My guest today is Jerry Parker. In 1983, Parker was accepted into the Turtle Program, a select investment training program developed by successful Chicago portfolio manager Richard Dennis. He appears in Covel's "The Complete TurtleTrader" and has been the most successful TurtleTrader. Parker founded Chesapeake Capital Corporation, a global investment manager headquartered in Richmond, Virginia, in 1988.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

Mistake of combining different strategies with trend following, and the importance of having a concentrated strategy that you can rely on
How discretionary moves can get in the way of your system, and "systematized discretion"
The psychological effect of following a trend following strategy for decades
The idea of going for positive expected value over what's least risky
Why Parker doesn't like to use the term "managed futures", and why it doesn't really tell the story of trend followers
Trend followers performing well at different points in time compared to long-only
Using trend following as another strategy for investors who only invest through a long-only value-based system
The importance of not letting your views on politics and society influence your trading, and maintaining a systematic and disciplined approach
The growth of news media since 1984, information overflow, limiting your variables, and using price as your primary indicator
How Parker has learned over the years to deal with drawdowns, loving your losses, and the importance the Turtle program played in his education on drawdowns
Why governments are the ultimate counter-trend traders
Why buy and hold is not a good place to be even if people are saying it's turned around
Parker's stock-only trend following program, and why the diversified program will do better than the stock-only system
Leverage as a tool

Jump in!

---

I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Federal Court Strikes Down CA’s Three Decade Old Assault Weapon Ban, Will It Matter?