My guest today is Dave Huss. Dave discusses his transition from marketing consultant to entrepreneur. Formerly Dave did consulting work for paid advertising and now has transitioned into t-shirt design and sales (Michael notes that famed trader Salem Abraham had considered the t-shirt business before trading). He has been able to grow his business quickly due to a website called www.teespring.com. This website allows him to order shirts on-demand without any out of pocket expenses.
The topic is entrepreneur.
In this episode of Trend Following Radio we discuss:
Contract work vs. Entrepreneur
Niche markets
Online marketing
Importance of a system
Survivorship bias
“You have to stay in the game long enough to hit a few home runs and most people, whether that is in t-shirts or trading, they don’t make it.” – Dave Huss
Saturday’s Powerball drawing is a staggering $320 million. With such an enormous sum at stake, who better to turn to then Richard Lustig — seven-time lottery grand prize winner and author of “Learn How To Increase Your Chances of Winning The Lottery” — for tips on how to win.
Lustig says he’s been playing the lottery for about 25 years. He claims to play every day, but in the first few years, he says he was not winning very much.
So Lustig decided to come up with a method, which he claims has helped him win seven grand prizes, including his last jackpot of $98,000 two-and-a-half years ago.
Lustig says a guaranteed way to increase your chances of winning the lottery is simply by picking your own numbers versus using the “quick-pick” ticket option.
“It doesn’t matter how you pick your numbers, once you pick your set of numbers, research them to know if it’s a good set of numbers and stick with them. There’s no magic method to picking your numbers, I get emails every day asking. One number doesn’t win the jackpot, a set of numbers does,” says Lustig.
“The lazy way out is to buy quick-picks. The computer picks out the numbers. Don’t play quick-picks. Quick-picks are the worst thing you can do, you are playing with the worst odds,” he says.
Lustig believes that what matters is whether the set of numbers people pick is a good one or not. To know this out however, one has to research the numbers in a method only taught in his book, which, as we found out, he guards very closely … unless you buy the book.
“The research is not that easy, it takes some time. Anything in life that’s worth having takes time,” says Lustig.
Another important part of playing the lottery, Lustig cautions, is setting a budget of how much you can afford on tickets.
“Don’t get lottery fever, don’t use your grocery money, or your rent money. Remember one thing, if there is one winner on Saturday night, there will be millions of losers, don’t be that person Sunday morning worrying about how you can pay back the money you spent,” says Lustig.
One secret Lustig will share is that he believes picking the same numbers regularly, even if you are losing, gives you more edge in the next drawing.
Lustig says he will absolutely be playing Saturday’s Powerball. But when asked what numbers he’ll be playing, he wouldn’t share.
Please enjoy my monologue Larry Hite Views Outlined with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
In this episode of Trend Following Radio:
Respecting leverage
Thinking in terms of odds
Being wrong is OK
Getting the odds on your side
Risk management
Life is a series of bets
“You don’t trade markets, you trade money.” – Michael Covel
“The first part of the winning process is evaluating who you are and what you’re comfortable doing.” – Larry Hite
My guest today is Didier Sornette, the Professor on the Chair of Entrepreneurial Risks at Swiss Federal Institute of Technology Zurich. He is also a professor of the Swiss Finance Institute, associated with both the department of Physics and the department of Earth Sciences at ETH Zurich. He has worked on the King effect, a theory used to predict economic bubbles. Didier also set up the Financial Crisis Observatory in October of 2008. He brings an interesting perspective to financial crisis’s, and bubbles.
The topic is market bubbles.
In this episode of Trend Following Radio we discuss:
The adaptive market hypothesis
Dragon Kings vs. Black Swans
New economy syndrome
Predictive markets
Finite singularity
Equilibrium of the world
“When herding behaviour among investors ramps up, a stock’s or index’s growth rate can increase faster than exponentially, leading to more herding. This positive feedback brings the system to a tipping point. About two-thirds of the time, a crash results.” – Didier Sornette
My guest today is Barbara Fredrickson, a professor at the University of North Carolina at Chapel Hill. She is the Kenan Distinguished Professor of Psychology, and the Principal Investigator of the Positive Emotions and Psychophysiology Lab at the University of North Carolina. She is a social psychologist that conducts research in emotions and positive psychology.
The topic is her book Love 2.0: Finding Happiness and Health in Moments of Connection.
In this episode of Trend Following Radio we discuss:
Inner-experiences and well being
The undoing effect
Positive negative ratio
The body’s definition of love
Depression
The idea of soul mates
Emotional connections
Relationship of health and positive emotion
“When two people connect over shared positivity there is a biochemical cascade within each person.” – Barbara Fredrickson
“Positive emotions are equally altering our action urges but instead of narrowing them, they broaden our thought and action repertoire so that we can see the big picture and potentially go in many possible directions, not just one direction.” – Barbara Fredrickson
