Top Turtle's Trading Tips (w/ Jerry Parker) | Skin In the Game

Jerry Parker, CEO of Chesapeake Capital, joins Joe Perry to discuss his investment framework and his storied past as one of Richard Dennis’s “Turtles.” One of 11 traders in Chicago selected by Dennis, and perhaps the most successful trader of the group, Parker lays out his strategies for following trends, portfolio diversification, and maintaining discipline. Filmed April 16, 2019 in New York.

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Top Turtle's Trading Tips (w/ Jerry Parker) | Skin in the Game
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Transcript:
For the full transcript: https://rvtv.io/2DWGRtL
You can't be a Marine by reading a book. You can't really be a turtle trader-- as good a turtle trader as you would, unless you worked for Richard Dennis and Bill Eckhardt. Systematic trend following has a tendency to make money when we see things that have never happened before. I heard Paul Jones speak in 1988 at UVA.
And he talked about being short Japan and making a lot of money in that stock straight. And his response was, what people don't want to hear is that I was short 5 times before that and took small losses each time. We don't vol target. We're kind of traditional classic trend followers where we risk a small amount, but if the volatility gets higher and higher as the trade becomes very, very profitable, we don't have a tendency to get out of any of it.
We just sort of let it go. And so you've got to be a little different.
Richard Dennis is one of the world's most famous traders from the Chicago pits of the 1980s. He knew his proven trading strategy could be taught to others. He gathered a group of 11 traders in Chicago to teach them this system.
These people became known as the turtles. Jerry Parker is arguably one of the most successful of these turtles. Taking his newly learned trading strategy, he founded his own CTA, Chesapeake Capital.
I had the pleasure of sitting down with Jerry recently to discuss his background as a turtle and his trend following trading strategy. Please enjoy this episode of Skin in the Game. So here we are in Skin in the Game with Jerry Parker, CEO and founder of Chesapeake Capital, and one of Richard Dennis' original turtles. Want to play a game?
Yes, I do.
All right. Let's do it.
What color you want to be?
Gold, of course.
Gold. All right. You want to go first?
No, you go first.
All right. I got it. Let's see. I'm going to pretend that this is Virginia in last year's playoffs when they went out in the first round.

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