And Meb start off the conversation with Larry’s origin as a trend follower, and the parallels to trend following and life…. And thank YOU for subscribing, reviewing and listening. Even if you’ve reviewed us before, would you please write even a short one for this episode?
- So how can you become a trend following winner like Hite?
- Lawrence Hite co-founded Mint Investments in 1981.
- He is also a Commodity Trading Advisor and one of the coprincipals of Wizard Trading.
- Hite never diverged from this strategy, and as computers and programs became more commonplace, he upgraded his software to remain on the cutting edge of the business.
Much in demand as a speaker, he has lectured on a range of analytical topics, with a particular focus on great traders, technical analysis, and trading system evaluation. In 1990, he began adding systematic trading of equity markets to the Mint managed futures portfolio. Hite is a hedge fund manager, who, along with Editor Seykota, is one of the forefathers of system trading. Lawrence D. Hite is a hedge fund manager who, along with Ed Seykota, is one of the forefathers of system trading. Lawrence D. Hite is a trailblazing investor who actively shaped the upcoming landscape of system trading as early as the 1980s. During his tenure with Mint Investment Management Company, he helped propel the commodity trading advisor to become the very first business in its discipline to report in excess of $1 billion in assets.
Early life
Each review that you post helps to ensure that word will continue to spread, and that we will all be able to reach & help more people! You can always reach me via or @petershankman on all of the socials. You can also find us at @FasterThanNormal on all of the socials. As of 2010, Hite partnered with International Standard Asset Management to create a multi-strategy platform of liquid hedge fund strategies as well as a fund of managed accounts. Mint’s achievements won Hite and his team industry wide acclaim, and in 1990 Jack Schwager dedicated a chapter of his bestselling book, Market Wizards, to Hite”s trading and risk management philosophy. First, we probably trade more markets worldwide than any other money manager.
- In 1990, Jack Schwager dedicated a chapter of his bestselling book, Market Wizards to Hite’s trading and risk management philosophy.
- Larry is an ADHD investor, trend follower and pioneer of system trading and the guaranteed fund concept.
- You have to process it and you have to think that most of the information available, like most opinion, is suspect.
- BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups.
- Understand what it takes to succeed, and hear it in the words of the Market Wizards themselves.
understanding technical analysis never diverged from this strategy, and as computers and programs became more commonplace, he upgraded his software to remain on the cutting edge of the business. Back then – just as he does now – he advocated volatility tracking of at least 10 to up to 100 days in order to make an educated investment decision. 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. Small town guy starts at a 1970s gas station and becomes a trading legend worth $100 million. Needs to review the security of your connection before proceeding.
By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical. The empowering story of Larry Hite’s unlikely rise to the top of the hedge fund world – with critical insights and lessons you can take to the bank….
In this video, Michael Covel, author of the best selling book, Trend Following, interviews Larry Hite who is one of the most successful traders, investors, and trend followers of the last 25 years. He is a hedge fund manager and commodities trader who is one of the forefathers of system trading. He is widely considered one of the top 100 investors of the 20th century. He established Mint Investment Management Company and achieved an annual return of more than 30% or more before fees for 13 years.
If you diversify, control your risk, and go with the trend, it just has to work. When autocomplete results are available use up and down arrows to review and enter to select. Touch device users, explore by touch or with swipe gestures.
Obituary for Larry Francis Hite
Second, we don’t just use a single best system. To provide balance, we use lots of different systems ranging from short to long term. Some of these systems may not be that good by themselves, but we really don’t care; that is not what they are there for. Throughout my trading career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you. BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups.
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Hite retired from active management in 1994 and currently is a managing director at Hite Capital Management LLC. In 1990, Jack Schwager dedicated a chapter of his bestselling book, Market Wizards, to Hite’s trading and risk management philosophy. In the same year, Hite began adding systematic trading of equity markets to the Mint managed futures portfolio. During this time, he also formed a partnership with the Man Group and pioneered the principal protected fund concept, leading to a number of successful structured products and financial engineering innovations. So how can you become a trend following winner like Hite? Hite first read an article about commodity trading in Playboy.
