Michael Covel: News & Info.

A recent review of “The Complete TurtleTrader”.

Read.

A review of “The Complete TurtleTrader” from Quint Tatro of Minyanville.com. He asked the rhetorical question: “What books did you read during 1Q?”

Consistently soaking in knowledge is a must in this profession and as you grow your desire for outside literature should increase. This past quarter my reading was hit or miss. I read about five trading/investing books and four out of five were garbage. The following was the only one worth mentioning: “The Complete TurtleTrader”: This was a great read by Michael Covel and delved into the depths of the Turtle strategy which, in a trending market, correlates with my style quite well.

A review in today from Ulli G. Niemann a Registered Investment Advisor in Orange County, CA:

Hello Michael, I just wanted to let you know that I featured one of your books on my blog today. The link is [here]. I’ve enjoyed both of your books, especially since I’ve been a trend follower, or trend tracker as I call it, since the 1980’s. I wanted my 17,000 newsletter readers to share in your findings as I am constantly battling the mindless Buy and Hope syndrome. Thanks for your great work.

Review on Daily Speculations.

More naked self-promotion from me in the form of an excerpt from Michael Nystrom’s review of “The Complete TurtleTrader”:

“Buy and hold is dead! The extreme market volatility over the last decade should make this abundantly clear to even casual market watchers, but it is something that good traders have known all along: You trade securities, you don’t marry them. Buying a stock is not a commitment “until death do you part.” A friend once told me the story of a man he knew who worked at Worldcom during the go-go 90’s and had his entire 401(k) invested in the company stock. He was waiting for his account to hit $2 million, and then he was going to cash out. It was almost there - $1.8m, $1.9m - something like that when the stock began its terminal decline. Instead of selling, he held on until the bitter end, until all was lost. Moral of the story: The market is the utlimate authority. It does not listen to you, nor care about your dreams & desires, so you had best learn to listen to it. Stories like the above are not uncommon - just ask the employees of Bear Stearns. These days buy and hold may as well be called buy and hope, which is definitely not a sound strategy. And while there are a near infinite variety of potentially successful trading strategies (as the book Market Wizards shows), some of the most successful strategies have been mechanical trend following systems. You’ve no doubt heard a bit about Richard Dennis, the trend trading pioneer who discussed his mid-1980’s Turtles experiment in Market Wizards. Now, thanks to Michael Covel, we are lucky enough to have access to the whole story. Continue…

In “The Complete TurtleTrader” one of the two female Turtles elected specifically not to be interviewed. Maybe that interview is closer to reality today as I just noticed that Liz Cheval is paying ad dollars to Google for the term “Michael Covel.” That is a nice endorsement of “The Complete TurtleTrader.”

Alex Spiroglou’s review (PDF) recently appeared in Trader Daily.

Some feedback from longtime industry veteran Nelson Freeburg of Formula Research:

Michael, I just finished reading your fine book [The Complete TurtleTrader]. You are a researcher of great diligence and depth. I admire your stress on the entrepreneurial imperative, distinguishing Jerry Parker and Salem Abraham from the rest of the pack. And you are a fine writer with a gift for the apt turn of phrase. (My favorite passage: “Maybe it is that down-to-earth perspective gleaned from living in handshake country [love that phrase!] that gives Abraham a clear perspective.” I also liked your observation about self-actualized individuals who don’t fear striking out so much as missing any possible opportunity to bat.) One piece of advice from this grizzled veteran…for your next book you should find a copy editor who can do justice to your literary and investigative skills. You are an authentic talent. With best wishes and many thanks…Nelson Freeburg

Vivek Kaul’s review from India.