The Mint Guaranteed Fund – a Series A fund – proved to become a steadily leading frontrunner among 76 other publicly traded commodity funds. Hite also proved that cunning investment strategy, coupled with investor commitment, could benefit more than one fund. The Mint Limited Fund managed to rise 20% in 1986, which also is a rather respectable showing.
Unknown to many, there is a great connection between successfully trading and successfully playing poker. The winning traders and the winning poker players both think in terms of odds. Larry Hite cofounded Mint Investment Management Company and carefully grew it into the biggest and most influential commodity trading advisor firm of 1991. Of course, what would a reputation be without the facts to back it up?
Every memory left on the online obituary will be automatically included in the book. To send flowersto the family or plant a treein memory of Lawrence S « Larry » Hite, please visit our floral store. The empowering story of Larry Hite’s unlikely rise to the top of the hedge fund world – with critical insights and lessons you can take to the bank…. When a market makes a historic high, it is telling you something.
Hite was blessed with learning disabilities, vision problems, and, by his own account, a short attention span. With a big smile and a touch of sarcasm, he proudly stated that those https://forexbitcoin.info/ problems were the secret to his success. Well, those issues really didn’t cause his success, but knowing that Hite overcame many negatives is where your inspiration can start.
In 1990, he began adding systematic trading of equity markets to the Mint managed futures portfolio. Hite is a hedge fund manager, who, along with Editor Seykota, is one of the forefathers of system trading. I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
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Lawrence D. Hite is a hedge fund manager who, along with Ed Seykota, is one of the forefathers of system trading. Lawrence D. Hite is a trailblazing investor who actively shaped the upcoming landscape of system trading as early how old do you have to be to start investing as the 1980s. During his tenure with Mint Investment Management Company, he helped propel the commodity trading advisor to become the very first business in its discipline to report in excess of $1 billion in assets.
Larry Hite has built a reputation for taking hedge fund management to the next level. He is considered legendary in that he consistently managed to get clients actively involved in the trading method, leading to increased investor commitment to the entire trading process. A 1986 Business Week article jokingly sets him apart from what is termed a stereotypical “wild-eyed” trader in commodities.
He has been profiled and recognized as one of the best in the industry in numerous major international publications. By 1990, Mint had become the largest Commodity Trading Advisor in the world in terms of assets under management. In 1990, Jack Schwager dedicated a chapter of his bestselling book, Market Wizards to Hite’s trading and risk management philosophy. So how can you become a trend following winner like Hite? Hite first read an article about commodity trading in Playboy.
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Peggy and family, I am so sorry to hear about Larry’s passing. I think the last time I saw you both was at the big slide at Lake Fest years ago. You were both watching your grandchildren and I was watching mine too. God will bless you if you take one day at a time and be thankful for all your precious memories. Graveside services were held Monday, Jan. 23 at Gravel Hill Baptist Church, with a reception for family and friends that followed in the church fellowship hall. Larry J. Hite, age 75, of Chase City, and formerly of Nelson died Friday, Jan. 20, 2023.
First, we probably trade more markets worldwide than any other money manager. Second, we don’t just use a single best system. To provide balance, we use lots of different systems ranging from short to long term.
By 1990, Mint had become the largest commodity trading advisor in the world in terms of assets under management. Even as far back as 1986 he strongly relied on computer modeling to gain an insight on futures trading in national as well as international markets. Over the course of time, he built a system that placed the investment behaviors of people as a constant, while making the commodities the variables. Hite is one of my favorite traders and favorite people. More importantly, how can his experience help translate to increasing your net worth?
- Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you.
- During his 13-year tenure at Mint, the composite of funds achieved a compounded annual rate of return greater than 30% before fees during that period.
- Second, we don’t just use a single best system.
- He is widely considered one of the top 100 investors of the 20th century.
- Larry and Meb start off the conversation with Larry’s origin as a trend follower, and the parallels to trend following and life.
He said that he failed at blocks in kindergarten. Out of the gate, that should put his views on formal education into context. Like many rags to riches success stories, Hite grew up in the prototypical middle-class, New York-area apartment. His father owned a small business, but there were no silver spoons for his kids. There are good bets, bad bets, bets that you win, and bets that you lose.
Market Wizards, Disc 5: Interviews with Ed Seykota: Everybody Gets What They Want & Larry Hite: Respecting Risk
His writing has appeared in many publications, including the Handbook of Futures Markets, The New York Times, and Forbes. Much in demand as a speaker, he has lectured on a range of analytical topics, with a particular focus on great traders, technical analysis, and trading system evaluation. This item is sold with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services or advice by publishing this item. The author and the publisher disclaim any liability, loss, or risk resulting directly or indirectly, from the use or application of any of the contents of this item.
He established Mint Investment Management Company and achieved an annual return of more than 30% or more before fees for 13 years. Hite retired from active management in 1994 and currently is a managing director at Hite Capital Management LLC. In episode 182 we welcome our guest, Larry Hite. Larry and Meb start off the conversation with Larry’s origin as a trend follower, and the parallels to trend following and life. Next, Larry gets into his start in investing, combing through hundreds of years of data and finding that cutting losses and letting winners run really works. He then transitions into some underlying foundations about how he thinks about trading, including, putting the odds in your favor by creating asymmetrical bets.
And read more in my book Trend Following. Listen Score is a metric that shows the estimated popularity of this podcast compared to other rss-based public podcasts in the world on a scale from 0 to 100. If it is the first time you login, a new account will be created automatically. Thank you for helping to keep the podcast database up to date.
No matter how many people tell you why the market shouldn’t be that high, or why nothing has changed, the mere fact that the price is at a new high tells you something has changed. Never risk more than 1% of total account equity on any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical. Get Mark Richards’s Software Architecture Patterns ebook to better understand how to design components—and how they should interact. Hite never diverged from this strategy, and as computers and programs became more commonplace, he upgraded his software to remain on the cutting edge of the business.
Some of these systems may not be that good by themselves, but we really don’t care; that is not what they are there for. Throughout my trading career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you. BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners.