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Category: Psychology

Ep. 382: Dissecting Duplicity with Michael Covel on Trend Following Radio

Posted on by Michael Covel

Dissecting Duplicity with Michael Covel on Trend Following Radio

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Please enjoy my monologue Dissecting Duplicity 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:

  • Trend following: a system, not a theory
  • Opinions are worthless without strategy
  • The mainstream media’s continued attacks on trend following
  • No one knows the future – embrace the idea
  • Theories are conjecture
  • Focus on the now – that’s the indicator

“So there is a bubble element to what we see, but I’m not sure the current situation is a classic bubble, because I’m not certain that most people have extravagant expectations.” – Robert Shiller

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Ep. 381: Ben Whately Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Ben Whately
Ben Whately

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My guest today is Ben Whately, a serial entrepreneur and education innovator. While studying Experimental Psychology at Oxford, Ben became fascinated by the ways that our brains learn. After graduating, he moved to Qiqihaer, a remote city in northern China. He is a memory expert and Memrise co-founder.

The topic is memory.

In this episode of Trend Following Radio we discuss:

  • Memory, a composite of previously formed memories
  • How memories are encoded in the brain
  • To the brain, remembering equals imagining
  • How the most effective way to teach is to be entertaining
  • Technology, and how it affects our views on memory

“People have this experience of being taught to memorize something, and the way they’re taught to memorize it is through sheer boredom, when in fact the most effective way to memorize it is to make it entertaining.” – Ben Whately

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Ep. 380: Lessons from Ken Tropin with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Ken Tropin
Ken Tropin

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Please enjoy my monologue Lessons from Ken Tropin 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:

  • Recognizing that without a strategy, you’re at the mercy of the machine
  • Embracing uncertainty
  • Understanding that knowing every market move won’t help without a plan
  • The importance of setting your strategy beforehand
  • Seeing that media personalities are paid to pretend to know all
  • How the principles of trend following apply to other disciplines

“Trend following is one of the most mature and well-established systematic trading styles with a thirty-three year track record of profitability.” – Ken Tropin

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Want to learn more Trend Following? Watch my video here.

Get the foundation to making money in up, down and *surprise markets on the Trend Following mailing list.

Ep. 378: Embracing Failure with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Embracing Failure with Michael Covel on Trend Following Radio
Embracing Failure with Michael Covel on Trend Following Radio

Subscribe to Trend Following Radio on iTunes

Please enjoy my monologue Embracing Failure 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:

  • Understanding that success requires failure
  • Seeing past investment myths
  • Recognizing that no risk means no profits
  • Understanding that there’s no such thing as a perfect strategy
  • Shattering the notion that someone will always take care of you
  • Accepting that there are no guarantees

“I’ve failed over and over and over again in my life. And that is why I succeed.” – Michael Jordan

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Want to learn more Trend Following? Watch my video here.

Get the foundation to making money in up, down and *surprise markets on the Trend Following mailing list.

Ep. 377: Annie Duke Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Annie Duke
Annie Duke

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My guest today is Annie Duke, an author, corporate speaker, and consultant in the decision-making space. As a former professional poker player, Annie won more than $4 million in tournament poker before retiring from the game in 2012. Prior to becoming a professional player, Annie was awarded a National Science Foundation Fellowship to study Cognitive Psychology at the University of Pennsylvania. Annie is the co-founder of The Alliance for Decision Education, a non-profit whose mission is to improve lives by empowering students through decision skills education. She is also a member of the National Board of After-School All-Stars and the Board of Directors of the Franklin Institute.

The topic is trading and gambling.

In this episode of Trend Following Radio we discuss:

  • Focusing on the process instead of the outcome
  • Understanding that it’s about your return, not you winning percentage
  • Recognizing that in investing, consistency is unnatural
  • Thinking probabilistically
  • Maximizing your expectancy
  • Understanding that a loss doesn’t necessarily reflect bad thinking

“When you focus on outcome over process you actually reduce innovation in your company.” – Annie Duke

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Ep. 376: Overcoming Bias with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Overcoming Bias with Michael Covel on Trend Following Radio
Overcoming Bias with Michael Covel on Trend Following Radio

Subscribe to Trend Following Radio on iTunes

Please enjoy my monologue Overcoming Bias 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:

  • The use and misuse of statistics
  • Using skepticism to your advantage
  • The advantages of algorithmic trading
  • Leda Braga on why ‘Black Box’ isn’t a fair term
  • Daniel Dennett’s simplifications of algorithms and computing
  • Trend following as simple agnostic rules that can easily be passed to a computer
  • Efficient market theory failure during surprises

“You want to be a contrarian. You want to be on the other side of the coin. Don’t be with everyone. Stand to the side. That’s where the opportunity is…” – Michael Covel

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Want to learn more Trend Following? Watch my video here.

Get the foundation to making money in up, down and *surprise markets on the Trend Following mailing list.

Ep. 373: Lasse Pedersen interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Lasse Pedersen
Lasse Pedersen

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My guest today is Lasse Pedersen, a finance professor at Copenhagen Business School, principal at AQR Capital Management, and author of the new book “Efficiently Inefficient”. Pedersen earned his Ph.D. in finance from Stanford University and has over a decade of experience in the industry.

The topic is Trend Following.

In this episode of Trend Following Radio:

  • Discretionary vs. quantitative trading
  • The importance of sticking to your financial plan
  • The various investment styles of the successful
  • How reflexivity affects market prices
  • Backtesting to identify effective investment strategy
  • The role of hedge funds

“I think that good quant investment managers can really be thought of as financial economists who’ve codified their beliefs into a repeatable process. They are distinguished by their diversification, sticking to their process with discipline, and the ability to engineer portfolio characteristics.” – Cliff Asness

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