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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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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.

Jun 8, 2012

Michael Covel talks to Mike Aponte, professional blackjack player and a former member of the MIT Blackjack Team. Aponte was featured in the bestselling book "Bringing Down The House" as the player Jason Fisher, which was adapted into the movie "21". Covel makes this point about Aponte: Due to his systematic approach, he's definitely not a gambler; he's an investor. The similarities between successfully playing blackjack and trend trading are off the charts, including two of the key linchpins between them: Ed Thorp and the Kelly criteria. Aponte never really played blackjack before the MIT team, but when he learned to approach card counting as a science, he was hooked. Covel and Aponte go in depth about Aponte's beginnings; the similarities between systematic card counting and trend trading; the psychology behind the two; and how even some of the more advanced mathematicians at MIT didn't have the risk-taking constitution it took to make the cut. Aponte tells some revealing anecdotes along the way, including a run in with casino security that ended with them actually asking for his autograph. A must listen for any investor--blackjack player or not.

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