Podcast appearances and mentions of bill eckhardt

Jerry Wagner has the “only mutual fund that holds gold bullion.” He breaks down the difference between ETF expenses and the expenses of his mutual fund. His company is adding a new “managed futures” fund to its portfolio with a famous Chicago trader behind it, Bill Eckhardt. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

In his first podcast episode ever, Bill Eckhardt emphasizes that successful trading hinges more on risk control than on predicting market movements, a theme that resonates throughout his conversation with Moritz Siebert and Rob Sorrentino. The episode explores Eckhardt's journey from the renowned Turtle trading experiment to his current systematic trading strategies at Eckhardt Trading Company. The conversation provides insights into the evolution of trading strategies, the importance of maintaining emotional discipline, and the necessity of adapting to changing market conditions. The discussion also delves into the challenges of overfitting in trading models and the significant role that robust statistical methods play in managing risk. With anecdotes about the unique characteristics of traders and the importance of maintaining a diversified portfolio, this episode offers a fascinating look into the mind of a trading legend and the principles that guide his enduring success.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Learn more about Eckhardt Trading Company here.Follow Moritz on Linkedin.Episode TimeStamps: 02:30 - Introduction03:59 - Eckhardt's relationship to Richard Dennis06:34 - Can trading be taught?08:50 - The story behind the trading rules12:32 - What characterises Eckhardt Trading?13:44 - How did their perception of risk change over the years?22:01 - Why

Bill Eckhardt’s comments on adding discretion to Systematic Trading. IT'S TRUE - most CIO's read 50+ books each year! Get your copy of the Ultimate Guide to the Best Investment Books ever written here. Follow me at @TopTradersLive And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast. Subscribe on:

Caroline Sasseville walks us through commodities—what they are, how their returns behave, and what investors should consider before investing. Bill Eckhardt of Eckhardt Trading Company tells us about trend following and his legendary commodities experiment with the “turtle traders.” This podcast was recorded on April 8, 2019. The views expressed in this recording are the personal views of the participants as of the date indicated and do not necessarily reflect the views of AQR itself. AQR and its affiliates may have positions (long or short) or engage in securities transactions that are not consistent with the information and views expressed in this presentation. This recording has been prepared solely for informational purposes. Nothing contained in this podcast constitutes investment, legal, tax or other advice, and it should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy. Past performance is no guarantee of future results. There can be no assurance that any investment strategy will be successful. The investment strategies and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. The information in this recording is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. AQR does not assume any duty to update forward looking statements. The information in this recording has been developed internally and/or obtained from sources believed to be reliable; however, no representation or warranty, express or implied, is made or given by or on behalf of AQR as to the accuracy and completeness or fairness of the information contained in this recording. Any liability as a result of this recording (including any direct, indirect, special or consequential loss or damage) is expressly disclaimed. ©2019 AQR Capital Management, LLC. All rights reserved.

