the books and listening to all of the podcasts by Wednesday Jan 14th at midnight. I will email you with my progress by 9am est on Wed Jan 15th or sooner if I complete this task earlier.

Weeks later:

Listener: I am in the process of finishing the books and have a big task of listening to all of the podcasts now. Would you like for me to ensure I have listened to them all before re-contacting you? I apologize for being late as I stated I would email by 9am this morning.

Covel: Sure, but you will also have many answers then.

Listener: Not sure I follow what you have said. Sorry. I had originally contacted you asking if you had any ideas or opportunities for employment or for me to enter the field and then you had asked if I read the books and listened to the podcasts.

Covel: Exactly. Your question will go a long way to being answered if you follow my instructions.


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.

Can’t Argue the Facts

Feedback in:

Hey Mike!

Just a quick one to say thanks for your podcast and your work. Just finished your book and have been listening to your podcast for about 6 months now. I’ve been studying in a share trading diploma here in Australia to get me started but as I’ve progressed I’ve noticed so many holes in the theories surrounding market timing in particular. I haven’t been content to just assume these methods work.

I’m a huge Oakland A’s fan and I’m a big sabermetrics guy. Trend Following looked like the most logical method of trading to me, but once you compared it to baseball it concreted it in my mind. It’s logical! You can’t argue a point (very well) with qualitative data. In my mind that applies to everything in life…. so why not trading?

Appreciate your insights.

[Name]

Thanks.


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.

Also jump in:

Trend Following Podcast Guests
Frequently Asked Questions
Performance
Research
Markets to Trade
Crisis Times
Trading Technology
About Us

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. 310: Daniel Simons Interview with Michael Covel on Trend Following Radio

Daniel Simons
Daniel Simons

My guest today is Daniel Simons, an experimental psychologist, cognitive scientist, and Professor in the Department of Psychology and the Beckman Institute for Advanced Science and Technology at the University of Illinois. Simons is most well known for his work on change blindness and inattentional blindness, two surprising examples of how people can be unaware of information right in front of their eyes. His research interests also include visual cognition, perception, memory, attention, and awareness.

The topics are experimental psychology and cognitive science.

In this episode of Trend Following Radio we discuss:

  • Simons’ YouTube success
  • The definition of inattentional blindness
  • Why our intuition about our own minds is often wrong
  • Money managers and weather forecasters
  • Serial tasking, multitasking, and focus
  • How Simons became immersed in this area of study
  • Memory and attention, and the myths and misconceptions surrounding them
  • The notion of intuition, gut decisions, and Simons’ thoughts on Malcolm Gladwell’s “Blink”
  • The idea of preparation in relation to expert performance
  • The science behind eyewitness testimony
  • How our minds don’t work the way we think they do

Listen to this episode:

Jump in!

The Real Big “Short”

trend following crude oil


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.

Also jump in:

Trend Following Podcast Guests
Frequently Asked Questions
Performance
Research
Markets to Trade
Crisis Times
Trading Technology
About Us

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.

New Trader Feedback

Feedback in:

Dear Mr. Covel, Thank you for taking the time to read and reply to my emails in the past. I admire you and what you do. Thank you for the wealth of education and the opportunity to dive deep into the world of trend following.

I would enjoy the opportunity to gain lots of experience in the world of trend following. I would like to explore the opportunity of offering my employment services free of charge to anyone (yourself included) who could benefit from the services of a young, ambitious, intelligent and entrepreneurial spirit.

My family’s life needs a change. We are a young family of 5 with a 7, 2 and 5 month old. My wife and I have discussed this at length, and I am ready to put in 24 hr days anywhere in the world. I have been an entrepreneur all my life. I am not scared to work. I am willing to relocate if you would agree that any opportunity presenting itself warrants it, or work remotely on any endeavour where I can gain more knowledge and some first hand experience.

I am sure this is not the first email of this type that you have received. But mark my words, I am willing to give my all to anyone who needs assistance and help them make a lot of money!

I am available any time of day or night to discuss this in further detail if necessary. 2015 needs to be a fresh start for me and my family. I am ready to give my all to whomever could use a hard worker in their business.

With Regards,
[Name]

Gone through all of my books and all of my podcast?

My first big question.


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.

Also jump in:

Trend Following Podcast Guests
Frequently Asked Questions
Performance
Research
Markets to Trade
Crisis Times
Trading Technology
About Us

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. 308: Lawrence Delevingne, CNBC and Trend Following with Michael Covel on Trend Following Radio

Lawrence Delevingne, CNBC and Trend Following with Michael Covel on Trend Following Radio
Lawrence Delevingne, CNBC and Trend Following with Michael Covel on Trend Following Radio

Please enjoy my monologue Lawrence Delevingne, CNBC and Trend Following with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Listen to this episode:

Want to learn more Trend Following? Watch my video here.

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