Ep. 332: Brian Proctor Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 3 April 2015
⏱️ 44 minutes
🧾️ Download transcript
Summary
My guest today is Brian Proctor, an original TurtleTrader trained by Richard Dennis and Bill Eckhardt and today is a Managing Director at EMC Capital. He began his futures career in 1982, with experience at both the Chicago Mercantile Exchange and Chicago Board of Trade. Proctor was a participant in the renowned Turtle Program, and managed all trading operations at C&D Commodities through 2000.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
- Proctor's first trading moments and the Turtle program
- Proctor's view on Liz Cheval, what she brought to his firm, and why she's still an integral part of EMC today
- How trend following strategies have continued to excel over the years
- Diversification and the Swiss franc
- Black swans and how the impossible can and does happen
- Bill Eckhardt's influence
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. |
| 0:24.0 | Not filtered, raw, honest. |
| 0:27.3 | That's my passion. |
| 0:32.9 | I love skepticism. |
| 0:35.8 | I've one of the biggest skeptics. |
| 0:38.8 | I mean, I know there's all kinds of funny business that goes on in the government. |
| 0:43.9 | Look at the U.S. Federal Reserve. |
| 0:45.5 | How much funny business went on in 2008, 2009. |
| 0:50.1 | So I get being a skeptic. |
| 0:52.0 | I understand. |
| 0:57.6 | But once I know the story and once the data matches the story, I'm not a skeptic. My second book was called The Complete Turtle Trader about a very |
| 1:04.7 | famous story of a man named Richard Dennis and his partner Bill Eckhart, how they took, |
| 1:10.4 | essentially, non-experienced |
| 1:13.3 | traders off the street, taught them to be trend-fowing traders, and it worked. In 1988, |
| 1:19.2 | these students nicknamed the turtles, went off on their own. Now, all these years later, |
| 1:25.1 | many of them are still trading today for clients. |
| 1:30.9 | The cool thing is the experiment never ended. |
| 1:34.3 | The trading never stopped. |
| 1:36.9 | And it wasn't just the turtle traders. |
| 1:39.4 | The trend following turtle traders, so many other trend following traders across the world have kept |
... |
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