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Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets Paperback – Feb 15 2009
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“Michael Covel’s Trend Following: Essential.”
--Ed Seykota, trend follower for 35 years and original Market Wizard
"For my staff, Michael Covel's Trend Following is required reading."
Larry Hite CEO, ISAM,
Originally profiled in The Market Wizards by Jack Schwager
"My favorite of the new TA [technical analysis] books is 'Trend Following' by Michael Covel. Straightforward, easy to read, this book is rich in details about why trend following is such a successful strategy amongst some of the world's best-performing hedge funds."
Barry Ritholtz, The Big Picture
“A mandatory reference for anyone serious about alternative investments.”
--Jon Sundt, president and CEO, Altergris
"I think that Michael's Trend Following is an outstanding read from which all
investors can learn to trade markets better by limiting their risks and maximizing
their profits through a more disciplined approach to investments."
Managing Director, Marc Faber Limited
Editor, Gloom, Boom & Doom Report
"I think the book did a superb job of covering the philosophy and thinking behind
trend following (basically why it works). You might call it the Market Wizards of
Van K. Tharp, Ph.D.
Author of Trade Your Way to Financial Freedom
"Michael Covel does an excellent job of educating his readers about the little-known
opportunities available to them through one of the proven best hedge fund
strategies. This book is like gold to any smart investor."
"Michael Covel's book is the definitive guide to trend trading. Backed by real world
results from some of the biggest and best money managers in the United States, his
book will put you on the path to successful trend trading."
"Michael Covel's Trend Following is a breakthrough book that captures the essence
of what really makes markets tick. Diligently researched and comprehensive in
scope, it will replace Market Wizards as the must-read bible for a new generation of
Fox News Contributor
"Trend Following: Definitely required reading for the aspiring trader."
David S. Druz
Tactical Investment Management
"I think that this book documents a great deal of what has made Trend Following
Managers a successful part of the money management landscape (how they manage
risk and investment psychology). It serves as a strong educational justification on
why investors should consider using Trend Following Managers as a part of an
overall portfolio strategy."
Originally profiled in The New Market Wizards
From the Back Cover
Today, you need trend following more than ever. Read this bestselling book, and put it to work for you!
- Real proof, real data, real results
Includes over a decade of detailed performance charts
- All the Information You Need...in One Number
Why the market price still tells you all you need to know to trade--and always will--in both bull and bear markets
- Pinpointing Targets of Opportunity
What to trade, when to trade, and how much to trade
- Meet Today's Leading Trend Followers
Extraordinary trader profiles, from David Harding to John W. Henry to Ed Seykota
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Top Customer Reviews
Most Helpful Customer Reviews on Amazon.com (beta)
If you're looking for strategies about trend following, when to buy or sell, which type of strategies to follow, which strategies successful trend follower use, don't buy this book. It does not disclose anything about trend following systems. I'll summerize...trend following exists, some people make huge money doing it, they view the world this way. That's it.
I firmly believe that this book is highly ranked because the author is a successful and smart marketing individual. He knows how to promote a product, but does not deliver on the value proposition that product offered. Not surprisingly, he also offers expensive on-line programs and class on trend following, a website, and even has an upcoming self-produced documentary. Its a full-court press to sell the idea of trend following, but does not share how. I suspect, hedge funds or CTAs buy this book and give it to clients because its marketing fluff that validates what they do, without saying how they do it. But that it does not make it a valuable book.
Admittely, I'm always skeptical of authors that write about investing. They are making money by selling books not by investing. For more interesting books written by authors that discuss investor, Jack Swagger's New Market Wizards at least provides more insight into the strategies successful investors follow. So too does the "little black book series".
Ironically, I am a trend following. Its something I believe does work for certain individuals. I was hoping to learn more about the strategies of rock-star trend followers, or ideas to help refine my investment approach or strategy. But this had zero information on the actually strategies, process, models, or even how to create a model.
This book, to my mind is like a trading version of a text exploring a specific philosophy such as Taoism with something of a comparisson to Buddhism, for example. Trend Following describes the philosophy and highlights some of its promonent proponents. And just like most books on philosophy, it sets you up for further exploration rather than presenting you with a "how to" instruction.
I think if you have the philosophy mindset going in it will go a long way toward helping you find value in the book.