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Ep. 1167: The Prince of the Pits with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Rough Seas of Dennis
In 1983, when his assets under management peaked at over $25 million, his accounts for clients hit turbulence. After a 53% rise in January, accounts dropped 33% in February and March. George Soros yanked the $2 million he had invested with Dennis only two months earlier. It took many of his investors more than two years to get back to even with their investment. Most didn't stick around, and Dennis closed down some accounts in 1984.
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