Ep. 142: Alpesh Patel Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 30 July 2013

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Alpesh Patel, a hedge fund manager, Financial Times columnist and Bloomberg TV presenter.

The topic is his book How to Win at Spread Betting: An Analysis of Why Some People Win at Spread Betting and Some Lose.

In this episode of Trend Following Radio we discuss:

Comparisons betweens stocks and futures
What the winners have in common
Trade frequency, and why active traders tended to do better in Patel's study
Buy & holders vs. spread betters
Academic vs. practical insights
Whether Patel finds himself at odds with other Financial Times writers
Why people like to imagine that trend following and momentum trading doesn't exist
Patel's experience as an expert witness with "trend following on trial"
Why the average person has difficulty with betting small, cutting losses, and letting winners ride
George Soros, game theory and trading psychology
Win/loss ratios
A coin flipping experiment performed with Ph.D's, the importance of position sizing, and why systems aren't everything
Why gut instinct is the opposite of what professional traders use

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 Covel, not filtered, raw, honest.
0:27.3	That's my passion.
0:33.1	Today on the show I have Al Pesh Patel, and Al Pesh is a asset manager, and he has been writing for the financial times for quite a long time.
0:43.5	You can find him at alpeshpetel.com, and I think you're going to enjoy this.
0:49.7	We kind of cover a lot of different topics, and even though his book has a focus on spread betting, the style, the style that he talks about,
1:00.2	the strategies that he talks about are going to hit home with the trend following momentum style traders and investors.
1:08.2	So I think you will enjoy this.
1:16.9	Thank you. traders, investors. So I think you'll enjoy this. So I was trying to think the first time we exchanged emails, man, it was probably over a
1:20.9	decade ago in some capacity.
1:23.5	Yes.
1:24.1	A long time ago, back in the day of really really formative internet world stuff
1:29.9	yeah how are you doing which country you're in at the moment i'm in sagon so lovely i honeymoon
1:38.2	there many years ago it's uh it's it's it's quite the place and uh i think uh maybe maybe folks in the UK and Europe have a better feel for it.
1:47.6	I think most Americans are generally surprised.
1:51.0	And when I get here, I'm kind of surprised they're not more in tune with it because it's a really
1:55.5	interesting city.
1:57.5	Yeah, well, I was there a long time.
1:59.8	It's been 16 years ago.
2:00.7	So it must have changed a lot
2:01.8	and i'm flying out to laos in two weeks actually so i'm looking forward to being in that region again
	...

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