Ep. 672: Winning Big Requires Belief with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Turtle Trader's Story
In the early 1980s, Chicago's reigning trader King Richard Dennis decided to conduct his real-life social experiment. In order for Dennis to find his special breed of student guinea pigs, he circumvented conventional recruitment methods. His firm budgeted $15,000 for classified ads in the Wall Street Journal and Barons seeking trainees during late fall 1983 and 1984. Successful candidates will then trade solely for Mr. Dennis. They will not be allowed to trade futures for themselves or others. Partners will be paid a percentage of their trading profits and will be allowed a small draw.
Play episode from 17:31
Transcript
