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Key Points

  • Donchian’s account dropped below zero following the 1929 stock market crash.

  • He was one of the Pentagon whiz kids in World War II. He served as a cryptanalyst and worked closely with Robert McNamara during his Air Force tenure.

  • Donchian did not start his Trend Following fund until age 65. He traded into his 90s. He personally trained legions in the art of Trend Following. He trained women at a time when women had little respect on Wall Street.

  • Richard Donchian: “Nobody has ever been able to demonstrate to me that a complex mathematical equation can answer the question, ’Is the market moving in an up trend, downtrend or sideways.’”


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