Trend Following With Michael Covel

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 T

My guest today is Mikael Stenbom, the CEO and founder of RPM, which is an advisory consulting firm in Sweden. They advise, consult, or manage over 3.5B AUM. Stenbom has had tremendous experience in understanding strategy and the money management side of the CTA/managed futures world. The topic is CTA's. In this episode of Trend Following Radio we discuss: Stenbom's early influences Stenbom's economics background Connections between economics, trading, and sociology The Austrian school of economics His style of responsive, systematic trading to new clients Andrew Lo's Adaptive Markets Hypothesis The process of rebranding Stenbom's firm in 2008 The "politically infected" investor The cultural compatibility between Nordic countries and the Japanese 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 pas

My guest today is Tom DeMark, the founder and CEO of DeMark Analytics and the creator of the DeMark Indicators. The DeMARK studies are known internationally for their objective and mechanically-driven approach to both trading and investing, and are designed to anticipate potential price activity in the financial markets. The topic is Trend Following. In this episode of Trend Following Radio we discuss: How all conceivable market factors are in the price movement Obsession, passion and practice Having the "cover story" of fundamentals, but using technical analysis behind the scenes Elliott wave The fibonacci sequence Forecasting DeMark's thoughts on George Soros, Michael Steinhardt, Paul Jones, Steve Cohen, and others Thoughts on when DeMark first started computerizing his indicators Why you'll fail if you rely solely on charts DeMark's thoughts on the pure price driven, reactive trend following traders Introducing a new variable into a pure trend following approach Jump in! --- I'm MICHAEL COVEL, the host o

My guest today is Cal Newport, an American non-fiction author and associate professor of computer science at Georgetown University. The topic is passion. In this episode of Trend Following Radio we discuss: Alan Watts Why following your passion isn't such a great idea from Newport's perspective The notion of deliberate practice and the 10000 hour rule, falling back on simplistic strategies that fail Passion following success as the true gauge Misconceptions about passion Thinking of passion as a side-effect of running your career in the right way Overcoming difficulty as a necessary step in the process The work and analysis Newport has done looking at top chess players The systematic aspect of gaining skill and its ties to passion Anxiety and failure 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 al

My guest today is Yaron Brook, an Israeli-American entrepreneur, writer, and activist. He is an Objectivist and the current chairman of the board at the Ayn Rand Institute, where he is the executive director. The topic is liberty. In this episode of Trend Following Radio we discuss: Trading The nature of altruism The idea and definitions of selfishness in the context of objectivism The power of ideas The idea of being a victim Schools, teaching, and political teaching Entitlement leading to victimhood The rise of state power, the ambitious poor, and the minimum wage Free work and internships Alan Greenspan America compared to Singapore 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

Please enjoy my monologue Cambodia, Picasso & Bubbles with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- 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 My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast co

Please enjoy my monologue Fear, Snakes and Markets with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- 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 My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversat

My guest today is Porter Erisman, a former Vice-President at Alibaba Group (2000-08), China's internet giant. He witnessed it grow from humble beginnings into the world's largest e-commerce company. The topic is his documentary Crocodile in the Yangtze. In this episode of Trend Following Radio we discuss: What it was like working with Jack Ma Short-term vs. long-term entrepreneurs The lack of knowledge/insight America has for China The perceived threat of China to America Whether nationalism played into Ma's success The commonalities between the greatest internet entrepreneurial success stories Government interference with Alibaba How eBay was defeated by this small startup in China 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

My guest today is Tim Price, a partner and director of investment at PFP Wealth Management in the UK, an independent asset management and financial planning practice. The topic is markets and investments. In this episode of Trend Following Radio we discuss: The subordination of freely discovered prices to policy goals Why the recent trading environment seems "wrong and dangerous" Why Price wouldn't be able to speak freely working for a large bank Why Price and his colleagues aren't "doom and gloomers" Why the media neglects to report on black swans Why the role of the Fed is to keep "spiking the punch" The vested financial pushback on having some of these views Risk and "Against The Gods" Why people are hardwired to be loss averse An analogy to the US Forest Service 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

My guest today is Vernon Smith, the first Nobel Prize winner to appear on this podcast. Smith is an American economist and professor of business economics and law at Chapman University. He is formerly a professor of economics at the University of Arizona, a professor of economics and law at George Mason University, and a board member of the Mercatus Center. The topic is economics. In this episode of Trend Following Radio we discuss: Bubbles Some of Smith's early experiments How "we're all born traders" Early "ah ha" moments Early science and engineering beginnings Upsetting the conventional economics "apple cart" The difference between "hamburgers and haircuts" and the other 25% of goods Smith's experience bringing Chicago traders into lab experiments How we see the dotcom bubble, spring of 2003, and the real estate bubble today Differences between housing bubbles and stock market bubbles Understanding why bubbles happen Liberty Views on Adam Smith Smith's ideological journey from socialist to his libertaria

My guest today is Brad Rotter, a speculator, and venture capitalist. He's not a trend follower per se, but he's made money in the trend following world. He was the first investor with Richard Dennis in the early 1980's. The topic is Bitcoin. In this episode of Trend Following Radio we discuss: How Rotter became an entrepreneur from early years as a farmer in Iowa How he came to be Richard Dennis' first client when he started managing money Why the US is at 'peak civilization' Why technology is arbing away the need for people How the unit of time is changing Why it's harder and harder to make an easy living Whether the US government is the greatest hedge fund in history Why Bitcoin is a 'perfect' currency 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.

