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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.

Jun 11, 2018

My guest today is Aaron Brown, a finance practitioner, expert on risk management and gambling, speaks frequently at professional and academic conferences and author of “Red-Blooded Risk,” “The Poker Face of Wall Street,” and co-author of “A World of Chance.” He was Chief Risk Manager at AQR Capital Management and one of the original developers of value at risk. At 8 or 9 years old Aaron would read the newspaper everyday just to see the sports and Wall Street numbers. Over time, he started to see patterns in those numbers and felt he might be able to make money off it. He came across a book at his library that mathematically proved he could “beat the house.” At age 14 Aaron knew he could walk into a poker game and walk out with his opponents money. He gambled into his early 20’s until he realized the real money to be made was on Wall Street.

The topic is risk management and gambling.

In this episode of Trend Following Radio we discuss:

  • Quants
  • Libertarian
  • Poker
  • Gambling
  • Efficient market hypothesis
  • Black swans

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!