Michael Covel talks to Mike Dever, founder of Brandywine Asset Management and author of "Jackass Investing: Don't Do It. Profit From It." Covel talks to Dever about being an entrepreneur from an early age and making his first investments in his early 20s. Starting with $5,000 in 1979, Dever quickly ran it up to $60,000 and learned some of his first trading lessons along the way. After deciding to set up some systematic trading models to help protect his investments, he put together his first fund in 1981. Dever had some interesting experiences at a fairly young age with some people who became big names on Wall Street: Paul Tudor Jones and John W. Henry. Deciding to get outside brokers to manage a fund to diversify his own business, he ended up starting funds with both of these legendary traders. Covel and Dever discuss some of the myths discussed in "Jackass Investing"; how everybody is a market timer; the stigma against investing in futures; return drivers; the risks you take by being risk averse; and the shift in attitudes towards volatility in America. In 2011, Dever relaunched Brandywine; he discusses why strategies based on sound return drivers are so important to his firm and where he's at today. Dever was on the show many months ago, but this episode goes much more in depth with some really fantastic color regarding the early stages of the managed money world. Note: This is Dever's 2nd appearance on the podcast. Special Offer: receive free DVD delivered to your home or office: www.trendfollowing.com/win.