Michael Covel | |
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Born | |
Alma mater | George Mason University (B.A.) Florida State University (M.B.A.) |
Notable work | Trend Following The Complete TurtleTrader Trend Commandments The Little Book of Trading |
Website | MichaelCovel.com |
Michael W. Covel (born September 1, 1968) is a bestselling author, entrepreneur, and film director. [1] [2] In 1996, he co-founded TurtleTrader.com, later expanded into TrendFollowing.com, a popular online resource focused on investment style known as trend following, which allows investors to profit in both up and down markets. [3] [4] [5]
Covel was born in Quantico, Virginia. [2] He graduated with a B.A. in Politics and Government from George Mason University and received his M.B.A. from Florida State University. [2] [3]
Covel's first book was Trend Following: Learn to Make Millions in Up or Down Markets (FT Press, April 2004, Nov. 2005, Mar. 2007, Mar. 2009) featuring traders David Harding, John W. Henry, Ed Seykota, Richard Donchian, Jesse Lauriston Livermore and Larry Hite, among others. [6] [7] The book analyzes years of detailed performance data to demonstrate that trend following works. [8] The book was an immediate international bestseller, with over 100,000 copies sold to date. [9] It was first published by Financial Times Press on April 23, 2004. [9]
The Complete TurtleTrader: The Legend, the Lessons, the Results (HarperBusiness, October 2007) tells the story of Chicago commodities trader Richard Dennis, along with an oral history of the investment world in the late 20th century. [10] [11] The book reviews an experiment conducted by Dennis and then partner William Eckhardt in 1983 with "the Turtles," [12] a group of novices turned top traders based on Dennis' trading advice. [13] The title refers to a strategy that is based on technical analysis of market prices and is used by traders who aim to ride on market trends. [14] [15] Covel has cited Jack Schwager’s book Market Wizards as partial inspiration for the book. [16]
In June 2011, Covel released Trend Commandments: Trading for Exceptional Returns, as a trend following primer for novice traders. [17] [18] In August 2011, Covel released The Little Book of Trading: Trend Following Strategy for Big Winners, which teaches the average person investment practices claimed to beat the market, regardless of the financial climate. [19] [20] [21] [22] Covel's books have been translated into more than 10 languages. [23]
Covel directed the documentary film Broke: The New American Dream, which premiered on Discovery Channel. It covers many economic themes, [3] [24] [25] including the 2008 United States housing bubble, stock-market volatility, and growing economic uncertainty. [24] In the film, Covel interviews financial and economist figures like Harry Markowitz, Vernon L. Smith, Mark Mobius, David Harding, Michael Mauboussin, Larry Hite, Peter Borish, Richard Baker, Barry Ritholtz, Chris Van Hollen, and Eric Bolling. [24] The film criticizes financial news networks like CNBC, stating that they cater to an audience of news junkies in an attempt to score ratings. [26] The film also analyzes behavioral finance, and critiques Americans for not taking personal responsibility for their investment decisions. [27]
In finance, speculation is the purchase of an asset with the hope that it will become more valuable in the near future.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume. Behavioral economics and quantitative analysis use many of the same tools of technical analysis, which, being an aspect of active management, stands in contradiction to much of modern portfolio theory. The efficacy of both technical and fundamental analysis is disputed by the efficient-market hypothesis, which states that stock market prices are essentially unpredictable, and research on whether technical analysis offers any benefit has produced mixed results.
Day trading is a form of speculation in securities in which a trader buys and sells a financial instrument within the same trading day, so that all positions are closed before the market closes for the trading day to avoid unmanageable risks and negative price gaps between one day's close and the next day's price at the open. Traders who trade in this capacity are generally classified as speculators. Day trading contrasts with the long-term trades underlying buy-and-hold and value investing strategies. It is made easier using day trading software. Day trading is similar to swing trading, in which positions are held for a few days.
Edward Arthur Seykota is a commodities trader, who earned S.B. degrees in Electrical Engineering from MIT and Management from the MIT Sloan School of Management, both in 1969. In 1970 he pioneered Systems trading by using early punched card computers to test ideas on trading the markets. Seykota resided in Incline Village, Nevada, on the north shore of Lake Tahoe, but recently moved to Texas.
