Ep. 1122: Larry Hite Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 24 October 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Larry Hite, a hedge fund manager who is credited as one of the forefathers of system trading. He co-founded Mint Investments in 1981, which by 1990, had become the largest commodity trading advisor in the world in terms of assets under management. After forming a partnership with the Man Group in the same year, he pioneered the principal protected fund concept, leading to a number of successful structured products and financial engineering innovations.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

The goal of making money
Strategies for investing
How does trend following work?
What causes inflation?

Jump in!

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

Click on a timestamp to play from that location

0:00.0	This is trend following radio where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel.
0:24.1	Not filtered, raw, honest.
0:27.4	That's my passion.
0:33.5	He doesn't need much introduction.
0:36.5	One of my most popular guests, back on the show today, Larry Height.
0:42.0	A Market Wizard, if you don't know that book, you've got a problem.
0:46.6	His book, The Rule.
0:48.7	Got to check that out.
0:50.3	One of the trend following pioneers, enjoy Larry Haidt and myself catching up.
1:06.8	Tell me, what's going on? What's interesting?
1:09.9	What interesting to me is how solid trend following across the board is.
1:17.8	What a fucking miracle it is.
1:20.2	Sorry, through an F-bott.
1:22.6	But you really start to think about this.
1:26.2	What happens?
1:31.2	A lot of information that we read is kind of useless because you only get fractions. It's like when you hear the word blue, we don't know what it is.
1:39.9	It could be powder blue, it could be navy blue, it could be metallic blue.
1:45.4	But when you deal with numbers and moving averages and the kind of thing that trend follows
1:51.7	to, you always know exactly a 50-day moving average crossing a 200-day moving average.
2:00.5	Everybody knows. And over the years, I'm 82 now,
	...

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