Michael Covel's Trend Following

My guest today is Spyros Makridakis, the Rector of the Neapolis University of Pafos NUP and an Emeritus Professor of Decision Sciences at INSEAD as well as the University of Piraeus and one of the world's leading experts on forecasting, with many journal articles and books on the subject. He is famous as the organizer of the Makridakis Competitions, known in the forecasting literature as the M-Competitions. His calling is to poke holes in the notion that we can forecast with accuracy. The topic is his paper Why Forecasts Fail. What to Do Instead. In this episode of Trend Following Radio we discuss: Known knowns, known unknowns, and unknown unknowns The two main types of uncertainty–"subway" and "coconut" Jim Collins, one of the best-selling business book authors of all time, and why it might not have any use to us Medicine and chance The placebo effect Acceptance of an uncertain world The illusion of control Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Martin Lueck. Lueck holds an M.A. in Physics from Oxford University and currently is the Research Director and President of Aspect Capital. Lueck was originally with Adam, Harding and Lueck Limited (AHL), which he co-founded with Michael Adam and David Harding. At AHL, Martin initially focused on trading system research before taking on responsibility for the further development of the proprietary software language which provided the platform for all of AHL's product engineering and implementation. The topic is Trend Following. In this episode of Trend Following Radio we discuss: Quantitative, systematic styles in action The beginnings of AHL Early coding experiences Early decisions that lead to a completely systematic strategy Diversification What percentage of the educated financial audience grasps the strategies that are used at Aspect Behavioral economics Bringing new potential opportunities into Aspect Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Ryan Holiday, an American author, writer, and marketer. He is the media strategist behind authors Tucker Max and Robert Greene, the former Director of Marketing for American Apparel and an editor-at-large for the New York Observer. The topic is writing a book. In this episode of Trend Following Radio we discuss: Always being in a research mindset Why some people don't take advantage of standing on the shoulders of the giants that came before them To know where you're going and to have a plan when it comes to writing; why it's "all material" The idea of listening to the same song over and over again The "flow" state and its importance in writing The importance of having a purpose in your writing Discipline and commitments Outsourcing and hiring experts for your writing project Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Victor Ricciardi, an Assistant Professor of Financial Management at Goucher College. Professor Ricciardi is a leading expert on the academic literature and emerging research issues in behavioral finance. He is the editor of several eJournals distributed by the Social Science Research Network (SSRN). Ricciardi is also the co-editor of the book Investor Behavior: The Psychology of Financial Planning and Investing. The topic is behavioral finance. In this episode of Trend Following Radio we discuss: Risk perception vs. risk tolerance The affect and the anchoring heuristic Behavioral finance vs. behavioral economics Looking at behavioral finance in the context of specific strategies Behavioral economics in the context of asset bubbles and the popping of asset bubbles Why economic growth does not increase happiness; mindfulness as an assist in the notion of good decision-making; the notion of animal spirits Behavioral school vs. the classical school in academia Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Michael Dever, an American businessman, futures trader, entrepreneur, and author. Dever is the founder and CEO of Brandywine Asset Management, Inc., an investment management firm founded in 1982. The topic is Trend Following. In this episode of Trend Following Radio we discuss: Multiple fundamentally based strategies in a systematic diversified portfolio that trades across more than one hundred global markets; strategy diversification The word "predictable" from Dever's perspective; lack of correlation to other strategies What Dever means by a "not purely quantitative" strategy How and why this particular suite of strategies came to exist The five strategy types Crisis events and black swans The weakness in the multiple strategy return driver set The importance of speculators The fixation on low volatility strategies True portfolio diversification. Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Tim Ferriss, an author, blogger and motivational speaker known for his bestselling books The 4-Hour Workweek, The 4-Hour Body and The 4-Hour Chef. Ferriss is otherwise known as the guy who has revolutionized the idea of writing a book; he has engineered the process of a bestseller. The topic is his TV show The Tim Ferriss Experiment. In this episode of Trend Following Radio we discuss: Why the wrestler Dan Gable is part of Ferriss' drive The "grinding" aspect of wrestling, and how that has played into Ferriss' career The early lessons learned about making a TV show The 80/20 rule Comparisons to the Turtle experiment The idea of getting older, recovery, and athletics Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Tim Price, the London-based Director of Investment at PFP Wealth Management. Price has over 20 years of experience in both private client and institutional investment management. The topic is his blog The Price of Everything. In this episode of Trend Following Radio we discuss: Why the fundamentals are so 'shocking' FDR and the Great Depression Why government taking its hands out of the equation can be the solution in a recession or depression Why savers suffer in silence The three scenarios that occur when you accept that much debt simply cannot be paid back (growth, default, or inflation) The standoff between Germany and Greece, and how the average German might feel today about common currency The lack of outrage of zero interest rate policy Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is K.D. Angle. Angle began trading the futures markets in 1979 and developed his first rules-based trading strategy in 1984. In 1985 he created a newsletter called "The Timing Device" that specialized in making specific trade recommendations in the futures markets. After 1995, Angle retired the newsletter and went into asset management on a full time basis while investing the majority of his time and resources into researching and developing rules-based strategies. The topic is trading the futures market. In this episode of Trend Following Radio we discuss: Angle's father's history, who turned a two million dollar gold investment into a hundred million in just six months, and the lessons learned Whether there was an early trend trading influence beyond looking at Angle's father's career; Angle's experience with Dunn Capital Freedom of location 100% rule-based and systematic trading vs. adding discretionary elements to your system Why the client part of the business is so important Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Please enjoy my monologue Michael Covel Speech and William Ury Interview on Trend Following Radio. This episode may also include great outside guests from my archive. --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

My guest today is Colin Camerer, an American behavioral economist and a Robert Kirby Professor of Behavioral Finance and Economics at the California Institute of Technology (Caltech). Camerer's research is on the interface between cognitive psychology and economics. This work seeks a better understanding of the psychological and neurobiological basis of decision-making in order to determine the validity of models of human economic behavior. His research uses mostly economics experiments—and occasionally field studies—to understand how people behave when making decisions (e.g., risky gambles for money), in games, and in markets (e.g., speculative price bubbles). The topics are cognitive psychology and economics. In this episode of Trend Following Radio we discuss: Why Camerer was called a child prodigy, and how he looks at that term in the context of nurture vs. nature Synthesizing behavioral economics and neuroscience; understanding Camerer's studies when traders aren't looking at the market on a day-to-day basis; how we can stimulate the brain to create a bubble The ethical issues surrounding Camerer's work Machine learning and data mining Neuroscience and game theory Comparing humans and chimps in the study of neuroscience How trust correlates with economic growth How emotion functions in the modern world Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!