The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires

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9780061241710: The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires

What happens when ordinary people are taught a system to make extraordinary money?

Richard 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 in the Wall Street Journal looking for novices to train. His recruits, later known as the Turtles, had anything but traditional Wall Street backgrounds; they included a professional blackjack player, a pianist, and a fantasy game designer. By the time the experiment ended, Dennis had made a hundred million dollars from his Turtles and created one killer Wall Street legend.

In The Complete TurtleTrader, Michael W. Covel tells their riveting story with the first ever on-the-record interviews with individual Turtles. He shows how Dennis's rules worked—and can still work today—for any investor with the desire and commitment to learn from one of the greatest investing stories of all time.

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From the Author:

This is the story of how a group of rag tag students, many with no Wall Street experience, were trained to be millionaire traders. Think of Donald Trump's show "The Apprentice," played out in the real world with real money and real hiring and firing. However, these apprentices were thrown into the fire and challenged to make money almost immediately with millions at stake. They weren't trying to sell ice cream on the streets of New York City. They were trading stocks, bonds, currencies, oil and dozens of other markets to make millions.

This story blows the roof off the conventional Wall Street success image so carefully crafted in popular culture: prestige, connections and no place at the table for the little guy to beat the market and beating the market is no small task. Legendary investor Benjamin Graham always said that analysts and fund managers as a whole could not beat the market because in a significant sense they were the market. On top of that, the academic community has argued for decades about efficient markets, once again implying there is no way to beat the market averages.

Yet making big money, beating the market, is doable if you don't follow the herd, if you think outside the box. Anyone does have a chance to win in the market game, but he or she needs the right rules and attitude to play by. And those right rules and attitude collide against basic human nature.

About the Author:

Michael W. Covel is the author of the bestselling book Trend Following, now in its seventh printing and translated into eight languages. Covel speaks regularly on the subject of trading and is managing editor of TurtleTrader.com, the leading news and commentary resource on insights into the Turtles. He lives in California.

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Covel, Michael W.
Published by HarperCollins Publishers Inc, United States (2011)
ISBN 10: 0061241717 ISBN 13: 9780061241710
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Book Description HarperCollins Publishers Inc, United States, 2011. Paperback. Book Condition: New. 201 x 135 mm. Language: English . Brand New Book. Richard Dennis, the Prince of the Pits , a man who d already made a fortune on the Street, was convinced that great trading wasn t a gift from God, but something that could be taught to anyone. So one day he made a bet with his partner, and ran a classified ad in the Wall Street Journal looking for trainees. And he didn t just hire finance professionals: his trainees - who became known as the Turtles - included an actor, a security guard, two professional blackjack players, a pianist, a fantasy game designer, and others. After two weeks of training, he set them loose, with a $1 million bankroll each to invest as they chose, and the right to keep a share of their trading gains for themselves, as long they adhered to the Turtle system.By the time the program ended, Dennis and his partner had made over $120 million - from trades made by complete novices. Many of these Turtles then went on to trade for themselves, and some are among the top investors operating today. As fascinating as Dannis and the Turtles story is, Covel doesn t stop there. He lays out, in detail, the exact system the Turtles used to reap their millions. And because the Turtle system is a form of so-called technical investing, meaning the Turtles weren t concerned about the fundamentals of the investments they made, it is an investing strategy where a Wall Street operator, plugged into the second-by-second madness of finance, has no advantage over an ordinary investor.And Covel takes us step-by-step through all the details needed to apply this at home. In Turtletrader , Michael W. Covel, author of Trend Following and managing editor of, tells the riveting story of the Turtles, their selection, their training, how they made (and lost) astounding fortunes, and certainly not least, the tools readers will need to start trading like Turtles themselves. Bookseller Inventory # AA89780061241710

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Book Description HarperCollins Publishers Inc, United States, 2011. Paperback. Book Condition: New. 201 x 135 mm. Language: English . Brand New Book. Richard Dennis, the Prince of the Pits , a man who d already made a fortune on the Street, was convinced that great trading wasn t a gift from God, but something that could be taught to anyone. So one day he made a bet with his partner, and ran a classified ad in the Wall Street Journal looking for trainees. And he didn t just hire finance professionals: his trainees - who became known as the Turtles - included an actor, a security guard, two professional blackjack players, a pianist, a fantasy game designer, and others. After two weeks of training, he set them loose, with a $1 million bankroll each to invest as they chose, and the right to keep a share of their trading gains for themselves, as long they adhered to the Turtle system.By the time the program ended, Dennis and his partner had made over $120 million - from trades made by complete novices. Many of these Turtles then went on to trade for themselves, and some are among the top investors operating today. As fascinating as Dannis and the Turtles story is, Covel doesn t stop there. He lays out, in detail, the exact system the Turtles used to reap their millions. And because the Turtle system is a form of so-called technical investing, meaning the Turtles weren t concerned about the fundamentals of the investments they made, it is an investing strategy where a Wall Street operator, plugged into the second-by-second madness of finance, has no advantage over an ordinary investor.And Covel takes us step-by-step through all the details needed to apply this at home. In Turtletrader , Michael W. Covel, author of Trend Following and managing editor of, tells the riveting story of the Turtles, their selection, their training, how they made (and lost) astounding fortunes, and certainly not least, the tools readers will need to start trading like Turtles themselves. Bookseller Inventory # AA89780061241710

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Book Description HarperCollins Publishers Inc, 2009. Book Condition: New. 2009. Paperback. Richard Dennis ran a classified ad in the "Wall Street Journal" looking for trainees. His trainees became known as the "Turtles". This book tells the story of the Turtles, their selection, their training, how they made (and lost) astounding fortunes, and certainly not least, the tools readers will need to start trading like Turtles themselves. Num Pages: 288 pages, black & white illustrations, black & white tables, charts. BIC Classification: KFFM. Category: (G) General (US: Trade). Dimension: 203 x 135 x 18. Weight in Grams: 230. . . . . . . Bookseller Inventory # V9780061241710

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Book Description Paperback. Book Condition: New. Not Signed; Richard Dennis, 'the Prince of the Pits', a man who'd already made a fortune on the Street, was convinced that great trading wasn't a gift from God, but something that could be taught to anyone. So one day he made a bet with his partner, and ran a classified ad in the Wall Street Journal looking f. book. Bookseller Inventory # ria9780061241710_rkm

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