For the next interview in the StockTickr Interview Series (RSS feed), I spoke with Howard Lindzon, an investor, hedge fund manager, entrepreneur, and all around interesting guy. He writes about investing, technology, and posts links to other interesting topics on his site. His honest and forthright style make it a pleasure to read and follow.
Read on to see more about how Howard trades, what entrepreneurial plans he has for the future, and why he thinks trading is a lot like golf. Howard has agreed to answer questions in the comments of this post, so ask away!
StockTickr: Tell us a little about yourself, Howard.
Howard: My name is howard lindzon. I am 40 years old and was born in Toronto. I now live with my wife and 2 kids in Phoenix. I run a small hedge fund with no specific style and I am part of a real estate lending business. Currently, I am setting up a fund to invest in blogentrepreneurship businesses. It should be ready to invest by October.
StockTickr: How did you get started trading stocks?
Howard: I got started trading stocks in high school. I think my first stock was clearly canadian beverage out of vancouver. Straight up, straight down.
I caught most of the down.
StockTickr: Most traders have a horror story about losing their shirt when they first started trading. What’s yours?
Howard: I have only one horror story that came late in my careeer. When I was a partner in a small brokerage firm in the late 90’s and early 2000’s, one of our partners turned out to have a gambling problem and he was stealing money from us, the hiuse, and clients, and creating false statements and daily reports to cover his tracks.
When the crime was finally discovered, it was the worst day of my life. The stolen money was gambled away and much heartache was caused.
StockTickr: Do you trade for a living now?
Howard: I do not trade for a living anymore but that suits me better as I am a better trader with a longer horizon.
StockTickr: Describe your style of trading. How long do you typically hold stocks?
Howard: I am now holding stocks more than a year, depending on certain long-term trend following models. I use a long term trend model that was developed by my friends at Blackstar.
StockTickr: What single lesson did you learn along the way that has helped you the most in your trading?
Howard: The lesson I learned most is to shut off the TV during the day. I am emotional so the noise cause erratic thinking. I never watch CNBC and just check people on my blogroll after the market for their wide take on things. I let people I trust decipher the news of the day so I can act on it.
StockTickr: What 3 books do you recommend traders read?
StockTickr: Do you backtest?
Howard: I don’t backtest although my system that I try and follow is backtested by Blackstar. I do keep a very detailed trading diary which is one of the reasons I love long-term trend following.
StockTickr: What is your typical R value per trade? i.e. what % of your portfolio do you risk with each trade?
Howard: I don’t have a scientific amount or R figure for individual position risk.
StockTickr: Other than your own, what are your 3 favorite sites?
My three favorite sites are:
I do like mixing in tech news for techmeme because the authors could care less about stock prices.
StockTickr: What technical indicators could you not live without?
Howard: No one technical indicator do I look at on a daily basis.
StockTickr: How do you think the market has changed over the last several years? How have you adapted?
Howard: I like the market today. It seems like I don’t have to be at my desk every moment like the 1990’s. That in itself feeds on itself and creates a more efficient market. I would love it if the market opened once a month.
StockTickr: What do you like best about trading?
Howard: The thing I like best about trading is the challenge. It never gets easier. There are periods when it seems easy and if you work hard there should be. But its like golf: As soon as you feel comfortable, the end is near and your game is about to go.
StockTickr: Thanks, Howard!
Howard: Sure, Dave.
Sign up for StockTickr Pro.
Stay tuned – there are several interviews on the way. You can subscribe to these interviews via RSS feed.
- Kernan of TRADEthemove.com
- Richard Todd
- Andy Swan
- Steve Nison of Candlestick Charts
- Dan Mirkin from Trade-Ideas
- Bruce Brotnov
- Eric Cahoon
- Ugly from Uglychart.com
- Alan Farley
- Declan Fallon
- Smita Sadana
- Bill Cara
- Van K. Tharp – Free autographed copies of Van’s book still available! Get yours now!
- Brett Steenbarger
- Eyal Maoz
- Gary B. Smith, the Chartman
- Nusair Bawla (alibawla on StockTickr)
- Dave Landry, Swing Trader
- Jeff White, the Stock Bandit
Do you have suggestions for other traders you’d like to see an interview with? Let us know!