Michael Covel talks with Harry Dent in his second visit to the podcast. Dent studies demographic and historic trends to see major events unfolding long before the mainstream media has them on their radar. Dent’s new book is called "The Demographic Cliff". Covel and Dent discuss why demographics are so important; the definition of the "demographic cliff"; demographic comparisons between the US and Asia; rates of urbanization and GDP in emerging countries; the baby boomer generation; the Japanese "coma economy"; why the retirement age needs to be raised; how real estate in America will never be the same; and "die-ers" vs. buyers. For more information on Harry Dent, go to www.harrydent.com. Want a free trend following DVD? Go to www.trendfollowing.com/win.
Michael Covel speaks with Chris Ducker. Chris Ducker is a British businessman, the founder and CEO of Virtual Staff Finder and the Live2Sell Group of Companies. His new book is called "Virtual Freedom". Ducker and Covel discuss the definition of virtual freedom; how Ducker came from the cubicle originally, and how he got to be the location independent entrepreneur he is now; how Ducker became a “virtual CEO”; the idea of a “superhero syndrome”; the idea of a virtual, international staff; the process of finding a VA (virtual assistant); the two types of outsourcing; hiring for the role--not for the task; text, audio, and video communication; Tim Ferriss and the four-hour work week; and developing a location independent lifestyle. Big fan of Ducker and his business acumen (more: www.virtualfreedombook.com). Learn something! Note: Go to www.trendfollowing.com/win for a free trend following DVD.
Michael Covel interviews Russell Napier. Napier is a consultant with CLSA, who Covel had the good fortune to speak for in 2013 in several cities across Asia. Napier is a global macro-strategist. He definitely comes at it from a different trading perspective than trend following. However, from a big picture perspective Covel loves the way that Napier questions the system (a broken system at that). They discuss why the average person will never see an interest for their savings again in their lifetime; how the choice of equities is made for many; how we’re not really in a free-market capitalistic world; why Napier thinks we’re on the eve of a major deflationary period; and how the equity bull market causes people to simply not think (or question). Napier's book is titled "Anatomy of the Bear". Want a free trend following DVD? Go to trendfollowing.com/win.
Michael Covel talks with Bobby Casey on today’s podcast. Casey and Covel met in October 2013 in Singapore. Covel quickly realized he had to have him on the podcast for Casey's travel perspective alone. As an American expat who has moved and lives in Latvia, and who helps others relocate to many different countries, Casey and Covel discuss location independence and ultimately changing your lifestyle into a traveling way. The two discuss how Casey found his way to Latvia; travel in general; some of the issues you may encounter during travel; Lithuania; holding dual citizenship; and the advantages to having a passport from another country. Today, nothing is guaranteed. You must be adaptive. And that may just mean your country will adapt too. Nice perspective and inspiration from Casey. Also, receive a free trend following DVD: www.trendfollowing.com/win.
Michael Covel talks with Barry Schwartz, an American psychologist and author. He is a professor of Social Theory and Social Action at Swarthmore College with books such as “The Paradox of Choice: Why More is Less” and “Practical Wisdom”. Schwartz’s psychological work is right there at the foundation of why any trader or investor will have success (its the foundation of any success for that matter). Covel and Schwartz discuss choice and practical wisdom; choice in selecting a mutual fund, and how Schwartz has seen that unfold in corporations; the paradox of options; having too much choice; democracy and choice; the idea that decision-making has shifted from the expert to the individual; why prescription drugs are marketed to people who can’t buy them outright; if choice drives clinical depression; expectations; the idea of practical wisdom; judgment and discretion in the workplace; wisdom and the education system; having a “script” from your employer that prevents you from thinking outside of the box; the importance of working with like-minded people; and how things have changed since the 2008 financial crisis. Want a free trend following DVD? Go to www.trendfollowing.com/win.
