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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 27, 2012

My guest today is Darren Kottle, the Chief Investment Officer of Caddo Capital Management LLC, and sub-advisor to an alternative/hedged strategy at Catalyst Funds.

The topic is hedge fund.

In this episode of Trend Following Radio we discuss:

  • Kottle's early experiences in the market, starting off in a discount stock brokerage
  • His experiences working with a Nobel laureate Kenneth Arrow at Stanford
  • The sources of trend following profit
  • George Soros' concept of reflexivity
  • The importance and believing in your system to the core
  • Thoughts on investment banks
  • The pivot point for Kottle to fully embrace a trend following system
  • What the Turtle story did for him when he first heard it
  • Uncertainty vs. being wrong
  • The percentage of people that truly understand that "it's all reflected in the price"

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:

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