Episode 9 is a special, recorded on Scotland Island north of Sydney on a Saturday morning in November 2023 with an exceptional gathering of minds. Jerry Parker of Chesapeake Capital, Adam Havryliv of East Coast Capital Management, Moritz Seibert and Moritz Heiden of Takahe Capital joined hosts Simon Mansell and Richard Brennan for a roundtable on systematic trend following, market risks, and what the next generation of Turtle Traders looks like.
Jerry Parker is the patriarch of the group in every meaningful sense: the original Turtle, trading since 1983, and one of the most articulate advocates for what he calls classic trend following. His presence gives the conversation a historical anchor. The discussion ranges from the structural reasons why trend following continues to work, through the specific challenges of staying systematic when markets are difficult, to the question of whether the essential insights from the Turtle experiment remain intact in a world of machine learning, alternative data, and compressed execution costs.
Adam Havryliv brings the perspective of a next-generation allocator and systematic trader, and the Takahe partners bring the European institutional view. The conversation is informal but substantive, recorded in the spirit of the original Turtle programme: a small group of serious people sharing hard-won knowledge in the belief that the fundamental principles of systematic trend following are worth defending and passing on.
Related reading: Read: Predator and Prey: The Evolutionary Arms Race in Markets