Ep. 1200: Larry Hite Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 24 July 2023
⏱️ 67 minutes
🧾️ 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:
- Human behavior and decision-making
- Impact of technology on culture
- Reading habits
- Economics and consumer behavior
- Learning from younger generations
- Trendless periods
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
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| 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. |
| 0:21.0 | I am your host, Michael Covel, not filtered, raw, honest. |
| 0:27.4 | That's my passion. |
| 0:33.6 | My guest today, a longer form episode. My guest, Larry Height, the famed traitor. It was on just a few months ago. This is a catch-up episode, longer than the last episode, almost 90 minutes. I'm not sure what will happen in editing, but nice conversation, fun stuff. |
| 0:55.8 | I love Larry's perspective. |
| 0:58.0 | We are all fortunate that he gets to share some wisdom and have a fun conversation. |
| 1:02.5 | Without any further delay from me, let's jump right into the market wizard, Larry Height. |
| 1:22.0 | Yeah. height. Let me make an observation on that. Since you lead with getting older, |
| 1:31.1 | I just watched Mr. Munger and Mr. Buffett on YouTube, and I watched a good portion of their annual shareholders meeting from the last few days. |
| 1:33.4 | And compared to them, you're a teenager. |
| 1:35.2 | That's true. |
| 1:37.5 | But there's so much richer than me. |
| 1:39.5 | Well, you take what you get. |
| 1:45.2 | What does the world think of America now? What does the world think of America now? |
| 1:47.3 | What does the world think of America? |
| 1:50.4 | Yeah, you're sitting in Asia, right? |
| 1:56.3 | These people have had experience with America, really shitty experience, but okay. |
| 2:05.1 | When I was there years ago, they said, well, we are Buddhists, so we don't hate, but we don't forget. |
| 2:06.1 | So now the world is flipping around, and I just wondered if they still have that. |
| 2:13.6 | I had a conversation with a guy that works for a fund that raises assets across Asia to let people in all Asian countries essentially buy their green card to America, and it's a minimum $800,000 investment. |
| 2:30.0 | So I don't think there's any lack of demand for that. |
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