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Ep. 245: Jerry Parker Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Jerry Parker
Jerry Parker

My guest today is Jerry Parker, an original Turtle, trained by Richard Dennis. However, since then he has very successfully run a managed money firm called Chesapeake Capital.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Mean reversion trading
  • What the definition of momentum trading is compared to trend following
  • Why “good enough” is more rigorous than any metric
  • How the intervention of the Fed has broken up trends and made volatility drop in markets
  • How the idea of uncertainty and talking in probabilities makes people uncomfortable
  • The difference between managed futures and trend following
  • Why buy and hold is predicated on trust of the Fed
  • Why trend followers don’t look to “beat” the market

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jerry parker chesapeake capital

Ep. 244: Walter Williams Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Walter Williams
Walter Williams

My guest today is Walter Williams, an American economist, commentator, and academic. He is the John M. Olin Distinguished Professor of Economics at George Mason University, as well as a syndicated columnist and author known for his libertarian views.

The topics are liberty and economics.

In this episode of Trend Following Radio we discuss:

  • Why Williams calls himself a radical
  • The morality of markets
  • The welfare state and bailouts
  • How Williams didn’t “think poor” growing up
  • The nefarious aspect of minimum wage
  • How Williams stayed positive and avoided bitterness despite opposition
  • Malcolm X. and Martin Luther King, Jr.
  • Why there’s no poverty in the United States
  • How Williams felt about the Fall of 2008 and the bailouts that took place
  • How we got to the point where people want to trust the state so much
  • How Williams has developed a thick skin to deal with the criticism of his radical nature

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“How does something immoral, when done privately, become moral when it is done collectively? Furthermore, does legality establish morality? Slavery was legal; apartheid is legal; Stalinist, Nazi, and Maoist purges were legal. Clearly, the fact of legality does not justify these crimes. Legality, alone, cannot be the talisman of moral people.”

Ep. 243: John Mauldin Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
John Mauldin
John Mauldin

My guest today is John Mauldin, a noted financial expert, a New York Times best-selling author, a pioneering online commentator, and the publisher of one of the most widely read investment newsletters in the world.

The topic is finance.

In this episode of Trend Following Radio we discuss:

  • Credit card rates and zero interest rate policy
  • The improper use of credit
  • Debt spirals
  • Central bank policies that keep whipsaw periods going
  • The actions in Japan and how they can spread across the world
  • The justifications that Mauldin sees behind the scenes
  • Black swans and boom-bust periods
  • How the 2008 financial crisis wasn’t a true black swan event
  • The “why” behind zero interest rate policy
  • The specter of Keynesianism over the world

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Ep. 240: Nir Eyal Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Nir Eyal
Nir Eyal

My guest today is Nir Eyal, an educator, author, and entrepreneur who is all about connecting psychology, technology, and business.

The topic is his book Hooked: How To Build Habit Forming Products.

In this episode of Trend Following Radio we discuss:

  • How behavior and habits can be engineered, and how technology changes our behavior
  • The moral implications of habit forming activities
  • The difference between habits and addictions
  • Breaking “the hook”
  • The four areas that “the hook” goes through: trigger, action, variable reward, and investment
  • The IKEA example and how value can be built
  • Eyal’s mentors and influences
  • The importance of social feedback from your community
  • The WhatsApp deal, and how to deal with your “insane jealousy” of the messaging app deal
  • Getting equal pay for equal work, and how that might be embedded in our DNA
  • The importance of interface changes when it comes to revolutionary changes in technology

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Ep. 239: Brett Steenbarger Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Brett Steenbarger
Brett Steenbarger

My guest today is Brett Steenbarger, a Clinical Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • What a “flow state” is, and why it’s important
  • How Steenbarger has seen flow connect to the trading world, and the importance of matching your level of difficulty and challenge
  • Risk and risk tolerance
  • The logical and psychological sides to risk
  • “What have you done for me lately” attitude for investors
  • Why we don’t grow if we stay within our comfort zones
  • Process vs. outcome
  • The psychological burden of certain fee structures
  • Some of the common characteristics of successful traders
  • Slow thinking, deep thinking, and fast thinking
  • Where we’re headed regarding prescription drugs related to the mind
  • Trend trading vs. mean reversion
  • Contextualism
  • Trend following vs. momentum trading
  • How people actually behave vs. how they describe their behavior

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Ep. 238: Larry Hite and Alex Greyserman Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Larry Hite and Alex Greyserman
Larry Hite and Alex Greyserman

My guests today are Larry Hite and Alex Greyserman.

Hite is a hedge fund manager and is one of the forefathers of system trading. He was famously featured in the Market Wizards book. A few years ago he started ISAM with Stanley Fink. Greyserman has 25 years of experience in the CTA industry, and was originally hired by Larry Hite at Mint.

Greyserman is Chief Scientist at ISAM (PhD in Statistics). He is also a professor at Columbia University.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Singapore, and Covel’s recent excursions in Asia
  • How the game has stayed the same despite zero interest rate policy
  • What people are missing when they say “trend following is dead”
  • How you’ll never get perfection
  • Their 800 year study, the premise, and what was found out
  • Measuring human nature
  • The difference between divergent and convergent strategies
  • Risk management
  • Having “perfect” knowledge
  • Using long trends and getting whipsawed in shorter trends
  • The asset class of trend following compared to the NASDAQ buy and hold, etc.
  • What’s changed about human nature through all the booms and busts
  • Insurance, hedging your risk, and the risk transference process
  • Asymmetrical leverage
  • Adjusting to new environments
  • How those that survive are the most adaptable to the environment
  • How trend following automatically adjusts to what’s happening

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Ep. 237: Sharon Moalem Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Sharon Moalem
Sharon Moalem

My guest today is Sharon Moalem, a physician and author. Moalem’s previous book, “Survival Of The Sickest”, was a New York Times bestseller.

The topic is his book Inheritance: How Our Genes Change Our Lives, and Our Lives Change Our Genes.

In this episode of Trend Following Radio we discuss:

  • Rafael Nadal as an example of digging deep in genetics
  • How our bodies are constantly in a state of deconstruction and reconstruction
  • How DNA is under constant modification
  • Genetic personalized medicine
  • “Jeff the chef” and an example of specific dietary needs
  • Dysmorphology and analyzing the hands, feet, and face of an individual
  • Gregor Mendel and his pea experiments in genetics
  • How your behavior can dictate your genetic destiny
  • The future of personalized genetic medicine
  • Critics and misunderstandings of genetics
  • Vitamins on an individual basis

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