Michael Covel offers a double episode today. First, a recent speech of Covel’s all about trend following. Topics include track records; predictive vs. reactive strategies; quality of life in trading; how Covel got into the world of Trend Following; trading and coding; sophistication vs. automation; trend following performance in 2014; drawdowns in trend following; and trading as a game. Next, an interview with William Ury. William Ury, cofounder of Harvard’s Program on Negotiation, is one of the world’s best-known and most influential experts on negotiation. He has served as a mediator in conflicts ranging from boardroom battles to labor strikes, and from family feuds to civil wars. Covel and Ury’s subject today is negotiation. We’re all negotiating for something: money, love, sex, real estate. In his speech, Covel discusses reactive technical analysis; prediction; why trend following performance in 2014 was so excellent; and the reality of drawdowns. With William Ury, Covel discusses the negotiation with self; Ury’s history with high-stakes negotiations; some of the base human emotions that can be important in negotiations; getting to “yes” with yourself; how Ury became immersed in the world of negotiation; the importance of staying in the present moment. For more information on William Ury, visit williamury.com.