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Bestselling author Michael Covel is the host of Trend Following Radio with 9.5+ 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.

Praise:

“Your questions were excellent questions. I enjoyed this very much.”

--Vernon Smith, Nobel Prize in Economics

“You’ve surrounded yourself with one of the most advanced group of mentors possible…The people on your podcasts, and people in your life, all are people with strong opinions, all people that make you think and make you grow. You just have some kind of an affinity for people like that, and that’s part of what makes you good at what you do.”

--Ed Seykota

“Michael Covel’s podcast has had over [9.5] million listeners and he’s completed [900+] episodes. He’s probably the most established podcaster on this list—and it shows. Mr. Covel’s podcast is great for those looking for alternative views on the market, those who are tired of hearing the same old stories told on CBNC and other traditional outlets. This is highly recommended if you are looking to expand your mind in investing. Mr. Covel has had some incredible guests, to include multiple Nobel Prize winners and world-famous investors. One of my favorite episodes was when Mr. Covel interviewed Annie Duke, a former professional poker player who has some incredible insights on decision making. Mr. Covel always has me thinking and Annie Duke only amplified my brain-wave activity.”

--Wall Street Journal

Oct 26, 2015

On today’s episode of Trend Following Radio Michael talks about one of his favorite subjects: baseball and numbers. He profiles arguably one of baseball’s greatest managers, Earl Weaver of the Baltimore Orioles. Weaver believed that baseball, just like trend following, always came back to numbers. He knew the right formula was the 3-run home run.

Coincidentally, Covel’s favorite team growing up was the Orioles. They were one of the “it” team in the 1970s and early 1980’s. Unknown to most, Earl Weaver, the Orioles manager, had a strategy that was a foundation for the book (and later turned Hollywood movie) “Moneyball”. His approach to building a winning team not only applies to baseball, but also to many other aspects of life, including trend following.

Covel plays a clip about Weaver, profiling how he operated and changed the mentality of how to put together a baseball team. Focusing on every “out” was at the very core of his strategy. He looked at the whole arc of the game rather than just the beginning, middle or end. Weaver had a plan for every individual player on his team.

Weaver is just as responsible for Covel’s trend following mindset as some of the most successful trend following traders he has met. He showed that home runs win and pay for mistakes. Ask yourself: “How can I put myself in the position to capture the next home run?” That doesn’t mean to be reckless. The podcast ends with a classic Earl Weaver clip that throws a few “F” bombs around. Listener discretion is advised.

In this episode of Trend Following Radio:

  • Trend following as a numbers game
  • Earl Weaver’s Moneyball legacy
  • Why homeruns pay for the losses
  • Consistency as an illusion
  • Trading is/as a game
  • Know your strategy and stick with it