TTU03 How To Get Predictable Returns ft. Mike Dever of Brandywine Asset Management – 1of2

Top Traders Unplugged

Niels Kaastrup-Larsen

Business, Business News, Investing, News

4.8 • 670 Ratings

🗓️ 2 June 2014

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s show I am talking to Mike Dever, the Founder and CEO of Brandywine Asset Management. Mike is a Divergent Thinking Systematic Investment Manager and Author of the best selling book “Jackass Investing”. Mike has been trading for almost 4 decades and shares a wealth of insight to how he has stayed successful and how his trading approach and research has stayed current in an ever changing financial landscape.

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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE

In This Episode, You’ll Learn:

The Evolution of Mike’s Trading
How Mike almost got in to business with Richard Donchian
How they developed a systematic trading model in the 1980s
How Mike met and invested with Paul Tudor Jones, John W. Henry and was the first outside investor in Transtrend
How Mike went from being a discretionary trader to become fully systematic when launching the Benchmark Program, and Why
About the experience of running the Brandywine Benchmark Program in in the ‘90s
How Mike discovered the importance of Portfolio Allocation in the 1980s
The Story of Developing the Predictive Diversification Portfolio Allocation Model
The Entrepreneurial Storm that Kept Mike away from Trading and Brandywine for Years
The story of developing the Brandywine Symphony Program
How many people it takes to run a system with more than 1,000 strategy/market combinations
Exploring the track record of Brandywine Symphony Program
Why one should avoid making decisions based on single return drivers
5 Themes in Brandywine’s Asset Allocation Strategy: Fundamental, Sentiment, Event, Arbitrage and Alpha Hedge
How Marginal Cost of Production Works as a Return Driver
Are the strategies from the 1980’s just as effective today?
What is directional arbitrage?

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Resources & Links Mentioned in this Episode:

Jackass Investing by Mike Dever
Learn about Richard Donchian the Grandfather of Trend Following
Learn about Poul Tudor Jones of Robin Hood Foundation
Learn about John W. Henry

Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.

IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio”

Transcript

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0:00.0	You're listening to Top Traders on Plot. Episode number zero zero three with Mike Devor, founder and CEO of Brandywine Asset Management.
0:10.6	This episode is sponsored by Saxo Bank and Swiss Financial Services.
0:15.7	Imagine spending an hour with the world's greatest traders. Imagine learning from their experiences, their successes,
0:22.2	and their failures. Imagine no more. Welcome to Top Traders Unplugged, the place where you can learn
0:29.0	from the best hedge fund managers in the world so you can take your manager due diligence
0:33.5	or investment career to the next level. Here's your host, veteran hedge fund manager, Niels Kastrop Larson.
0:44.4	Welcome to another episode of Top Traders Unplocked.
0:51.7	Thanks so much for tuning in today.
0:53.8	I really do appreciate it.
0:55.8	On today's show, I'm talking to Mike Deva,
0:58.7	the founder and CEO of Brandywine Asset Management.
1:02.4	Mike's been trading for almost four decades
1:04.4	and shares a wealth of insight
1:06.4	to how he has stayed successful
1:08.4	and how his trading approach and research has stayed current in an ever-changing financial landscape.
1:15.5	For those of you who are new to the show, I just want to let you know that you can find all of the show notes, including a full transcript of today's episode on the top traders onplogged.com website.
1:28.4	Now let's get started with part one of my conversation.
1:31.3	I hope you will enjoy it.
1:50.3	Mike, before we jump into more the specific topics and questions that we'll cover today,
1:55.7	I just want to start out by acknowledging you and thank you for being on the podcast today.
2:07.5	I still remember when I visited your offices about 17 years ago because it left such an impression on me because of its uniqueness.
2:16.6	So of course, I'm interested to hear whether your offices are still located in this wonderful 17th century gristmill that you renovated so beautifully?
	...

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