Richard Davoud Donchian ( born Richard Davoud Donchian ; September 1905 , Hartford , Connecticut - April 1993 ) is an American businessman of Armenian descent who has made an outstanding contribution to the field of commodity money management. Creator of the first open commodity fund, based on the principle of diversification . Subsequently, he was baptized by the father of “trading by following the trend ” [1] , on which many modern exchange trading systems are based.
| Richard Dawood Donchyan | |
|---|---|
| English Richard Davoud Donchian | |
| Date of Birth | September 1905 |
| Place of Birth | Hartford , Connecticut ,  USA |
| Date of death | April 1993 (87 years) |
| A place of death | USA |
| A country | |
| Occupation | Trader |
| Father | Samuel B. Donchyan |
| Mother | Armenui A. Dawood |
Content
- 1 Biography
- 2 See also
- 3 notes
- 4 Source
- 5 Links
Biography
Richard's parents, Samuel B. Donchyan and Armenui A. Dawood, moved from the Ottoman Empire to the United States as early as the 1880s . As a young man, Richard attended a school in Hartford, and later attended Taft School ( Watertown, Connecticut ). In 1928, Donchyan graduated from Yale University , receiving a bachelor 's degree in economics [2] , and began working in a family-owned company selling oriental carpets . At the same time, Richard stumbled upon a biography of stock exchange trader Jesse Livermore called "Memoirs of a stock market speculator . " Under the influence of this book, he became interested in financial markets . The losses suffered by Donchyan during the stock market crash of 1929 encouraged him to study technical analysis and price history.
Donchyan began his career on Wall Street in 1930 . He began to sell brokerage companies quickly became a popular service Security Pilot . In the summer of 1933, Richard became a securities analyst at Hemphill, Noyes and Co [2] , while continuing to serve as vice president of the Samuel Rug Company family business.
During World War II, Donchyan joined the US Army and participated in the Sicilian operation . Subsequently appointed Inspector of Statistical Control of the US Air Force . At the end of the war, Richard becomes a private investment and securities adviser , working on this until 1960 . In 1948, he became interested in commodity markets and futures . He founded the trading company Futures, Inc. [2] - the first open commodity fund based on the principle of diversification.
During these years, Donchyan developed the rules of trade operations based on the trend-following trading method. It is based on the assumption that commodity prices in the long run will move like bear and bull markets. Richard developed and used a trading system that combined Trading Rules, Trading Guides and his weekly moving rules system. Donchyan is the author of numerous articles on futures and securities, thanks to which he became known as the father of "trading by following the trend." Some modern trend following systems, such as the Turtle Trading System , are based on his work. In addition, Donchyan was an innovator in promoting the concept of a diversified approach to operations on commodity exchanges [3] .
In 1960, Donchyan was appointed Director of Product Market Research at Hayden Stone & Co LLC [2] [. In this company and its successors ( Shearson / American Express , Shearson Lehman Brothers , now Smith Barney ), he worked all his life, becoming over time the senior vice president of the company. In the same 1960, Richard began publishing the weekly newsletter Commodity Trend Timing. The newsletter under his leadership was published for 19 years, and the weekly circulation reached 10,000 copies. Richard has written many articles that are considered classics of the industry, including Trend Following Methods in Commodity Price Analysis ( Commodity Yearbook , 1957 ).
In 1963, Donchian Institute of Chartered Financial Analysts at the University of Virginia awarded the degree of Chartered Financial Analyst [2] . During his career, Donchyan was a member of the Commodity Exchange [2] , the New York Cotton Exchange and the New York Futures Exchange , as well as several professional market associations - the New York Society of Security Analysts [2] , The American Statistical Association, the National Association of Future Trading Advisers , the Financial Forum, and has also been included in the Who's Who in America catalog ( English Who's Who in America ). In June 1983, Managed Accounts Report selected him as one of the first recipients of her Most Valuable Performer Award for her outstanding contribution to commodity money management.
After the death of Donchyan , the Richard Davoud Donchian Foundation was founded in April 1993 , the purpose of which is to help improve the health of children.
See also
- Donchian channel
Notes
- ↑ Richard Donchian: The Father of Trend Following Trading
- ↑ 1 2 3 4 5 6 7 Person profile: Richard Donchian Archived March 12, 2007 on Wayback Machine
- ↑ Stig Ostgaard: Trend following realized Archived July 6, 2009 to Wayback Machine