Michael Covel's Trend Following

Please enjoy my monologue The Passenger with Michael Covel 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 Dan Ariely, a professor of psychology and behavioral economics at Duke. He has given great TED Talks with millions of views. Covel and Ariely discuss irrationality and rationality on today's show, including how we make decisions (with often poor processes). The topic is his book Predictably Irrational: The Hidden Forces That Shape Our Decisions. In this episode of Trend Following Radio we discuss: The irrationality of fundamentals in equity markets The wisdom of crowds, constraints and where else our money can go The awarding of the Nobel Prize to professor Shiller and Fama--two famed professors with very different outlooks--and whether it's irrational or not Macroeconomics vs. microeconomics Lessons learned during his life-threatening burns Why people lie Why the freedom to do whatever we want and change our mind is the shortest path to making bad decisions How 2008 became a constructive tool for Ariely Why Bubbles are some of the most imprecise factors out there Ben Bernanke 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 Gerd Gigerenzer, the director of the Max Planck Institute for Human Development in Berlin, and a former professor of psychology at the University at Chicago. Gerd is also the director of the Harding Center for Risk Literacy (read David Harding the head of trend following firm Winton Capital). The topic is heuristics. In this episode of Trend Following Radio we discuss: Uncertainty Comparing decisions to baseball (gaze heuristic) Complex problems and simple solutions Using price action as a decision making cue Unconscious heuristics The art of knowing what one doesn't have to know The less is more effect The miracle on the Hudson River a few years ago as a case in point illustrating heuristics The idea of an adaptive toolbox The element of surprise in Gigerenzer's work The distinction between risk and uncertainty Intuition vs. rationality 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 Dan Collins, a 25-year veteran of the Futures industry, founder of the Dan Collins Report, and most recently was named Editor-in-Chief of Futures Magazine. The topic is trading. In this episode of Trend Following Radio we discuss: Why the mainstream media seems to not even attempt to hide the bias and the propaganda against the styles and types of trading in the worlds that Covel and Collins occupy (i.e. trend following, systematic, managed futures, etc.) A particular Bloomberg article which attacked managed futures and alternative strategies Why articles like these are an attack on the average investor 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 Eric Crittenden, a Founding Partner responsible for managing all research, risk quantification and trading operations. He's also been featured in Covel's own Little Book of Trading. The topic is a white paper that was originally released in 2005 that concerns trend following on stocks. In this episode of Trend Following Radio we discuss: The decision to do research into trend following on equities, and the background behind the white paper Why others weren't trading equities with a trend following strategy at the time, and why there's been a sea change in the industry now Stress tests How Critenden's models and datastreams apply to a model If Crittenden sees anything on the horizon that takes trend following on equities in a suboptimal direction, and where he sees it going in the future Whether Crittenden's work is all price driven and all systematic The amount of human judgment involved in Crittenden's strategy Why this strategy works if it's based on inefficiencies in the market, and Eugene Fama just won a Nobel Prize regarding the markets being efficient Why exposure management is more important than the entries and exits themselves The importance of blocking out distractions. 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 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 Kathy Kristof, editor of SideHusl.com, is an award-winning financial journalist, who writes regularly for Kiplinger's Personal Finance and CBS MoneyWatch. She's the author of Investing 101, Taming the Tuition Tiger and Kathy Kristof's Complete Book of Dollars and Sense. The topic is finance. In this episode of Trend Following Radio we discuss: If we have bubbles, and we keep having bubbles, what does the average investor do? The difficulty of trying to figure out value today The impact of interest rates on investors; the "nervousness" of stocks Government intervention and trust Why investors are better off with a "softer" job market, and a slower recovery Why we have a "Goldilocks" economy, and what might happen if a black swan swoops in Why almost every strategy will have good results at some time or another, and the importance of picking a strategy for yourself Technology, and the connection to entrepreneurial pursuits 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 Hendry, Harding, The Pope and Acroyoga with Michael Covel 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 Charles Faulkner, an author, trader, and international expert on modeling the knowledge and performance of exceptional individuals. He was originally featured in "The New Market Wizards" by Jack Schwager. The topic is trading psychology. In this episode of Trend Following Radio we discuss: Behavior, emotions, decision-making, and intuition in the world of money--and what money does to us on a biological level Neurolinguistic Programming How money in the mind influences money in the world The schizophrenic-seeming handout to the two recent Nobel Prize winners "System one" and "system two" How "one" is running all the time, how "two" takes effort--and where Faulkner hopes to take this research How experience can teach "system one" New lightbulb moments in current research How the "afraid to lose" (or in Singapore, Kiasu) concept could be terribly dangerous when applied to money Why the less you know about something, the clearer the image--and the more certain you are that it's real and true The need for certainty Money as a living metaphor; sunk costs The Myers-Briggs instrument Rituals and money 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 Mikael Stenbom, the CEO and founder of RPM, which is an advisory consulting firm in Sweden. They advise, consult, or manage over 3.5B AUM. Stenbom has had tremendous experience in understanding strategy and the money management side of the CTA/managed futures world. The topic is CTA's. In this episode of Trend Following Radio we discuss: Stenbom's early influences Stenbom's economics background Connections between economics, trading, and sociology The Austrian school of economics His style of responsive, systematic trading to new clients Andrew Lo's Adaptive Markets Hypothesis The process of rebranding Stenbom's firm in 2008 The "politically infected" investor The cultural compatibility between Nordic countries and the Japanese 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!