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John Kenneth Galbraith on Euphoric Times

One:

John Kenneth Galbraith noting that in euphoric times, “past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present.”

Two:

Here’s a great observation on the subject from Berkshire-Hathaway’s 2010 letter to shareholders: We agree with investment writer Ray DeVoe’s observation, “More money has been lost reaching for yield than at the point of a gun.”

Shout to Howard Marks for the finds.


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Ep. 536: The Most Important Thing with Michael Covel on Trend Following Radio

The Most Important Thing with Michael Covel on Trend Following Radio
The Most Important Thing with Michael Covel on Trend Following Radio

Subscribe to Trend Following Radio on iTunes

Please enjoy my monologue The Most Important Thing 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:

  • Price action
  • Forecasting
  • Value investing
  • How to think about investing
  • Black swans

“You should not act as though the things that should happen will happen.” – Howard Marks

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

Ep. 398: Investing and Sports Parallels with Michael Covel on Trend Following Radio

Investing and Sports Parallels with Michael Covel on Trend Following Radio
Investing and Sports Parallels with Michael Covel on Trend Following Radio

Subscribe to Trend Following Radio on iTunes

Please enjoy my monologue Investing and Sports Parallels 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:

  • Consistency vs. the home run
  • Quarterly performance
  • Trend following performance
  • Emotion in human nature
  • Irrationality in investing

“The market is made up of people and to beat it you have to know them as well as you know the thing you are considering investing in.” – Howard Marks

“The future ain’t what it use to be” – Yogi Berra

“Consistency and minimization of error has always ranked high among my priorities and they still do.” – Howard Marks

Mentions & Resources:

Listen to this episode:

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

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