Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets

The legendary trading strategy in depth from A to Z Michael Covel s Trend Following reveals the truth about a trading strategy that makes money in up, down and surprise markets. By applying straightforward and repeatable rules, anyone can learn to make money in the markets whether bull, bear, or black swan by following the trend to the end when it bends. In this timely reboot of his bestselling classic, Michael Covel dives headfirst into trend following strategy to examine the risks, benefits, people, and systems. You ll hear from traders who have made millions by following trends, and learn from their successes and mistakes insights only here. You ll learn the trend philosophy, and how it has performed in booms, bubbles, panics and crashes. Using incontrovertible data and overwhelming supporting evidence, with a direct connection to the foundations of behavioral finance, Covel takes you inside the core principles of trend following and shows everyone, from brand new trader to professional, how alpha gets pulled from the market. Covel s newest edition has been revised and extended, with 7 brand new interviews and research proof from his one of kind network.  This is trend following for today s generation. If you re looking to go beyond passive index funds and trusting the Fed, this cutting edge classic holds the keys to a weatherproof portfolio. Meet great trend followers learning their rules and philosophy of the game Examine data to see how trend following excels when the you–know–what hits the fan Understand trend trading, from behavioral economics to rules based decision–making to its lambasting of the efficient markets theory Compare trend trading systems to do it yourself or invest with a trend fund Trend following is not prediction, passive index investing, buy and hope or any form of fundamental analysis. It utilizes concrete rules, or heuristics, to profit from a behavioral perspective. Trend Following is clear–cut, straightforward and evidence–based and will secure your financial future in bull, bear and black swan markets. If you re finally ready to profit in the markets, Trend Following is the definitive treatise for a complex world in constant chaos. INDICE: Foreword .Preface .Section I: Trend Following Principles .Chapter 1: Trend Following .Speculation .Winning v. Losing .Investor v. Trader .Fundamental v. Technical .Discretionary v. Systematic .Hiding in Plain Sight .Change Is Life .Follow the Trend to the End When It Bends .Surf the Waves .Chapter 2: Trend Followers .David Harding .Bill Dunn .John W. Henry .Ed Seykota .Keith Campbell .Jerry Parker .Salem Abraham .Richard Dennis .Richard Donchian .Jesse Livermore .Dickson Watts .Chapter 3: Performance Data .Absolute Returns .Volatility v. Risk .Drawdowns .Correlation .Zero–Sum .George Soros .Berkshire Hathaway .Chapter 4: Big Events, Crashes and Panics .Great Recession .Dot–com Bubble .Long–Term Capital Management .Asian Contagion .Barings Bank .Metallgesellschaft .Black Monday .Chapter 5: Thinking Outside the Box .Baseball .Billy Beane .Bill James .Stats Take Over .Chapter 6: Human Behavior .Prospect Theory .Emotional Intelligence .Neuro–Linguistic Programming .Trading Tribe .Curiosity Not PhDs .Commitment .Chapter 7: Decision–Making .Occam s Razor .Fast and Frugal Decision–Making .Innovator s Dilemma .Process v. Outcome v. Gut .Chapter 8: The Scientific Method .Richard Feynman .Critical Thinking .Linear v. Nonlinear .Compounding .Chapter 9: Holy Grails .Buy and Hope .Warren Buffett .Losers Average Losers .Avoiding Stupidity .Chapter 10: Trading Systems .Risk, Reward & Uncertainty .Five Questions .Your Trading System .Frequently Asked Questions .Chapter 11: The Game .Acceptance .Don t Blame Me .Decrease Leverage Decrease Return .Fortune Favors the Bold .Section II: Trend Following Interviews .Chapter 12: Ed Seykota .Chapter 13: Martin Lueck .Chapter 14: Jean–Philippe Bouchaud .Chapter 15: Ewan Kirk .Chapter 16: Alex Greyserman .Chapter 17: Campbell Harvey .Chapter 18: Lasse Pedersen .Section III: Trend Following Research .Chapter 19: A Multicentennial View of Trend Following .Chapter 20: Two Centuries of Trend Following .Chapter 21: Trend Following: Quality, Not Quantity .Chapter 22: Evaluating Trading Strategies .Chapter 23: Black Box Trend Following Lifting the Veil .Chapter 24: Risk Management .Chapter 25: How to Grab a Bargain Trading Futures Maybe .Chapter 26: Why Tactical Macro Investing Still Makes Sense .Chapter 27: Carry and Trend in Lots of Places .Chapter 28: The Great Hypocrisy .Chapter 29: Who Are You? .Epilogue .Trend Following Podcast Episodes .Notes .Bibliography .Acknowledgments .About the Author .Index

• ISBN: 978-1-119-37187-8
• Editorial: John Wiley & Sons
• Encuadernacion: Cartoné
• Páginas: 672
• Fecha Publicación: 17/05/2017
• Nº Volúmenes: 1
• Idioma: Inglés