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Bestselling author Michael Covel is the host of Trend Following Radio with 15+ million listens. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trading -- all passionately explored and debated. Guests include Nobel Prize winners: Robert Aumann, Angus Deaton, Daniel Kahneman, Oliver Hart, Harry Markowitz & Vernon Smith. More guests: Jack Canfield, Howard Marks, 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. 1200+ episodes.

Dec 23, 2013

My guest today is Dan Ariely, a professor of psychology and behavioral economics at Duke. He has given great TED Talks with millions of views. Covel and Ariely discuss irrationality and rationality on today’s show, including how we make decisions (with often poor processes). 

The topic is his book Predictably Irrational: The Hidden Forces That Shape Our Decisions.

In this episode of Trend Following Radio we discuss:

  • The irrationality of fundamentals in equity markets
  • The wisdom of crowds, constraints and where else our money can go
  • The awarding of the Nobel Prize to professor Shiller and Fama--two famed professors with very different outlooks--and whether it’s irrational or not
  • Macroeconomics vs. microeconomics
  • Lessons learned during his life-threatening burns
  • Why people lie
  • Why the freedom to do whatever we want and change our mind is the shortest path to making bad decisions
  • How 2008 became a constructive tool for Ariely
  • Why Bubbles are some of the most imprecise factors out there
  • Ben Bernanke

Jump in!


I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here:

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Hope you enjoy my never-ending podcast conversation!