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Perry J. Kaufman

Perry J. Kaufman

Perry J. Kaufman writes extensively on markets and strategies. He began his career as a “rocket scientist,” first working on the Orbiting Astronomical Observatory (OAO-1), the predecessor of the Hubble Observatory, and then on the navigation for Gemini, later used for Apollo missions, and subsequently in military reconnaissance.  In 1971, he became involved in the futures markets and has remained there. The earliest systematic programs used exponential smoothing and moving average trends, a technique developed in Aerospace for estimating the path of missiles.

In 1975, his company was bought by an agribusiness conglomerate in Illinois and he spent three years successfully developing and marketing commercial hedging services for large farmers. He then moved to New York, where he developed the most successful in-house commodity investment program for Prudential-Bache. At  the same time, he co-founded The Journal of Futures Markets. From 1980 through 1991, Perry headed the systematic trading for Transworld Oil, Limited (Bermuda), which traded the largest proprietary account in futures markets in the world.

From 1992 to 1999, Mr Kaufman was a principal and Head of Research for Drapeau Advisors, a U.S. CTA focused on short-term trading. The company was sold to ED&F Man in 1998, to become Man-Drapeau Research, Pte (Singapore), after accumulating a nearly 3.0 Information Ratio. From 2000, Mr Kaufman’s  consulting business served clients such as Cinergy’s proprietary trading group, Graham Capital Management, and Mizuho’s Alternative Investments.

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Letter from the Editor

November proved to be an interesting month for the markets. Just before the market burped up a post-Thanksgiving 2% pullback, the Russell 2000 finally broke out from its 2019 range. False hope? Recession time? Once again, the sloth (look it up) of bearish economists was out with the utterly useless prediction that a recession was coming by the end of 2021.  Thanks for the heads up, fellas. Have you seen a price chart? I keep a collection of equally dim-witted headlines. Last month’s favorite was “Don’t Time the Market, but If You Do, Here’s When the Bear Might Come Knocking.” Do as I say, not as I do. Gold is still correcting, Oil showed a little stealthy increase, the dollar looks a little shaky and apparently Europe is still so bad that the ECB is dipping back in the QE well…Because it worked so well the last time.  Again, have they ever seen a price chart? This month in Technically Speaking, we’ve got part three of Bruno DiGiorgi’s History of Wall Street, and George Schade, CMT, continues the history theme with a story about preserving the technical analysis of legend Edmund W. Tabell. This month’s member interview is with Stanley Dash, Program Director of the CMT program and a well-established technician in his own right. You may know him as a technical educator at TradeStation, where he spread the gospel. New York, Minnesota and Richmond chapters weigh in with reviews of their recent speakers. Hey other chapters who are not Northern Ohio and Chicago, can you help a TA brother out with reviews of your own? In addition to all this, you can find Association news, congrats to new CMTs and another job posting all inside. If you’ve got a book out, let us know so we can tell everyone. Also, if you are hiring technicians, we can post that here. And one more time, I ask members to submit articles they’ve written (not forecasts but methods) or write something new to share your knowledge with the group. If you are new, this is a great way to develop your chops as an analyst and a writer. Yes, I am begging for content! It’s your Association. Get involved. To all, a joyous and profitable end of the year. See you back here in 2020. Michael Kahn, CMT Editor [post_title] => Technically Speaking, December 2019 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2019 [to_ping] => [pinged] => [post_modified] => 2021-04-07 16:22:10 [post_modified_gmt] => 2021-04-07 20:22:10 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=43422 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 346755 [post_id] => 43422 [meta_key] => newsletter_content_8_contributor [meta_value] => a:1:{i:0;s:4:"1138";} ) [1] => stdClass Object ( [ID] => 44925 [post_author] => 35924 [post_date] => 2014-05-15 12:00:52 [post_date_gmt] => 2014-05-15 16:00:52 [post_content] =>

LETTER FROM THE EDITOR

We are once again providing short summaries of several moments from the MTA Symposium and we will have more next month. As usual, there was too much information from the two-day event to summarize quickly.  In this month’s summary, we present information about the MTA Annual Award Winner Larry Williams, an article with lessons learned over a lifetime in the industry from Steve Leuthold and the rules for a complete trading strategy from Perry Kaufman. There is also a review of a book written by Michael E. S. Gayed, the late father of this year’s Charles H. Dow Award co-author Michael Gayed. This book was originally published in 1990. It was recently republished by the author’s son as a tribute to his father’s life and work. While the book is certainly a tribute to an insightful mind, it is also a modern day primer on what’s important in the markets. The section on economic indicators is one of the most practical collections of indicators ever assembled, and each section concludes with a clear opinion about the indicator’s usefulness. We hope you enjoy this issue and ask you to please continue sending your submissions and comments to editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, May 2014 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-may-2014 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:20 [post_modified_gmt] => 2020-08-03 15:31:20 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44925 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 374170 [post_id] => 44925 [meta_key] => newsletter_content_2_contributor [meta_value] => a:2:{i:0;s:4:"1138";i:1;s:4:"7251";} ) [2] => stdClass Object ( [ID] => 45224 [post_author] => 2 [post_date] => 2014-01-15 12:00:57 [post_date_gmt] => 2014-01-15 17:00:57 [post_content] =>

LETTER FROM THE EDITOR

This month’s newsletter begins with an article that covers the past and the present. Ralph Acampora, CMT, was present at the beginning of the MTA and has been a part of every major development in the organization during the past 40 years. He looks forward to the next 40 years of the MTA and expects much to change over that time. However, he also expects some things to remain as they are. Ralph, like so many others, expects the MTA to continue to be a professional organization where ideas are freely shared. The MTA will continue advancing the profession of technical analysis on Wall Street. In addition to taking a long-term look into the future, we are also looking just a few months ahead in this issue. Although it is only January, the planning for this year’s Annual Symposium is well underway. In this month’s issue of Technically Speaking we are offering insights from two of the scheduled speakers, Perry Kaufman and John Murphy, CMT. We hope that you will be planning to attend the Symposium and to participate in your local MTA Chapter in the coming year. We also hope you will share your work through the newsletter. Submissions can be sent at any time to editor@mta.org. Michael Carr [post_title] => Technically Speaking, January 2014 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-january-2014 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:37 [post_modified_gmt] => 2020-08-03 15:31:37 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=45224 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 378353 [post_id] => 45224 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:4:"1138";} ) )

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