Preview Mode Links will not work in preview mode

Bestselling author Michael Covel is the host of Trend Following Radio with 15+ million listens. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trading -- all passionately explored and debated. Guests include Nobel Prize winners: Robert Aumann, Angus Deaton, Daniel Kahneman, Oliver Hart, Harry Markowitz & Vernon Smith. More guests: Jack Canfield, Howard Marks, James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams. 1200+ episodes.

Sep 7, 2012

My guest today is Steve Brechtel. Over the past 20 years Brechtel has worked as a trader for three of the top 100 hedge funds in the world: Trout Trading (now Tewksbury Capital) in Chicago and Bermuda, Crabel Capital in Milwaukee, and now Two Sigma in NYC (a $10 billion fund) -- all short-term systematic funds.

The topic is trading.

In this episode of Trend Following Radio we discuss:

  • Brechtel's history, from his beginnings roughing it as a Pizza Hut manager while working an insurance job, to finding his way to Monroe Trout, to working at Crabel, to his career at Two Sigma today
  • History in Virginia
  • Why he was hired at Monroe Trout in the first place as a new trader and the advantages of having a beginner's mind
  • The difference between the short term/systematic traders that Brechtel worked for and the longer term trend following Covel talks about
  • The six strategies Brechtel learned trading the pits
  • What's changed and what's the same now that technology has evolved
  • Ayn Rand, objectivism, and Trout
  • Brechtel's transition from Trout to Crabel, and the differences between these two firms
  • His work at Two Sigma today
  • Brechtel's screenplay ("Unhedged") using hedge funds and high finance as its backdrop
  • Writing the script, how his movie differs from other Wall Street movies
  • Covel talks with him about his experience in making his own documentary, "Broke: The New American Dream"

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!