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Price, Price, Price: The Trend Following Battle Cry

Posted on by Michael Covel

Feedback in:

Just one last question. Do you use any indicator? Or is analysis done only using price action?

[Name]

The 3 best indicators are: price, price, price.

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 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. 236: Robin Hanson Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Robin Hanson
Robin Hanson

My guest today is Robin Hanson, an associate professor of economics at George Mason University and a research associate at the Future of Humanity Institute of Oxford University.

The topic is outside the box economic perspectives.

In this episode of Trend Following Radio we discuss:

  • Prediction markets
  • Vernon Smith and coming up with the “why” for booms and busts
  • Dealing with a complex world based on our limited abilities
  • Steering towards humanity’s future
  • Hanson’s physics background, and how he came to where prediction markets became a passion
  • How prediction markets can make us pay more attention to the truth
  • Hayek and Mises, and some of their thinking early on
  • What taboos and idealogical beliefs might stop one from making optimal decisions
  • If people have employed particular trading strategies to the prediction markets
  • Stop losses as information and as risk preference
  • Setting up a market to bet on geopolitical events in the Middle East, and the controversy based around that
  • Why DC politicians often cannot handle the research Hanson does
  • Why Hanson has elected to have his head cryonically preserved after medical death based on a cost-benefit analysis

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Ep. 235: Harry Markowitz Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Harry Markowitz
Harry Markowitz

My guest today is Harry Markowitz, the third Nobel Prize winner to appear on this podcast. Markowitz is an American economist who received the 1989 John von Neumann Theory Prize and the 1990 Nobel Memorial Prize in Economic Sciences. Markowitz is a professor of finance at the Rady School of Management at the University of California, San Diego.

The topic is modern finance.

In this episode of Trend Following Radio we discuss:

  • Justin Fox and “The Myth Of The Rational Market”
  • Markowitz’s beginnings, and the Nobel Prize
  • Markowitz’s 1952 paper
  • How Markowitz felt about some of his prescriptions and ideas being interpreted into dogma
  • Why Wall Street was not interested in Markowitz’s theories at one time
  • Diversification for the right reason
  • Markowitz’s new four-volume book
  • Advice on maintaining mental acuity at an advanced age and sounding like you’re 35 when you’re 86 years young
  • Markowitz’s attraction to the philosopher Hume
  • If it was fifty years later, if Markowitz would be a quant running a hedge fund today
  • Markowitz’s legacy
  • On being comfortable vs. being rich
  • The leveraged long-only hedge fund industry and being coaxed into putting your money into these institutions
  • Long Term Capital Management and portfolio theory

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Brain Injury to Mathematical Genius; No Prediction!

Posted on by Michael Covel

Feedback:

Hi Mike, I just listened to a recent interview by the CBC with Jason Padgett. He had a traumatic brain injury which had the curious effect of making him a math savant, particularly regarding geometric patterns. The subject matter is interesting in and of itself and he just released a book about it. There’s a short passage in the interview at 12m35 where he mentions he was approached by a financial company in Toronto that wanted to hire him to analyze charts. His response will be right up your alley. He basically concluded that it’s not possible to “predict” future price action from chart patterns. Worthy of a sound bite or maybe even as a guest?

Keep up the great work!

Cheers,
Georges

Awesome. Thanks. I reached out to his publisher.

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.

Trend Following Podcast Feedback from Down Under

Posted on by Michael Covel

Some podcast feedback:

Hi Michael, Just a quick email to congratulate you on a brilliant podcast. I’m a Financial Adviser and blogger in Australia and just love your insights and range of guests on the show. The mix of content you cover from investing to economics, psychology, marketing and entrepreneurship is amazing. My brain is buzzing with ideas every time I finish a podcast. Your presentation style makes for easy listening and you obviously do plenty of research on your guests. Keep up the great work and hopefully you make it to Australia some time soon!

Regards,

Wally [Name]

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.

Ep. 234: Ryan Holiday Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Ryan Holiday
Ryan Holiday

My guest today is Ryan Holiday, director of marketing for American Apparel; media strategist for Tucker Max, Dov Charney, and others.

The topic is his book The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph.

In this episode of Trend Following Radio we discuss:

  • Marcus Aurelius’ philosophy and stoicism, and why it has such a hold on Holiday
  • Distraction
  • Why the impediment to action actually advances action
  • The unpredictability of the world, and how we react to the world
  • George Clooney, and his start as an actor related to the obstacles we all face
  • Steve Jobs’ reality distortion field
  • What drives Holiday today
  • How will is the ultimate trump card
  • The two definitions of will
  • Alabama Crimson Tide coach Nick Saban and his approach to the moment of now
  • Feeling great about the fight, the adversity, and the challenge
  • How the process is intrinsically valuable

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Distraction Kills

Posted on by Michael Covel

Facebook’s CEO Mark Zuckerberg:

“I want to stress the importance of being young and technical. Young people are just smarter. Why are most chess masters under 30? I don’t know. Young people just have simpler lives. We may not own a car. We may not have family. Simplicity in life allows you to focus on what’s important.”

Of course, family, and other aspects of life are important, but that doesn’t take away from Zuckerberg’s wisdom. Want to make something big happen, like trend following success, then avoid distraction. Period.

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.