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Author: Michael Covel

Author of Trend Following and TurtleTrader.

The Psychology of Losing

Posted on by Michael Covel

Feedback in:

Mike. Are you ever returning to San Diego? How is yoga and world travels? Here is a quote from a guy that has sold millions of books and truly just about sums up the masses and the psychology of losing: “If you made money in 2008, you did something wrong” from Ben Stein. Ok, thought you would get a kick out of it.

Joe C.

I used that quote to start my Little Book of Trading released summer 2011.

I’m in Asia now and the yoga is great!

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

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• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Ep. 219: Carl Richards Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Carl Richards
Carl Richards

My guest today is Carl Richards, a Certified Financial Planner and creator of the Sketch Guy column, appearing weekly in The New York Times since 2010. Carl has also been featured on Marketplace Money, Oprah.com, and Forbes.com.

The topic is finance.

In this episode of Trend Following Radio we discuss:

  • Richards’ new radio venture
  • How Richards came to start The Behavior Gap
  • Outliers, and living your own bell curve
  • Risk on a daily, weekly, and monthly basis
  • The definition of radical self-awareness
  • Mindfulness and awareness as applied to our financial decisions
  • Habit, action, feeling, and thought
  • Simplicity and effectiveness
  • Government intervention in the markets
  • Quantitative easing
  • Buy and hold in Japan
  • Loss aversion and the pain of loss
  • Feeling loss more than the joy of gain

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carl-richards-behavior-gap

Ep. 218: Sam Polk Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Sam Polk
Sam Polk

My guest today is Sam Polk, a former wall street banker who walked away after making millions. Today, Polk runs a non-profit to help the poor understand nutrition. However, his op-ed is definitely controversial.

The topic is his op-ed For The Love of Money. 

In this episode of Trend Following Radio we discuss:

  • The intensity surrounding the reaction to Polk’s op-ed piece
  • Reactions from friends and colleagues about the article
  • Envy and jealousy in the Wall Street world
  • Polk’s background and life growing up
  • Filtering cultural messages
  • The line between individual responsibility and being part of a system
  • Crony capitalism
  • Power dynamics
  • The mythology of risk-taking in America
  • The solution for the investment banks out there
  • Polk’s non-profit which he runs today

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sam-polk

Stops. Just Stops.

Posted on by Michael Covel

Feedback in for a new podcast idea:

Podcast idea: How do you reconcile “Let your profits run” with “Pigs get slaughtered?”

Easy — a stop.

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Ep. 217: Risk, Reward and The Process with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Risk, Reward and The Process with Michael Covel on Trend Following Radio
Risk, Reward and The Process with Michael Covel on Trend Following Radio

Please enjoy my monologue Risk, Reward and The Process with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Listen to this episode:

Want to learn more Trend Following? Watch my video here.

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More on Malcolm Gladwell & Nassim Taleb can be found here.

Ep. 216: Jack Schwager Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Jack Schwager
Jack Schwager

My guest today is Jack Schwager, a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. Schwager is one of the founders of Fund Seeder. Previously, he was a partner in the Fortune Group, a London-based hedge fund advisory firm. His prior experience also includes 22 years as Director of Futures research for some of Wall Street’s leading firms, most recently Prudential Securities.

The topic is his book The Little Book of Market Wizards.

In this episode of Trend Following Radio we discuss:

  • How Fund Seeder acts as a liason for traders and investors
  • The difficulty of starting out as a new trader
  • How Fund Seeder is a global opportunity
  • Schwager’s last book, Hedge Fund Market Wizards
  • The timeless quality of the Market Wizards books
  • Jesse Livermore’s Reminiscences of a Stock Operator
  • How human nature is the only thing that will never change
  • Looking for a “secret recipe” in the Market Wizards book
  • “The Upside of Down: Why Failing Well Is The Key To Success” by Megan McArdle
  • Why failure is smart and an essential part of success
  • The importance of failure in the context of education
  • Behavioral economics
  • Jack Horner and thinking outside of the box
  • The importance of loving what you do for a living
  • The importance of travel

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