STA Blog

Raoul Pal interview: On Felder’s Superinvestors

This is the shortened link to the interview with Raoul Pal on Jesse Felder’s series of Superinvestors and the Art of Worldly Wisdom.  It’s a podcast recorded about two months ago and rated highly by Charles Newsome, deputy chairman of the STA.  We’ve nudged members towards it recently in the STA’s LinkedIn site, but just in case the nudge didn’t work, the blog might do the trick.  In fact, you may perhaps not even have to listen to the hour-long discussion, satisfied by this quick summary.  I would urge you to tune in though, as he’s good.

Essentials:  Raoul Pal admits he was lucky getting into the world of finance in 1990.  A job seeker during the recession, with an unspectacular degree from a second tier UK university meant he was ineligible for most graduate training schemes at banks.  He hitched a ride at Dow Jones Telerate, at the technical analysis end of the spectrum with Teletrack, and learnt charts.

These remain at the very core of his methodology because ‘they show you everything, everywhere’.  He then went on to teach traders what he had learnt becoming a specialist in equity derivatives and a prop trader via stockbroker James Capel, Nat West Bank, and Goldman Sachs.

He credits this competitive advantage at the early part of his career as key, and explains that this opportunity is probably no longer open to many today.  In fact he believes the investment industry is currently in decline, caused by the demographics of ageing baby-boomers.  Because of these very same reasons today he favours investing in Iran, and India which is at the centre of important trade routes.

So many things he says ring a bell with me, including the one where I told my daughter to avoid banking – though her university friend was determined and is making a good stab of things at a wealth manager today – because it is an industry in decline.  The way he describes global macro thinking as ‘a three dimensional ever moving puzzle’ and ‘a beautiful intellectual pursuit’, about ‘looking for extremes reverting to mean’.  Also how he is a very visual person, a cynic who is comfortable being short, who questions the narrative and does the homework.

A man after my own heart!

You can follow him on Twitter @RaoulGMI.  Other people you might also like to follow are:  @ttmygh (Things that make you go hmmm) authored by Grant Williams, and the ever US-biased

Posted in Finance, Markets, STA news, Technical Analysis, Trading, Trending
Tags: , , ,

The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

Not ready to join? Stay Updated

If you want to learn more about membership and being part of the STA, sign up for our updates so we can keep in touch.


Monthly Meetings

The STA holds 11 monthly meetings in the City of London, including a summer and Christmas party where canapés and refreshments are served.


Latest Videos

As a service to our members, many of whom are unable to attend all our monthly meetings, we have been making videos of meeting presentations for several years.


STA Libraries

The STA has an extensive library of classic technical analysis texts. There are over 1000 books in the collection. It is held at the Barbican Library with a smaller...


Market Technician

Latest research and news

More Info

World Class Tutors

STA Course Lecturers

More Info


Be part of something special

More Info


View latest posts

More Info