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Trend Following with Michael Covel

Bestselling author Michael Covel is the host of Trend Following Radio with 5 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 500+ eps at www.trendfollowingradio.com/rss.
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Bestselling author Michael Covel is the host of Trend Following Radio with 5 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 500+ eps at www.trendfollowingradio.com/rss.

Jun 30, 2017

Chris Fussell starts the podcast explaining the process of becoming a Seal. The teams of the Special Forces do not select as much as they down select. Out of the 150 people who start a Seals class, maybe 25 will make it. The military uses rigorous training to sort out “who has it” and who doesn’t it. People have to have special inherent skills and then they are nurtured to refine those skills. A good team is made up of individuals that complement each others shortcomings and are able to magnify each others strength.

Chris stresses that these men have all the same burdens that civilians have, they just have it coupled with combat stressors as well. They deploy for an amount of time and then come how to a wife, kids, and a stack of bills. Everyone, especially soldiers, need to have a cocktail of coping tools so there is a balance between work and personal life. You can’t be amazing at work and have your family falling apart. Things will start to unravel at work rapidly.

Chris was a young officer in 2004 when the conflict in Iraq started. This was his first full scale conflict. He had the misconception that there was a set plan going in, and that all they had to do was execute that plan. Chris quickly learned he wasn’t entering a stable environment. Everyone needed to be proactive and adaptive to the war zone.

Now that Chris is helping manage a company, he uses that experience to always adapt and readjust. He realizes he needs small teams with a rapid fire adaption mentality. People need to see a problem and intuitively react to it. While in the Navy Seals they re-strategized every 24 hours. There were 6,000-7,000 people around the world sharing a consciousness every 24 hours. The most seasoned teams were able to run with speed and autonomy without checking in because of this once a day communication. They were able to make decisions on their own and be highly effective.

Chris and Michael end the podcast discussing what makes a working relationship. Relationships are grounded in knowing other perspectives. We have to be willing to see things differently and know that both individuals, when there is a disagreement, could be right. When you are on a team and leading with the perspective that everyone is part of your family, it turns teams into a more giving and trusting environment.

In this episode of Trend Following Radio:

  • Nature vs. Nurture
  • Inner drive
  • Self-awareness
  • Charisma
  • Learning from failure
  • Synchronicity between data and leadership
  • Zealots and martyrs
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