Interview With Michael Covel: Masters in Business (Audio)
Jan 8, 2016
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Michael Covel, founder of TurtleTrader.com, discusses trend trading, the success of 'turtle traders', podcasting benefits, cognitive errors in trading, challenges in broadcasting, living in Asia, drawdowns in trading, encounters with Woz, lottery revenue impact, creating art legacy, societal/economic contrasts between America and Asia, and insights on finance and investing psychology.
Structured training and discipline can mold successful traders, as seen in the turtle traders' experiment.
Michael Covell's expertise in trend trading and admiration for successful traders offer unique insights.
The podcast emphasizes disciplined trading approaches, risk management, and psychological impact on investment decisions.
Insights on risk management, investment success measurement, and advice for millennials entering the finance industry.
Deep dives
Trade Finance and Risk Management Services Offered by The Hartford
The Hartford offers insurance coverage tailored to mid to large size companies, empowering them to manage risk across various sectors like liability, property, and workers comp. The company focuses on safeguarding unique aspects of businesses through its expertise and diverse coverage options.
Mike Covell: Expert in Trend Following and Commodities Trading
Mike Covell, an esteemed figure in trend following, has authored best-sellers and shares insights from interacting with renowned futures traders. His in-depth knowledge on trend trading and experience in commodity markets, along with his admiration for successful traders like Richard Dennis, adds a unique perspective to the conversation.
The Turtle Traders: An Experiment in Training Commodities Traders
The fascinating story of the turtle traders, influenced by Richard Dennis's experiment to train traders with no prior experience, proves that disciplined training, risk management, and adherence to specific rules can cultivate successful traders. The experiment challenged the notion of whether traders are born or made, showcasing the effectiveness of a structured approach in achieving trading success.
Insights on Trading Strategies and Human Behavior from Barry Rittholz's Podcast
Barry Rittholz's podcast delves into trading strategies, human behavior, and psychological insights from notable guests like Michael Covell and Douglas Emlin. The discussions highlight the importance of disciplined trading approaches, risk management, and understanding the impact of psychology on investment decisions. Guests share diverse experiences and perspectives, offering valuable lessons for traders and investors alike.
Influence of Global Differences on Investment Attitude
Observations on the contrasting attitudes towards investment in Asia, with insights on Chinese day traders and the Chinese sovereign wealth fund's shift in investment approach. The podcast highlights the energy and competitiveness prevalent in Asia's investment landscape, offering a comparison with Western approaches towards risk and growth.
Insights on Investing and Risk Management
Discussions on risk management in trading and investment strategies, including references to trend following traders like Bill Dunn, David Harding, and their influence on the speaker's approach to deploying capital. The podcast delves into the importance of measuring success in investing and the impact of market dynamics on investment performance.
Advice for Aspiring Finance Professionals
In the podcast, advice is provided for millennials and recent graduates entering the finance industry, emphasizing the need for self-reliance, expertise development, and a strategic mindset in navigating the competitive financial landscape. Insights on fostering a strong psychological understanding of investing and the human condition are highlighted as keys to long-term success in the field.
Jan. 8 (Bloomberg) -- Bloomberg View columnist Barry Ritholtz interviews Michael Covel, co-founder of TurtleTrader.com and author of Trend Following: Learn to Make Millions in Up or Down Markets. They discuss turtle trading rules. This interview aired on Bloomberg Radio.
