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Category: Podcasts

Ep. 241: A Cult-Like Indoctrination with Michael Covel on Trend Following Radio

Posted on by Michael Covel
A Cult-Like Indoctrination with Michael Covel on Trend Following Radio
A Cult-Like Indoctrination with Michael Covel on Trend Following Radio

Please enjoy my monologue A Cult-Like Indoctrination with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Keep Calm, The Fire Rises

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Ep. 240: Nir Eyal Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Nir Eyal
Nir Eyal

My guest today is Nir Eyal, an educator, author, and entrepreneur who is all about connecting psychology, technology, and business.

The topic is his book Hooked: How To Build Habit Forming Products.

In this episode of Trend Following Radio we discuss:

  • How behavior and habits can be engineered, and how technology changes our behavior
  • The moral implications of habit forming activities
  • The difference between habits and addictions
  • Breaking “the hook”
  • The four areas that “the hook” goes through: trigger, action, variable reward, and investment
  • The IKEA example and how value can be built
  • Eyal’s mentors and influences
  • The importance of social feedback from your community
  • The WhatsApp deal, and how to deal with your “insane jealousy” of the messaging app deal
  • Getting equal pay for equal work, and how that might be embedded in our DNA
  • The importance of interface changes when it comes to revolutionary changes in technology

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Ep. 239: Brett Steenbarger Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Brett Steenbarger
Brett Steenbarger

My guest today is Brett Steenbarger, a Clinical Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • What a “flow state” is, and why it’s important
  • How Steenbarger has seen flow connect to the trading world, and the importance of matching your level of difficulty and challenge
  • Risk and risk tolerance
  • The logical and psychological sides to risk
  • “What have you done for me lately” attitude for investors
  • Why we don’t grow if we stay within our comfort zones
  • Process vs. outcome
  • The psychological burden of certain fee structures
  • Some of the common characteristics of successful traders
  • Slow thinking, deep thinking, and fast thinking
  • Where we’re headed regarding prescription drugs related to the mind
  • Trend trading vs. mean reversion
  • Contextualism
  • Trend following vs. momentum trading
  • How people actually behave vs. how they describe their behavior

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Ep. 238: Larry Hite and Alex Greyserman Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Larry Hite and Alex Greyserman
Larry Hite and Alex Greyserman

My guests today are Larry Hite and Alex Greyserman.

Hite is a hedge fund manager and is one of the forefathers of system trading. He was famously featured in the Market Wizards book. A few years ago he started ISAM with Stanley Fink. Greyserman has 25 years of experience in the CTA industry, and was originally hired by Larry Hite at Mint.

Greyserman is Chief Scientist at ISAM (PhD in Statistics). He is also a professor at Columbia University.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • Singapore, and Covel’s recent excursions in Asia
  • How the game has stayed the same despite zero interest rate policy
  • What people are missing when they say “trend following is dead”
  • How you’ll never get perfection
  • Their 800 year study, the premise, and what was found out
  • Measuring human nature
  • The difference between divergent and convergent strategies
  • Risk management
  • Having “perfect” knowledge
  • Using long trends and getting whipsawed in shorter trends
  • The asset class of trend following compared to the NASDAQ buy and hold, etc.
  • What’s changed about human nature through all the booms and busts
  • Insurance, hedging your risk, and the risk transference process
  • Asymmetrical leverage
  • Adjusting to new environments
  • How those that survive are the most adaptable to the environment
  • How trend following automatically adjusts to what’s happening

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Ep. 237: Sharon Moalem Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Sharon Moalem
Sharon Moalem

My guest today is Sharon Moalem, a physician and author. Moalem’s previous book, “Survival Of The Sickest”, was a New York Times bestseller.

The topic is his book Inheritance: How Our Genes Change Our Lives, and Our Lives Change Our Genes.

In this episode of Trend Following Radio we discuss:

  • Rafael Nadal as an example of digging deep in genetics
  • How our bodies are constantly in a state of deconstruction and reconstruction
  • How DNA is under constant modification
  • Genetic personalized medicine
  • “Jeff the chef” and an example of specific dietary needs
  • Dysmorphology and analyzing the hands, feet, and face of an individual
  • Gregor Mendel and his pea experiments in genetics
  • How your behavior can dictate your genetic destiny
  • The future of personalized genetic medicine
  • Critics and misunderstandings of genetics
  • Vitamins on an individual basis

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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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