TTU14: “You’re going to make a lot of money doing this…” ft. Jerry Parker – 2of2
Top Traders Unplugged
Introduction
A conversation with Jerry Parker, founder and president of Chesapeake Capital, continues as they discuss the performance and misconceptions of multi-billion dollar CTAs. They also touch upon the desire for complexity in managers and the underperformance of CTAs compared to the stock market.
Today we will continue our conversation with Jerry Parker the founder of Chesapeake Capital and widely known as the most successful Turtle ever.
After wrapping up his position with Richard J. Dennis as a famous “Turtle,” he went on to start his own asset management firm, Chesapeake Capital Corporation.
In this episode we discuss the evolving CTA industry and the story of Chesapeake. It’s a powerful story from one of the most successful people in the industry. We really hope you enjoy it.
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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
In This Episode, You’ll Learn:
- How the research and complexity of systems has a backwards effect to making money
- Challenges with entering stock markets with CTA strategies
- Why counting the trades and analyzing sample size is what most investors forget to ask when seeking fund managers
- Where the CTA managers have failed investors
- How Jerry Parker handles emotions during drawdowns
- Why markets have changed so that longer term focus has proven more successful
- Learn about the philosophy of “The Markets are the Heroes”
- Important lessons from a long, successful career in the CTA industry
- What is it that keeps investors from Turtle CTAs and choose larger financial organizations
- Why we see a skewed distribution towards profitability of long side trades and short side trades
- The key legacy traits left behind by the Turtles and if the experiment could be replicated now
- Why Jerry Parker’s contribution to the CTA space will be that he sticks with the plan and be the last one going down with the trend following ship
- Lessons for upcoming CTA managers from Jerry Parker
- Debunking trading cliches like, “you never go broke taking a profit” and “exits are more important than entries”
- Personal habits that have contributed to Jerry Parker’s success
- How Jerry Parker would start if he were to start all over again
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Resources & Links Mentioned in this Episode:
- Ray Dalio – Bridgewater Capital
- Learn about Jerry Parker’s Acting “Career” on his IMDB page
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
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