Larry Hite - I Want To Be In A Position Where Something Great Can Happen…If I Don’t Get That, I Don’t Want To Play | #182

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8 • 978 Ratings

🗓️ 16 October 2019

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 182 we welcome our guest, Larry Hite. Larry and Meb start off the conversation with Larry’s origin as a trend follower, and the parallels to trend following and life. Larry follows with personal challenges he overcame in life, and how he found a path to success through a life lesson, weeding out what he couldn’t do, and include the things that gave him a lot of enjoyment and potentially a lot of money (or both). Next, Larry gets into his start in investing, combing through hundreds of years of data and finding that cutting losses and letting winners run really works. He then transitions into some underlying foundations about how he thinks about trading, including, putting the odds in your favor by creating asymmetrical bets. Meb then talks with Larry about founding Mint, one of the earliest systematic CTAs, and was the first hedge fund to raise over $1 billion. As the conversation winds down, Larry talks about systematic rules, trend following, and making an array of bets. All this and more in episode 182, including concluding thoughts on challenges and resiliency, and Larry’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mebb Fabor Show, where the focus is on helping you grow and preserve your wealth.
0:12.7	Join us as we discuss the craft of investing
0:15.6	and uncover new and profitable ideas,
0:18.4	all to help you grow wealthier and wiser.
0:20.8	Better investing starts here.
0:23.0	Mepp Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:31.0	Due to industry regulations, he will not discuss any of Cambria's funds on this
0:35.5	podcast.
0:36.8	All opinions expressed by podcast participants are solely their own opinions and do not
0:41.0	reflect the opinion of Cambria Investment Management or its
0:43.6	affiliates. For more information visit cambria Investments.com.
0:49.4	Hey podcast listeners summertime has ended. We're now entering Q4. Can you believe it?
0:56.6	It's almost 20-20 the decade is almost over. It's crazy today. We have one of my favorite episodes ever.
1:04.4	Our guest has over three decades as a successful trader or investor
1:08.2	and is one of the original pioneers of systematic trend
1:11.6	following trading.
1:12.8	He co-founded Min Investment Management and led the firm to creating one of the industry's
1:17.0	first commodity trading advisors, CTAs, and I believe was the first to manage over a billion dollars.
1:23.6	He then went on to start his own family office
1:26.1	or he directs his own investments, continues his research into the field of
1:29.2	systematic trading.
1:30.6	He's the author of the new book,
	...

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