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Ep. 452: The Seduction of Fundamentals with Michael Covel on Trend Following Radio

The Seduction of Fundamentals with Michael Covel on Trend Following Radio
The Seduction of Fundamentals with Michael Covel on Trend Following Radio

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Michael Covel breaks apart Bill Ackman and Valeant Pharmaceuticals. He reads from a MarketWatch article that highlights documents that came from a Senate committee investigating the Valeant scandal, and the various reactions of top people involved. Michael also outlines and comments on various interchanges between Bill Ackman, Warren Buffett, Charlie Munger, and news outlets.

This episode is a “behind the curtain look” at billionaire traders and the seduction of fundamentals.

Just a little attitude in this episode…

In this episode of Trend Following Radio:

  • Fundamentals
  • Valeant vs. Enron
  • The Deep State
  • Fixing the media
  • Trading off price

“You have to fight back with intelligence. You have to fight back with smarts. You have to fight back with a good strategy. You can’t just sit there and accept what the system gives you because the system is going to give you exactly what it wants to give you.” – Michael Covel

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Mike Lofgren and The Deep State Podcast Feedback

Trend Following Radio feedback:

Hi Michael,

I finished up listening to your podcast with Mike Lofgren on “The Deep State” and felt the urge to just thank you for a very interesting, informative, provocative, but essential discussion. Ironically, the issues you discussed are standard dinner table topics for me and my family (I’d consider ourselves different from the norm in a good way). Unfortunately, today’s farrago of reality TV shows, sports, and social issues have become red herrings to the more important topics. Why discuss the vexing and complicated issues when we can just talk about the Kardashians or whether bathrooms should be genderless?… At any rate, look forward to more discussions on your podcast.

PS: I have also been working in investments for a couple years but would could consider myself a “new” trader. At the end of your podcast you mentioned you’d send some trend following steps. I currently use a nuanced Tom Demark Indicator system, but I’m always open to learning something new.

Thanks again,


The Deep State
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