My guest today is Fabian Lim, an internationally acknowledged digital marketing expert and, in a sense, a life coach focused on helping individuals to discover their true selves. He is a serial entrepreneur, best-selling author, and licensed jet pilot. The topic is entrepreneur. In this episode of Trend Following Radio we discuss: Life in Singapore generally, and how Singapore has become "the gleaming city on the hill" Singapore's success despite its lack of natural resources, and how its airport represents the forward thinking found there Lim's first entrepreneurial ventures The varied reasons that cause us to become entrepreneurs, and the difference between online and offline entrepreneurs Experience in the context of entrepreneurship, and how it can be used as an excuse Timeframes and getting out of the "employee" mindset Becoming rich, and why it's a choice Classical conditioning, self-limiting beliefs, and breaking the mold to become an entrepreneur The idea of "failing faster" The connection between Li

My guest today is Dylan Evans, a British former academic and author who has written books on emotion and the placebo effect as well as the theories of Jacques Lacan. The topic is risk intelligence. In this episode of Trend Following Radio we discuss: Definition of risk intelligence Optimism bias Correlations between IQ and risk intelligence The Brandywine Raceway in Delaware and unconscious statistical modeling Probabilities and the nuclear power risk issue Making decisions on uncertain information The expected value mindset Bet sizing How luck is always part of the game Knowing when not to bet The hidden costs of trying to eliminate risk in a system where risk can never be eliminated The "calibration test" for risk intelligence. 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 explor

Please enjoy my monologue David Harding, Josh Brown and the Funny Phase with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- 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 My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-end

Please enjoy my monologue Uncertainty, Prediction and Personal Responsibility with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- 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 My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my nev

Please enjoy my monologue Getting Hurt is Part of the Game with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- 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 My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast c

My guest today is Nick Atkeson, a founding partner of Delta Investment Management, LLC. Mr. Atkeson has over 17 years of industry experience. Prior to founding Delta Investment Management, Mr. Atkeson was a partner and portfolio manager of Delta Force Capital, LLC, a San Francisco based hedge fund from 2006 to April 2009. The topic is his book Win By Not Losing: A Disciplined Approach to Building and Protecting Your Wealth in the Stock Market by Managing Your Risk. In this episode of Trend Following Radio we discuss: Momentum and streaks Some of the stories contained in Atkeson's book, including "Sonny" in Vegas and his ability to disrupt the earnings of the Rio Casino, and the idea of the "theo" Why people should invest at all Uncertainty in the markets, with jobs, and in retirement Market timing Asset allocation decisions Negative tail risk Black swans What happens when/if the US potentially defaults on its debt The idea of "systematic", taking your losses, and behavioral finance Loss avoidance How Atkeson

Please enjoy my monologue Bastardization of Trend Following with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- 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 My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast

My guest today is Lewis Howes, a lifestyle entrepreneur with a wealth of different experiences, from starting new businesses to pro-athletics. The topic is lifestyle entrepreneur. In this episode of Trend Following Radio we discuss: How his beginnings in athletics and an injury led to where Howes is today Sacrifice in the context of sports and business Howes' early influences and mentors Some of Howes' early successes The shift from success to impact Why "I want to make a billion dollars" is not a great goal to set for yourself The importance of knowing the "why" of your goals Howes' experience with his podcast Why doing something different every day is important to happiness Advice for those who want to make fitness a part of their lives Sleep management 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 a

My guest today is Larry Williams, an American author, stock and commodity trader, and politician from the state of Montana. The topic is trading. In this episode of Trend Following Radio we discuss: IRS and Congress Targeting of individuals and groups by the government Facing the government in a court case and negotiating with the IRS How Williams approached trading at the beginning, and his motivations to do so How growing up in Montana affected Williams personally How Williams came to run for Senate and his reasoning for doing so The importance of speculation, and the difference between speculation and gambling How Williams made the migration from stocks to thinking about futures How Williams approached the emotional and money management sides of the equation Risk control Understanding what kind of system "fits" you best The changing condition of markets Keeping it simple The importance of learning from injury How Williams came to his Libertarian mindset Jump in! --- I'm MICHAEL COVEL, the host of TREND F