Michael W. Covel (born September 1, 1968) is a
bestselling
A bestseller is a book
A book is a medium for recording information in the form of writing or images, typically composed of many pages (made of papyrus, parchment, vellum, or paper) bound together and protected by a cover. The tec ...
author
An author is the writer of a book, article, play, mostly written work. A broader definition of the word "author" states:
"''An author is "the person who originated or gave existence to anything" and whose authorship determines responsibility f ...
,
entrepreneur
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values t ...
, and
film director
A film director controls a film's artistic and dramatic aspects and visualizes the screenplay (or script) while guiding the film crew and actors in the fulfilment of that vision. The director has a key role in choosing the cast members, ...
.
[Torbenson, Eri]
Why We Shouldn’t Bail Out The Big Three Automakers
''New York Post''. November 16, 2008.[Michael Covel]
''OVGuide''. In 1996, he co-founded TurtleTrader.com, later expanded into TrendFollowing.com, a popular online resource focused on investment style known as
trend following
Trend following or trend trading is a trading strategy according to which one should buy an asset when its price trend goes up, and sell when its trend goes down, expecting price movements to continue.
There are a number of different techniques, ...
, which allows investors to profit in both up and down markets.
[Michael Covel: Trend Following Ambassador]
''Hedge Fonder''. January 9, 2011.[Kahn, Michae]
''Barrons''. September 23, 2009.[Michael Covel]
''Financial Gurus''.
Early life
Covel was born in
Quantico, Virginia
Quantico ( or ; formerly Potomac) is a town in Prince William County, Virginia, United States. The population was 480 at the 2010 census. Quantico is approximately 35 miles southwest of Washington, DC, bordered by the Potomac River to the east a ...
.
He graduated with a B.A. in Politics and Government from
George Mason University
George Mason University (George Mason, Mason, or GMU) is a public research university in Fairfax County, Virginia with an independent City of Fairfax, Virginia postal address in the Washington, D.C. Metropolitan Area. The university was orig ...
and received his
M.B.A.
A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accoun ...
from
Florida State University.
Career
Writing
;Trend Following
Covel's first book was '' Trend Following: Learn to Make Millions in Up or Down Markets'' (FT Press
Financial Times Press in the United States and Financial Times Publishing in the United Kingdom are the book publishing imprints related to the '' Financial Times'' newspaper. The book imprints are owned by Pearson plc, a global publishing compan ...
, April 2004, Nov. 2005, Mar. 2007, Mar. 2009) featuring traders David Harding, John W. Henry
John William Henry II (born September 13, 1949) is an American businessman and investor and the founder of John W. Henry & Company, an investment management firm. He is the principal owner of Liverpool Football Club, the Boston Red Sox, ''The B ...
, Ed Seykota
Edward Arthur Seykota (born August 7, 1946) is a commodities trader, who earned S.B. degrees in Electrical Engineering from MIT and Management from the MIT Sloan School of Management, both in 1969. In 1970 he pioneered Systems trading by using ...
, Richard Donchian
Richard Davoud Donchian (September 1905, in Hartford, Connecticut – April 24, 1993, in Fort Lauderdale, Florida) was an American commodities and futures trader, and a pioneer in the field of managed futures.
The first publicly managed fut ...
, Jesse Lauriston Livermore
Jesse Lauriston Livermore (July 26, 1877 – November 28, 1940) was an American stock trader. He is considered a pioneer of day trading and was the basis for the main character of ''Reminiscences of a Stock Operator'', a best-selling book by ...
and Larry Hite
Lawrence D. Hite is a hedge fund manager who, along with Ed Seykota, is one of the forefathers of system trading. He is the author of the book, ''The Rule: How I Beat the Odds in the Markets and in Life—and How You Can Too,'' which was named a W ...
, among others.[Rudawsky, Gi]
Mystery Trader in Stock Market Crash Outed Yet Questions Remain
''DailyFinance''. May 14, 2010. The book analyzes years of detailed performance data to demonstrate that trend following works.[Book Description]
''Amazon''. The book was an immediate international bestseller, with over 100,000 copies sold to date.[Michael Covel Books]
''Michael Covel''. It was first published by Financial Times Press on April 23, 2004.[
;''The Complete TurtleTrader''
''The Complete TurtleTrader: The Legend, the Lessons, the Results'' (]HarperBusiness
HarperCollins Publishers LLC is one of the Big Five English-language publishing companies, alongside Penguin Random House, Simon & Schuster, Hachette, and Macmillan. The company is headquartered in New York City and is a subsidiary of News Cor ...
, October 2007) tells the story of Chicago commodities trader Richard Dennis
Richard J. Dennis, a commodities speculator once known as the "Prince of the Pit," was born in Chicago, in January, 1949. In the early 1970s, he borrowed $1,600 and reportedly made $350 million in about six years. When a futures trading fund und ...
, along with an oral history of the investment world in the late 20th century.[Review: The Complete Turtle Trader]
“The Simple Dollar”. The book reviews an experiment conducted by Dennis and then partner William Eckhardt in 1983 with "the Turtles," a group of novices turned top traders based on Dennis' trading advice. 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. Covel has cited Jack Schwager
Jack D. Schwager (born 1948) is an American trader
Trader may refer to:
* Merchant, retailer or one who attempts to generally buy wholesale and sell later at a profit
* The owner of a trading post, where manufactured goods were exchanged with na ...