Larry Hite: Trend Follower Profiled in The Market Wizards
However, after several incidents caused him to question his career path, he decided to enter the world of investments as a stockbroker in 1968. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you.
Download my free ebook with 7 ADHD Success Tips from superheroes like Seth Godin and Hal Elrod when you sign up for my email list. Michael W. Covelserves as President of Trend Following , a privately owned research firm. In 1996, Covel colaunched TurtleTrader.com. You have to stay supremely focused on exactly what is relevant. What can you actually know that’s not just someone’s opinion?
He co-founded Mint Investments in 1981, which became the largest commodity trading advisor in the world in terms of assets under management by 1990. Having retired from Mint in 1994, Larry is now the managing director of Hite Captial LLC. My guest today is Larry Hite, a hedge fund manager, who, along with those like Ed Seykota, is one of the forefathers of system trading. He has been profiled and recognized as one of the best in the industry in numerous major international publications.
Some people questioned why poker players were in a film primarily about markets and the recent economic crisis. Unknown to many, there is a great connection between successfully trading and successfully playing poker. The winning traders and the winning poker players both think in terms of odds. Hite is one of my favorite traders and favorite people. More importantly, how can his experience help translate to increasing your net worth? He said that he failed at blocks in kindergarten.
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However, after several incidents, he decided to become a stockbroker in 1968. Listen Score is a metric that shows the estimated popularity of this podcast compared to other rss-based public podcasts in the world on a scale from 0 to 100. Is the definition of a market veteran, he’s someone who first developed an interest for trading and markets during the 60’s… Besides a reputation for extreme… Larry Hite is the author of books such as The Rule. Jack D. Schwager is Director of Futures Research and Trading at Prudential Securities. He formerly held similar positions at Paine Webber and Smith Barney, with a total of twenty-two years’ experience heading up futures research departments.
Forextraders’ Broker of the Month
Over the course of time, he built a system that placed the investment behaviors of people as a constant, while making the commodities the variables. Larry Hite co-founded Mint Investments in 1981. By 1990, the company had become the largest commodity trading advisor in the world in terms of assets under management. In 1986, BusinessWeek awarded Hite its annual Best of Award. Lawrence Hite co-founded Mint Investments in 1981. By 1990, Mint had become the largest commodity trading advisor in the world in terms of assets under management.
Larry Hite has built a reputation for taking hedge fund management to the next level. He is considered legendary in that he consistently managed to get clients actively involved in the trading method, leading to increased investor commitment to the entire trading process. A 1986 Business Week article jokingly sets him apart from what is termed a stereotypical “wild-eyed” trader in commodities. While in college, Hite was a rock music promoter and managed musicians’ performances rather than their money. A sometime actor and screenwriter, he eventually got serious about staying with the music business.
That spurred him to go see the local winner who was working as a commodities broker in the neighborhood. This broker explained that if Hite put down $2,000, he could make $1,000 a day. Hasn’t everyone heard some version of that scam? Larry Hite is an entrepreneur, hedge fund manager and philanthropist.
During his 13-year tenure at https://forexbitcoin.info/, the composite of funds achieved a compounded annual rate of return greater than 30% before fees during that period. Hite pioneered the use of the “guaranteed fund” concept, which helped Mint become the first hedge fund to raise over $1 billion. Understand what it takes to succeed, and hear it in the words of the Market Wizards themselves. His writing has appeared in many publications, including the Handbook of Futures Markets, The New York Times, and Forbes.
He is also a Commodity Trading Advisor and one of the coprincipals of Wizard Trading. Just a moment while we sign you in to your Goodreads account. When a market makes a historic high, it is telling you something. No matter how many people tell you why the market shouldn’t be that high, or why nothing has changed, the mere fact that the price is at a new high tells you something has changed. Never risk more than 1% of total account equity on any one trade.
The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. Not surprisingly, Hite has been frequently asked to divulge his secrets for success, and one thing that he stresses consistently is the need for diversification and cutting edge technology. Diversification is a means for reducing the risk inherent to trading. Technology, in the form of computerization, largely eliminates the human error component when analyzing data.
