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My guest today is Karen Petrou, one of the most influential experts on financial policy and regulation in the world. She is cofounder and Managing Partner of Federal Financial Analytics, a consulting firm that provides analysis and advisory services on legislative, regulatory, and public-policy issues.
The topic is her book Engine of Inequality: The Fed and the Future of Wealth in America.
In this episode of Trend Following Radio we discuss:
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Hello Michael, I’m a [name] salesman in [Asia]. Last week I met one of my clients. He’s a multi-billionaire hedge fund manager who is about to convert his fund into a [structure]. I asked him what is one piece of advice he can attribute his investment success to. He said something along the lines of (I’m paraphrasing) “Risk small, admit being wrong fast, keep riding your success.” To be frank, I didn’t really grasp what he was referring to. It was too abstract. As a final piece of advice he told me to search for Michael Covel’s books and podcasts to get a better understanding. And this is how I found your email address. So I just personally wanted to say a massive thanks to you for all the material you’ve created. It’s been so, so, so eye opening. Thank you.
Thanks!
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.

Subscribe to Trend Following Radio on iTunes
Please enjoy my monologue The Trend Following Tell with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive
Want to learn more Trend Following? Watch my video here.
Feedback in:
Hi Michael, I’ve just read you Trend Following book and enjoyed it. My biggest challenge is what you referred to as the need to be right. I appreciate now that I must change this abs I know it’ll be a rewarding, albeit challenging, journey. I am interested in learning the how of identifying trends. In particular ideas around doing so. I believe that the reversal aspect of a trend will also be challenging but I am quite adapt at developing back tests and systems of rules. I just do not have a solid idea of how to find trends.
Thanks,
Rubens
It’s not about finding trends. You need:
• Exact rules for selecting your tracking portfolio.
• Exact rules for entering your trades at the right time.
• Exact rules for exiting your trades with a loss.
• Exact rules for exiting your trades with a profit.
• Exact rules for how much money to bet on each trade.
If you have those 5 rules you will invariably ride trends, but you don’t just find trends.
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.
Feedback in:
My biggest challenge is recognizing a clear trend and not revenge trading.
What system and time frame do you use now?
Your issues almost guaranteed? You don’t have a valid system.
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.

Subscribe to Trend Following Radio on iTunes
My guests today are Hans Greimel and William Sposato.
Hans is an award-winning American business journalist based in Tokyo, where he serves as Asia Editor for Automotive News, overseeing coverage from Japan, China, and South Korea.
William is a Tokyo-based correspondent and consultant who has been active in Japan for more than twenty years, with senior roles at Reuters and the Wall Street Journal. He is currently a writer and regular contributor to Foreign Policy magazine.
The topic is their book Collision Course: Carlos Ghosn and the Culture Wars That Upended an Auto Empire.
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