Ep. 171: Nick Atkeson Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 17 October 2013
⏱️ 50 minutes
🧾️ Download transcript
Summary
My guest today is Nick Atkeson, a founding partner of Delta Investment Management, LLC. Mr. Atkeson has over 17 years of industry experience. Prior to founding Delta Investment Management, Mr. Atkeson was a partner and portfolio manager of Delta Force Capital, LLC, a San Francisco based hedge fund from 2006 to April 2009.
The topic is his book Win By Not Losing: A Disciplined Approach to Building and Protecting Your Wealth in the Stock Market by Managing Your Risk.
In this episode of Trend Following Radio we discuss:
- Momentum and streaks
- Some of the stories contained in Atkeson's book, including "Sonny" in Vegas and his ability to disrupt the earnings of the Rio Casino, and the idea of the "theo"
- Why people should invest at all
- Uncertainty in the markets, with jobs, and in retirement
- Market timing
- Asset allocation decisions
- Negative tail risk
- Black swans
- What happens when/if the US potentially defaults on its debt
- The idea of "systematic", taking your losses, and behavioral finance
- Loss avoidance
- How Atkeson got started in his career
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. |
| 0:27.3 | That's my passion. |
| 0:33.4 | They're handing out the Nobel Prizes this week. |
| 0:39.8 | Three gentlemen got them for their work, |
| 0:45.1 | contributing to the field of economic sciences. |
| 0:49.0 | Professor Schiller and Professor Fama are the two that I'm going to focus on. |
| 0:53.2 | I don't know the other guy. |
| 0:55.4 | Schiller has been right at the forefront in the last 20, 30 years, talking about bubbles |
| 1:02.9 | and overreactions in emotions. |
| 1:08.3 | Behavioral Finance 101. |
| 1:10.8 | He's not the only |
| 1:12.0 | economics professor to do this, |
| 1:17.2 | Vernon Smith, |
| 1:18.4 | Daniel Connman, |
| 1:19.6 | but it's good to give recognition |
| 1:22.5 | to somebody that says, |
| 1:23.4 | look, |
| 1:23.9 | there are major bubbles out there. |
| 1:27.3 | There are overreactions and people invest with their emotions. look, there are major bubbles out there. |
... |
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