Michael Covel is the voice behind Trend Following Radio, as well as the bestselling author of <a href="http://trendfollowingbible.com" target="_blank">5 books</a>. His podcast is the underground alternative hit that has reached as high as #2 on iTunes investing channel. It now reaches listeners in 177 countries/territories with 1.8 million listens (May 2014). You can listen for free with three (3) options: <a href="http://itunes.apple.com/us/podcast/trend-following-manifesto/id151217747" target="_blank">iTunes</a>, <a href="http://trendfollowing.libsyn.com/rss" target="_blank">Android</a> and <a href="http://www.stitcher.com/podcast/michael-covel-trend-following-manifesto/trend-following" target="_blank">Stitcher</a>. Ep. 239: Brett Steenbarger (coming!) Ep. 238: <a href="http://en.wikipedia.org/wiki/Larry_Hite" target="_blank">Larry Hite and Alex Greyserman</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/238.mp3" target="_blank">Listen</a> Ep. 237: <a href="http://en.wikipedia.org/wiki/Sharon_Moalem" target="_blank">Sharon Moalem</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/237.mp3" target="_blank">Listen</a> Ep. 236: <a href="http://en.wikipedia.org/wiki/Robin_Hanson" target="_blank">Robin Hanson</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/236.mp3" target="_blank">Listen</a> Ep. 235: <a href="http://en.wikipedia.org/wiki/Harry_Markowitz" target="_blank">Harry Markowitz</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/235.mp3" target="_blank">Listen</a> Ep. 234: <a href="http://en.wikipedia.org/wiki/Ryan_Holiday" target="_blank">Ryan Holiday</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/234.mp3" target="_blank">Listen</a> Ep. 233: Larry Doyle Interview: <a href="http://traffic.libsyn.com/trendfollowing/233.mp3" target="_blank">Listen</a> Ep. 232: <a href="http://en.wikipedia.org/wiki/Tucker_Max" target="_blank">Tucker Max</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/232.mp3" target="_blank">Listen</a> Ep. 231: Covel Monologue: <a href="http://traffic.libsyn.com/trendfollowing/231.mp3" target="_blank">Listen</a> Ep. 230: <a href="https://twitter.com/markminervini" target="_blank">Mark Minervini</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/230.mp3" target="_blank">Listen</a> Ep. 229: William Adams #2 Interview: <a href="http://traffic.libsyn.com/trendfollowing/229.mp3" target="_blank">Listen</a> Ep. 228: Covel Monologue: <a href="http://traffic.libsyn.com/trendfollowing/228.mp3" target="_blank">Listen</a> Ep. 227: <a href="http://en.wikipedia.org/wiki/Justin_Fox" target="_blank">Justin Fox</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/227.mp3" target="_blank">Listen</a> Ep. 226: <a href="https://twitter.com/systemstrader95" target="_blank">Larry Tentarelli</a> #3 Interview: <a href="http://traffic.libsyn.com/trendfollowing/226.mp3" target="_blank">Listen</a> Ep. 225: <a href="http://en.wikipedia.org/wiki/Thomas_Gilovich" target="_blank">Tom Gilovich</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/225.mp3" target="_blank">Listen</a> Ep. 224: Tom Dorsey Interview: <a href="http://traffic.libsyn.com/trendfollowing/224.mp3" target="_blank">Listen</a> Ep. 223: <a href="http://en.wikipedia.org/wiki/Marc_Faber" target="_blank">Marc Faber</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/223.mp3" target="_blank">Listen</a> Ep. 222: <a href="http://dunncapital.com" target="_blank">Martin Bergin</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/222.mp3" target="_blank">Listen</a> Ep. 221: <a href="http://en.wikipedia.org/wiki/Howard_Lindzon" target="_blank">Howard Lindzon</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/221.mp3" target="_blank">Listen</a> Ep. 220: <a href="http://en.wikipedia.org/wiki/Victor_Sperandeo" target="_blank">Victor Sperandeo</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/220.mp3" target="_blank">Listen</a> Ep. 219: <a href="https://twitter.com/behaviorgap" target="_blank">Carl Richards</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/219.mp3" target="_blank">Listen</a> Ep. 218: <a href="http://www.nytimes.com/2014/01/19/opinion/sunday/for-the-love-of-money.html?