Michael Covel

Michael W. Covel (born September 1, 1968) is an American author, entrepreneur, and film director. In 1996, he co-founded TurtleTrader.com, later expanded into TrendFollowing.com, a popular online resource focused on investment style known as trend following, which allows investors to profit in both up and down markets.

Early life

Covel was born in Quantico, Virginia. He graduated with a B.A. in Politics and Government from George Mason University and received his M.B.A. from Florida State University.

Career

Writing

Trend Following

Covel's first book was Trend Following: Learn to Make Millions in Up or Down Markets (FT Press, April 2004, Nov. 2005, Mar. 2007, Mar. 2009) featuring traders David Harding, John W. Henry, Ed Seykota, Richard Donchian, Jesse Lauriston Livermore and Larry Hite, among others. The book analyzes years of detailed performance data to demonstrate that trend following works. The book was an immediate international bestseller, with over 100,000 copies sold to date. It was first published by Financial Times Press on April 23, 2004.

The Complete TurtleTrader

The Complete TurtleTrader: The Legend, the Lessons, the Results (HarperBusiness, October 2007) tells the story of Chicago commodities trader Richard Dennis, along with an oral history of the investment world in the late 20th century. The book reviews an experiment conducted by Dennis and then partner William Eckhardt in 1983 with "the Turtles," a group of novices turned top traders based on Dennis' trading advice. The title refers to a strategy that is based on technical analysis of market prices and is used by traders who aim to ride on market trends. Covel has cited Jack Schwager’s book Market Wizards as partial inspiration for the book.

Other Books

In June 2011, Covel released Trend Commandments: Trading for Exceptional Returns, as a trend following primer for novice traders. In August 2011, Covel released The Little Book of Trading: Trend Following Strategy for Big Winners, which teaches the average person investment practices claimed to beat the market, regardless of the financial climate. Covel's books have been translated into more than 10 languages.

Film

Broke: The New American Dream

Covel directed the documentary film Broke: The New American Dream, which premiered on Discovery Channel. It covers many economic themes, including the 2008 United States housing bubble, stock-market volatility, and growing economic uncertainty. In the film, Covel interviews financial and economist figures like Harry Markowitz, Vernon L. Smith, Mark Mobius, David Harding, Michael Mauboussin, Larry Hite, Peter Borish, Richard Baker, Barry Ritholtz, Chris Van Hollen, and Eric Bolling. The film criticizes financial news networks like CNBC, stating that they cater to an audience of news junkies in an attempt to score ratings. The film also analyzes behavioral finance, and critiques Americans for not taking personal responsibility for their investment decisions.

Publishing history

Books

2004: Trend Following: How Great Traders Make Millions in Up or Down Markets

2005: Trend Following: How Great Traders Make Millions in Up or Down Markets, New Expanded Edition

2007: The Complete TurtleTrader: The Legend, the Lessons, the Results

2009: Trend Following: Learn to Make Millions in Up or Down Markets, Updated Edition

2009: The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires

2011: Trend Commandments: Trading for Exceptional Returns

2011: The Little Book of Trading: Trend Following Strategy for Big Winners

2012: Trend Following Analytics: Performance Proof for the World's Most Controversial and Successful Black Swan Trading Strategy

2017: Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets, 5th Edition

2021: Trend Following Mindset: The Genius of Legendary Trader Tom Basso

2023: Trend Following Masters - Volume 1: Trading Conversations

2023: Trend Following Masters - Volume 2: Trading Psychology Conversations

Films

2011: Broke: The New American Dream

Podcast

2012-2024: Michael Covel’s Trend Following