Trend Following with Michael Covel
Bestselling author Michael Covel is the host of Trend Following Radio with 8+ 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 800+ eps at www.trendfollowing.com/podcast.

Michael Covel opens with a mini-monologue about travel including a discussion of his experiences in 2013. Then Michael talks with his guest Fabian Lim. Lim is an entrepreneur based out of Singapore. Covel and Lim discuss life in Singapore generally, and how Singapore has become "the gleaming city on the hill"; Singapore's success despite its lack of natural resources, and how its airport represents the forward thinking found there; Lim's first entrepreneurial ventures; the varied reasons that cause us to become entrepreneurs, and the difference between online and offline entrepreneurs; experience in the context of entrepreneurship, and how it can be used as an excuse; timeframes and getting out of the "employee" mindset; becoming rich, and why it's a choice; classical conditioning, self-limiting beliefs, and breaking the mold to become an entrepreneur; the idea of "failing faster"; the connection between Lim's flight training and entrepreneurship; risk and uncertainty; using simulations to practice; success traits and failure philosophy; and why choice can be the enemy of a successful entrepreneur. Free trend following DVD: trendfollowing.com/win.

Direct download: 176.mp3
Category:general -- posted at: 1:58am EST

Michael Covel talks with Dylan Evans. Evans is a British academic and author. The one subject that really caught Covel’s eye is the idea of “risk intelligence” (see his TED video which is great): expected value, bet sizing, certainty, and process vs. outcome. Evans does a fantastic job of getting at these issues (critical to traders and just about anyone else), and these are the critical issues not only to trading but to life. Covel and Evans discuss expected value, the definition of risk intelligence; optimism bias; correlations between IQ and risk intelligence; the Brandywine Raceway in Delaware and unconscious statistical modeling; probabilities and the nuclear power risk issue; making decisions on uncertain information; the expected value mindset; bet sizing; how luck is always part of the game; knowing when not to bet; the hidden costs of trying to eliminate risk in a system where risk can never be eliminated; and the “calibration test” for risk intelligence. Dylan Evans can be found at projectionpoint.com. Want a free trend following DVD: trendfollowing.com/win.

Direct download: 175.mp3
Category:general -- posted at: 1:55am EST

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