_r=0" target="_blank">Sam Polk</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/218.mp3" target="_blank">Listen</a> Ep. 217: Covel Monologue: <a href="http://traffic.libsyn.com/trendfollowing/217.mp3" target="_blank">Listen</a> Ep. 216: <a href="http://www.jackschwager.com" target="_blank">Jack Schwager</a> #3 Interview: <a href="http://traffic.libsyn.com/trendfollowing/216.mp3" target="_blank">Listen</a> Ep. 215: <a href="http://www.kingsview.com" target="_blank">Al Abaroa</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/215.mp3" target="_blank">Listen</a> Ep. 214: Covel Monologue: <a href="http://traffic.libsyn.com/trendfollowing/214.mp3" target="_blank">Listen</a> Ep. 213: <a href="http://en.wikipedia.org/wiki/Jonathan_Hoenig" target="_blank">Jonathan Hoenig</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/213.mp3" target="_blank">Listen</a> Ep. 212: <a href="http://en.wikipedia.org/wiki/Daniel_Kahneman" target="_blank">Daniel Kahneman</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/212.mp3" target="_blank">Listen</a> Ep. 211: <a href="http://en.wikipedia.org/wiki/John_Bollinger" target="_blank">John Bollinger</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/211.mp3" target="_blank">Listen</a> Ep. 210: Covel Monologue: <a href="http://traffic.libsyn.com/trendfollowing/210.mp3" target="_blank">Listen</a> Ep. 209: <a href="http://sites.slu.edu/rapachde/" target="_blank">Dave Rapach</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/209.mp3" target="_blank">Listen</a> Ep. 208: <a href="http://en.wikipedia.org/wiki/Ed_Seykota" target="_blank">Ed Seykota</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/208.mp3" target="_blank">Listen</a> Ep. 207: <a href="http://dominicfrisby.com/" target="_blank">Dominic Frisby</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/207.mp3" target="_blank">Listen</a> Ep. 206: <a href="http://en.wikipedia.org/wiki/Harry_Dent" target="_blank">Harry Dent</a> #2 Interview: <a href="http://traffic.libsyn.com/trendfollowing/206.mp3" target="_blank">Listen</a> Ep. 205: <a href="http://en.wikipedia.org/wiki/Chris_Ducker" target="_blank">Chris Ducker</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/205.mp3" target="_blank">Listen</a> Ep. 204: <a href="http://www.financialsense.com/contributors/russell-napier" target="_blank">Russell Napier</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/204.mp3" target="_blank">Listen</a> Ep. 203: <a href="http://ee.linkedin.com/in/bobbycasey" target="_blank">Bobby Casey</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/203.mp3" target="_blank">Listen</a> Ep. 202: <a href="http://en.wikipedia.org/wiki/Barry_Schwartz_%28psychologist%29" target="_blank">Barry Schwartz</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/202.mp3" target="_blank">Listen</a> Ep. 201: <a href="http://www.stansberryradio.com/Frank-Curzio" target="_blank">Frank Curzio</a> #2 Interview: <a href="http://traffic.libsyn.com/trendfollowing/201.mp3" target="_blank">Listen</a> Ep. 200: <a href="http://en.wikipedia.org/wiki/Tom_Basso" target="_blank">Tom Basso</a> #3 Interview: <a href="http://traffic.libsyn.com/trendfollowing/200.mp3" target="_blank">Listen</a> Ep. 199: <a href="http://en.wikipedia.org/wiki/Peter_Schiff" target="_blank">Peter Schiff</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/199.mp3" target="_blank">Listen</a> Ep. 198: <a href="http://www.pecoracapital.com" target="_blank">William Adams</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/198.mp3" target="_blank">Listen</a> Ep. 197: <a href="http://en.wikipedia.org/wiki/Jack_Horner_%28paleontologist%29" target="_blank">Jack Horner</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/197.mp3" target="_blank">Listen</a> Ep. 196: Covel Monologue: <a href="http://traffic.libsyn.com/trendfollowing/196.mp3" target="_blank">Listen</a> Ep. 195: Covel Monologue: <a href="http://traffic.libsyn.com/trendfollowing/195.mp3" target="_blank">Listen</a> Ep. 194: <a href="http://en.wikipedia.org/wiki/Dan_Ariely" target="_blank">Dan Ariely</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/194.mp3" target="_blank">Listen</a> Ep. 193: <a href="http://en.wikipedia.org/wiki/Gerd_Gigerenzer" target="_blank">Gerd Gigerenzer</a> Interview: <a href="http://traffic.libsyn.com/trendfollowing/193.mp3" target="_blank">Listen</a> Eps. 192-1: <a href="http://itunes.apple.com/us/podcast/trend-following-manifesto/id151217747" target="_blank">Go</a> Note: These episodes will all play by clicking on "listen", but they are MP3 files. You may want to "save as" and save each MP3 to your desktop. All episodes on <a href="http://itunes.apple.com/us/podcast/trend-following-manifesto/id151217747" target="_blank">iTunes</a> too.
