In the first couple of books at least he said he had a system but could never get his personal account up above $100K, etc. I don't remember him talking about managing other people's money.... Just read the jacket cover of his latest book. You're correct, it says he's currently the co-portfolio manager for ADM Investor Services Diversified Strategies Fund. Should we ask him if he thinks Trends exist, now that we're more impressed with his qualifications? What about some of the famous traders he's interviewed in the other books (haven't read this one yet), should we tell them YOU know they're wrong about Trends?
What do you think the answer is surf. Seems you're just being argumentative without giving any answers. And the statement that a random generated chart looks like a stock in a trend does not prove a correlation.
I'm already name checked in all of Covel's books and talked to wizard jack regarding an investment several times. I know the folks you read about in books-- most don't believe trends exist or can be defined including trend legend Ed seykota.
Positions are not held forever. You know your exits before you enter. If markets whipsaw you get in/out/in/out and those small losses add up to equal DD. Not breaking new ground here...
Steve Brechtel, formerly of Trout and Crabel, and now with Two Sigma is on the podcast: http://itunes.apple.com/us/podcast/trend-following-manifesto/id151217747
Tro@t and crab@l. 2 of the best, looking forward to the podcast! Wonder what those 2 think of trend following??