Richard J. Dennis, a commodities speculator once known as the "Prince of the Pit," was born in Chicago, in January, 1949. In the early 1970s, he borrowed $1,600 and reportedly made $350 million in about six years. When a futures trading fund under his management incurred significant losses in the stock market crash of 1987 he retired from trading for several years. He has been active in Democratic and Libertarian political causes, most notably in campaigns against drug prohibition.
Commodities Corporation was a financial services company, based in Princeton, New Jersey that traded actively across various commodities. The firm was noted as one of the leading commodity and futures trading firms. CC is credited for launching the careers of many notable hedge fund investors and for its influence on global macro investing.
Lawrence D. Hite is a hedge fund manager who, along with Ed Seykota, is one of the forefathers of system trading. He is the author of the book, The Rule: How I Beat the Odds in the Markets and in Life—and How You Can Too, which was named a Wall Street Journal, LA Times, and Porchlight Books bestseller.
Trend following or trend trading is a trading strategy according to which one should buy an asset when its price trend goes up, and sell when its trend goes down, expecting price movements to continue.
Howard Lindzon is a Canadian Author, financial analyst, technical analyst and super angel investor. Lindzon manages a hedge fund, serves as managing partner of the holding company Social Leverage, limited partner at Knight's Bridge Capital Partners, and is the co-founder of StockTwits. Lindzon was named one of The Best Tweets for Your Money in 2013 by Barron's.
John M. Longo Ph.D, CFA is an American investment strategist, portfolio manager, educator, editor, speaker and author.
Scott Patterson is an American financial journalist and bestselling author. He is a staff reporter at The Wall Street Journal and author of Dark Pools: High-Speed Traders, A.I. Bandits, and the Threat to the Global Financial System and The New York Times bestselling bookThe Quants.
Peter F. Borish is chairman and CEO of Computer Trading Corporation (CTC), an investment and advisory firm whose largest consulting client is CIBC. He is also a partner in Adam Hoffman's natural gas options trading team at Torsion Technologies, LLC. Borish is an advisor to Norbury Partners, a recently launched minority-owned discretionary global macro hedge fund. Previously, through CTC, Borish was chief strategist of Quad Group and its affiliated companies. In his role, Borish was engaged in recruiting new talent for Quad and working with the founding partners on business strategy. In addition, he helped traders develop a methodology to enhance their performance by serving as a trading coach. Borish is chairman and CEO of Computer Trading Corporation (CTC), and a current investor and advisor to ValueStream Ventures. He was also a founding investor in Charitybuzz.
Trend Following: Learn to Make Millions in Up or Down Markets is an international bestseller written by Michael Covel. It is about the investment strategy known as trend following, which uses the market trend mechanism and benefits from both sides of the market, enjoying profits from ups and downs of the stock or futures markets.
The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires (2009) is an international bestseller written by Michael Covel. Covel recounts the story of Wall Street’s Richard Dennis and his disciples, the Turtles.
Michael Dever is an American businessman, futures trader, entrepreneur, and author. Dever is the founder and CEO of Brandywine Asset Management, Inc., an investment management firm founded in 1982, and he is the author of the best-selling investment book "Jackass Investing: Don't do it. Profit from it."
Brandywine Asset Management, Inc. is an American investment management firm founded and managed by Michael Dever. The firm is registered as a commodity trading advisor.
Jackass Investing: Don't do it. Profit from it. is a book written by Michael Dever published by Ignite LLC in 2011. Dever is the founder and CEO of Brandywine Asset Management, Inc., an investment management firm founded in 1982.
Aspect Capital is a London-based investment manager that applies a systematic and quantitative approach to investment management. According to the Financial Times, Aspect uses "technology and complex mathematical models to power computers that trade the world's markets around the clock". Aspect manages USD6.6bn.
Jason Goepfert is an American researcher and columnist focused on the development of behavioral finance. Prior to founding Sundial Capital Research, he was the manager of back office operations for Deephaven Capital Management, a Minnesota-based hedge fund, and Wells Fargo's online brokerage unit.
Nathan E. "Ned" Davis, is an American financial analyst, finance author, and co-founder of the Ned Davis Research Group (NDRG), a data-driven investment research company based in Venice, Florida.
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