“I have nothing to ask of you except.. continue to strive for excellence and share your work”

Feedback in:


Thank you for speaking your mind and refusing to accept anything other than the truth; this world is too full of those who are afraid to even acknowledge reality, much less face it. I respect and appreciate your focus and thirst for knowledge and am grateful for having been exposed to your work.

I’ve always had a passing interest in trading and investing, but in the past few months this interest has transformed into a full-blown obsession. I’ve read the entire Market Wizards series, Trading in the Zone by Mark Douglas, your books The Complete Turtle Trader and Trend Following, as well as several more books and interviews from the likes of Ed Seykota, Mark Minvervini, and other successful traders who have written about their journeys. I’ve even read a couple of poker strategy books for additional insight on risk management and psychology. I regularly listen to your podcast and a few others on the topic of trading and risk-management. And I will not stop seeking and acquiring new knowledge.

At 22 years of age and 5 months from completing my undergrad degree in Finance, I’ve reached the point where I am certain THERE IS NOTHING ELSE I WANT TO DO and nothing will stop me from succeeding. I have been trading my own account (<$3000) for the past 6 months with increasing levels of consistency and success using a trend-following strategy I've pieced together from my research and limited backtesting (the research included in Trend Following is some of the most useful I've come across). So here's where I'm at: I have some skills, I have some knowledge, I have some experience, and will soon have a degree. Even more valuable to me is the confidence I have in my ability to succeed and my willingness to endure whatever pain it takes to achieve my goals. I come from a very humble background by US standards and am determined to create a better life for my family. I have nothing to ask of you except that you continue to strive for excellence and share your work with others. Your honest perspective, ability to convey information, and connection to a near-endless supply of relevant knowledge and experience have made a huge difference in my life. You have helped me see through the veil and discover what I really want in life and what it will take to get there. Maybe someday I will have the chance to repay you with a beer and a great conversation. Until then, discipline is the name of the game. Respectfully, [Name]

Good luck!

“Your style… is so much more refined than 99% of the other podcast hosts…”

Feedback in:

I have listened to all the podcast interviews I could find with Mark Minervini and it is amazing how poor they are in comparison to yours. Most of the podcast hosts appear to be reading questions from a prepared list and don’t have enough interest to dig into Mark’s responses for their next question. Your style of talking to your guests is so much more refined than 99% of the other podcast hosts. Well done.

Thanks. I really don’t write questions any more. Couple pages of notes and then let it ride!

“I am weird, BTW…”

Feedback in:

Hi Michael,

I thought I would reach out to you to let you know I have just reviewed your podcast on iTunes. I find your podcast inspiring and I am in the process of putting the knowledge gained into practice. Hopefully I can feature as a Success story in the future! I have also requested you as a friend on FaceBook. I thought I would let you know as I am sure you get lots of weirdos harassing you. You will have to be the judge on whether I am a weirdo or not!

I am thanking you in the best way I know by buying your new Trend Following book. I bought the 2003 edition already but at that time I wasn’t ready to absorb the information. Keep up the good work on the podcast, it is much appreciated.

Many Thanks,

I am weird, BTW.

Ep. 641: Josef Marc Interview with Michael Covel on Trend Following Radio

Josef Marc
Josef Marc

Subscribe to Trend Following Radio on iTunes

Josef Marc is an author, entrepreneur, and CEO of Publica developing in the publishing world via blockchain. Publishing companies are some of the most inefficient businesses around today. Josef not only has cultivated a strategy to work around many of the hang-ups created by working with publishers, but has re-imagined the process altogether.

We have reached an era where people no longer care who the publisher is. Buyers can do their own research, read reviews and decide if they want to buy. How does blockchain technology help with this process? During an author’s campaign period, excitement can be generated through blockchain. Searching the content of books is easier through blockchain and there is a deeper sense of engagement throughout the community. Blockchain developments not only supply a platform for an author to get their name out, but it also creates a unique vehicle for payment. Josef also explains how blockchain can help with the re-sale of books and track when, what and who is buying a book or product.

For years Amazon has had a monopoly on book sales. Amazon relies on customer reviews to promote books and get others to buy. There is one small problem with this process – it is almost impossible to track the legitimacy of these customer reviews. How are reviews more accountable through blockchain? Everything is tracked and users have “tokenized” accountability.

In this episode of Trend Following Radio:

  • Blockchain community
  • Progress bars
  • Fake reviews
  • Distributing a book on blockchain
  • Crowd funding
  • Tokens
  • Read tokens
  • Book translations

Mentions & Resources:

“A reminder of how in, out, and around the finance box these guests are…”

Feedback in:


Had to send you an email after seeing the Alison Gopnik interview pop up this morning. You’re outdoing yourself with the diversity of these guests, and I can’t thank you enough for the people you’ve directed me towards (I owe you Annie Duke and the Play Bigger guys particularly). I’m already familiar with Gopnik, but seeing the name was a reminder of how in, out, and around the finance box these guests are. You are literally an idea gold mine. Thank you.

Keep it up,


“I haven’t got a college degree, and my question is…”

Feedback in:

Hello Mr. Covel!

My name is [Name]. I’m a frequent listener of your podcast and I was wondering if you could give me a piece of advice.

I’m 20 years old and I just moved to London, I have no former experience in finance or the markets but for the past two years I decided that I wanted to be a trader and have started to read many books about the markets and finance (including yours, except trend following which I haven’t read yet).

I haven’t got a college degree, and my question is: Should I go to college and get an economics degree or should I try to get a job at an hedge fund?

I don’t know anybody that works in the industry so I would need to go “knock on doors” and ask for one and because I’m not formally qualified I am more than willing to work for free for whatever time necessary, serving coffee or whatever is needed.

The other option is to go to college but I have seen interviews with great traders like Stanley Druckenmiller and Paul Tudor Jones, who went to college in the University of Virginia but it seems that his real market education was with Eli Tullis who he did serve coffee for like he said in the documentary trader where he basically called the 1987 crash. Jones also said in a interview, which I quote; “While I’m a staunch advocate of higher education, there is no training — classroom or otherwise — that can prepare for trading the last third of a move, whether it’s the end of a bull market or the end of a bear market. There’s typically no logic to it; irrationality reigns supreme, and no class can teach what to do during that brief, volatile reign. The only way to learn how to trade during that last, exquisite third of a move is to do it, or, more precisely, live it — a sort of baptism by fire. One has to experience both the elation and fear as markets move five and six standard deviations from conventional definitions of value”.

And economists like Peter Schiff who basically says that college are a waste of time and money and gives pretty good arguments and shows good evidence of why that is…

Since you are a very successful entrepreneur and have interviewed great traders, fund managers and award winning economist over the years and have written several books about the markets: Is it a ridiculous idea to ask if you could give me your advice to what path should you think I should follow?

Thank you very much for your books and podcast! Thank you for taking the time to read this email!

Best Regards,


1. Read Linchpin by Seth Godin.

2. Read this.

3. Read Unlimited Power by A. Robbins.

4. Read my favorite books.

5. Listen to my podcast (all).

6. Read my 5th edition.