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Trend Following with Michael Covel

Bestselling author Michael Covel is the host of Trend Following Radio with 6+ million listens. Investments, economics, decision-making, human behavior & entrepreneurship--all passionately explored. Guests include Nobel Prize winners Robert Aumann, Angus Deaton, Daniel Kahneman, Harry Markowitz & Vernon Smith. Also: James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams. All 600+ eps at trendfollowingradio.com/rss.
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Now displaying: December, 2017

Bestselling author Michael Covel is the host of Trend Following Radio with 6+ million listens. Investments, economics, decision-making, human behavior & entrepreneurship--all passionately explored. Guests include Nobel Prize winners Robert Aumann, Angus Deaton, Daniel Kahneman, Harry Markowitz & Vernon Smith. Also: James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams. All 600+ eps at trendfollowingradio.com/rss.

Dec 11, 2017

Very experienced guys make great interviews. They bring age, perspective and wisdom to the table. Tom DeMark and Perry Kaufman are two men that have previously been on the podcast that exemplify this statement. Michael went back into the archives to bring these men and their interviews on the podcast today.

Perry Kaufman is an American systematic trader, index developer, and quantitative financial theorist. He is considered a leading expert in the development of fully algorithmic trading programs. He currently is president of Kaufman Analytics.

Tom DeMark is founder and CEO of DeMark Analytics and the creator of the DeMark Indicators. Tom considers himself a market timer and believes that fundamentals are critical; however, he and Michael still have a lot in common. His work is price and technically driven.

In this episode of Trend Following Radio:

  • Price movement
  • Fundamentals
  • Technical analysis behind the scenes
  • Elliott wave
  • The Fibonacci sequence
  • Forecasting
  • George Soros
  • Michael Steinhardt
  • Paul Tudor Jones
  • Steve Cohen
  • Computerizing indicators
  • 100% algorithmic trading
  • Systematic vs. Automated
  • Optimization vs. Validation
  • Tail events
  • Discipline
Dec 8, 2017

Matt Smith is CEO of Royalty Exchange, an online rights platform where users sell portions of their royalty income and investors bid on it. The primary goal of Royalty Exchange is to make royalty streams investable. They have held over 200 auctions in the last 18 months where artists and investors interact in the buying and selling of royalties. Recently Matt launched a sister company Royalty Flow–created to purchase larger royalty streams and get more investors involved.

What is the process of Royalty Flow? Investors can buy shares through a platform called Folio, those shares are then transferred to a major exchange like Nasdaq. Royalty Flow was created after being approached to buy Eminem’s royalties. Royalty Flow provides a way for a pool of investors to purchase. What are motivations for investors to buy royalties? Investors view this as a hedging strategy because it is uncorrelated to their other portfolios. In contrast, what are some motivations for selling off royalties?

There are hundreds of thousands of investors that contribute to artists getting their music out there – music producers, song writers, etc., not just performers. Those contributors have royalties. Artists and their contributors see the advantages to diversification and investors see a sense of security in having a steady flow of income outside of their Wall Street portfolios.

In this episode of Trend Following Radio:

  • Streaming music
  • Music royalties
  • ICO’s
  • SEC regulations
  • Sesame Street royalties
  • Eminem royalties
Dec 4, 2017

Larry Hite recently called Michael and left him a voicemail regarding podcast episode #606. Larry has seen his share of ups and downs and has had a great career so praise from Larry was a nice surprise. Michael follows Larry’s praise by sharing a recent Facebook conversation with a critic. The conversation ensued regarding a post quoting Sam Harris. The back and forth that began with this Facebook “friend” starts with her calling Michael dogmatic (among other things) and by the end of the banter she evolves to calling him a cult leader. What is the takeaway from this conversation? Develop a system for dealing with people and their opinions. What is a key thing to keep in mind while developing that system? Not everyone’s opinion matters.

In this episode of Trend Following Radio:

  • Trend Following 5th Edition
  • Dogmatic
  • Trend following performance
  • How to filter trolls
  • Sock puppets
  • Sorting the real from the fake
Dec 1, 2017

Michael Gervais is a high performance psychologist. He works with top performers to train and implement skills necessary to pursuing and revealing one’s maximum potential. His clients include world record holders, Olympians, internationally acclaimed artists and musicians, MVPs from every major sport and Fortune 100 CEOs. He is also co-founder of Compete to Create.

Part of Michael’s training is helping clients realize there are things we are in control of and things we are not in control of – therefore focus on what you can control. We can train our bodies, our craft and mind. Michael teaches clients through science based research that refining ALL three of these areas are essential to becoming successful.

So what does world class awareness look like and how do you achieve it? There are no words that can capture what awareness is, but when someone becomes fully aware, it is as if they are fully engrossed in the task at hand. They have an intimate understanding of how their thoughts, actions, and words are lining up with the environment. However, just being “aware” is not enough for mindfulness. Creating mindfulness could be as simple as focusing on one thing for a length of time. This might mean refocusing the mind thousands of times. As soon as you allow yourself to get into the moment, performance jumps astronomically. Athletes are a great way to judge this. They live in a world of compressed time. Most athletes only have a couple of years to compete at peak performance. Because of this, top athletes tend to understand being mindful and grasp the importance of being in the present moment faster than the average person.

Another aspect of Michael’s work is learning what motivates a client. There are two types of motivations: internal and external. Science has shown that people more aligned with internal motivations tend to outperform those motivated by external factors such as money, fame and power. However, regardless of your motivations or natural talents (or lack thereof), Michael stresses that greatness is accessible to everyone. Investing in mental skills that help deal with challenges that come your way is well worth the time to cultivate. Work on mastering the aspects of your life that you can control. Understanding how to do it is the easy part, implementing is the hard part.

In this episode of Trend Following Radio:

  • Living in the present moment
  • Mindfulness
  • High performance training
  • Grit
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