TTU51: Planning for Failure, Not Planning to Fail ft. Rob Hartman of Pacific Capital Advisors – 1of2

Top Traders Unplugged

Niels Kaastrup-Larsen

News, Investing, Business News, Business

4.8 • 715 Ratings

🗓️ 15 December 2014

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In starting any business, you run into unexpected roadblocks and challenges, and you learn something from each mistake. Our next guest is the founder of a trading firm who has grown his business twice and learned how to overcome the barriers in his way. We can learn a lot from someone who is ready for the unexpected whether it is good or bad.

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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:

About his childhood in Upstate New York and Pennsylvania.
Rob’s interest in music and sports.
How his early Rock and Roll career faired and how he went into the financial industry.
How he got hired at IBM.
His years at IBM and the lessons it taught him.
How his fascination for trading started after he began a consulting business.
The tipping point: when he went full-in to the trading business.
How he learned about different strategies and tested them.
When he came upon trend following and what made him stick with it.
What kind of trend following he started with.
How a drawdown taught him he needed to differentiate himself from other managers.
The lessons that his first expansion stage taught him.
The big event that happened after 2010 that changed everything.
About MF Global and the meltdown of that firm.
An overview of the programs that his firm runs.
How he manages investor expectations with a small team.
How he outsources operational roles in order to cut costs and remain a one-man shop.

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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” here.

Learn more about the Trend Barometer here.

Send your questions to info@toptradersunplugged.com

And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.

Follow Rob Hartman on Linkedin.

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PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:

1. eBooks that cover key topics that you need to know about

In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here

2. Daily Trend Barometer and Market Score

One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here

3. Other Resources that can help you

And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click Here

Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0	As far as MF Global goes, you know, talk about adrenaline and fear and terror that Monday was truly awful.
0:12.0	My belief is, I say this to people and I mumbled it to myself, is that whatever it is you're doing, it's probably going to be a lot harder than you thought and take longer.
0:22.9	So whatever, it's wonderful to be optimistic, but be ready for, you know, to just be a lot tougher.
0:29.6	And by the way, that hopefully will make it fun.
0:34.1	Being prepared for when things don't work out as planned is very important.
0:38.3	But planning for failure is not planning to fail.
0:42.3	Fate has ordained the men who went to the moon to explore in peace,
0:47.3	will stay on the moon to rest in peace.
0:50.3	These are the words from a speech that President Nixon had prepared in case of a failure
0:56.8	when the US launched Apollo 11 to the moon back in 1969. But President Nixon did not have to use
1:04.4	this speech. Instead he used the other speech he had prepared, namely the one to be used in case of a successful moon landing
1:12.9	and return. Having a plan B and being prepared for the unexpected, well, that's what we're
1:20.2	talking about in today's episode of Top Taders Unplogged. Imagine spending an hour with the
1:27.4	world's greatest traders.
1:29.3	Imagine learning from their experiences, their successes, and their failures.
1:33.3	Imagine no more.
1:35.3	Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world,
1:41.3	so you can take your manager due diligence or investment career to the next level.
1:46.3	Here's your host, veteran hedge fund manager, Niels Kastrop Larson.
1:58.9	Welcome to Top Traders on Block, where my goal is to give you the clarity, confidence and courage
2:04.9	you need to invest with or invest like one of the top traders in the world.
2:10.8	It is the stories you never get to hear set out as the most honest and transparent account
	...

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