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.