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Ep. 446: Abundant Anarchy with Michael Covel on Trend Following Radio

Abundant Anarchy with Michael Covel on Trend Following Radio
Abundant Anarchy with Michael Covel on Trend Following Radio

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Michael Covel talks political correctness. Americans take regular issues, and blow them up to the extreme. We see it 24/7. In addition, there is massive abundance, arguably a distraction to the freedom to make choices. Is the freedom to make your own choices even real?

Michael reads excerpts from an article by Josh Brown titled, “Abundance.” He makes the case that abundance is now the enemy, which sets our economy apart from every other culture in history. For example, so much entertainment is free these days; movies, video games, apps, dating websites, music, the list goes on. People are taking paid versions of products and producing cheap and free versions. Josh points out that a year ago he was writing about scarcity, now its abundance. We use to have pop culture or a #1 hit TV show or hit band. Now there are 50 different sub cultures and genres.

But abundance is killing us. Josh notes that it would be best if there was a major flush of the system. Capital needs to be exchanged and shifted. The imbalances we are experiencing will inevitably correct and restart, it’s only a matter of when. Michael stresses that you need to have an investment strategy to prepare yourself for that inevitable correction. You need an investment strategy to take advantage of the next crash, as well as save yourself from the next crash.

In this episode of Trend Following Radio:

  • Ego
  • Preparing yourself for the next crash
  • Abundance
  • Downfall of the economy

“Connectivity is giving us a consistency of the like minded.” –Josh Brown

“The only way to save the economy is to crash it. There is too much of everything and it isn’t good for anyone.” –Josh Brown

“Abundance is now the enemy.” –Josh Brown

Mentions & Resources:

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Bill Ackman Feedback; Check the Ego!

Bill Ackman
Bill Ackman

Feedback in:

Michael,

Was on my daily post-trading hike, enjoying your Valeant podcast. As usual this one also very well done! You know, as I was listening it reminded me of an article I read a number of years back about [Bill] Ackman. I couldn’t remember where I read it, or even all the details, but remembered the article discussed this bike ride Ackman took where he was so [!@#$] egotistical I was thinking at the time this guy is gonna blow up some day. He’s the type that just can’t admit he’s ever wrong, and we both know in trading one had to lose at times to win. And then I heard the Podcast. When I came back from the hike I googled Ackman bicycle ride and it came up immediately; was in Vanity Fair.

Keep up the good work!

Best,
[Name]

PS. Something else I wanted to tell you. After enjoying a Tom Basso podcast, [we connected]. Then a few months ago he posted something about the [location] in [location]. I emailed him and mentioned my [location] home is less than a mile from there. He emailed me back and we found out we’re within a mile of each other. Since then we’ve become friends, had dinner with [people] a few weeks ago. Thanks to you for hooking us up.

Very cool on Tom.

Tom coming on my podcast… really set a tone early on and throughout. Next time I am in the States I need to swing through [location].

And great article on Ackman.

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