’s book ''Market Wizards
Jack D. Schwager (born 1948) is an American trader
Trader may refer to:
* Merchant, retailer or one who attempts to generally buy wholesale and sell later at a profit
* The owner of a trading post, where manufactured goods were exchanged with na ...
'' as partial inspiration for the book.
;Other Books
In June 2011, Covel released ''Trend Commandments: Trading for Exceptional Returns'', as a trend following primer for novice traders. 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. Covel's books have been translated into more than 10 languages.
Film
;''Broke: The New American Dream''
Covel directed the documentary film ''Broke: The New American Dream'', which premiered on Discovery Channel
Discovery Channel (known as The Discovery Channel from 1985 to 1995, and often referred to as simply Discovery) is an American cable channel owned by Warner Bros. Discovery, a publicly traded company run by CEO David Zaslav. , Discovery Chan ...
. It covers many economic themes,United States housing bubble
The 2000s United States housing bubble was a real-estate bubble affecting over half of the U.S. states. It was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reach ...
, stock-market volatility, and growing economic uncertainty.[Hoenig, Jonathan]
New Movie Challenges Biz Pundits
SmartMoney.com, Dec. 2008. In the film, Covel interviews financial and economist figures like Harry Markowitz
Harry Max Markowitz (born August 24, 1927) is an American economist who received the 1989 John von Neumann Theory Prize and the 1990 Nobel Memorial Prize in Economic Sciences.
Markowitz is a professor of finance at the Rady School of Managemen ...
, Vernon L. Smith
Vernon Lomax Smith (born January 1, 1927) is an American economist and professor of business economics and law at Chapman University. He was formerly a professor of economics at the University of Arizona, professor of economics and law at Georg ...
, Mark Mobius, David Harding, Michael Mauboussin Michael J. Mauboussin (born February 1964) heads consilient research at Morgan Stanley division Morgan Stanley Investment Management's Counterpoint Global, an open-end mutual fund. Previously, he was director of research at BlueMountain Capital an ...
, Larry Hite
Lawrence D. Hite is a hedge fund manager who, along with Ed Seykota, is one of the forefathers of system trading. He is the author of the book, ''The Rule: How I Beat the Odds in the Markets and in Life—and How You Can Too,'' which was named a W ...
, Peter Borish
Peter F. Borish is chairman and CEO of Computer Trading Corporation (CTC), an investment and advisory firm whose largest consulting client is CIBC. He is also a partner in Adam Hoffman's natural gas options trading team at Torsion Technologies, L ...
, Richard Baker, Barry Ritholtz
Barry Ritholtz is an American author, newspaper columnist, blogger, equities analyst, CIO of Ritholtz Wealth Management, and guest commentator on Bloomberg Television. Ritholtz is the host of the Bloomberg Podcast '' Masters in Business'' in which ...
, Chris Van Hollen
Christopher Van Hollen Jr. (born January 10, 1959) is an American attorney and politician serving as the junior United States senator from Maryland since 2017. A member of the Democratic Party, Van Hollen served as the U.S. representative f ...
, and Eric Bolling
Eric Thomas Bolling (; born March 2, 1963) is an American television personality, conservative political commentator, author, and financial commentator. He has occupied numerous roles as a commentator on financial issues for television, most no ...
.[ The film criticizes financial news networks like ]CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sh ...
, stating that they cater to an audience of news junkies in an attempt to score ratings.[Farina, Deleel]
Broke: The New American Dream
''BloggingStocks''. July 21, 2009. The film also analyzes behavioral finance
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals or institutions, such as how those decisions vary from those implied by classical economic theory.
...
, and critiques Americans for not taking personal responsibility for their investment decisions.[Martin, Michae]
Broke: The New American Dream
''Huffington Post''. July 5, 2009.
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''
*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''
*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''
*2021: ''Trend Following Mindset: The Genius of Legendary Trader Tom Basso''
*2023: ''Trend Following Masters - Volume 1: Trading Conversations''
*2023: ''Trend Following Masters - Volume 2: Trading Psychology Conversations''
Films
*2011: ''Broke: The New American Dream''
Podcast
*2012-2023: ''Michael Covel’s Trend Following''[Gray, Wesle]
5 Investing Podcasts You Should Listen To
''The Wall Street Journal''. December 6, 2016.
''Apple Podcasts''.[Top 10 best investing podcasts: Learn from the masters]
''ValueWalk.com''. May 18, 2020.
References
External links
Trend Following
*Gray, Wesley (Dec. 2016)
5 Investing Podcasts You Should Listen To
Wall Street Journal.
*Hogan, Mike (Nov. 2010)
Barrons.
*Torbenson, Eric (Nov. 2008)
New York Post.
*Murali, D. (April 2008)
The Hindu.
*Steenbarger, Brett (Oct. 2007)
TradeFeeder.
*Pressely, James (Nov. 2007)
” 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.
{{DEFAULTSORT:Covel, Michael
American male writers
Living people
1968 births