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Ep. 51: Charles Faulkner Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Charles Faulkner
Charles Faulkner

Market Wizard Charles Faulkner makes his 2nd appearance on the podcast:

My guest today is Charles Faulkner, a trader, mentor and author who has been featured in Jack Schwager’s “Market Wizards” series. Faulkner is an international expert on modeling the knowledge and performance of exceptional individuals, teams and organizations, and applying the latest research in cognitive neuroscience and linguistics.

The topic is his book Higher Level Trading: The Five Stages to Trader and Investor Mastery.

In this episode of Trend Following Radio we discuss:

  • Faulkner’s idea of “system one” and “system two” – a dual-process theory of how the brain works – and how it relates to trading
  • Herding, bubbles, and panics and how they relate to “mirror neurons”, group think, and sheep behavior
  • The idea of making sense of the world through our bodies (and how this might be relevant to trading)
  • Neurolinguistics (the relationship between the neurology of the brain and the language we use)
  • How our brains crave stories (and how we have to be careful how we use them)
  • The importance of using money to buy experiences over objects

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“The podcasts help…to inspire, educate and reinvigorate my ‘animal spirits’ as I ride the bucking bronco each and every day.”

Posted on by Michael Covel

Feedback in:

Michael: I wanted to reiterate my ongoing appreciation for your passionate pursuit of trend following. The podcasts help a great deal and they serve to inspire, educate and reinvigorate my “animal spirits” as I ride the bucking bronco each and every day.

Recognizing a free market is not a free lunch, and that your generous and copious free content must be supported, I bought kindle versions of Trend Commandments and The Little Book during the past month. They occupy space with Reminiscences of a Stock Operator*, The Capitalist Spirit by Yale Hirsch and Morales & Kacher’s book Trade Like an O’Neil Disciple. (*The Jon Markman version is a great edition of this trading classic, offering deep historical context throughout the entire book.)

In fact, the very first kindle book I purchased was a new edition of Trend Following, putting the “smart” into my smart phone. 🙂

Whenever new editions come out, of course, they will be purchased.

It all began with email back in 2003 or so. That first tuition seemed “pricey” but I have made (and lost and made) multiples of that over time. The real tuition was the time spent putting the lessons into practice.

Thank you again for the spark, for I shall keep the fire burning bright and hot.

Best,

Edward

Thanks Edward!

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. 49: David Cheval Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
David Cheval
David Cheval

My guest today is David Cheval. Cheval was an inside witness to Richard Dennis and Bill Eckhardt’s famed Turtle experiment. Through the involvement of his former wife, famed original TurtleTrader Liz Cheval, David Cheval’s history and background for the Turtle story comes from a unique vantage point.

The topic is Turtle Trading.

In this episode of Trend Following Radio we discuss:

  • Events surrounding the Turtle experiment, including his own interesting part in alerting his former wife to the opportunity (he is still an investor in her firm)
  • Cheval’s progression from a runner on the Chicago pits, to the formation of his CPO (Dearborn Capital Management), to his career in law today
  • The presence of Richard Dennis on the Chicago Board of Trade in the years prior to the Turtle experiment
  • Some of the lessons that can be gleaned from some of the most successful Turtles
  • The difference between volatility and risk
  • Why basic trend following philosophies are timeless

Listen to this episode:

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Ep. 48: Michael Gibbons Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel

 

Michael Gibbons
Michael Gibbons

My guest today is Michael Gibbons, a market timer (otherwise known as a trend following trader) who runs a firm called Gibbons Trading. Gibbons started as an economics major and quickly realized that much of what he was taught in academia didn’t add up. He has been trading since 1971, and was one of the first to discover what is now known as stock index arbitrage. He was one of the first to use computerized trading and currently provides his proprietary research primarily to large traders and hedge funds.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

  • How Gibbons started in the markets
  • The fallacies of buy & hold and fundamental analysis
  • Trading prices apart from everything else (and how this is close to playing the market like a video game, i.e. pong)
  • The problem of when the media is simply “making things up”
  • How trading can be primarily psychological
  • The problems of the efficient market hypothesis (EMH) and academia
  • The benefits of having a trend following strategy during chaotic times; the danger of gurus
  • Separating your ego from your trading

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Ep. 46: Ralph Vince Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Ralph Vince
Ralph Vince

My guest today is Ralph Vince. Vince is by profession a computer programmer writing analytical programs for funds, large traders and professional gamblers. He is the author of five books on investing in his field of expertise, portfolio management and portfolio/trade optimization.

The topic is trading.

In this episode of Trend Following Radio we discuss:

  • Optimal bet sizes
  • Whether Ed Thorp’s work and the Kelly criteria had any effect on Vince’s work
  • The importance of knowing the optimal spot depending on your criteria
  • Why maximizing profits can result in a large drawdown – and why you should be happy about that
  • If diversification really does give you a free lunch
  • The importance of learning the wrong approach

Listen to this episode:

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Ep. 45: Howard Getson Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Howard Getson
Howard Getson

My guest today is Howard Getson, an entrepreneur and president & CEO of Capitalogix. Getson is an associate of Stendahl. Getson has a degree in psychology and philosophy from Duke University, an MBA and law degree from Northwestern, and has practiced corporate law. Getson is running a hedge fund today as well as a quant research shop, and he’s in the business of systematically finding edges through all sorts of different approaches – not only trend following. Getson started his first business in the sixth grade, and he has always had the mind of an entrepreneur.

The topic is entrepreneurship.

In this episode of Trend Following Radio we discuss:

  • Getson’s legal background and how being a practicing corporate attorney influenced his trading and other business practices – as well as how a diverse background can help
  • “E-gene”, and how entrepreneurism is at the core of what both Getson and Covel practice
  • How hunches can be dangerous
  • Turning your hobby into your business
  • Recognizing patterns
  • The “three levels of mastery” – cognitive, emotional, and physical
  • How minimum standards can define your life
  • How systematic trading can define your minimum standards
  • Controlling emotions through automation
  • Importance of travel with a focus on Southeast Asia in particular and why this area of the world is so important to keep an eye on

Listen to this episode:

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Rickson Gracie, Malcolm Gladwell, The Turtles (Band) and the Pixies All to Make Trend Following Connections

Posted on by Michael Covel

Episode #22 of my monologue series is live on the podcast–listen on iTunes. Also:

Do I get some props for bringing Rickson Gracie, Malcolm Gladwell, The Turtles (Band; their biggest hit) and the Pixies into the same episode?

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.