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Ep. 161: Michael Konik Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Michael Konik
Michael Konik

My guest today is Michael Konik, the author of many books of fiction, non-fiction, and essays. Konik has had a fantastic experience in the world of sports betting, and the parallels between his world and the trend following world are off the charts.

The topic is his book The Smart Money: How the World’s Best Sports Bettors Beat the Bookies Out of Millions.

In this episode of Trend Following Radio we discuss:

  • Similarities between Konik’s world and the Turtle story
  • Konik’s background and how he came into this world of rule-based betting
  • Some of the stories about “Big Daddy” Rick Matthews (fake name for a very high profile individual featured on 60 Minutes), the main character in Konik’s book and the most successful sports wagerer in the world
  • Position limits
  • Konik’s theater background and how it tied in to the experiment
  • Sports betting technique, the line, the Kelly Criteria, and “Big Daddy’s” own line
  • The “brain trust” and how “Big Daddy” led his operation
  • Point spreads
  • Looking for value rather than a favorite home team
  • The importance of a dispassionate outlook
  • The importance of knowing why you place a bet or trade
  • How the brain trust came up with a line better than the other lines out there
  • The importance of injuries in sports betting

Listen to this episode:

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Ep. 159: History’s Greatest Hedge Fund with Michael Covel on Trend Following Radio

Posted on by Michael Covel
History’s Greatest Hedge Fund with Michael Covel on Trend Following Radio
History’s Greatest Hedge Fund with Michael Covel on Trend Following Radio

Please enjoy my monologue History’s Greatest Hedge Fund with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

Listen to this episode:

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

Where Do I Start?

Posted on by Michael Covel

Feedback in:

Thanks so much for taking my email. I was recently pointed to Michael Covel’s podcast while listening to a Stansberry Radio podcast. I’m a touring musician, and these podcasts are what I listen to when I get the late shift to drive the bus! Really keeps my brain thinking. As with most musicians, I have a passion for what I do and have enjoyed the past 20 years doing so. However, the financial hardships that this can bring to a family are evident. My wife and girls have been an incredible help to me, and have supported me in all my escapades. We have had the opportunity to travel the world, and feel really blessed. Now, although I am still touring, I’m looking for a different opportunity for the future. Before moving into music for a career, I worked with in a financial advisory role out of college with a local firm. I obtained all the “needed” certifications to do so. However, looking back, I was nowhere near a place to be giving out financial advice. I was just selling. As I have gotten older, I am truly considering diving back in for the benefit of me and my family. I don’t have much to start with, but have been pouring through material. I have always loved the markets and the work behind the scenes. However, I don’t always understand the entire process. I know that I need to be taught a plan/system and rules to follow to start, but really have no idea where to begin in that. I have been reading everything I can get my hands on as money and time allows including the book about the Turtles. I really feel like this system, once understood, I can stick with. The rules to me do not appear to be hard for my personality type to grasp/hold on to. I like to win… even when a system might take some losses to grow. I guess I am really contacting you all to reach out and ask for some help. I have opened a small trading account with low transaction fees. I’m really starting from scratch and wanted to get your advice on what is the best way to approach things and what steps you would recommend. Thanks again for the time, and for the podcasts and books. I have really enjoyed the experience already. I look forward to hearing your recommendations and advice.

Brian [name]
[name], TX

There is no short answer, but here are some:

1. My books.
2. My training and systems.

Those are the best places to start.

Note: A great benefit to trend following? You don’t have to be glued to a screen. Far from it.

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Don’t Run Against the Wind… Go With the Flow

Posted on by Michael Covel

Feedback:

Hi Michael, A quick note to thank you for the wonderful podcasts (and your books). I’ve been listening to them whenever I go for my runs a few times a week. And in the midst of all the market nonsense, these podcasts (TF-related or not) have kept me sane as I trade trends. TF is like running with the wind which may not come all the time. But when they do come (slow or fast & furious), I make sure I run with it, not against it. It’s easier that way. I sometimes wonder why people run against the wind. Press on with your work!

Warmest regards,
Francis

Thanks Francis!

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Ep. 157: Mike Bellafiore Interview with Michael Covel on Trend Following Radio

Posted on by Michael Covel
Mike Bellafiore
Mike Bellafiore

My guest today is Mike Bellafiore, the co-founder of SMB Capital, a proprietary trading firm in New York City, and SMBU, its trader education company. Bellafiore also writes regularly for the globally popular SMBU blog, where he shares ideas on how to improve trading performance.

The topic is his book The Playbook: An Inside Look at How to Think Like a Professional Trader.

In this episode of Trend Following Radio we discuss:

  • Real rewards to being a successful trader
  • Passion in trading
  • Why professional traders fail
  • Parallels between trading and writing
  • Bellafiore’s history and definitions of “prop trading”
  • Trading short timeframes and intraday trading
  • The “prop desk”
  • Ups and downs in Bellafiore’s career
  • The early history of SMB Capital
  • Bellafiore’s early struggles with his father’s health concerns, his mother’s death, an SEC investigation, and how “The PlayBook” came out of it
  • The ten attributes of a great trader
  • Trading psychology and mindset
  • Personality types and short-term trading
  • Microscalping and swing trading
  • Expertise, flow, and mastery
  • Process vs. outcome
  • Entrepreneurship
  • The importance of coaching
  • The four ways to become great at anything

Listen to this episode:

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Gaining the Entrepreneur Angle

Posted on by Michael Covel

Podcast feedback:

Michael during your most recent podcast with Dan Andrews, he asked you if your listeners would like the entrepreneur angle. The answer is yes. I’m sure a lot of listeners like myself are working hard on making the transition out of the cube. Exposure to inspirational people like Dan is tremendously valuable. Thank you for doing this episode. Please look to bring in similar guests.

Thanks
Brandon

PS you might want to look at Lewis Howes if you are not already familiar with him. Could be a good guest.

Thanks Brandon. Great feedback. Will let Dan know too. Met Lewis briefly before–good idea.

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.

Where To Start in Trend Following…

Posted on by Michael Covel

Feedback in:

Hi Michael Covel, my name is [name] and I graduated from Rutgers University last year with a BA in Mathematics and Economics. I have been following your podcast and have read a couple of your books and am very interested in pursuing a career in trend following. I was always disenchanted with the investment banking paradigm, but really believe in the power of trend following. I have been following the markets for the past 5 years and have invested some of my own money during that time. What are some good ways for a guy just starting out to get his foot in the door in this industry? I believe the experience that comes with working for an experienced trend follower would be invaluable. I look forward to hearing from you soon.

Read Linchpin by Seth Godin.

Read Atlas Shrugged.

Read Jack Schwager’s Market Wizard books.

Read my four books.

Listen to all podcast episodes.

Knock on doors if you want a job.

If you want to be a trend trader? Get a system and start trading.

Short list–lots of advice.

Note: Be prepared to never be hired by a trend trader. Then what? Back to my list. You can also consider other options here.

How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.

Also jump in:

• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us

Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.