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 explores new research showing pharmaceutical statins do nothing to help prevent medical problems relating to heart disease–if you have no risks. For years people have believed there was a special pill to save them from high cholesterol. Turns out, there is no special pill to help–exercise, eat well, get adequate sleep–these things are how you improve your health. It’s about personal responsibility. Trust yourself? Or trust the system that has been proven wrong time and time again?

$400 billion dollars has been lost in crypto currencies. Michael shares an example of a man who lost 95% of his $120,000 investment in Bitcoin. When Bitcoin started going down he tried diversifying into other crypto currencies. He said his learning process was like “solving the plot of a murder mystery.” The notion that he could use fundamental data and figure out how to trade Bitcoin was all wrong. Jerry Parker commented on this story by saying, “He should have studied trend following.” Having a stop in place, and looking at the data would have saved him from his financial ruin.

Statins and cryptos connect? You bet.

In this episode of Trend Following Radio:

Big pharma
Statins
Trusting the system
Personal responsibility

Direct download: 696.mp3
Category:general -- posted at: 10:00pm EDT

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