Ep. 456: Josh Hawes Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 6 June 2016

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Josh Hawes, the Risk Officer and Investment Manager of Hawking Alpha. He is a trend following trader now who started off at Goldman Sachs. Josh breaks apart the trading industry, highlighting many of the cons associated with the mutual fund space. Josh has always had a passion for math. He started looking at the performance of different funds within Goldman. As soon as he started to look at returns of some, he began to see a disconnect. They would judge themselves off "beating the index" but they were still losing massive amounts of money. They would also have access to CEO's of top companies and still not be able to make money off of the information they would share. This is when he began to transition out of the company and turn to other forms of trading, not just long only.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

Trading off fundamentals
Keeping up with the Jones's
Smooth equity curve's
Concept of an Index
Mutual fund industry
10,000 hours
Arbitrage
High frequency trading

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.
0:27.4	That's my passion.
0:33.4	Really, sometimes I have no idea where my guests are going to come from.
0:39.5	You might be thinking that there's a master plan.
0:43.6	I've got it all figured out.
0:45.6	One guest builds on another and all that kind of fun stuff.
0:48.9	Now, that actually does happen sometimes for sure.
0:53.6	When you're trying to land your second Nobel Prize winner it helps to have
0:57.8	the first and if you have four of them it helps to land number five on the Nobel Prize front
1:03.8	no doubt about it you can see that chain maybe I'm crazy maybe that's not how it really works
1:08.9	it's how it's worked for me.
1:14.6	I think it also helps on the trading front, my specialty.
1:18.1	You get a lot of really cool names involved in the show.
1:19.7	Other people want to come on.
1:24.5	Then there's sometimes just a completely random situation.
1:30.5	One of my favorites on the show, Jerry Parker of Chesapeake Capital, of the Turtle Trader fame.
1:32.0	Recently, Jerry said to me, hey, Mike, you should really talk to this guy I know.
1:37.0	Trend following trader, really bright, some interesting insights.
1:41.7	Jerry was spot on.
1:42.9	My guest today is Josh Hawes. I hope you enjoy this
	...

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