Today I would like to share some really great and unique takeaways from  a conversation I had with the one and only Richard Dennis, the father of the Turtle Project from back in the 1980’s as well as two of his turtles, namely Brian Proctor and Jerry Parker.  In our conversation we put the record straight for the first time on a number of myths about the Turtle experiment including How the Turtles got their name, and if the original rules that were applied with great success 30+ years ago would still be relevant today, and also how long it took Jerry and Brian to make sense of them.  So let’s get straight to it, starting off with the very beginning of The Turtle story.  If you want to catch the full episode then just go  click here How The Turtle Got It's Name Niels: Now there has, over the last three decades, been so much talk about how this trading experiment was named: what the inspiration for the Turtle name really was. Some people say that it was related to you seeing a turtle farm in Singapore I think I heard, and another story I heard was it was related to a rock band called The Turtles that performed back then. Why don't you put us all out of suspense and share with us the true story about how the name came about.  "...you're going to get a "Heavens NO!" on that one" Richard:  I'm going to stick with the first story about the turtles in Singapore. That actually, that's how they got the name, it was kind of a misnomer but it sort of stuck. If I had a dollar for every plastic turtle that people have given me, I'd be indeed rich.  Niels: But also, talking about the name itself, and I wonder whether seeing the turtles in Singapore or something that happened years before you did the program, but I also wanted to talk about the inspiration for the idea behind creating the Turtle Program. Again, we hear so many stories relating to, one that seems to be very popular is that you and your partner back then, Bill Eckhardt, having seen the movie Trading Places with Dan Aykroyd and Eddie Murphy, where there was a bet made about how you could train anyone to be successful in trading.  Richard:  That you're going to get a "Heavens NO!" on that one.  Niels: Oh well good! Excellent, excellent! Well, can you share with us how the whole idea behind the Turtle Program came about?   Richard:  Sure, so one lazy Sunday afternoon I was hanging out with Johnny Walker Black, and I started to think about my own trading and realized that a lot of it was just sort of rules that were informal and that I noticed that other traders operated according to rules. Also, some of those rules were very bad, like a lot of traders at that time, their one rule was always buy soy beans.    Having thought about my trading and the rules, it seemed to me that, at that time, just to put a number on it, I thought that two-thirds of trading was following rules and maybe one-third was intuition - the dreaded flare that we talked about during the course and that. So, as the ice cubes melted, I started to make some notes about what I thought was true; what you could do to prove it. It could turn out to be one of those endless debates that never comes to any conclusion. It seemed to me that we could resolve the question by trying to train people and giving them rules and talking to them about intuition and things like that, and that was the genesis. And nobody told me it was a great idea, but nobody wanted to tell me it was stupid either, so we did it Niels: Sure, sure.  How long before the actual program started? Was this something that you reacted on very quickly and said, "Yeah, this is a great idea, let me do it." Or did it have to sink in for a while before you created the program?  Richard:  It was only a couple of months before we put the things in motion, like advertisements in newspapers, that lead to starting in January of '84. So, not such a long period of time after I thought of it.  Niels: Fantastic!

Michael shares the Preface and Chapter One of his book, “The Complete TurtleTrader.” “The Complete TurtleTrader” is a classic nature vs. nurture story starring famed traders Richard Dennis and Bill Eckhardt. Are people born with the innate ability to trade? Or can it be taught? Dennis believed that anyone could be taught to trade successful with the right set of rules, Eckhardt disagreed – and from there this epic experiment was born. These men took 23 novice traders, gave them millions and taught them how to be successful on Wall Street. In this episode of Trend Following Radio: Nature vs. Nurture Efficient markets Beating the market Systems trading Behavioral finance

Michael throws Jeff Bezos, Amazon and trend following into a giant melting pot. Jeff Bezos is a trend following trader – along with venture capitalists, Hollywood, the MIT black jack team, Warren Buffett (to some degree, yes), and many more. Michael notes an excerpt from a document written in 1983, gleaning wisdom from Richard Dennis and Bill Eckhardt. Not relevant today? Think again. Richard Dennis makes it clear in the document that you never know where the next home run is coming from – missing a big payout is just as bad as taking a loss. Are you guilty of forgetting about big opportunity when trading? Do you focus too much on your downside? Most unfortunately get fixated on the downside and ignore the positive unknown. Michael also notes an article written by Li Jiang titled, “What I Learned From Reading Every Amazon Shareholders Letter.” Li lists key lessons he has pulled from shareholder letters: type I and type II decisions, end each day of business like it is the first day, always operate like a hungry upstart, only the paranoid survive, make small bets because you can’t predict anything, move fast and break things, and if you are offered a seat on a rocketship – don’t ask which seat, just get on. Jeff Bezos’ words dovetail seamlessly with trend following philosophy. Thinking outside the box is essential to making great things can happen. In this episode of Trend Following Radio: Jeff Bezos Amazon Type 1 errors/decisions Type 2 errors/decisions Sunk cost Opportunity cost Prediction Trend following is dead?

