Trend Following With Michael Covel

Trend Following Mindset brings to life the timeless conversations between Tom Basso and Michael Covel originally featured on Michael’s renowned Trend Following podcast. In these profound and enlightening exchanges, Tom shares with Michael his deep wisdom on trading, business, life, and the how and why of his mindset. Tom Basso, dubbed Mr. Serenity by Jack Schwager, is one of the most experienced and knowledgeable trend-following traders in the world today—a trading legend who lives life to the fullest. Tom’s most important trend following research papers are presented together for the first time, delivering a treasure trove of trading insights. Michael also pulls from Tom his perspective on: How to get started in trading; What trend following is, and how and why it works so well; Constructing your trading system; Position sizing and account management; The work-life balance of a trader; The transition from independent trader to professional money manager; and so much more. Trend Following Mindset will teach y

Billionaire investors. If we think of them, it’s with a mixture of awe and suspicion. Clearly, they possess a kind of genius—the proverbial Midas Touch. But are the skills they possess transferable? And do they have anything to teach us besides making money? In Richer, Wiser, Happier, William Green draws on interviews that he’s conducted over twenty-five years with many of the world’s greatest investors. As he discovered, their talents extend well beyond the financial realm. The most successful investors are mavericks and iconoclasts who question conventional wisdom and profit vastly from their ability to think more rationally, rigorously, and objectively. They are master game players who consciously maximize their odds of long-term success in markets and life, while also minimizing any risk of catastrophe. They draw powerful insights from many different fields, are remarkably intuitive about trends, practice fanatical discipline, and have developed a high tolerance for pain. As Green explains, the best inves

My new book Trend Following Mindset with Tom Basso is out now!

Legendary economist Henry Kaufman shares a classic Wall Street story that has never been fully told: a firsthand account of the day in August 1982 that would define US economics for decades. That single day turned out to be the beginning of the world that we now live in. At the time, after painful years of high interest rates and the inflation of the late 1960s and 1970s, consumers were paying 17 percent and higher to borrow money. But by the end of one summer day almost 40 years ago, the stock market had undergone its second-biggest rally since WWII, while bond prices soared and interest rates plunged. Dr. Kaufman himself had written a memo that sparked this tremendous boom-and it set the global markets on fire, marking the start of almost four decades of US economic growth. Bio: Dr. Henry Kaufman is an economist. As senior partner, chief economist, and director of research at Salomon Brothers, then the most profitable investment bank in the world, his fame extended well beyond the financial industry and int

Consider the barriers to trend following... and make money.

If you want your startup to succeed, you need to understand why startups fail. Why do startups fail? That question caught Harvard Business School professor Tom Eisenmann by surprise when he realized he couldn’t answer it. So he launched a multiyear research project to find out. In Why Startups Fail, Eisenmann reveals his findings: six distinct patterns that account for the vast majority of startup failures. Bad Bedfellows. Startup success is thought to rest largely on the founder’s talents and instincts. But the wrong team, investors, or partners can sink a venture just as quickly. False Starts. In following the oft-cited advice to “fail fast” and to “launch before you’re ready,” founders risk wasting time and capital on the wrong solutions. False Promises. Success with early adopters can be misleading and give founders unwarranted confidence to expand. Speed Traps. Despite the pressure to “get big fast,” hypergrowth can spell disaster for even the most promising ventures. Help Wanted. Rapidly scaling startup

The Alexander Elder Rewind is a must listen two episode show. Classic Elder!

We live in a time of cancel culture. A time devoid of reason. A time with so many unwilling to speak truth. My guest today James R. Otteson brings clarity back. You have heard of the Seven Deadly Sins: pride, greed, lust, envy, gluttony, wrath, and sloth. Each is a natural human weakness that impedes happiness. In addition to these vices, however, there are economic sins as well. And they, too, wreak havoc on our lives and in society. They can seem intuitively compelling, yet they lead to waste, loss, and forgone prosperity. James Otteson tells the story of seven central economic fallacies, explaining why they are fallacies, why believing in them leads to mistakes and loss, and how exorcizing them from our thinking can help us avoid costly errors and enable us to live in peace and prosperity. Bio:James R. Otteson is the John T. Ryan Jr. Professor of Business Ethics in the Mendoza College of Business at the University of Notre Dame. He received his BA from Notre Dame and a PhD from the University of Chicago, a

Jack Schwager's Hedge Fund Market Wizards is a must read. Jack and I dive in across this classic episode.

