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In the second part of our talk with Mike Shell, we delve into the specifics of his program and why most of his clients have 100% of their investments with his firm. He discusses backtesting, risk management, and the differences between purely systematic systems and systems with a discretionary element. Listen in for an inside look at this fascinating firm.

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In This Episode, You\\u2019ll Learn:

• How people should look at Mike\\u2019s 10 year track record and how his models have evolved over that time.
• How much of the strategy is machine run and how much is human run.
• What he does when he backtest a system.
• How he started out as a chartist in the 1990s.
• What is it that he can\\u2019t systematize.
• The difference between a trader that is purely systematic and one that has a discretionary element, however small.
• How his investors use his program.
• What his approach to risk management is and how it plays out with his program.
• Why he doesn\\u2019t take on much short exposure.
• What\\u2019s the biggest challenge with his business right now.
• How to expand the customer base to investment advisors.
• What books Mike would recommend.
• What he\\u2019d do differently if he had to start all over today.

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Resources & Links Mentioned in this Episode

• Technical Analysis of the Financial Markets by John Murphy
• Market Wizards by Jack Schwager
• Trend Following by Michael Covel

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IT\\u2019s TRUE ? \\u2013 most CIO\\u2019s read 50+ books each year \\u2013 get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.

And you can get a free copy of my latest book \\u201cThe Many Flavors of Trend Following\\u201d here.

Learn more about the Trend Barometer here.

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