Psychology Quote by Michael W. Covel
““Paul Mulvaney made the point: “One thing to bear in mind is that we have made no changes to our trend following strategy since 2005. So in a way we take the ancient Spartan view that everything that needed to be said about long-term trend following has already been said.” He continued: “In recent years our research has focused on execution algorithms—but those are of minor importance versus the strategic trend following philosophy.” Here is Mulvaney’s philosophy in performance data format:””
About This Quote
Source Interview: The Trend Following Manifesto, Michael W. Covel, 2015
The quote emphasizes that the core strategic philosophy of long‑term trend following has remained unchanged since 2005, while recent work focuses on execution details that are less critical than the underlying strategy.
In simple terms: Core strategy unchanged; execution tweaks are minor.
Key Takeaway
Focus on preserving strategic principles.
Themes
investment
strategy
continuity
execution
research
Mood
analytical
thoughtful
critical
Type
advisory
philosophical
When to use this quote
- portfolio management
- algorithmic trading
- risk management
- performance analysis
Key Concepts
trend following
philosophy
execution algorithms
Questions to Reflect On
- How do you balance strategic consistency with technological advances?
- When should execution become a strategic focus?
A Different Perspective
Execution improvements alone cannot compensate for a flawed strategic foundation.
![“[S]ometimes, when you are a food person, the possible irrelevance of what you are doing doesn’t cross your mind until it’s too late. (Once, for example, when I was just starting out in the food business, I was hired by the caper people to develop a lot of recipes using capers, and it was weeks of…” quote by Nora Ephron](https://sms4smile.com/quotes/img-quotes/d79/nora-ephron-1217_business_s-ometimes-when-you-are-a-food-person-th_980.jpg)
