“You’ve surrounded yourself with one of the most advanced group of mentors possible…The people on your podcasts, and people in your life, all are people with strong opinions, all people that make you think and make you grow. You just have some kind of an affinity for people like that, and that’s part of what makes you good at what you do.” Ed Seykota, Market Wizard
Michael Covel is the voice behind Trend Following™ Radio. His podcast is the underground alternative hit that has ranked as high as #2 on iTunes investing channel (with 7M+ listens and counting).
Q: Michael, how did this podcast happen? A: During the production of my filminterview skills developed. And after my 4th book I decided on a whim to launch a trading podcast. It has gone far beyond trading to network TV-level-guest diversity. Nobel prize winners on my show? Never expected that, but I embrace it. Check out nice words from the Wall Street Journal:
“Michael Covel’s podcast has had over  million listeners and he’s completed [600+] episodes. He’s probably the most established podcaster on this list—and it shows. Mr. Covel’s podcast is great for those looking for alternative views on the market, those who are tired of hearing the same old stories told on CBNC and other traditional outlets. This is highly recommended if you are looking to expand your mind in investing. Mr. Covel has had some incredible guests, to include multiple Nobel Prize winners and world-famous investors. One of my favorite episodes was when Mr. Covel interviewed Annie Duke, a former professional poker player who has some incredible insights on decision making. Mr. Covel always has me thinking and Annie Duke only amplified my brain-wave activity.”
Michael reads, “Sparks Fly on Wall Street Over Tesla’s Current Valuation: The electric carmaker overtook GM in market capitalization last week. Is this just a bubble – or is battery tech the future?” Michael uses the piece to drive home the point that nobody knows why one stocks price is high or low. All that matters is the price. There is no way to know all of the fundamentals. Bottom line, Tesla stands around $300 a share. It is a waste of time to try and figure out why. Make sure you have your stops in place and enjoy the ride.
Again, appreciate everything. You are a great teacher and mentor. I do not miss a podcast.
My only beef is a compliment. More rants needed. Your last I found very insightful. Uncorrelated returns is of particular interest because our fund has demonstrated miniscule correlation to both indexes and peers. We have run a relatively net short healthcare fund since inception 9 years ago, and have managed to survive and perform. The most difficult task has been differentiating ourselves to potential investors while the entire sector rages higher. Fortunately, the right investors have taken notice and our assets have gone from 50M to 230M in 18 months.
What I found particularly compelling and coincidental about your rant is that we were recently sought out by a huge institution looking to build a book of 10 managers with track records of double digit annual returns with little correlation. That institution is [Name] (did not hear from me). The manager discussed the strategy to us, although not as concise and eloquent as you did in 20 minutes. Would love to see that piece if you have it handy, thanks.
Also, need to make it out to Ho Chi Minh. You sell the single life out there well.
Thanks! Saigon existed in the States as a city? It would be a popular city. Most popular.
Again, your monologues are always the best. How long does it take you to put a thread like that together…I can only imagine. So worth it.
Out of all the impressive cameos on this podcast, Liz Cheval’s on 369 really resonated. To the point I want to include a piece on chrono-centricity in our July investor letter. Do you have her presentation handy? The links on your website no longer work.
Looking forward to shaking your hand some day.
My library has some unique resources in it, but until I figure the best way to deploy it I will not be much help today. Thanks for the nice words on podcast!
Hope all is well. I thought it was only appropriate to connect with you after listening to probably around 100 of your podcasts. I live in Silver Spring and every day on my commute to Exelon (energy company, where I work in Baltimore), I listen to your podcasts.
I am 27-years old now and for the past 4-5 years I have been learning how to trade based on technical analysis and price action. A few years ago, I learned that simple is better in terms of indicators/trade setups and risk management is key to not blowing up my account. My current strategy consists of two general trades; swing trades (buying on pullbacks to long term trend lines) and buying breakouts of consolidations or to new highs. The indicators I use are trend lines (horizontal/diagonal), volume, candlesticks, moving averages as support and resistance and relative strength vs the S&P 500.
After listening to many of your podcasts, the commonalities between the traders and portfolio managers are apparent and have become part of the way I think and part of my rules. I am emailing you for two reasons; firstly, to thank you for all the great podcasts and for giving me a place to hear from like-minded individuals. Secondly, I am trying to find a a mentor to help me find a way to turn my part time hobby/passion outside of work, into a career. Are there any trend following/price action based traders/portfolio managers that you know of in the Washington, DC metro area? Also, if you have some time, it would be great to talk with you.
Have a great weekend Sunday in Asia.
Thanks for the note. Many issues related to mentorship are sprinkled throughout my podcast monologues. Circle back on those. More thoughts on mentorship? The DIY effort seen across Godin blog–is highly recommended.
Michael, In one of your recent podcasts you pointed out Japanese investors and their risk aversion vs. their market’s performance over the past decades. When you next made the accusation that the same thing was happening among Americans you nailed it! It is exactly what is happening here, and, as you pointed out, it goes far beyond just investing in markets. You certainly know how to connect the dots and express them with clarity and passion. I only discovered your podcast a couple months ago but must say that I enjoy your insights and perspective while, alternately, so many other podcasts are so narrowly focused on what the S&P 500 will do in the next day-week-whatever. I find your thinking about how we engage the world around us similar to my own philosophy and will continue to listen and enjoy. Thank you for sharing. Regards,
Deerfield, IL USA
Thanks Steven. Appreciate the kind words.
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