Synopsis: Michael Covel talks about “The Power of Now” by Eckhart Tolle. Covel defends studying the book as a psychological manifesto for “navigating the trend following waters”. Halfway through the book Covel realized how it sounded like all the trend following traders he’s studied over the past fifteen years (even if it wasn’t the author’s intention). Covel isn’t out to get you to start singing kumbaya and burning incense; he’s just out to get you to look at the world differently so you can profit. Covel discusses Cullen Roche, author of the “Pragmatic Capitalism” blog, who posted some quotes from Warren Buffet recently. Covel acknowledges that Buffett is one of the most successful entrepreneurs in the history of modern man, but has no problem criticizing the myths that surround him. Buffett noted that Berkshire has $40 billion in cash on hand, but “prices are difficult right now”. So, what does that even mean? Why is Buffett on CNBC? He’s talking his “book”, he’s creating the aura, and perhaps confusing people into making decisions based off his advice. Or perhaps he simply needs his ego stroked. So, what do you buy based on that advice? How do you make buy and sell decisions? Trend following doesn’t rely on vague statements, and the positive performance dates back to 1903. With trend following price is price. That is an under the radar concept though. Most people simply know Buffett’s value investing, buy and hold world. However, there are inherent problems in value investing and Covel investigates by quoting David Rosenberg and John Hussman along the way. From their fundamental perspective Rosenberg and Hussman lay the foundation for trend following without thst being their intention. Covel also goes on to discuss “Finding Peace with Uncertainty” from the Zen Habits blog and announces a new $500 gun shooting video contest. Offer–Would you like a free special DVD: trendfollowing.com/free.html.