Episode: “What If Money Was No Object?”

Synopsis: As America approaches Thanksgiving this week Michael Covel is feeling reflective. He plays a speech by author and philosopher Alan Watts asking, “What would you do with your life if money was no object?” Covel shows you how you can make money, but asks: What will you do with it once you have it? It’s about freedom, it’s about finding options. It’s not just about protecting it once you have it. So once you have the money you need what are you going to do with it? Covel goes on to discuss the importance of making something of yourself; of not sitting there and completing the dry obligations of the day. You need a shake-up in your life. It’s time to find something different. Next, Covel plays a talk by author and blogger Seth Godin. Covel riffs off Godin’s Q&A session noting the importance of finding something you truly feel passionate about, but knowing that it might not necessarily mean you’ll be the next Apple. The important thing is to start now; don’t wait until you finally realize the industrial revolution is over. You don’t have to have a plan–just put yourself into motion. That’s what Covel did: Start with your passion, and figure out how to pay the bills around that. Whether it’s investing, building a business, entrepreneurship, or anything else (like trend following). Godin is great at explaining that accepted systems are dead. You have to create and use your own microphone to get your message out. Covel also discusses resistance, being able to survive to play the next hand, the importance of bet size, and diversity in your betting. Don’t become emotionally invested in one idea; you might have to adjust within the place that you love. Next, Covel talks about a recent experience he had with government bureaucracy with regard to an international deal and how his experience might hint at future ills. Free DVD offer: www.trendfollowing.com/win.

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You might like my 2017 epic release: Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets (Fifth Edition). Revised and extended with twice as much content. Out April 24th 2017.

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