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Episode: Skepticism, Agnosticism & Hugh Hendry

Synopsis: Michael Covel is a skeptic, and that’s how he likes it. If you’ve listened to him more than once, it’s probably because you relate. He wants you to show him the truth. He’s agnostic to the market, too; he knows that price is the only truth. Covel starts off today’s episode with a song from XTC that reflects that sort of agnosticism. In a continuing search for more truth, Covel spends the rest of the episode providing commentary on a speech called “God Is A Genius Because He Is A Sloth” by Hugh Hendry, who has become a fairly noteworthy hedge fund manager in recent years. Covel points out that Hendry doesn’t appear to be a trend following trader; at least not in the classical sense. But his response to questions will make you think. Covel discusses elements of Hendry’s speech that includes the impossibility of being able to predict the future; emotional intelligence; “not wanting to know”; why procrastination can kill you; disciplined curiosity; being agnostic to the market; being wary of “the brightest guy in the room”; and why falling in love with your analysis is not risk management. Hendry gets right at some of the root essence of being a trend following trader. Although he isn’t a technical trend following trader by definition, he sure sounds like one. Would you like a free trend following DVD? Go to

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One comment on “Episode: Skepticism, Agnosticism & Hugh Hendry
  1. Jim Rohrbach says:

    One of the mysteries of the market is the fact that it can fluctuate wildly on a daily basis. Why should that be when the value of the stocks have no reason to increase and decrease that much, on a daily basis. Maybe the wild fluctuations are caused by predictions. And we all know that the market can’t be predicted. But what if enough people purchase and sell based on whether they think Fed will continue to pump money into the market. Then if they get scared that the Fed will raise interest rates, and thus cause the market to decline, they sell and cause the market to decline. Could it be that the wild fluctuations are figments of the investors prediction imaginations?

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