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 17: Larry Swedroe – Do You Project Recent Trends Indefinitely Into the Future?
ISMS 16: Top 5 EM Country Interest Rates – Normal China Yield Curve
ISMS 15: Top 5 DM Country Interest Rates – Steep US Inversion
ISMS 14: Regional Interest Rates - Low in Asia, Egypt and Frontiers on Fire
ISMS 13: Global Interest Rates - Hikes Slow, Inversion Signals Recession
Peter Ricchiuti – Don’t Fall in Love With a Stock
Jason Hsu – The Market Can Be Crazy for Longer than You Have the Conviction
Shreekkanth Viswanathan – Qualitative Strengths of a Company Matter Too
Jeremy Kokemor – Tread Carefully When Investing in Metals and Mining
Paul Hodges – There’s No Substitute for Judgment
Amy Minkley – What Is Your Enough?
Benjamin Claremon – Know What Kind of Investor You Are
Edward McQuarrie – Never Ever Sell Naked Calls
ISMS 12: CPI Racing Across the Globe
ISMS 11: US Banking Crisis and Fed Rate Cut
ISMS 10: US CPI Could Decline to 4% By YE23; Unless QE Revs Up
Michelle Leder – Read the 10-K Before You Buy That Stock
ISMS 9: Saving Silicon Valley Bank Brings New Risks
Dave Collum – What Should the US Be Doing in Ukraine?
Bill Blain – Always Sell Fast in a Difficult Market
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