Jerry Parker, Founder of Chesapeake Capital is perhaps the most successful of the famous group of Turtles, and today we discuss what he has learned from his 40+ years love affair with Trend Following, and how he has evolved his CTA program. We debate the challenges of using the Sharpe Ratio and what improvement really look like, how he uses volatility in his trend following process and the conflicts that can arise when working with clients. We also find out why Jerry believes you can be a good manager without using stops even if this is not how he does it, why he believes in trend following plus nothing, why he felt he had no choice than to launch an ETF with that name and much more.

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Learn more about Chesapeake Capital.

Episode Timestamps:

02:58 - Introduction to Chesapeake Capital

07:02 - Jerry's key trend following learnings

12:54 - Jerry's investment philosophy

17:02 - Being evolutionary without too much tinkering

22:09 - Advice on running a trend following program

26:48 - Their process for selecting parameters

32:15 - What does an improvement look like...if not a higher Sharpe?

39:25 - The role of volatility in the trend following process

44:41 - The challenges of working with clients

48:51 - What if everyone was a trend follower?

54:21 - Can you be a good manager without using stops?

57:05 - Why are the other firms "wrong"?

01:04:33 - Trend following disagreements

01:06:42 - Excitements for the future

01:08:23 - Thanks for listening

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