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Michael Covel's Trend Following

Ep. 1228: Larry Hite Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 30 October 2023

⏱️ 60 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:

  • Becoming a film director
  • Overcoming obstacles
  • Entitlement and hustle
  • AI and its limitations
  • Trend following
  • Personal experiences and anecdotes
  • Marriage and divorce
  • Societal changes and cultural shifts

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.

0:21.3

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

0:27.4

That's my passion.

0:33.7

My guest today needs no introduction, but I will give one.

0:36.6

His name is Larry Height. He's a trend

0:38.2

following trader. He was originally featured in the book, The Market Wizards by Jack Schweger.

0:44.4

He happened to have had the first billion plus under management trend following fund back in the day.

0:51.9

And he likes coming on this podcast. I'm not sure why. He seems to enjoy

0:55.6

talking to me. But you know what? I enjoy talking to him. Without any further delay, let's jump

1:01.6

right in to some fresh Larry Hype. There was something I caught the other day, and I talked about it on one of my monologues,

1:16.2

but I thought I'd bring it up with you and see how you felt about this.

1:19.6

I caught a passage from the film director, Jim Cameron, Terminator, Titanic, all the big movies,

1:25.8

Avatar, all these things.

1:27.1

He's made gazillions.

1:28.7

Someone asked him about becoming a film director, and they were essentially asking how do you do it,

1:35.1

asking for permission, all that stuff. Camera was very blunt. He's like, look, if you've got to ask

1:39.5

that question, you're never going to do it. You're just never going to do it if you've got to ask the question,

1:45.6

because if you really want to do it, you're going to figure out a way to do it. I thought that

1:50.5

was so simple and sweet. I think it's totally fucking correct. What's that? I think it's back in before

1:59.7

that letter was. I've been honestly for four minutes. I think it's documented before that letter was.

2:03.3

I've been on the sleep for four minutes.

...

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