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
ISMS 31: Global CPI saw 2nd MoM uptick in August
Swen Lorenz – Carefully Consider Liquidity in Your Portfolio
Paul Merriman – What You Do When You Are Young, Is Golden
Vikram Mansharamani – Liquidity Will Not Always Be There
Gino Barbaro – Buy Right, Finance Right and Manage Right
Robin Wigglesworth – You Can’t Outsmart the Markets
Sheryl Garratt – Shove Your Ideas Out There and See What Happens
Kim Ades – Slow It Down
Nick Hutchison – Have a Proof of Concept Before You Dive Into the Big Idea
ISMS 30: Larry Swedroe – Do You Believe Your Fortune Is in the Stars or Rely on Misleading Information?
Laurie Barkman – Quit Often Quit Fast
Mark Venables – Do Your Best to Secure Your Crypto
Tania Reif – You Can Be Right and Lose Money
Mark Neuman – Constrained Capital and ESG Orphans
Ryan Dusick – Invest Yourself in Something That’s Meaningful
Thomas Chua – Have a Proper Sell Thesis When Investing
Kat Merchant – Do It Today
Laurent Lequeu – Sizing Is Crucial When Trading
David Kass – Don’t Invest in a Company Unless the CEO Owns a Large Stake
Christopher Panagiotu – Go With Your Gut, but Verify
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