Ep. 14: Douglas Stewart Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 10 May 2012
⏱️ 47 minutes
🧾️ Download transcript
Summary
My guest today is Douglas Stewart, the founder of Market Concepts, LLC in early 2007. He has a BA in Education from Virginia Commonwealth University. From 1996 to 2002 he worked in the industry as a financial advisor. After the bear market of 2000-2002, he left the regional brokerage firm Scott and Stringfellow and began studying technical analysis and alternative investment strategies. From 2003 to present day, he has researched and developed alternative investment strategies, which his clients have benefited from, and which paid off handsomely during The Great Recession of 2008/2009.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
- Stewart shares some of his experiences coming of age during the dotcom bubble
- Once the bubble burst, he immersed himself for ten hours a day for several years studying books such as Jack Schwager's "Market Wizards", which led him to his lightbulb moment; he explains how this led him into the trend following space
- Interesting experience he had at a panel in November of 2008 where he explained, in song, how he wasn't able to predict the markets
- How ego can hurt you in the trend following world, why a majority will never really want to adopt a trend following perspective, and the zen of accepting that you'll never be able to accurately predict where the markets might go.
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. |
| 0:21.2 | I am your host, Michael Coval. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.4 | That's my passion. |
| 0:33.3 | Well, today on the podcast I have Doug Stewart. |
| 0:36.9 | Doug is based in Charlottesville, Virginia, |
| 0:40.1 | a couple hours from where I grew up. I've been to Charlottesville a bunch of times, played |
| 0:45.1 | some baseball there in my youth and some tournaments. And Doug is with a firm and started a firm |
| 0:51.7 | called Sherwood Forest. And we're going to get into some of the specifics. |
| 0:56.0 | You're probably going to guess already out there. |
| 0:58.2 | At least you should be guessing you, the audience, that Doug is in the trend following space. |
| 1:03.0 | So Doug, welcome. |
| 1:04.0 | I appreciate you for stopping by today. |
| 1:06.3 | Mike, I appreciate it. |
| 1:08.4 | So let's, I try to get everybody, because I think when people listen, whether they're an established |
| 1:14.6 | trader or whether they're a new trader, I think everybody just relates to the idea of where |
| 1:19.3 | did somebody come from? |
| 1:20.7 | Like, you know, why does Doug Stewart, why does he get out of bed, you know, what makes him |
| 1:26.0 | tick? |
| 1:27.1 | And why do you go back and start? |
| 1:29.4 | Because I think you have an interesting background. I think it starts with teaching. |
... |
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