Ep. 76: Jack Schwager Interview with Michael Covel on Trend Following Radio

My guest today is Jack Schwager, a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. Schwager is one of the founders of Fund Seeder, a platform designed to find undiscovered trading talent worldwide and connect unknown successful traders with sources of investment capital. Previously, Schwager was a partner in the Fortune Group (2001-2010), a London-based hedge fund advisory firm.  The topic is his book Market Sense and Nonsense: How the Markets Really Work (and How They Don't). In this episode of Trend Following Radio we discuss: How Schwager was able to make "Market Sense and Nonsense" accessible to both professionals and laymen and touch on some of the subjects contained within: market fallacies and misconceptions The idea of cable news "experts", and what would happen if you actually followed all of the picks made by people like Jim Cramer and other talking heads Comparing performance streams against each other, and why you have to consider more than just the number Volatility vs. risk If coming to a good risk adjusted return is based more on a scientific approach or personal preference Leveraged ETFs The fear of hedge funds The idea of leverage and why much of "Market Sense and Nonsense" was built around trying to understand it Why fund-to-fund managers putting a large group of trend following traders together in one portfolio might not be a wise move Presidential election and discuss why whoever is selected to be the next president might not make much of a difference in the markets Jump in! --- I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!