Michael W. Covel (born September 1, 1968) is an American
author ,
entrepreneur , and
film director .
[1]
[2] In 1996, he co-founded TurtleTrader.com, later expanded into TrendFollowing.com, a popular online resource focused on investment style known as
trend following , which allows investors to profit in both up and down markets.
[3]
[4]
[5]
Early life
Covel was born in
Quantico, Virginia .
[2] He graduated with a B.A. in Politics and Government from
George Mason University and received his
M.B.A. from
Florida State University .
[2]
[3]
Career
Writing
Trend Following
Covel's first book was
Trend Following: Learn to Make Millions in Up or Down Markets (
FT Press , April 2004, Nov. 2005, Mar. 2007, Mar. 2009) featuring traders
David Harding ,
John W. Henry ,
Ed Seykota ,
Richard Donchian ,
Jesse Lauriston Livermore and
Larry Hite , among others.
[6]
[7] The book analyzes years of detailed performance data to demonstrate that trend following works.
[8] The book was an immediate international bestseller, with over 100,000 copies sold to date.
[9] It was first published by Financial Times Press on April 23, 2004.
[9]
The Complete TurtleTrader
The Complete TurtleTrader: The Legend, the Lessons, the Results (
HarperBusiness , October 2007) tells the story of Chicago commodities trader
Richard Dennis , along with an oral history of the investment world in the late 20th century.
[10]
[11] The book reviews an experiment conducted by Dennis and then partner
William Eckhardt in 1983 with "the Turtles,"
[12] a group of novices turned top traders based on Dennis' trading advice.
[13] The title refers to a strategy that is based on technical analysis of market prices and is used by traders who aim to ride on market trends.
[14]
[15] Covel has cited
Jack Schwager ’s book
Market Wizards as partial inspiration for the book.
[16]
Other Books
In June 2011, Covel released Trend Commandments: Trading for Exceptional Returns , as a trend following primer for novice traders.
[17]
[18] In August 2011, Covel released The Little Book of Trading: Trend Following Strategy for Big Winners , which teaches the average person investment practices claimed to beat the market, regardless of the financial climate.
[19]
[20]
[21]
[22] Covel's books have been translated into more than 10 languages.
[23]
Film
Broke: The New American Dream
Covel directed the documentary film Broke: The New American Dream , which premiered on
Discovery Channel . It covers many economic themes,
[3]
[24]
[25] including the 2008
United States housing bubble , stock-market volatility, and growing economic uncertainty.
[24] In the film, Covel interviews financial and economist figures like
Harry Markowitz ,
Vernon L. Smith ,
Mark Mobius ,
David Harding ,
Michael Mauboussin ,
Larry Hite ,
Peter Borish ,
Richard Baker ,
Barry Ritholtz ,
Chris Van Hollen , and
Eric Bolling .
[24] The film criticizes financial news networks like
CNBC , stating that they cater to an audience of news junkies in an attempt to score ratings.
[26] The film also analyzes
behavioral finance , and critiques Americans for not taking personal responsibility for their investment decisions.
[27]
Publishing history
Books
2004:
Trend Following: How Great Traders Make Millions in Up or Down Markets
2005: Trend Following: How Great Traders Make Millions in Up or Down Markets, New Expanded Edition
[28]
2007: The Complete TurtleTrader: The Legend, the Lessons, the Results
2009: Trend Following: Learn to Make Millions in Up or Down Markets, Updated Edition
2009: The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires
[29]
2011: Trend Commandments: Trading for Exceptional Returns
2011: The Little Book of Trading: Trend Following Strategy for Big Winners
2012: Trend Following Analytics: Performance Proof for the World's Most Controversial and Successful Black Swan Trading Strategy
2017: Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets, 5th Edition
[30]
2021: Trend Following Mindset: The Genius of Legendary Trader Tom Basso
[31]
2023: Trend Following Masters - Volume 1: Trading Conversations
[32]
2023: Trend Following Masters - Volume 2: Trading Psychology Conversations
[33]
Films
2011: Broke: The New American Dream
[34]
Podcast
References
^ Torbenson, Eric.
Why We Shouldn’t Bail Out The Big Three Automakers New York Post . November 16, 2008.
^
a
b
c
Michael Covel OVGuide .
^
a
b
c
Michael Covel: Trend Following Ambassador Hedge Fonder . January 9, 2011.
^ Kahn, Michael.
The Trend Is All Right Barrons . September 23, 2009.
