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Ep. 413: Ron Friedman Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Giving Employees the Opportunity to Fail

When your attempt rate is high, each individual failure becomes a lot less significant. A surprising number of instances, it's the only reliable path to success. When you create an environment that tells people you cannot fail, you cannot make any mistakes, what you're doing is implicitly encouraging people to cover up their mistakes when they happen. We don't learn by trying to be perfect. We learn by doing something that's slightly beyond our current skill set and then using the feedback we get on our performance to improve the next time.

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