Michael releases another mega episode with three trend following traders: Chris Cruden, Salem Abraham and Brian Proctor. Chris Cruden has been in the trend following space for over 25 years. In 1988 he became a Director of Adam, Harding and Lueck Asset Management Ltd (AHL) in London, a famed trend following shop. He is currently the head of Insch Capital Management. Salem Abraham is the President of Abraham Trading Company with a 27-year track record (with much trend following success). Over the years, Abraham has been kind enough to offer Covel fantastic insights. Abraham also appeared in Covel’s film, Broke, and is the last chapter of The Complete TurtleTrader. Brian Proctor is an original TurtleTrader trained by Richard Dennis and Bill Eckhardt and today is a Managing Director at EMC Capital. He began his futures career in 1982, with experience at both the Chicago Mercantile Exchange and Chicago Board of Trade. Proctor was a participant in the renowned Turtle Program, and managed all trading operations at C&D Commodities through 2000. In this episode of Trend Following Radio: Price action Trading only currency Benchmark and time period selection Don’t force the system If you can’t measure it, you can’t manage it Markets teach humility Swiss Franc and Crude Oil Asian economics Location independence The Turtle program Diversification Black Swans

My guest today is Brian Proctor, an original TurtleTrader trained by Richard Dennis and Bill Eckhardt and today is a Managing Director at EMC Capital. He began his futures career in 1982, with experience at both the Chicago Mercantile Exchange and Chicago Board of Trade. Proctor was a participant in the renowned Turtle Program, and managed all trading operations at C&D Commodities through 2000. The topic is Trend Following. In this episode of Trend Following Radio we discuss: Proctor's first trading moments and the Turtle program Proctor's view on Liz Cheval, what she brought to his firm, and why she's still an integral part of EMC today How trend following strategies have continued to excel over the years Diversification and the Swiss franc Black swans and how the impossible can and does happen Bill Eckhardt's influence 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!

Michael Covel speaks with Brian Proctor on today’s podcast. Proctor is an original TurtleTrader trained by Richard Dennis and Bill Eckhardt and today is a Managing Director at EMC Capital. He began his futures career in 1982, with experience at both the Chicago Mercantile Exchange and Chicago Board of Trade. Proctor was a participant in the renowned Turtle Program, and managed all trading operations at C&D Commodities through 2000. Covel and Proctor discuss Proctor’s first trading moments and the Turtle program; Proctor’s view on Liz Cheval, what she brought to his firm, and why she’s still an integral part of EMC today; how trend following strategies have continued to excel over the years; diversification and the Swiss franc; black swans and how the impossible can and does happen; and Bill Eckhardt’s influence. For more information on Brian Proctor, visit emccta.com. Want a free trend following DVD? Go to trendfollowing.com/win.

Michael Covel talks with Dan Collins of the Dan Collins Report. Collins was the managing editor at Futures Magazine for over a decade, and has talked with many trend following traders. Recently, he put out an interesting post on his website commenting on an article called "Quant Hedge Funds Hit By US Bonds Sell-Off" which originally appeared in the Financial Times. Covel and Collins discuss the article and other subjects such as why trend followers are speculators rather than investors; why the Financial Times article showed a misunderstanding of trend following in general; headlines and what drives them; equity-centric writers; why long term trend following is disrespected and why there is a bias towards higher frequency, shorter term traders; why keeping it simple is a good strategy; fees in the managed futures and options industry; "volatility value trading"; "style drift"; why quality trend following traders under the umbrella of "managed futures" allow some lesser strategies to "free ride" on their success; different time horizons in trend following; and why trend following is declared "dead" so often. Collins also shares his views on several traders (Michael Clark, Bob Moss, Bill Dunn, Salem Abraham, and Bill Eckhardt) with short synopses of their styles and trading personalities. Collins provides a wealth of information and insight and some eye-openers along the way. Would you like a free trend following DVD? Go to: www.trendfollowing.com/win.

