30: Thanksgiving Thoughts

Mike and Jerry the psychological decay of the New York Yankees and how they believe they don't have a problem, the moral imperative of money managers to ask their clients about how to design the strategy, how crisis alpha needs to go away, how trend-followers are opportunists at their core.-----------------------------Get in touch with Mike@mmelissinos⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Substack⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Melissinos Trading LLC⁠⁠⁠⁠⁠⁠⁠⁠Get in touch with Jerry⁠⁠⁠⁠⁠⁠⁠⁠@rjparkerjr09⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Chesapeake Capital⁠⁠⁠⁠⁠⁠⁠⁠Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Links and Resources: Do you have a question for Michael and Jerry? Please DM us at ⁠⁠⁠⁠⁠⁠⁠@mmelissinos⁠⁠⁠⁠⁠⁠⁠ or ⁠⁠⁠⁠⁠⁠⁠@rjparkerjr09⁠⁠⁠⁠⁠⁠⁠.Mike's Links⁠⁠⁠⁠⁠⁠⁠Substack⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Melissinos Trading LLC⁠⁠⁠⁠⁠⁠⁠Jerry's Links⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Chesapeake Capital⁠⁠⁠⁠⁠⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠⁠⁠⁠⁠⁠.Thank you for listening.

Topics-- How to talk about trend-following-- The Tortoise and the Hare-- Capitalism is under attack [article -- https://www.commentary.org/articles/clifford-asness/pro-hamas-protests-capitalism/]Links and Resources: Do you have a question for Michael and Jerry? Please DM us at ⁠⁠⁠⁠⁠⁠@mmelissinos⁠⁠⁠⁠⁠⁠ or ⁠⁠⁠⁠⁠⁠@rjparkerjr09⁠⁠⁠⁠⁠⁠.Mike's Links⁠⁠⁠⁠⁠⁠Substack⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Melissinos Trading LLC⁠⁠⁠⁠⁠⁠Jerry's Links⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Chesapeake Capital⁠⁠⁠⁠⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠⁠⁠⁠⁠.Thank you for listening.

Topics-- Obsession with smooth returns is a symptom of a larger societal trend-- Trend-followers get off to a hot start in 2026 thanks to gold and silver-- What a difference a year makes (2025 tariff mayhem, 2026 strong trends)Links and Resources: Do you have a question for Michael and Jerry? Please DM us at ⁠⁠⁠⁠⁠@mmelissinos⁠⁠⁠⁠⁠ or ⁠⁠⁠⁠⁠@rjparkerjr09⁠⁠⁠⁠⁠.Mike's Links⁠⁠⁠⁠⁠Substack⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Melissinos Trading LLC⁠⁠⁠⁠⁠Jerry's Links⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Chesapeake Capital⁠⁠⁠⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠⁠⁠⁠.Thank you for listening.

Topics-- Powell under investigation-- Never-ending list of excuses to break your discipline-- Resurgence of trends since the tariff mess of early 2025Links and Resources:Do you have a question for Michael and Jerry? Please DM us at ⁠⁠⁠⁠@mmelissinos⁠⁠⁠⁠ or ⁠⁠⁠⁠@rjparkerjr09⁠⁠⁠⁠.Mike's Links⁠⁠⁠⁠Substack⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠Melissinos Trading LLC⁠⁠⁠⁠Jerry's Links⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠Chesapeake Capital⁠⁠⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠⁠⁠.Thank you for listening.

Topics-- Personal lessons from the trend-following legends-- Difference between diversification and outlier hunting-- Jerry has a substack?-- How we cope during drawdownsLinks and Resources:Do you have a question for Michael and Jerry? Please DM us at ⁠⁠⁠@mmelissinos⁠⁠⁠ or ⁠⁠⁠@rjparkerjr09⁠⁠⁠.Mike's Links⁠⁠⁠Substack⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠Melissinos Trading LLC⁠⁠⁠Jerry's Links⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠Chesapeake Capital⁠⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠⁠.Thank you for listening.

Topics:-- Nick Saban on good and great, talent and execution-- Update on the trend-following drawdown-- Feelings that come up during trading, marketing-- Design a system for healthy discomfort-- Mike and Jerry dominate fantasy hockeyLinks and Resources:Do you have a question for Michael and Jerry? Please DM us at ⁠⁠⁠@mmelissinos⁠⁠⁠ or ⁠⁠⁠@rjparkerjr09⁠⁠⁠.Mike's Links⁠⁠⁠Substack⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠Melissinos Trading LLC⁠⁠⁠Jerry's Links⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠Chesapeake Capital⁠⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠⁠.Thank you for listening.

Mike and Jerry open up about how they're coping with the recent drawdown in trend-following.Recent essays relevant to this conversation- Wait? Yes. Hesitate? No.- Trend-Following in 2008: From +70% to Negative 1% to +92%- Weeds Always Come BackLinks and Resources:Do you have a question for Michael and Jerry? Please DM us at ⁠⁠@mmelissinos⁠⁠ or ⁠⁠@rjparkerjr09⁠⁠.Mike's Links⁠⁠Substack⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠Melissinos Trading LLC⁠⁠Jerry's Links⁠⁠LinkedIn⁠⁠⁠⁠Chesapeake Capital⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠ and ⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠.Past performance does not indicate future results.

Even during strong performance periods for trend-following, the financial and emotional swings can be significant. 2008 is a great example of this. Interestingly, 2006 and 2007 do as well.Supporting Essay: Trend-Following in 2008: From +70% to Negative 1% to +92%Links and Resources:Do you have a question for Michael and Jerry? Please DM us at ⁠⁠@mmelissinos⁠⁠ or ⁠⁠@rjparkerjr09⁠⁠.Mike's Links⁠⁠Substack⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠Melissinos Trading LLC⁠⁠Jerry's Links⁠⁠LinkedIn⁠⁠⁠⁠Chesapeake Capital⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠ and ⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠.Past performance does not indicate future results.

The U.S. Dollar is a hot topic of conversation lately. Tariffs, Trump, Bessent, reserve currency status, a new trade accord, etc. When the news heats up, trend-traders find calm in their rules.In this episode, we check in on the trends of the major currency markets vs. the Dollar.Links and Resources:Do you have a question for Michael and Jerry? Please DM us at ⁠⁠@mmelissinos⁠⁠ or ⁠⁠@rjparkerjr09⁠⁠.Mike's Links⁠⁠Substack⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠Melissinos Trading LLC⁠⁠Jerry's Links⁠⁠LinkedIn⁠⁠⁠⁠Chesapeake Capital⁠⁠Michael Melissinos is the founder of Melissinos Trading and Jerry Parker is the founder and CEO of Chesapeake Capital Corp.Due to industry regulations, they will not specifically discuss their funds (by name or symbol) on this podcast. All opinions expressed by podcast participants are solely their own and do not reflect the opinions of Melissinos Trading or Chesapeake Capital Corp. (or any of its employees). This podcast is meant for informational purposes only and should not be used as a basis for investment decisions. Clients of Melissinos Trading and Chesapeake Capital Corp. may maintain positions and securities discussed in this podcast. For more information, please visit ⁠⁠⁠⁠melissinostrading.com⁠⁠⁠⁠ and ⁠⁠⁠⁠chesapeakecapital.com⁠⁠⁠⁠.Past performance does not indicate future results.