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Ep. 568: Steve Burns Interview with Michael Covel on Trend Following Radio

Steve Burns
Steve Burns

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Steve Burns and Michael Covel get together yet again to discuss all that is trading.

After a lifelong fascination with financial markets, Steve Burns started investing in 1993, and trading his own accounts in 1995. It was love at first trade. A natural teacher with a unique ability to cut through the bull and make complex ideas simple, Steve took to blogging and social media by founding New Trader U in 2011.

Since then, New Trader U has attracted hundreds of thousands of visits a month, becoming the go-to resource for people wanting to build a strong, trading foundation. New Trader U offers an extensive blog resource with more than 1,000 original articles (Steve posts daily and is the author of numerous trading books).

In this episode of Trend Following Radio:

  • Trend following
  • Taking a loss
  • Risk management
  • Proper psychology
  • Mindset

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Ep. 364: Simplicity Trumps Complexity with Michael Covel on Trend Following Radio

Simplicity Trumps Complexity with Michael Covel on Trend Following Radio
Simplicity Trumps Complexity with Michael Covel on Trend Following Radio

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An article recently appeared in Forbes, entitled “What Jurassic World Can Teach Investors About The Stock Market”. In it is an interview with Ben Carlson on why simplicity trumps complexity when it comes to investment strategies. Although not explicitly about trend following, the article brings up points about the poor historical performance of financially engineered assets and the superiority of simple systems.

In this monologue, Michael Covel talks about his desire to seek the truth, and the importance of taking personal responsibility for your actions. He also breaks apart the Forbes article on simplicity vs. complexity, and the logical reasons why trend following systems have historically performed better than others.

Also in this episode: the recent study that shows that metal-heads from the 80s are happier and better adapted than their peers.

In this episode of Trend Following Radio:

  • Why simple strategies are better than complex ones
  • The importance of defining your risk as a number
  • How risk and reward are two sides of the same coin
  • Why going for the average is a losing strategy
  • The difference between hiring a financial advisor and an trader

“Financially-engineered assets often fail to perform as their creators intended. Or they are ill-equipped to deal with unanticipated events.” – Ky Trand Ho (Forbes)

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Ep. 362: Speculation Wins Today with Michael Covel on Trend Following Radio

Speculation Wins Today with Michael Covel on Trend Following Radio
Speculation Wins Today with Michael Covel on Trend Following Radio

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Speculation has become a pejorative for some in recent times. A quick search yields the following definition of speculation: “forming a theory about a subject without firm evidence.” Yet if we look at the origin of the word, “speculor” means “to observe” in Latin. To speculate is to observe, and to make decisions based on those observations.

In business and in life, there are ultimately two choices: to speculate or to gamble. The difference between the two is simple: the first has a strategy behind it; the second does not. The first relies on predetermined parameters for making decisions; while the second leaves decisions up to circumstance or emotion.

In this monologue, Michael Covel talks about the philosophical foundation of success: speculation. This episode features many notable quotes from famous economists and traders, going back as far as the 1800s. The wisdom of these men is the foundation of trend following, and is as relevant today as ever.

In this episode of Trend Following Radio:

  • Why speculation is such an important concept
  • The philosophy behind trend following
  • Watching results rather than causes
  • Cutting short your losses
  • Timeless excerpts from as early as the 1800s
  • The early beginnings of Wall Street

“Cut short your losses, let your profits run on.” – David Ricardo

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