Tom Basso - Investing Is A Mental Game More Than It Is Having The Perfect Indicator Or…Even The Perfect Position Sizing | #244

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 26 August 2020

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 244 we welcome our guest, long time trader and trend follower, Tom Basso. In today’s episode, we’re talking trend following and trading. We start with some of Tom’s early trades, cutting his teeth on corn futures, and, as a disciplined trend follower, going through hell before a silver futures trade was in the books for a nice gain. We discuss power laws and outliers, and his finding that it sometimes came down to a handful of trades that made the difference between profit and breaking even, or even losing money for the year. We cover the critical concept of position sizing, and why it has been a cornerstone of Tom’s trading systems over the years. We get into the mental side of investing, and as we wind down, Tom lets us in on the virtues of trading multiple, symbiotic strategies. All this and more in episode 244 with Tom Basso. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfavor Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Met Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion
0:31.1	of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:35.6	Hey podcast listeners, we have an unbelievable show for you today you will find
0:45.4	yourself in the presence of a true investing Zen master and by the end of the
0:50.6	podcast you will learn lessons not only about winning the
0:53.4	investing game, but also the game of life.
0:56.6	Many of you will know our guests from his interview with Jack Swagger and the new
0:59.9	market wizard's book.
1:01.2	He's a longtime trader, Trin follower, author and founder of Trend Stat.
1:05.6	In today's episode we're talking Trend Following and Trading. We start with some of our
1:10.4	guests early trades, cutting his teeth on corn futures, and as a disciplined
1:14.4	trendfaller going through hell before his silver's futures trade was in the books for a nice gain.
1:19.4	We discuss power laws and outliers, and his finding that it sometimes came down to a handful of trades that made the difference
1:25.9	between profit and breaking even or even losing money for the year. We cover the critical concept of
1:31.8	position sizing and why it has been a cornerstone of our guest trading systems over the years.
	...

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