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The Complete Turtletrader


Covel, Michael W. / HARDCOVER / 251 pages / 2007


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This is the true story behind Wall Street legend Richard Dennis, his disciples, the Turtles, and the trading techniques that made them millionaires. Dennis made a fortune on Wall Street by investing according to a few simple rules. Convinced that great trading was a skill that could be taught to anyone, he made a bet with his partner and ran a classified ad looking for novices. His recruits had anything but traditional Wall Street backgrounds. For two weeks, Dennis taught them his investment rules and philosophy, and set them loose to start trading, each with a million dollars of Dennis's money. By the time the experiment ended, Dennis had made $100 million and created a Wall Street legend. Here, author Covel tells their story, describes how Dennis interviewed and selected his students, details their education and experiences while working for him, and breaks down the Turtle system and rules in full.--From publisher description.Describes how Richard Dennis, a Wall Street trader, recruited a group of novices (later known as The Turtles) who achieved considerable financial success after learning key investment techniques which are shared in this account.
 

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  A reviewer from USA
A cool story and an easy read!
For those not familiar with the story, this book is not about actual turtles. The turtles are a group of people who participated in an experiment where each was given one million dollars to trade. Wall street legend Richard Dennis and William Eckardt wanted to prove whether great traders could be taught, or are great traders born with a special talent that can not be taught. And the experiment began after the turtles were taught a trend following trading method. This is a true story which took place in the early 1980's. What a fascinating story, and the author provides many, many facts about those turtles struggles and triumphs throughtout the length of the experiment. He also provides details of how successful those turtles were after the experiment and till this day. The rules of the trend following system they used are also given in this book with all the details. This is an excellent book! The nature versus nurture results of the experiment alone are worth the read.


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