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“You’re going to make a lot of money doing this…” | Jerry Parker, The Full Turtle Story | #14

“You’re going to make a lot of money doing this so you should love everything about the system that’s going to produce all those profits. All you have to do is have the confidence and the faith to keep going and do those trades. That’s the only thing that stands between you and your best chance of achieving what you want to achieve.”

Today we will continue our conversation with Jerry Parker the founder of Chesapeake Capital and widely known as the most successful Turtle ever.

After wrapping up his position with Richard J. Dennis as a famous “Turtle,” he went on to start his own asset management firm, Chesapeake Capital Corporation.

In this episode we discuss the evolving CTA industry and the story of Chesapeake. It’s a powerful story from one of the most successful people in the industry. We really hope you enjoy it. Welcome to episode 14 of Top Traders Unplugged.

In This Episode, You’ll Learn:

  • How the research and complexity of systems has a backwards effect to making money
  • Challenges with entering stock markets with CTA strategies
  • Why counting the trades and analyzing sample size is what most investors forget to ask when seeking fund managers

“I think the biggest enough complaint that investors have about CTA firms is that there aren’t enough stocks”

  • Where the CTA managers have failed investors
  • How Jerry Parker handles emotions during drawdowns
  • Why markets have changed so that longer term focus has proven more successful
  • Learn about the philosophy of “The Markets are the Heroes”

“You sort of have to look at yourself as a martyr, being willing to suffer pain and do what most people find hard to do; stick to a game plan, even when it’s not going well”

  • Important lessons from a long, successful career in the CTA industry
  • What is it that keeps investors from Turtle CTAs and choose larger financial organizations
  • Why we see a skewed distribution towards profitability of long side trades and short side trades
  • The key legacy traits left behind by the Turtles and if the experiment could be replicated now
  • Why Jerry Parker’s contribution to the CTA space will be that he sticks with the plan and be the last one going down with the trend following ship

“That is really the essence of what we do. No one can predict what will happen. The trend following rules will put us in a good situation usually if something happens that’s never happened before.”

  • Lessons for upcoming CTA managers from Jerry Parker
  • Debunking trading cliches like, “you never go broke taking a profit” and “exits are more important than entries”
  • Personal habits that have contributed to Jerry Parker’s success
  • How Jerry Parker would start if he were to start all over again

Resources & Links Mentioned in this Episode:

Sponsored by Swiss Financial Services and Saxo Bank:

Saxo Bank Sponsor of Top Traders Unplugged

Connect with Chesapeake Capital:

Visit the Website: www.chesapeakecapital.com

Call Chesapeake Capital: +1 804 836 1617

E-Mail Chesapeake Capital: clientservices@chesapeakecapital.com

Follow Jerry Parker on Linkedin & Twitter

 “To be successful, I believe you should commit yourself to a systematic approach”

2 Comments

  1. Stefan on 11/28/2015 at 5:32 AM

    Niels,

    Thank you very much for a great interview. So many important points about equities in portfolio, risk, leverage, indexing, managed futures products…

    Stefan

    • Niels Kaastrup-Larsen on 12/05/2015 at 10:15 AM

      Hallo Stefan,
      Great to hear that you are finding it useful. That is the best feedback I can ask for and I’m grateful for your continued support.
      All the best
      Niels

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