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Trend Following with Michael Covel

Bestselling author Michael Covel is the host of Trend Following Radio with 7+ 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 www.trendfollowing.com/podcast.
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Now displaying: 2017

Bestselling author Michael Covel is the host of Trend Following Radio with 7+ 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.

Jan 16, 2017

Michael starts the podcast quoting from a recent blog post of Seth Godin’s called “The Candy Diet.” Most people want a Guru or someone to spoon feed them something, anything. They want to be told what will happen in the future. They are on the “candy diet” that Seth Godin speaks to. People want to be baited with quick and easy. Michael reads from the obituary of the late Jay Forrester next. Forrester made the point in one of his classes that not a single one of his engineering students had ever taken the back of the toilet seat off to see how it worked. Looping back to Godin’s candy diet piece: There isn’t enough curiosity out there.

Michael quotes Jameis Winston, quarterback for the Buccaneers next. Jameis was asked if the Buccaneers were playoff contenders. Jameis’ response was that he was just trying to be 1-0 each week. He was living in the “moment of now.” He wasn’t worrying about week five while he was playing a game in week one. This thought process goes for everything in life, especially trading. You need a systematic approach that keeps you in the moment of right now. Otherwise you become bait.

Jared Kushner ran the Trump campaign. He tried to run the Trump campaign on the cheap. He would see what worked, and if it didn’t work then they would cut their losses quickly. If it worked, they would keep that strategy going and scale it up.

Michael finishes up the podcast talking about the new version of his Trend Following book. He points out some edits the publisher wanted him to make to move toward a more politically correct book. Michael brings in a term coined by Nassim Taleb, “intellectual yet idiot,” to explain his stance on making his book more politically correct.

In this episode of Trend Following Radio:

  • Political correctness
  • Curiosity
  • Living in the moment of now
Jan 13, 2017

Michael releases another mega episode with three trend following traders: Chris Cruden, Salem Abraham and Brian Proctor.

Chris Cruden has been in the trend following space for over 25 years. In 1988 he became a Director of Adam, Harding and Lueck Asset Management Ltd (AHL) in London, a famed trend following shop. He is currently the head of Insch Capital Management.

Salem Abraham is the President of Abraham Trading Company with a 27-year track record (with much trend following success). Over the years, Abraham has been kind enough to offer Covel fantastic insights. Abraham also appeared in Covel’s film, Broke, and is the last chapter of The Complete TurtleTrader.

Brian Proctor is an original TurtleTrader trained by Richard Dennis and Bill Eckhardt and today is a Managing Director at EMC Capital. He began his futures career in 1982, with experience at both the Chicago Mercantile Exchange and Chicago Board of Trade. Proctor was a participant in the renowned Turtle Program, and managed all trading operations at C&D Commodities through 2000.

In this episode of Trend Following Radio:

  • Price action
  • Trading only currency
  • Benchmark and time period selection
  • Don’t force the system
  • If you can’t measure it, you can’t manage it
  • Markets teach humility
  • Swiss Franc and Crude Oil
  • Asian economics
  • Location independence
  • The Turtle program
  • Diversification
  • Black Swans
Jan 9, 2017

Michael interviews Evan Carmichael, author of Your One Word: The Powerful Secret to Creating a Business and Life That Matter: "In this bold and empowering guide, entrepreneur and social media sensation Evan Carmichael shares the secret to turbo-charging your path to success on your own terms. With thought-provoking questions and inspiring, instructive examples, Your One Word will help you nail down your personal mottos – the word that captures your purpose and passion. With this operating philosophy in hand, you will then learn how to leverage this powerful tool to create the business and future of your dreams."

The real story? Two guys talking about the psychology behind successful entrepreneurship.

In this episode of Trend Following Radio:

  • Entrepreneurship
  • Your one word
Jan 6, 2017

One of Michael’s favorite things to do is intellectually kick people in the ass. People have stopped thinking. We have social media overload and virtual reality is taking over reality.

Michael brings a clip from Daniel Dennett on the podcast. Daniel specializes in providing people with different tools for thinking. Thinking is not genetic, it is learned. “Do tools evolve and make us smarter? Or do we evolve to become smart enough to make tools?” The answer is: Yes. It goes both ways. Daniel uses a chimpanzee example to explain the difference between our minds and the minds of any other animal.

In this episode of Trend Following Radio:

  • Flynn effect
  • Surely alarm
  • Genetic evolution
  • Shaping neurons in the brain
  • Intrinsic value
Jan 2, 2017

Michael and Wesley Gray cover wide territory today across the subject of momentum in the markets. Wesley Gray served as a Captain in the United States Marine Corps and taught as a finance professor at Drexel University. He earned an MBA and a PhD in finance from the University of Chicago and graduated magna cum laude with a BS from The Wharton School of the University of Pennsylvania. Wesley is founder of Alpha Architect, an asset management that delivers affordable active exposures for tax-sensitive investors. He has published four books including: “Quantitative Value,” “DIY Financial Advisor,” “Embedded” and his newest book “Quantitative Momentum.” He is a contributor to the Wall Street Journal, Forbes, and the CFA Institute.

In this episode of Trend Following Radio:

  • Efficient Market Hypothesis
  • Cross-sectional momentum
  • Time-series momentum
  • Trend following
  • Behavior
  • Career risk
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