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Bestselling author Michael Covel is the host of Trend Following Radio with 10+ 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.

Nov 17, 2014

My guests today are Doug Casey and Charles Hugh Smith.

Casey is the founder and chairman of Casey Research, a provider of paid subscription newsletter services espousing libertarian viewpoints as the justification for the purchase of highly speculative microcap stocks, precious metals, and other investments.

Smith is an American writer and blogger. He is the chief writer for the site “Of Two Minds”. Started in 2005, this site has been listed No. 7 in CNBC’s top alternative financial sites. Smith’s economic works stress the value and efficacy of decentralizing power and wealth, the individual’s power of self-determination and the value of community, which in his view has been diminished by the state. 

The topics are state power and central planning.

In this episode of Trend Following Radio we discuss:

  • Casey and Covel discuss what it’s like having traveled to over 175 countries and where one can find social and economic liberty today in this world; the advantages of being a perpetual tourist; why Casey describes himself as an anarchist; if whether there is a purpose anymore to voting in the United States of America; loyalty to the country where you were born; those who rule out the possibility of a financial panic in the future; quantitative easing and currency debasement; and what was the trigger for Casey’s turn at life as a global traveler.
  • Smith and Covel discuss how winners and are being selected by the state as exemplified by the 2008 financial crisis; alliances between corporations and the state; why there might be an uproar if equity markets were not at all-time highs; what happens when the typical wage earner can no longer substitute debt for earned income; stagnant wages and tradable labor; building your life around non state controlled opportunities; the decentralization of power and wealth; and the reliance on secrecy in politics to avoid accountability.

Jump in!

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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: https://www.trendfollowing.com/trend/

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Hope you enjoy my never-ending podcast conversation!