The Turtles & Michael Covel

[d-day]

I see that Matt posted a note in his trader report today that Michael Covel is publishing another book - this one about the Famous Turtles of Richard Dennis.

If this book is anything like his first book on trend following, then do not waste your money. Of all the books of purchased on trading, risk, the markets in general, Covel's stands out as the most uninformative, unreadable piece of garbage I have ever been tricked into buying. Shame on Ed Seykota and all those traders who lend an air of legitimacy to Covel and his work.

All you need to know about the Turtles can be found in Dennis's and Gephart's interviews with Jack Schwager and the pdf file Matt sent out yesterday by Curtis Faith, the most successful of the original turtles.

If you wiish more information, I have found the forum at the following web site to most informative: www.tradingblox.com I am not associated or affiliated with Curtis Faith is a principal in Trading Blox, and he participates in the forum over there. So go to the source for your turtle information, and stay away from that parasitic idiot Covel.

The above is just one man's opinion. I hate that I wasted so much time writing this post, but if it saves just one of you from wasting even one thin dime to line Michael Covel's pockets, then it will have been worth my effort.

[stevej]

For what it's worth, I didn't think much of it either!

[inflector]

Thanks for the kind words on the document and our trading forum.

It's funny, the people who don't know anything about trend-following seem to like Mike's book. Invariably, the wider business crowd praises it.

My own book on the story just came out. You can read more about it on my blog site: Way of the Turtle (http://www.wayoftheturtle.com)

As an aside, Ed Seykota is friends with Michael Covel. My friend introduced them in late 2001 when Ed and I were working at Galt Capital.

Michael has done much to promote Ed as one of the most famous trend-followers. It is natural that Ed believes Michael's work is excellent since part of that work includes promoting Ed himself. It's hard not to like someone who lavishes you with praise.

Regards,

Curtis Faith

[jtrade]

Now, boys...

I really like David's contributions to this forum, and Curtis' forum, to which David refers in his post, is one of the very best around, but there's no need to bash Ed Seykota, whose TTP site is also excellent and "definitely different" http://www.seykota.com/tribe/.

As far as I am aware, Ed does not promote any trading websites, but even if he did, surely we're all able to make our own decisions....

;)

J.

PS. I hereby declare my affiliation and bias towards TTP, having taken Ed's workshop last summer. Worth every penny.

[d-day]

Now, boys...

I really like David's contributions to this forum, and Curtis' forum, to which David refers in his post, is one of the very best around, but there's no need to bash Ed Seykota, whose TTP site is also excellent and "definitely different" http://www.seykota.com/tribe/.

As far as I am aware, Ed does not promote any trading websites, but even if he did, surely we're all able to make our own decisions....

;)

J.

PS. I hereby declare my affiliation and bias towards TTP, having taken Ed's workshop last summer. Worth every penny.

I bought Covel's dribble based in large part to Seykota's "essential reading" blurb. I have a very high opinion of Ed Seykota. He's certainly a far better trader than I will ever be. But I do resent such a smart man using his good reputation to help sell such a decidedly unsmart book.

[inflector]

I really wasn't trying to bash Ed at all so I am sorry if I gave that impression. I think any of us would evaluate someone who praised us differently that we would someone who we didn't know.