TTU68: Keep The Long Term View in Mind When Investing ft. Mike Dever of Brandywine Asset Management
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 712 Ratings
🗓️ 1 February 2015
⏱️ 28 minutes
🧾️ Download transcript
Summary
On our next year-in-review, Mike Dever talks about how 2014 evolved for his firm and what they learned from the year. He discusses the changes they made to their program as well as the recent Swiss Franc move and what they learned from that. He also talks about why investors need to keep the long term view in mind when investing, and not re-evaluate the program every time the profits take a dip.
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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:
- What Mike’s firm does that blends together different strategies in order to diversify a portfolio.
- How 2014 was for his firm.
- Why they had a great first quarter to 2014 when most CTAs did not.
- How the Interest Rate sector and Agriculture sector did well for the program.
- Why he saw the Swiss Franc move coming.
- How they are in a continual process of learning and subsequently improving their program.
- Convergent vs. Divergent environments and what Mike is looking forward to.
- How to mitigate a big inflow of investment followed by immediate outflow.
- The book that Mike wrote and if the Myths still hold true today.
- Why people think about the long term view when they invest, and think about the day-to-day view when they take their money out.
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Resources & Links Mentioned in this Episode:
Listen to 2 hour-long episodes with Mike Dever on this podcast here and here.
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 Mike Dever on Linkedin.
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | I think the key for just successful investing in this year after a number of years where |
| 0:07.3 | trend followers did poorly. We had a nice run and that attracted assets. We doubled our assets last year. |
| 0:13.5 | It kind of keeps pointing out that people always tend to do the wrong thing. They start out with a long-term |
| 0:18.5 | view and as soon as there's losses or they're |
| 0:21.1 | comparing to something that's doing better than what they have in their portfolio, they start |
| 0:25.2 | shifting to a short-term view. And that's just so damaging to their performance. If people could |
| 0:30.8 | just, you know, put their money into a diversified portfolio and just not reevaluated on a daily, |
| 0:37.2 | monthly or even annual basis, you know, |
| 0:40.4 | realize that it's there for the longer term. |
| 0:42.4 | Everybody would end up with much better performance than they do in the aggregate end up with. |
| 0:52.5 | This is Mike Devere, founder and CEO of Brandywine Asset Management, |
| 0:56.0 | and you are listening to my year in review on Top Traders Unplugged. |
| 1:00.0 | Imagine spending an hour with the world's greatest traders. |
| 1:03.0 | Imagine learning from their experiences, their successes, and their failures. |
| 1:08.0 | Imagine no more. |
| 1:10.0 | Welcome to Top Traders Unplugged, |
| 1:12.4 | the place where you can learn from the best hedge fund managers in the world, |
| 1:16.0 | so you can take your manager due diligence or investment career to the next level. |
| 1:21.0 | Here's your host, veteran hedge fund manager, Niels Kastrop Larson. |
| 1:38.2 | Thank you. Niels Kastrop Larson Welcome back, Mike, to this review of 2014, where we look at the big events from the point of view of your trading strategy. |
| 1:40.7 | I'd like to explore the ups and the downs as well as the big takeaway from what can only |
| 1:45.5 | be described as an interesting year for systematic trading strategies in general. |
... |
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