My Worst Investment Ever Podcast
Business:Investing
BIO: Jerry Parker started his trading career in 1983 in the Richard Dennis Turtle Program. He started Chesapeake Capital in 1988. Chesapeake manages about $200M in private funds, mutual funds, ETFs, and managed accounts.
STORY: Jerry has had some stinker investments in real estate and gold over the years. Two things that have cost him money in his real estate investment are overpaying and not being patient. Often, Jerry would find himself buying homes by speculating and thinking that he knew what he was doing, only to realize that he didn’t.
LEARNING: Understand what you’re capable of and your limitations as well. Be afraid of situations you’re unfamiliar with and assume the worst.
“If you’re at a poker table and don’t know who the patsy is, it’s usually you.”Jerry Parker
Guest profile
Jerry Parker started his trading career in 1983 in the Richard Dennis Turtle Program. He started Chesapeake Capital in 1988. Chesapeake manages about $200M in private funds, mutual funds, ETFs, and managed accounts. All of the trading is done using a Trend Following + Nothing approach. The funds are maximally diversified and include bond, commodity and currency futures, stocks, crypto, and FX forwards. Jerry is active on Twitter and Twitter Spaces at @rjparkerjr09.
Worst investment everOver the years, Jerry has had some stinker investments in real estate and gold. Two things that have cost him money in his real estate investment are overpaying and not being patient. Often, Jerry would find himself buying homes by speculating and thinking that he knew what he was doing, only to realize that he didn’t.
Lessons learnedFind a great mentor in a field you’re passionate about, and learn from them. Also, be ready for a big break.
Jerry’s recommendationsJerry recommends finding people on Twitter and subjects you’re interested in and following them for great advice. He also recommends listening to podcasts and reading books to get information about things you can’t learn in college.
No.1 goal for the next 12 monthsJerry’s number one goal for the next 12 months is to stay disciplined, keep doing what he’s been doing, and continue improving his portfolio.
Parting words“Thank you for having me. I will go back and listen to some of your old podcasts.”Jerry Parker
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Connect with Jerry Parker
Luke Gromen – Start Small, Then Grow as You Learn
Jason Brown – You Never Go Broke Taking a Profit
ISMS 35: Larry Swedroe – Great Companies Are Not Always High-Return Investments
Chris Vermeulen – Find What You’re Passionate About
Kenny Rose – Don’t Invest in Anything You’re Not Fully Educated In
ISMS 34: Larry Swedroe – Consider All Hidden Costs Before You Invest
Chong Ser Jing – Pay Attention to What Drives Business Results
James M. Dahle – Don’t Buy More Insurance Than You Need
Harley Bassman – Sizing Is More Important Than Entry Level
Mike Philbrick – Just Because You’re Winning Doesn’t Mean You’re Smart
Sam Burns – Understand What You’re Really Betting On
Jay Pelosky – You Can Be Right but at the Wrong Time
Reuben Mattinson – Have Solid Proof That Trading Is Happening and It’s Regulated
ISMS 33: Fed Success! High LT Rates & Recession Coming
William Cohan – Get the Numbers Right Before You Invest
Neil Johnson – Take the Profit When You Can
Jeremy Deal – Use Differentiated Insight to Evaluate an Investment
William Bernstein – Never Invest Based on the Headlines
ISMS 32: 5 Signs of Impending Recession
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