4.6 • 730 Ratings
🗓️ 9 November 2018
⏱️ 41 minutes
🧾️ Download transcript
My guest today is Paul Britton, a portfolio manager at Apollo Systems Research Corporation. In high school Paul’s dad put him into a stock that went from $5 to $60. He took his profit and put money into a couple more stocks that turned out to be winners as well. These lucky trades peaked his interest in markets. Shortly after making these initial trades, Paul’s dad also gave him a copy of “Reminiscences of a Stock Operator.” He started working and looking at data trying to see if he could get a system of his own to work. He quickly learned that you can play around with entry and exit points, markets, etc., but as long as you pick up on the big trends and ride them until they lose–that was the #1 way to make money.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
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
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Hope you enjoy my never-ending podcast conversation!
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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, not filtered, raw, honest. |
0:27.4 | That's my passion. |
0:31.5 | Before this podcast became this wide-ranging kaleidoscope of different personalities, different disciplines, way back in the day, |
0:41.4 | I pretty much wanted to start as a trend following only podcast. That was the goal. That was what I |
0:49.1 | set out to do. Now, along the way, and I've discussed this before on the podcast, I switched gears. |
0:55.9 | I wanted to bring on a wider range of guests. |
1:00.3 | And so far, I think I've done a pretty good job of that. |
1:03.4 | But today, I want to reach back and I want to go to a trend following, a quant mindset guest, Paul Britton of Apollo Systems Research Corporation. Paul and his firm |
1:16.2 | go straight at momentum based trading. One of their portfolios is trend following. One is |
1:22.6 | more of a trend following on a very short term basis. Always staying close to my roots, always keeping it |
1:30.9 | with that certain quant mindset. But it's not just a quant mindset. It's a quant mindset around |
1:38.8 | a certain type of philosophy. And Paul shares that philosophy. The philosophy is we can't predict anything. |
1:47.8 | We don't know what the big winners are going to be. So when you get a big winner, write it. |
1:53.2 | Now, Paul uses a quantitative strategy to achieve that philosophy. But don't allow the word |
1:59.8 | quant to confuse with the philosophy, to confuse with |
2:02.9 | the strategy. Because without that strategy, and going back to David Ricardo, without that |
2:08.3 | strategy of letting your winners run, cutting your losses short, Paul and I would not be having |
2:14.0 | the conversation that we're about to have today. Without further delay, let me get right into that conversation with Paul Brick. |
2:29.1 | Paul, take me back in time. |
2:33.3 | When's the first moment that you had your aha, that instead of mimicking |
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