I first spoke with Donald Wieczorek in 2014. Seven years later — we are back. What a journey… His story is one of risk taking, initiative, redemption, perseverance and belief. Let’s start with the big number. Don’s firm produced 190% in 2020. No big buildup. If you want to know about trend following or if you already know about it — this conversation is inspiration. Bio: Donald Wieczorek is the Founder and President of Purple Valley Capital, Inc. (PVC). He started his career in finance at JPMorgan as a summer analyst in their Equity Capital Markets Group while still an undergraduate at Williams College. Upon graduating Williams with a B.A. in Economics in 2008, Don officially launched PVC and began managing client capital professionally using his systematic risk management strategy. In this episode of Trend Following Radio: March 2020 Track Record Bitcoin Generation Market Bubbles Inflation and Deflation Commodities

Trend following uses price to make trading decisions. That's it. My episode 955 addresses that point. This episode builds upon this critical point.

The rapid and unprecedented changes brought on by Covid-19 have accelerated the transition to remote working, requiring the wholesale migration of nearly entire companies to virtual work in just weeks, leaving managers and employees scrambling to adjust. This massive transition has forced companies to rapidly advance their digital footprint, using cloud, storage, cybersecurity, and device tools to accommodate their new remote workforce. Experiencing the benefits of remote working—including nonexistent commute times, lower operational costs, and a larger pool of global job applicants—many companies, including Twitter and Google, plan to permanently incorporate remote days or give employees the option to work from home full-time. But virtual work has it challenges. Employees feel lost, isolated, out of sync, and out of sight. They want to know how to build trust, maintain connections without in-person interactions, and a proper work/life balance. Managers want to know how to lead virtually, how to keep their te

Price is it. Trend following basics -- a dive in.

Ageing – not cancer, not heart disease – is the world’s leading cause of death and suffering. What would the world be like if we could cure it? Living disease-free until the age of 100 is achievable within our lifetimes. In prose that is lucid and full of fascinating facts, Ageless introduces us to the cutting-edge research that is paving the way for this revolution. Computational biologist Andrew Steele explains what occurs biologically as we age, as well as practical ways we can slow down the process. He reveals how understanding the scientific implications of ageing could lead to the greatest discovery in the history of civilisation – one that has the potential to improve billions of lives, save trillions of dollars, and transform the human condition. That’s my deep dive today with Andrew Steele. Enjoy! Bio: Andrew Steele is a scientist, writer and campaigner. After a PhD in physics from the University of Oxford, he decided that ageing was the single most important scientific challenge of our time and swit

Enjoy my new Trend Following Mailbag.

Did I ever think I would be interviewing the world’s leading expert on near-death experiences? My guest today Bruce Greyson reveals his journey toward rethinking the nature of death, life, and the continuity of consciousness. Cases of remarkable experiences on the threshold of death have been reported since ancient times, and are described today by 10% of people whose hearts stop. The medical world has generally ignored these “near-death experiences,” dismissing them as “tricks of the brain” or wishful thinking. But after his patients started describing events that he could not just sweep under the rug, Greyson began to investigate. As a physician without a religious belief system, he approached near-death experiences from a scientific perspective. In After, he shares the transformative lessons he has learned over four decades of research. Our culture has tended to view dying as the end of our consciousness, the end of our existence―a dreaded prospect that for many people evokes fear and anxiety. Greyson show

You Don’t Predict Trends.

For some, the idea of fasting by eating only one or two meals a day still sounds like an extreme and overly restrictive dieting tactic. But many of us already feel like victims to our daily eating schedule- three meals a day, plus snacks. Eat every few hours, we are told by the experts. This fixed eating schedule has become the norm. But the truth is this is an artificially constructed schedule that does not reflect our bodies’ natural and most optimal eating schedule. In fact, eating three meals a day causes metabolic inflexibility, which can easily lead to inflammation, weight gain, and disease. For millions of years, our bodies have actually functioned best by fasting. Functional medicine expert Dr. Will Cole gives us the ability to take control of our hunger and makes intermittent fasting intuitive. You’ll get in touch with your instinctive eating patterns, and become healthier and more mindful about how and when you eat. Intermittent fasting fosters metabolic flexibility-and once you’ve reached metabolic

Experience, Jim Simons and Raising Kids with Michael Covel on Trend Following Radio.

A hidden set of rules governs who owns what–explaining everything from whether you can recline your airplane seat to why HBO lets you borrow a password illegally–and in this lively and entertaining guide, two acclaimed law professors reveal how things become “mine.” “Mine” is one of the first words babies learn. By the time we grow up, the idea of ownership seems natural, whether buying a cup of coffee or a house. But who controls the space behind your airplane seat: you reclining or the squished laptop user behind? Why is plagiarism wrong, but it’s okay to knock-off a recipe or a dress design? And after a snowstorm, why does a chair in the street hold your parking space in Chicago, but in New York you lose the space and the chair? My guest today James Salzman explains these puzzles and many more. Surprisingly, there are just six simple stories that everyone uses to claim everything. Owners choose the story that steers us to do what they want. But we can always pick a different story. This is true not just fo