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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.

Nov 30, 2013

My guest today is Charles Faulkner, an author, trader, and international expert on modeling the knowledge and performance of exceptional individuals. He was originally featured in "The New Market Wizards" by Jack Schwager.

The topic is trading psychology.

In this episode of Trend Following Radio we discuss:

  • Behavior, emotions, decision-making, and intuition in the world of money--and what money does to us on a biological level
  • Neurolinguistic Programming
  • How money in the mind influences money in the world
  • The schizophrenic-seeming handout to the two recent Nobel Prize winners
  • “System one” and “system two”
  • How “one” is running all the time, how “two” takes effort--and where Faulkner hopes to take this research
  • How experience can teach “system one”
  • New lightbulb moments in current research
  • How the “afraid to lose” (or in Singapore, Kiasu) concept could be terribly dangerous when applied to money
  • Why the less you know about something, the clearer the image--and the more certain you are that it’s real and true
  • The need for certainty
  • Money as a living metaphor; sunk costs
  • The Myers-Briggs instrument
  • Rituals and money

Jump in!


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:

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