Ep. 1256: Larry Hite Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 5 February 2024

⏱️ 46 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:

Trading philosophy and principles
Personal anecdotes and experiences
Book publishing
Market Wizards
Proactive risk management
Taking calculated chances
Education system and street-smart thinking

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, not filtered, raw, honest.
0:27.3	That's my passion.
0:33.5	I know guys like Joe Rogan have regulars that come on his show.
0:37.6	And I've had my fair share of regulars, guys like Tombos, Jerry Parker.
0:42.1	But of course, my most regular, Larry Hight.
0:46.7	And again, today, fresh and new, Larry Hight.
0:52.1	Larry does not need an introduction in the trading world, in the trend following world.
0:56.4	He is considered one of the legends, originally profiled in the book The Market Wizards.
1:02.1	Larry also has his own book called The Rule, which you should check out.
1:06.7	No further delay from me needed.
1:08.6	Let's jump right into Larry Hype.
1:19.2	There he is.
1:20.7	What's going on, Larry?
1:22.8	I want to ask you one question.
1:25.8	I remember it was in my apartment.
1:28.5	We had this discussion when I met you.
1:32.0	How long do we know each other?
1:35.6	So my first book came out in 2004.
1:40.4	By the end of 2004, it had done really well.
1:49.1	And so then early 2005, I reached out to 10 to 15 traders, you being one of them, that I did not know. I just reached out cold turkey. And your office said,
	...

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