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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 www.trendfollowing.com/podcast.
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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 2, 2013

Michael Covel touches on on Motorhead, Hugh Hendry, David Harding, Vermeer, The Pope, acroyoga and Saigon psych rock in today’s monologue. How is it all related? Covel explores. First, Covel opens with a quote from Martin Bergin of Dunn Capital: “Everything we do is 100% systematic. There’s no over-ride, no individual decision-making whatsoever. That is the focus of the firm.” Covel moves into a clip from David Harding on Bloomberg. Harding doesn’t completely obliterate Eurgene Fama’s work, but he says, although his work is academic beauty, it doesn’t beat the performance of trend following. Covel then moves into Hugh Hendry. Although not a trend follower per se, he has often said things that are extremely trend following. The quote the Covel explores today, however, gives a clearer picture of Hendry's strategy (its not TF). Next, Covel discusses a documentary produced by Penn and Teller on the Dutch master, Vermeer, who may have used a tool to complete some of his paintings. The analogy to trading is there. There’s a system; there’s a process; there’s a model. Whether in painting, or whether in trading. Next, Covel talks about the Pope’s recent statement on economic inequality. Covel talks about how anyone who wants the politicians to legislate inequality is extremely naive. They have a vested self-interest. Covel moves on to talk about acroyoga, which he’s been practicing for the last several months. It’s reinforcing the idea of deliberate practice in Covel. That’s how Bergin makes that statement, and how Harding is so confident about trend following: They’ve been down the path of deliberate practice.

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