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 talks about fear: what scares us and why. What’s scarier: a deadly snake slithering across your path on a hike, or watching a 1000 point drop in the stock market? Covel discusses how there is no way to quantify fear itself. However, there’s a book out: “The Science of Fear”, and Covel quotes from it. Covel also shares his snake eating story from Asia. So what’s the moral of this? The science of fear, Covel’s snake eating story, etc.? Break it down into its component parts. Break it down, and then go live it; do it. The fears that one might have going through the snake scenario are exactly like those going through the markets. You can’t let that fear of losing grab you so that you can’t progress. Look at the opposite side of fear: fear and opportunity exist on either side of the coin. If you don’t think about breaking down trading and investing into its component parts, and figuring out how it works, you’re going to fail. If you hang out with those who make general feel good statements, that’s not breaking it down. Covel’s simple lesson for today: Walk right into the snake, find out how the snake works, take the snake apart, eat the snake (if you have to). That’s how you learn. That’s how you gain confidence. Want a free trend following DVD? Go to trendfollowing.com/win.

Direct download: 181.mp3
Category:general -- posted at: 2:43am EDT

1