My guest today is Russell Napier, a consultant with CLSA, who Covel had the good fortune to speak for in 2013 in several cities across Asia. Napier is a global macro-strategist. He definitely comes at it from a different trading perspective than trend following.
The topic is his book Anatomy of the Bear: Lessons from Wall Street’s Four Great Bottoms.
Why the average person will never see an interest for their savings again in their lifetime
How the choice of equities is made for many
How we’re not really in a free-market capitalistic world
Why Napier thinks we’re on the eve of a major deflationary period
How the equity bull market causes people to simply not think (or question).
In this episode of Trend Following Radio we discuss:
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My guest today is Barry Schwartz, an American psychologist and author. He is a professor of Social Theory and Social Action at Swarthmore College. Schwartz’s psychological work is right there at the foundation of why any trader or investor will have success.
The topics are his books The Paradox of Choice: Why More is Less and Practical Wisdom: The Right Way to Do the Right Thing.
In this episode of Trend Following Radio we discuss:
Choice and practical wisdom
Choice in selecting a mutual fund, and how Schwartz has seen that unfold in corporations
The paradox of options
Having too much choice
Democracy and choice
The idea that decision-making has shifted from the expert to the individual
Why prescription drugs are marketed to people who can’t buy them outright
If choice drives clinical depression
Expectations
The idea of practical wisdom
Judgment and discretion in the workplace
Wisdom and the education system
Having a “script” from your employer that prevents you from thinking outside of the box
The importance of working with like-minded people
How things have changed since the 2008 financial crisis
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My guest today is Frank Curzio of Stansberry and Associates. Curzio is the voice behind S&A Investor Radio, as well as the editor of the Small Stock Specialist.
The topic is markets and investments.
In this episode of Trend Following Radio we discuss:
The CES (Consumer Electronics Show) and upcoming electronics trends
Connectivity
Narratives
Protecting your downside
The Federal Reserve and the gold market
Netflix, Best Buy, and 4K televisions as a trend
Apple
Being on the ground, physically going somewhere, and the importance of being there
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My guest today is Tom Basso, the trader most famously known as “Mr. Serenity” in Jack Schwager’s “New Market Wizards”. Basso, now retired, was a stock and commodities trader who was president and founder of Trendstat Capital Management. He is the author of two books, “Panic-Proof Investing” and “The Frustrated Investor”. Basso became a registered investment advisor in 1980, a registered commodities advisor in 1984, and was elected to the board of the National Futures Association in 1998.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
Location independence
Making sure trading doesn’t take up your entire life
Stoicism
Trend following in the emotional arena
Mental exercises
The psychology of trend following
The “observer self”
The mental aspects of success
The importance of being able to lose small amounts of money
Why trend following does so well when the black swans hit
Basso’s daily routine and the importance of routine in daily life. Covel and Basso also go through listener questions such as whether Basso would make the same trading decisions that he did from the start
Money management v. trading
Tinkering with current systems
Knowing when it’s a regular drawdown v. something really going the wrong way
Whether Basso is a one-system kind of guy v. multiple systems
In this episode of Trend Following Radio:
How to use mental exercises to improve yourself as a trader
Why the tolerance for losing small amounts of money can make you almost invincible
Tom’s daily trading routine: how to ensure you don’t spend the whole day making trading decisions
Why understanding strategic planning is key to being a successful trader
Trading for clients vs. trading for yourself, and the regulations that go along with that
Understanding the difference between a normal draw down vs. something really going wrong
Separating facts from opinions, and why it’s important in trend following trading
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If there ever was a poster child for why trend following will never get too big it’s Peter Schiff. His stubbornness is legendary. He’s never wrong in his own mind even though a lot of his predictions(higher interest rates, lower dollar and hyperinflation) haven’t panned out. His housing bubble prediction panned out big time but he still didn’t make a lot of money because things like commodities and gold stocks collapsed.
He’s basically why I stumbled upon trend following. I realized that experts often didn’t know what is going on and neither did I. If Schiff can’t predict what’s going to happen and not make a lot of money what does that mean for the rest of us? If the government can spend so much money and commodities can still collapse there must be more to investing than most of us can understand. Hence trend following.
Thanks
A
Trading was not the point of that conversation. That was clear.
My guest today is Peter Schiff, an American stock broker, financial commentator, and radio personality. He is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut.
The topic is Federal Reserve policy.
In this episode of Trend Following Radio we discuss:
QE infinity, expectations and Fed overall policy
ZIRP
Inflation
Real estate
Foreclosure
How the stock market keeps people satiated
Protecting the value of the dollar
How we can get to effectively negative interest rates
The way out of QE infinity (if even possible)
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My guest today is Jack Horner, the world renowned paleontologist. Horner was the technical advisor for all of the “Jurassic Park” films. He is most famous for discovering and naming Maiasaura, providing the first clear evidence that some dinosaurs cared for their young.
The topics are dyslexia and the process of learning.
In this episode of Trend Following Radio we discuss:
Passion
Why you’d break open a dinosaur egg rather than hold onto it as precious material
How Horner attributes his way of thinking to dyslexia
The shapeshifting dinosaur hypothesis
“Chickasaurus” and the idea of dinosaurs and chickens intersecting
The accuracy of the “Jurassic Park” dinosaurs
Whether the T. Rex was a scavenger v. predator
How Horner came to his way of thinking
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