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Michael Covel's Trend Following
Ep. 1211: Second Generation TurtleTrader with Michael Covel on Trend Following Radio
Sep 1, 2023
This podcast explores the success of second generation turtle traders, including Salem Abraham. It delves into their trading strategies, their journey from small towns to successful traders, and Abraham's trading philosophy. The episode also discusses Abraham's hiring practices, entrepreneurial tenacity, and failed water deal negotiation. It concludes with insights on recognizing opportunities and developing a 'killer instinct' for success.
38:38
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Quick takeaways
- Salem Abraham achieved remarkable trading performance despite lacking prior experience or a Wall Street background, highlighting the success of second generation turtle traders.
- The podcast emphasizes the significance of trend following as a trading strategy, challenging the notion of efficient markets and stressing the importance of managing risk.
Deep dives
Salem Abraham: A Second Generation Turtle Trader
Chapter 13 of the book 'The Complete Turtle Trader' explores the concept of second generation turtle traders who learned the trend following strategy from the original turtle traders. Four successful second generation traders are highlighted, including Salem Abraham. Despite lacking prior trading experience or a Wall Street background, Abraham achieved impressive trading performance, with his annual returns ranging from negative 10.5% to 142.04% between 1988 and 2006.
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Discover
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