My guest today is Tom Basso, the trader most famously known as “Mr. Serenity” in Jack Schwager’s “New Market Wizards”. Basso, now retired from managing client money, was president and founder of Trendstat Capital Management. Basso became a registered investment advisor in 1980, a registered commodities advisor in 1984, and was elected to the board of the National Futures Association in 1998. Today, he is a private trader.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

• 50% drop in oil and why trend followers have done especially well with this price movement
• Why people like to blame speculators, and the value of speculation; emotional rushes and emotional devastation
• Mentally rehearsing catastrophic events
• Focusing 1,000 trades into the future
• Separating your trading from your political opinion
• Trend following and behavioral economics
• The importance of not letting your trading define you
• Basso’s advice to newcomers to the CTA industry

Jump in!

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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/

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