Ep. 239: Brett Steenbarger Interview with Michael Covel on Trend Following Radio: Synopsis: Michael Covel speaks with Brett Steenbarger. Steenbarger is Clinical Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY. Steenbarger and Covel discuss what a âflow stateâ is, and why itâs important; how Steenbarger has seen flow connect to the trading world, and the importance of matching your level of difficulty and challenge; risk and risk tolerance; the logical and psychological sides to risk; âwhat have you done for me latelyâ attitude for investors; why we donât grow if we stay within our comfort zones; process vs. outcome; the psychological burden of certain fee structures; some of the common characteristics of successful traders; slow thinking, deep thinking, and fast thinking; where weâre headed regarding prescription drugs related to the mind; trend trading vs. mean reversion; contextualism; trend following vs. momentum trading; and how people actually behave vs. how they describe their behavior. For more information on Brett Steenbarger, go to traderfeed.blogspot.com. Want a free trend following video? Go to trendfollowing.com/win. Listen: http://www.michaelcovel.com/2014/05...-with-michael-covel-on-trend-following-radio/
<strong>Synopsis</strong>: Have you noticed with equity markets at all time highs there are starting to be justifications again? It reminds Michael Covel of... The âthis time is differentâ routine. Covel moves on to talk about Timothy Geithnerâs new book, and how Warren Buffett approached him after bailouts. Covel talks about crony capitalism on both sides of the aisle. Rigged markets at all-time highs are not fun. It may feel great at the time, but thereâs a hangover. Covel shifts gears and talks about classical economics. Itâs all about assumptions that become axioms. Covel discusses the Black-Scholes option pricing formula, and how the edges are indeed important. Covel canât predict or tell you when or how, but he can tell you that if youâre in a position with a system to take advantage of price movements, you can benefit on the upside, the downside, and the black swan side. Next, Covel gives an example of someone who was mugged outside of a bar and became a mathematical savant after brain injury. Given these gifts, will he work for Wall Street? There are too many variables to make a prediction, he says. Next, Covel moves onto a TED talk. Heâs thought theyâve always been enjoyable--until now. It turns out the TED operation operates like a cult, as evidenced by a clip from the Joe Rogan podcast. Covel wraps it all back to classical economics--itâs a cult, too. Want a free trend following DVD? Go to <a href="http://trendfollowing.com/win" target="_blank">trendfollowing.com/win</a>. <iframe style="border: none" src="//html5-player.libsyn.com/embed/episode/id/2851151/height/45/width/325/theme/standard/direction/no/autoplay/no/autonext/no/thumbnail/yes/preload/no/no_addthis/no/" height="45" width="325" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> <img src="http://www.michaelcovel.com/wp-content/uploads/2014/05/keep-calm.png" alt="Keep Calm, The Fire Rises" width="550" height="642" class="alignnone size-full wp-image-14426" />
Michael Covel speaks with <a href="http://en.wikipedia.org/wiki/Jean-Philippe_Bouchaud" target="_blank">Dr. Jean-Philippe Bouchaud</a>. Bouchaud is Chairman of the multi-strategy quantitative hedge fund <a href="http://en.wikipedia.org/wiki/Capital_Fund_Management" target="_blank">Capital Fund Management</a> (5B+ AUM) and co-supervisor of the research team. He is a well known authority in the field of Econphysics, co-author of "Theory of Financial Risks and Derivative Pricing", a Professor of Ãcole Polytechnique where he teaches Complex Systems and has his Ph.D in theoretical physics from Ãcole Normale Supérieure. Covel and Bouchaud discuss Bouchaud's physics background and how it collided with the world of classical economics; the Black-Scholes model, and itâs still use; experimenting with simulation; Bouchaud and his colleague's paper, "<a href="http://arxiv.org/abs/1404.3274" target="_blank">Two Centuries of Trend Following</a>"; the efficient market hypothesis; why the existence of trends is one of the most statistically significant anomalies in financial markets; how trends predate trend following; why classical economics has no framework through which to understand "wild markets"; benign randomness vs. wild randomness; accepting uncertainty; and differences between physicists and economists. For more information on Jean-Philippe Bouchaud, visit www.cfm.fr. Complimentary trend following video from Michael Covel: <a href="http://trendfollowing.com/win" target="_blank">trendfollowing.com/win</a>. <iframe style="border: none" src="//html5-player.libsyn.com/embed/episode/id/2859035/height/45/width/325/theme/standard/direction/no/autoplay/no/autonext/no/thumbnail/yes/preload/no/no_addthis/no/" height="45" width="325" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> <img src="http://www.michaelcovel.com/wp-content/uploads/2014/05/jean-philippe-bouchaud.jpg" alt="jean philippe bouchaud" width="534" height="267" class="alignnone size-full wp-image-14461" />