This is trend following radio where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel, not filtered, raw, honest.

That's my passion. Probably my best-selling book. I'm not sure exactly, is the complete turtle Turtle Trader. Of course, I hate this word complete. The publisher threw that at me. I much rather have just

had the book called Turtle Trader. But for many reasons, this book endures. Every new generation

loves this story, this nurture beating nature story.

Today, I would like to share with you the chapter that introduces Richard Dennis.

Richard Dennis was the man who taught the famous Turbul Traders.

Actually, he was one of the two teachers.

There was another teacher named Bill Eckhart.

If you want to read about Bill, you'll have to go buy the full book.

But hey, I'm feeling generous today.

So enjoy this 45-minute chapter about Richard Dennis, the father of the turtle traders.

Chapter 2. Prince of the Pit.

Great investors conceptualize problems differently than other investors.

These investors don't succeed by accessing better information.

They succeed by using the information differently than others.

Michael J. Mobison, Chief Investment Strategist of Leg Leg Mason Capital Management.

1986 was a huge year for Richard Dennis. He made $80 million, about $147 million in 2007.

That kind of money making put him squarely at the center of Wall Street, alongside George Soros, who was making $100 million, and then junk bond king Michael Milken, of Drexel Burnham Lambert, who was pulling

in $80 million. Profits like those for Dennis came with heartburn. He was down $10 million in a single

day that year before bouncing back,

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