Quite frankly, I’m not sure it’s worth my time trying to figure out what Curtis Faith did or did not do and when. I’m sure you have good reasons for your views on Curtis Faith.

I cannot speak for the others.

Curtis Faith started a money management firm called Acceleration Capital with Yuri Plyam. Faith talked about the firm’s beginning:

“…I approached Yuri Plyam at Castle Trading several weeks ago about the possibility of our partnering to form a series of commodities pools targeted at the investor with between $25K and $1 million.”

Faith was a managing member of Acceleration Capital (website listed Curtis Faith’s name through Feb 07). Firm disclosures stated:

“Acceleration Capital, LLC has also been registered with the National Futures Association since 09/08/03. Curtis Faith and Yuri Plyam are both listed principals and registered Associated Persons of Acceleration Capital, LLC since 09/08/03 and associate members of the NFA. The Managing Members of the partnership are Curtis Michael Faith (Mr. Faith), and Yuri Plyam (Mr. Plyam). They will supervise all the Partnership’s investment and administrative functions. Currently, the managing members have not invested in the pool, but reserve the right to do so in the future. Curtis M. Faith is a managing member of Acceleration Capital, LLC, an investment management company and the General Partner of the Partnership.”

Hedge Fund Alert ran with the headline “Commodities Whiz Back in Business” on May 19, 2004. An excerpt:

“Curtis Faith, a trader who cut his teeth under commodities luminary Richard Dennis, has started his own managed-futures fund. Faith launched his Acceleration Mercury 4X last month with a small amount of cash. He has just now started to market the vehicle and believes he can raise $100 million by year end – although he hasn’t set a formal fund raising goal.”

This excerpt appeared in HedgeWorld Daily News on May 20, 2004:

“Mr. Faith manages the fund with Yuri Plyam, managing member of Acceleration Capital and president of Castle Trading Inc., Northridge, Calif. Mr. [Curtis] Faith also is…a managing member of Turtle Trading Software, according to the firm’s web site. Mr. [Curtis] Faith previously worked with noted futures trader Richard Dennis and had taken a 15-year break from the business, he said.”

Acceleration Capital’s performance history showed significant losses from April 2004 until July 2005. Routine NFA examinations of Acceleration Capital started on August 22, 2005. Curtis Faith’s NFA associate member status, associated person status and principal status were withdrawn August 23, 2005.

Acceleration Capital permanently surrendered registration with the CFTC via settlement in January 2007 for what the CFTC believed were violations of the Commodity Exchange Act.

Silent? Everyone can draw their own conclusions about that characterization. More to come…

I’m puzzled as to why you posted CFTC depositions regarding the investigation of a trading firm that Curtis Faith was involved in. I didn’t read the second depo (I can go back, I suppose), but from reading what investigators were getting at in the first PDF file, it appears there was a rogue accountant that was stealing from the company cash register to get his teeth fixed, etc. Yes, the deposition mentions Curtis Faith as a partner (sort of silent, no?), but it didn’t appear to me that there was criminal wrongdoing on his part.

Are you suggesting that C Faith is unscrupulous, criminal, unethical, an outright fraud?

If he was a Turtle and you interviewed Turtles other than him and you both wrote a book about it, it’s all cool, right? What am I missing?

1. There is NO other book that tells the Turtle story from start until today beyond my book “The Complete TurtleTrader.” My book actually focuses on the true winners and success stories along with all of the rules and philosophies. My effort got behind the scenes, found the true facts, and tied it all together with performance numbers never before published. It names all the names and puts many stories out in public that were never known before. Look, no one is stupid in here (at least I hope). We all know what is on the pages of “The Complete TurtleTrader.”

2. Curtis Faith’s firm was Acceleration Capital and was built on his reputation. He owned 50% of it. Faith was clearly not just “involved.” The firm in question was barred by the CFTC and if not for my efforts those depositions would have never been made public. Does anyone really think there was anything admirable going on in this firm? Those depositions, my other interviews with other Turtles, contact with Faith business associates, and emails from a Faith family member …paint a picture entirely opposite to Faith describing himself as the most “successful turtle” who supposedly made “$31.5″ for Dennis 25 years ago. Come on kids! Jerry Parker is a billionaire and Faith has made comments about his own solvency in the last few years. His most successful Turtle line is simply not accurate. Bottom line, I understand the need for some to shoot the messenger of Michael Covel. I am the one who has spoken out and put the facts on the table. However, the shots coming from people who either don’t know the facts or who are purposefully twisting the facts, are missing the mark.

3. The research effort that went into my TurtleTrader book was lengthy. It was not easy. For 20 plus years this story was buried in whispers and myths – not anymore. And as far as I can tell there is only one Turtle (and a few followers) unhappy with my effort who will do or say anything to preserve the shattered mystique.

4. Lastly, I should note that the review here in question was about my ‘Trend Following’ book. That book was an entirely different effort and covers some of the best trend following traders to have ever laced it up. For those readers not looking to rehabilitate failed Turtles you may want to check out the interviews and relationships I have established across the trend following industry. I help a good number of clients every day. Some will also find my new documentary film of real value — as a cross section of great trend followers are seen on film for the first time.

Maybe if you some of you guys are going to take a swing at me you should at least punch harder!

MC

P.S. Jez thanks for the review!

I agree that Covel’s book does provide a lot of food for thoughts. I have been trying to ignore what he said but paying more attention of quotes from those successful traders.