Trend Following with Michael Covel
Bestselling author Michael Covel is the host of Trend Following Radio with 7+ million listens. Investments, economics, decision-making, human behavior & entrepreneurship--all passionately explored. Guests include Nobel Prize winners Robert Aumann, Angus Deaton, Daniel Kahneman, Harry Markowitz & Vernon Smith. Also: James Altucher, Dan Ariely, Jean-Philippe Bouchaud, Kathleen Eisenhardt, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Tucker Max, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams. All 600+ eps at www.trendfollowing.com/podcast.

Michael Covel talks with Jerry Parker on his second visit to the podcast. Parker is a trend following trader with over 25 years of experience. His firm is Chesapeake Capital and he was featured in Covel's book "The Complete TurtleTrader." Among many topics, in a Market Wizards/Charlie Rose interview style, Covel and Parker discuss fitness; the Hindenburg "omen"; objective entry/exit criteria; why you'd stay in a long position that you wouldn't want to enter into today; the "oversleeping" hypothetical; the idea that reducing volatility increases risk; definitions of volatility and risk; Parker's thoughts on trend followers not really having drawdowns in the typical sense; "managed futures" and why investors may not want that vs. "trend following"; definitions of "managed futures" and "trend following"; why managed futures isn't a good term for some. Note: this is the first in a new series with Parker. Free trend following DVD: www.trendfollowing.com/win.

Direct download: TrendFollowingManifesto081413.mp3
Category:general -- posted at: 4:45pm EDT

Michael Covel speaks with Rolf Dobelli. Dobelli is a Swiss novelist, writer, and entrepreneur. He's the author of the best-selling "The Art of Thinking Clearly". There can be no greater objective for the population as a whole these days than to think clearly. Covel and Dobelli discuss availability bias; statistics; the sunk cost fallacy; the difficulty of logical thinking; authority bias and outcome bias; process vs. outcome; the irrelevancy and "white noise" of news; information overload; neomania and the obsession with the "new"; Nassim Taleb, outliers, and the black swan; J.P. Morgan, banks, and looking behind the facade; why watching and waiting is torture for people (the action bias); the idea that "the boat matters more than your rowing"; the paradox of choice, closing doors, and settings fire to ships; the "it will get worse before it gets better" fallacy and stop loss; and applying these lessons to daily life. Free trend following DVD: trendfollowing.com/win. Note: I am aware of the Taleb controversy. Two links to consider: http://www.fooledbyrandomness.com/dobelli.htm and http://www.dobelli.com/the-taleb-problem.

Direct download: TrendFollowingManifesto081513.mp3
Category:general -- posted at: 2:09am EDT

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