^
Michael Covel
Archived 2012-10-18 at the
Wayback Machine Financial Gurus .
^ Covel, Michael (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets (FT Press; 1 Updated edition, February 25, 2009).
ISBN
0-13-702018-X (English)
ISBN
978-0-13-702018-8 (English).
^ Rudawsky, Gil.
Mystery Trader in Stock Market Crash Outed Yet Questions Remain DailyFinance . May 14, 2010.
^
Book Description Amazon .
^
a
b
Michael Covel Books Michael Covel .
^
Review: The Complete Turtle Trader “The Simple Dollar”.
^ Pressley, James.
Richard Dennis, Prince of Chicago Pit, Taught Turtles to Trade . Business Insider . November 1, 2007.
^ Covel, Michael, The Complete TurtleTrader: The Legend, the Lessons, the Results (Collins, October 2007)
ISBN
0-06-124170-9 /
ISBN
978-0061241703
^ Steenbarger, Brett.
Turtle Trading Lessons From Michael Covel , TradeFeed, October 2007.
^ Boon, Rachel
Investment author 'trending' in S'pore AsiaOne Business . February 3, 2016
^
Interview With Michael Covel: Masters in Business (Audio) Bloomberg . February 3, 2016
^ Ritholtz, Barry
Michael Covel Demystifies Trading Bloomberg View . February 3, 2016
^ Covel, Michael.
Trend Commandments: Trading for Exceptional Returns . FT Press, 2011.
^ Staller, Kate.
Forget All You Know About Investing . Forbes . October 25, 2011.
^ Nyaradi, John.
The Little Book of Trading: Interview with Michael Covel
Archived 2012-06-20 at the
Wayback Machine . The Wall Street Selector . September 14, 2011.
^ Covel, Michael.
The Little Book of Trading: Trend Following Strategy for Big Winnings (Little Books. Big Profits) . Wiley Publishing, 2011.
^ Pierce, Jeff.
The Little Book of Trading: Trend Following
Archived 2013-01-19 at
archive.today . Business Insider . August 13, 2011.
^ Skypala, Pauline.
Secrets of winning systems remain hidden . Financial Times . June 9, 2012.
^
Trend Commandments (German) . MichaelCovel.com . March 7, 2012.
^
a
b
c Hoenig, Jonathan,
New Movie Challenges Biz Pundits , SmartMoney.com, Dec. 2008.
^
The Little Book of Trading: Interview With Michael Covel . Seeking Alpha . September 15, 2011.
^ Farina, Deleela.
Broke: The New American Dream BloggingStocks . July 21, 2009.
^ Martin, Michael.
Broke: The New American Dream Huffington Post . July 5, 2009.
^
"9780131345508: Trend Following: How Great Traders Make Millions in Up or Down Markets - Covel, Michael W.: 0131345508 - AbeBooks" . www.abebooks.com . Retrieved 2022-11-12 .
^
"The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires" . HarperCollins.
^
"Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets, 5th Edition" . Wiley.
^
"Trend Following Mindset: The Genius of Legendary Trader Tom Basso" . Harriman House.
^
"Trend Following Masters - Volume 1: Trading Conversations" . Harriman House.
^
"Trend Following Masters - Volume 2: Trading Psychology Conversations" . Harriman House.
^
"Broke: The New American Dream" . Michael Covel.
^ Gray, Wesley.
5 Investing Podcasts You Should Listen To The Wall Street Journal . December 6, 2016.
^
[1] Apple Podcasts .
^
Top 10 best investing podcasts: Learn from the masters ValueWalk.com . May 18, 2020.
External links
Trend Following
Gray, Wesley (Dec. 2016).
5 Investing Podcasts You Should Listen To , Wall Street Journal.
Hogan, Mike (Nov. 2010).
Making the Trend Your Friend , Barrons.
Torbenson, Eric (Nov. 2008).
Why We Shouldn’t Bail Out The Big Three Automakers , New York Post.
Murali, D. (April 2008).
Make the Right Call , The Hindu.
Steenbarger, Brett (Oct. 2007).
Turtle Trading Lessons From Michael Covel , TradeFeeder.
Pressely, James (Nov. 2007).
Bloomberg Review of “The Complete TurtleTrader , ” Bloomberg.com.
Collins, Art (Nov. 2005).
The Truth About The Turtles (Michael Covel Interview) , Yahoo! Finance Financial News.
Cripps, Richard E. (Oct. 2004).
Trend Following , Legg Mason Wood Walker, Inc.
International National Other