My guest today is David Cheval. Cheval was an inside witness to Richard Dennis and Bill Eckhardt's famed Turtle experiment. Through the involvement of his former wife, famed original TurtleTrader Liz Cheval, David Cheval's history and background for the Turtle story comes from a unique vantage point. The topic is Turtle Trading. In this episode of Trend Following Radio we discuss: Events surrounding the Turtle experiment, including his own interesting part in alerting his former wife to the opportunity (he is still an investor in her firm) Cheval's progression from a runner on the Chicago pits, to the formation of his CPO (Dearborn Capital Management), to his career in law today The presence of Richard Dennis on the Chicago Board of Trade in the years prior to the Turtle experiment Some of the lessons that can be gleaned from some of the most successful Turtles The difference between volatility and risk Why basic trend following philosophies are timeless 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!

Michael Covel talks to David Cheval. Cheval was an inside witness to Richard Dennis and Bill Eckhardt's famed Turtle experiment. Through the involvement of his former wife, famed original TurtleTrader Liz Cheval (www.emccta.com), David Cheval's history and background for the Turtle story comes from a unique vantage point. Cheval talks with Covel about the events surrounding the Turtle experiment, including his own interesting part in alerting his former wife to the opportunity (he is still an investor in her firm). They also discuss Cheval's progression from a runner on the Chicago pits, to the formation of his CPO (Dearborn Capital Management), to his career in law today; the presence of Richard Dennis on the Chicago Board of Trade in the years prior to the Turtle experiment; some of the lessons that can be gleaned from some of the most successful Turtles; the difference between volatility and risk; and why basic trend following philosophies are timeless. Cheval's oral history is a nice addition to Michael Covel's classic TurtleTrader book "The Complete TurtleTrader" (www.turtletrader.com). Special Offer: receive free DVD delivered to your home or office: www.trendfollowing.com/win.

My guest today is Van Tharp. Tharp runs the Van Tharp Institute and is the author of four acclaimed books. He was also featured in Jack Schwager's Market Wizard's: Interviews with Great Traders. Van Tharp received his Ph.D. in psychology, is a certified Master Practitioner of Neuro Linguistic Programming (NLP), a Certified Master Time Line Therapist, a certified Modeler of NLP, and an Assistant Trainer of NLP. He has used his expertise in NLP to create the successful models of trading and investing upon which so much of his work is based. Tharp also was also considered for the original Turtle program with Richard Dennis and Bill Eckhardt.  The topic is trading psychology. In this episode of Trend Following Radio we discuss: Tharp's psychological expertise to explain why trading psychology is so important to being a successful trader Importance of happiness in relation to trading psychology The influence of Tom Basso, Bill Eckhardt, and Ed Seykota (and his concept of "market's money") The notion of self-sabotage 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!

Michael Covel interviews Van Tharp. Van Tharp runs the Van Tharp Institute and is the author of four acclaimed books published by McGraw Hill: Super Trader, Trade Your Way to Financial Freedom, Safe Strategies for Financial Freedom, and Financial Freedom Through Electronic Day Trading. He was also featured in Jack Schwager's Market Wizard's: Interviews with Great Traders. Van Tharp received his Ph.D. in psychology, is a certified Master Practitioner of Neuro Linguistic Programming (NLP), a Certified Master Time Line Therapist, a certified Modeler of NLP, and an Assistant Trainer of NLP. He has used his expertise in NLP to create the successful models of trading and investing upon which so much of his work is based. Tharp also was also considered for the original Turtle program with Richard Dennis and Bill Eckhardt. Covel uses Tharp's psychological expertise to explain why trading psychology is so important to being a successful trader. Many people attribute the phrase "trading psychology" to Tharp, and he's also done a lot of work in the area of position sizing. Covel and Tharp discuss these topics in addition to the importance of happiness in relation to trading psychology; the influence of Tom Basso, Bill Eckhardt, and Ed Seykota (and his concept of "market's money"); and the notion of self-sabotage. Special Offer: receive free DVD delivered to your home or office: www.trendfollowing.com/win.