Michael Covel talks with Frank Curzio of Stansberry and Associates. Curzio is the voice behind S&A Investor Radio, as well as the editor of the Small Stock Specialist. Although they have different stances on trading, Covel and Curzio connect on a number of trends. Curzio and Covel discuss the CES (Consumer Electronics Show) and upcoming electronics trends; connectivity; narratives; protecting your downside; the Federal Reserve and the gold market; Netflix, Best Buy, and 4K televisions as a trend; Apple; being on the ground, physically going somewhere, and the importance of being there. Covel saw Curzio present in the fall of 2013 in Singapore and really appreciated his technique of stop lossing his narrative. Want a free trend following DVD? Go to trendfollowing.com/win.
Michael Covel talks with Tom Basso, the trader most famously known as “Mr. Serenity” in Jack Schwager's "New Market Wizards”. Basso, now retired, was a stock and commodities trader who was president and founder of Trendstat Capital Management. He is the author of two books, "Panic-Proof Investing" and "The Frustrated Investor". Basso became a registered investment advisor in 1980, a registered commodities advisor in 1984, and was elected to the board of the National Futures Association in 1998. This is Basso’s third podcast conversation, and Covel and Basso talk about location independence; making sure trading doesn’t take up your entire life; stoicism; trend following in the emotional arena; mental exercises; the psychology of trend following; the “observer self”; the mental aspects of success; the importance of being able to lose small amounts of money; why trend following does so well when the black swans hit; Basso’s daily routine and the importance of routine in daily life. Covel and Basso also go through listener questions such as whether Basso would make the same trading decisions that he did from the start; money management v. trading; tinkering with current systems; knowing when it’s a regular drawdown v. something really going the wrong way; and whether Basso is a one-system kind of guy v. multiple systems.
Note: This original #200 episode has to been updated to include all Basso interviews so far. 4 hours plus!
Today on the podcast Michael Covel speaks to Peter Schiff. Schiff is a businessman, investment broker, author, and commentator. Whether you like him or you hate him, Schiff presents his perspective straight and without compromise. This is a quick conversation that Covel had with Schiff about Federal Reserve policy. Regardless of the part of the political spectrum that you’re on you have to admit that this is a discussion that has to be had. The two talk about QE infinity, expectations and Fed overall policy. Other topics include ZIRP; inflation; real estate; foreclosure; how the stock market keeps people satiated; protecting the value of the dollar; how we can get to effectively negative interest rates; and the way out of QE infinity (if even possible). Want a free trend following DVD? Go to trendfollowing.com/win.
Today on the podcast Michael Covel talks to William Adams. Adams has over 17 years of experience in financial markets and is now based in Zurich, Switzerland. Covel and Adams talk about systematic trading strategies and Adams’ early beginnings to his rise to his position today. Covel and Adams discuss the first time Adams got the “trading bug”; early trading strategies; generating alpha; the strategies that Adams uses today; the “core satellite approach”; why Adams chose options over futures; the seasonality of trades; inspirational resources found by Adams; the influence of Zurich on Adams, and whether or not Americans can learn a thing or two from the Swiss. Free DVD: trendfollowing.com/win.
Today on the podcast Michael Covel talks to world renowned paleontologist Jack Horner. Horner was the technical advisor for all of the “Jurassic Park” films. You might question why Michael Covel would have a paleontologist on his podcast, but the reason is to listen to how Horner thinks. Horner is dyslexic and talks about the process of learning. He uses words like “opportunistic”, “scavenger” and “devil’s advocate”. Same attitude, different field. Outside of the system, against the status quo. Covel and Horner discuss passion; why you’d break open a dinosaur egg rather than hold onto it as precious material; how Horner attributes his way of thinking to dyslexia; the shapeshifting dinosaur hypothesis; “chickasaurus” and the idea of dinosaurs and chickens intersecting; the accuracy of the “Jurassic Park” dinosaurs; whether the T. Rex was a scavenger v. predator; and how Horner came to his way of thinking. More information can be found at www.museumoftherockies.org. Free trend following DVD: trendfollowing.com/win.