My guest today is Andrew Huszar, a Senior Fellow at Rutgers Business School and also a former Morgan Stanley managing director. In 2009, he managed the Federal Reserve’s 1.25 trillion dollar mortgage-backed security purchase program.
The topic is the direction of the Federal Reserve.
In this episode of Trend Following Radio we discuss:
Looking at the short term
Black swans
Huszar’s history and how he came to work for the Federal Reserve
The changing of the banking model in the US from the 1980’s to the late 2000’s
Quantitative easing
Why Huszar ultimately left the Fed at the beginning of 2011
How the Fed has become over five times bigger in recent history
The current source of Wall Street money
The idea of an overly financialized US economy
The need for long-term structural changes in the US
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Hi Michael, I wonder if you feel there is a link between your podcast and the bitcoin bubble? I notice the prices seems to breakout and take off just after your podcast is published? If so I am impressed with the amount of influence you have. I am curious as to how you feel about this?
My guests today are Hersh Shefrin and Arvid Hoffmann.
Hersh Shefrin has done pioneering work in behavioral finance and is the author of Beyond Greed and Fear.
Hoffmann is a colleague of Shefrin. He is a Professor of Finance at Maastricht University in the Netherlands.
The topic is their paper, Technical Analysis and Individual Investors.
In this episode of Trend Following Radio we discuss:
Covel and Shefrin discuss how Shefrin came to know that behavioral finance was his path; the two-system framework; the connection to behavioral and eating disorders; the disposition effect; when emotion and reason are in conflict; “transferring your assets” vs. “selling a loss”; distinguishing between rules and discretion; how we stick with rules for ourselves given the context of our humanity; the psychological pitfalls of the 2008 financial crisis; the inevitability of market crises; Minsky and Keynes; the psychology of Keynesian economics; and human ideas surrounding uncertainty.
With Arvid Hoffmann, Covel discusses the paper Technical Analysis and Individual Investors; the inspiration for the paper; Hoffmann’s definition of technical analysis; the narrow focus of the paper to short-term trading; technical analysis and trend following; “invest as if the market was efficient”, and “restrict your attempts to beat the market”
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An Agenda or Acting Job with Michael Covel on Trend Following Radio
Please enjoy my monologue An Agenda Or An Acting Job with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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My guest today is Mark Miller, an American computer scientist. He is known for his work as one of the participants in the 1979 hypertext project known as Project Xanadu; for inventing Miller columns; and the open-source coordinator of the E programming language. He also designed the Caja compiler. Miller is a Senior Research Fellow at the Foresight Institute.
The topic is computer science.
In this episode of Trend Following Radio we discuss:
Property rights
Hernando de Soto
Bitcoin and digital trust
“Smart contracts”
Why a contract is like a board game
Game theory
3rd World infrastructure
How program code can become a contract
A closer look at “possession is nine-tenths of the law”
Whether the Turing Test was just passed
Defining the term “singularity”, and the multiple singularities of the past
A.I. and nanotechnology
How Miller’s work relates to markets
The history of hypertext
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