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Bestselling author Michael Covel is the host of Trend Following Radio with 15+ million listens. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trading -- all passionately explored and debated. Guests include Nobel Prize winners: Robert Aumann, Angus Deaton, Daniel Kahneman, Oliver Hart, Harry Markowitz & Vernon Smith. More guests: Jack Canfield, Howard Marks, 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. 1200+ episodes.

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  2. Ep. 134: Brendan Moynihan Interview with Michael Covel on Trend Following Radio

Ep. 134: Brendan Moynihan Interview with Michael Covel on Trend Following Radio

Jul 1, 2013

My guest today is Brendan Moynihan, an editor-at-large for Bloomberg News, where he manages the popular column Chart of the Day and writes about the economy and Wall Street. He has been with the company since 2007 after spending more than twenty years on Wall Street as a trader and risk manager.

The topic is his book What I Learned Losing a Million Dollars.

In this episode of Trend Following Radio we discuss:

  • How Moynihan's background, the background of his subject, Jim Paul, and how the two came together in "What I Learned Losing a Million Dollars"
  • The psychology of loss and what we can learn from losing
  • The idea that you "just have to make the money" and why that can be a bad place to start as a motivator
  • Personalizing loss
  • Paul's interactions with Rich Dennis
  • Studying the contradictions of great traders, and how loss is the only topic they agree on
  • Controlling how much you can lose
  • Staying the course and the importance of not changing your strategy mid-stream
  • Profit motive vs. prophet motive
  • The difference between investors, traders, speculators, bettors, and gamblers
  • The slippery slope of always wanting to be "right"
  • The five stages of internal loss
  • The danger of personalizing your success
  • The difference between discrete events vs. continuous events
  • The "uncle" point
  • Why it's important to go broke at least once in your life
  • The difference between emotions and emotionalism

Jump in!

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

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Hope you enjoy my never-ending podcast conversation!