Trend Following is the only long-term trading strategy proven to profit consistently in bull and bear markets alike. Now, Michael Covel demystifies this little-known strategy, using hard performance data to prove its extraordinary value. Covel introduces you to great traders who've built enormous fortunes with Trend Following--including Boston Red Sox owner John W. Henry, Bill Dunn and legendary Ed Seykota. You'll learn exactly why stock prices contain all the information you need to ride trends--and profit.
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"You might call it the Market Wizards of Trend Following." -- Van K. Tharp, Ph.D., Author of Trade Your Way to Financial Freedom
Michael Covel's Trend Following: Essential. -- Ed Seykota, Trend Follower for 35 years and Original Market Wizard
This enjoyable and well written book is destined to become a classic. -- Charles LeBeau, author of Technical Traders Guide to Computer Analysis of the Futures Markets
This is a valuable contribution and some of the best writing on trend following I've seen. -- Robert (Bucky) Isaacson, Managed Money and Trend Following Pioneer for 30+ Years
This book is the result of an eight-year "hazardous journey" for the truth about Trend Following. It fills a void in a marketplace inundated with books about finance and trading but lacking any resource or, for that matter, practically any reference to what we believe is the best strategy to consistently make money in the markets. That strategy is known as Trend Following. Trend Following seeks to capture the majority of a trend, up or down, for profit. It trades for profits in the major asset classes• stocks, bonds, currencies, and commodities. However simple the basic concepts about Trend Following are, they have been widely misunderstood. Our desire to correct this state of affairs is what, in part, launched our research. We wanted to be as objective as possible, so we based our writing on the available data:
• Trend followers' month-by-month performance histories.
• Trend followers' published words and comments over the last 30 years.
• News accounts of financial disasters.
• News accounts of the losers in those financial disasters.
• Charts of markets traded by trend followers.
• Charts of markets traded by losers in the financial disasters.
It is a pleasure to recognize the colleagues, mentors, finance writers, traders, and friends who contributed directly and indirectly to this book.
William W. Noel, III and Justin Vandergrift must be singled out for special mention. They were the core members of our original Trend Following research team. The book would not have come together without their hard work.
I am particularly grateful to those traders - Ed Seykota, Bill Dunn, Daniel Dunn, Mark Rzepczynski, Pierre Tullier, Jason Russell, Easan Katir, Jonathan Hoenig, and Paul Mulvaney - who were generous with their feedback under tight writing deadlines. And thanks also to Martin Bergin of Dunn Capital Management for an initial introduction to Bill Dunn.
The support of Charles Faulkner must be acknowledged as well. He shared his intellect, enthusiasm, and most of all, his time, reading and critiquing various drafts. His advice kept me out of trouble, and his patience was extraordinary.
Celia Straus, Jerry Mullins, Withers Hurley, Elizabeth Ellen, Justice Litle, Barry Ritholtz, Mark Rostenko, Tom Rollinger, Arthur Maddock and Bob Spear also made valuable contributions.
Throughout years of research, I've benefited repeatedly from the trading wisdom and experience of John W. Henry, Salem Abraham, Peter Borish, Jonathan Craven, Mark Hawley, John Hoade, Shaun Jordan, Carol Kaufman, Jane Martin, Leo Melamed, Larry Mollner, Kim Hunter, Gibbons Burke, Chuck LeBeau, and Leon Rose. I want to especially thank Jerry Parker for answering questions early in my career.
And thank you to the following publications and writers who generously allowed us to quote from their work: Michael Mauboussin, Sol Waksman and Barclay Managed Futures Report, Futures magazine, Managed Account Reports, Michael Rulle of Graham Capital Management, Technical Analysis of Stocks and Commodities magazine, and Winton Capital.
I am also indebted to the following authors whose works continue to be treasure troves of information and insight: Morton Baratz, Peter Bernstein, Clayton Christensen, Jim Collins, Jay Forrester, Tom Friedman, Gerd Gigerenzer, Peter Todd, Daniel Goleman, Stephen Jay Gould, Alan Greenberg, Larry Harris, Robert Koppel, Edwin Lefevere, Michael Lewis, Jesse Livermore, Roger Lowenstein, Ludwig von Mises, Lois Peltz, Ayn Rand, Jim Rogers, Jack Schwager, Denise Shekerjian, Robert Shiller, Brett Steenbarger, Van Tharp, Edward Thorp, Brenda Ueland, and Dickson Watts.
This book could only have come to fruition with the editorial guidance of Jim Boyd at Financial Times Prentice Hall, as well as the able assistance and attention to detail of Dennis Higbee, who copyedited. I also want to thank Donna Cullen-Dolce, Lisa Iarkowski and John Pierce for their remarkable production and marketing skills. And to Paul Donnelly at Oxford University Press, I owe a special debt of gratitude for seeing the potential of our initial proposal.
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Book Description Financial Times Prentice Hall, 2004. Hardcover. Book Condition: New. HARDCOVER, BRAND NEW COPY, Perfect Shape, No Black Remainder Mark,Fast Shipping With Online Tracking, International Orders shipped Global Priority Air Mail, All orders handled with care and shipped promptly in secure packaging, we ship Mon-Sat and send shipment confirmation emails. Our customer service is friendly, we answer emails fast, accept returns and work hard to deliver 100% Customer Satisfaction!. Bookseller Inventory # 9015884
Book Description Financial Times Prentice Hall, 2004. Book Condition: New. Brand New, Unread Copy in Perfect Condition. A+ Customer Service!. Bookseller Inventory # ABE_book_new_0131446037
Book Description Financial Times Prentice Hall, 2004. Hardcover. Book Condition: New. HARDCOVER, BRAND NEW COPY, Perfect Shape, No Black Remainder Mark,Fast Shipping With Online Tracking, International Orders shipped Global Priority Air Mail, All orders handled with care and shipped promptly in secure packaging, we ship Mon-Sat and send shipment confirmation emails. Our customer service is friendly, we answer emails fast, accept returns and work hard to deliver 100% Customer Satisfaction!. Bookseller Inventory # 9005364
Book Description Financial Times Prentice Hall, 2004. Hardcover. Book Condition: New. Bookseller Inventory # DADAX0131446037
Book Description Prentice Hall, 2004. Hardcover. Book Condition: Neu. Gebraucht - Sehr gut Unbenutzt. Schnelle Lieferung, Kartonverpackung. Abzugsfähige Rechnung. Bei Mehrfachbestellung werden die Versandkosten anteilig erstattet. - The First Book on Trend Following How did John W. Henry become rich enough to buy the Boston Red Sox How do traders like Ed Seykota, Bill Dunn, Jerry Parker, and Keith Campbell consistently generate immense profits in both bull and bear markets The answer is Trend Following: the only long-term trading strategy proven to consistently make money. Now, one of the field's leading experts pulls back the curtain on Trend Following, showing you exactly how and why from A to Z. Michael Covel demonstrates why market prices contain all the information you need to make buy and sell decisions. 309 pp. Englisch. Bookseller Inventory # INF1000004862
Book Description Financial Times Prentice Hall, 2004. Hardcover. Book Condition: New. book. Bookseller Inventory # 0131446037
Book Description Financial Times Prentice Hall, 2004. Hardcover. Book Condition: New. Bookseller Inventory # P110131446037