Trading Food for Thought: May 14th Edition

Trend Following Feedback Email with Q&A

Feedback in:

Hi Michael,

Lots to say, but I’ll try to keep it succinct.

1. Your podcast: Thank you for all the work you put into this. I look forward to each episode, and I really enjoy the variety of topics and guests you bring to your listeners.

2. New book: Congratulations on already hitting #1 on Amazon! I received my copy last week, and began first by scanning all the wonderful quotes you’ve placed along the side margins. Obviously a lot of work went into this expanded and updated version, so I’m wondering… would you consider doing a special podcast episode (or perhaps post something on your website) along the lines of a “study guide” for your readers?

3. Your life: I’d be very interested to learn why you decided to relocate to SE Asia (your primary residence is in Vietnam I believe?), how it’s been for you as a American (?) making his home in another country, the good points and bad points of life in that part of the world, and advice for others contemplating a move. Have you ever done a podcast about this?

Thank you again for all the work you put into the podcasts — they actually make me look forward to my commute!

Redwood City, CA

Study guide? Not yet. 700 pages in the new edition. I need a break! On other fronts I have talked about my “living” on the podcast a lot, but can’t direct you to one comprehensive episode. Maybe I will do that soon. Good idea.

Ep. 553: Andy Molinsky Interview with Michael Covel on Trend Following Radio

Andy Molinsky
Andy Molinsky

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Andy Molinsky author of “Reach: A New Strategy to Help You Step Outside Your Comfort Zone” is on the podcast. Everyone can learn better ways to push themselves and step outside of their comfort zone. Andy and Mike help show listeners how to get there.

If we can’t find ways to sacrifice comfort, how do we obtain future success? There is some truth to living on the edge of your comfort zone. However, sometimes it is perfectly OK to stay in your comfort zone, like trading in the stock market. There are times to play it safe and there are times to take the leap. Often there is a lot of work that goes into taking a leap that is commonly overlooked. Having a person to hold you accountable, push you, or just let you know when an idea is good or not can be a critical building block to your success.

How you execute an idea is also monumental to creating success. Taking uncomfortable steps is often necessary to get projects off the ground. Andy uses the story of Neil Kennedy as an example. Neil had a comparable website to Facebook before Facebook was around. He was shy and uncomfortable talking to venture capitalists and wasn’t able to move forward in getting his project off the ground. Because of this, Facebook succeeded and Neil failed.

Five core challenges to stepping out of your comfort zone that Andy points out are: 1. Authenticity challenge 2. Likeability challenge 3. Competence challenge 4. Resentment challenge and 5. Morality challenge. You may not experience all of these challenges but they are a nice road map to help single out your weak points. Mike and Andy finish up their conversation talking about presentations and how to engage an audience.

In this episode of Trend Following Radio:

  • Stepping outside your comfort zone
  • Accepting failure
  • Creating challenges of yourself
  • Fear of failure as motivation
  • How to present in front of an audience

Mentions & Resources:

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Trading Food for Thought: May 9th Edition

Ep. 552: Mega Eclectic Number Two with Michael Covel on Trend Following Radio

Fun Picture Serious Subject
Fun Picture Serious Subject

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Today is another mega episode featuring Douglas Emlen, Toby Crabel, Robert Aumann, Ryan Holiday, Sally Hogshead and Michael Mauboussin.

Douglas Emlen is a professor at the University of Montana. He is the recipient of the Presidential Early Career Award in Science and Engineering from the Office of Science and Technology Policy at the White House. He has also earned multiple research awards from the National Science Foundation, including their five-year CAREER award.

Toby Crabel is founder of Crabel Capital Management. His approach is very different from Covel’s, but there are some commonalities: price action driven, systems, models, risk management. Crabel works on a whole different timeframe than the typical trend follower, typically turning his portfolio over in less than a day. Crabel, a former pro tennis player, has a philosophical nature and discusses how he executes these philosophies in the trading world.

Robert Aumann is an Israeli-American mathematician and a member of the United States National Academy of Sciences. He is a professor at the Center for the Study of Rationality in the Hebrew University of Jerusalem in Israel. Aumann is the 4th Nobel Prize Laureate in economics to be a guest on the podcast.

Ryan Holiday is an American author, writer, and marketer. He is the media strategist behind authors Tucker Max and Robert Greene, the former Director of Marketing for American Apparel and an editor-at-large for the New York Observer.

Sally Hogshead is an American speaker, author, former advertising executive, as well as the Chief Executive Officer of Fascinate, Inc. Hogshead’s newest book is “How The World Sees You: Discover Your Highest Value Through The Science of Fascination.”

Michael Mauboussin is an author, investment strategist in the financial services industry, professor at the Columbia Graduate School of Business, and serves on the board of trustees at the Sante Fe Institute (an independent, nonprofit theoretical research institute). He is managing director and head of Global Financial Strategies at Credit Suisse, where he advises clients on valuation and portfolio positioning, capital markets theory, competitive strategy analysis, and decision making.

In this episode of Trend Following Radio:

  • Humans and animals
  • International hacking
  • Game theory
  • Economics
  • World champions of peace
  • The book writing process
  • Flow state
  • Personal branding
  • Multi-disciplinary thinking
  • Luck vs. Skill
  • Outcome bias

Mentions & Resources:

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“Your passion for [trading] definitely comes across in your work…”

Feedback in:

Hey Michael,

Just sending a quick note to let you know I’m really enjoying the podcast. Most recently the Tesla Dreams episode, but still working my way through all of it.

I’m finding a lot of value in your perspective, breaking away from crowd-think, and having a healthy distrust for the system/government, etc. I always feel some sort of mental growth, if that describes it properly, after one of your monologues.

Also currently reading ‘The Litte Book of Trading’ and enjoying it so far.

Anyway – thank you for continuing to put out the great content! Your passion for it definitely comes across in your work, which is why I’d imagine it’s received so well.