Acknowledgments 1 Ignition 3 Expectations 9 Jargon 11 Show Me the Money 15 Blowing Bubbles 25 Speculari 29 Fundamentals Are Religion 33 Everything Flows 39 Systematic Trend Following 41 Change 45 No Prediction 47 Price Action 51 Place Your Bet 55 Trading Systems 59 Trade Everything 65 Drawdown 69 Entry 73 This Way to the Egress 75 Losers Average Losers 79 Home Run 81 Robust 85 Push the Button 87 Wash, Rinse, Repeat 91 Zero-Sum 95 Crash and Burn 97 Inefficient Markets 101 Benchmark 105 Haters 109 The Root of All Evil 113 Panicky Sheep 117 IQ vs. EQ 123 Commitment 127 Decide Now 131 Science 135 Statistical Thinking 137 Aha! 143 Hero Worship 147 Buy and Hope 151 Convert 155 Oracle of Omaha 157 A Seinfeld Moment 161 Snow Job 165 Twit Me a River 169 Goldline 173 Intoxication 175 Parliament of Whores 181 Crowded House 185 Black Box 187 Lucky Monkey 189 Honest 193 Under the Radar 199 Ethos 201 Games People Play 205 Blood Hound 207 Epilogue 211 Extras 213 Surprise, Surprise, Surprise 215 Origins 221 Cheat Sheet 235 Quick Commandments 239 Bibliography 242 Endnotes 246 About Trend Following & Michael Covel 265 Index 267
Michael Covel is the author of five books: including the international bestseller, Trend Following and his investigative narrative, The Complete TurtleTrader. Fascinated by traders that quietly generate spectacular returns, those going against the grain of investment orthodoxy, he has uncovered astonishing insights about how they think, strategize and execute their systems. His cutting-edge and unorthodox perspectives have garnered international acclaim and have earned him invitations with: China Asset Management Co., Ltd., GIC Private Limited (Singapore sovereign wealth fund), BM&F Bovespa, Managed Funds Association, Bank of China Investment Management, Market Technicians Association. He also has the distinction of interviewing four Nobel Prize winners in economics, including Daniel Kahneman and Harry Markowitz and has been featured by major press, including: The Wall Street Journal, Bloomberg, CCTV, The Straits Times and Fox Business. Covel's Trend Following Podcast now has over 2.5M listens (trendfollowing.com/podcast) and has ranked as high as #2 on iTunes. He splits his time across USA and Asia and sees location independence as our future.