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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

Dec 18, 2015

Today on Trend Following Radio Michael interviews Dave Huss. Dave discusses his transition from marketing consultant to entrepreneur. Formerly Dave did consulting work for paid advertising and now has transitioned into t-shirt design and sales (Michael notes that famed trader Salem Abraham had considered the t-shirt business before trading). He has been able to grow his business quickly due to a website called www.teespring.com. This website allows him to order shirts on-demand without any out of pocket expenses.

Dave comes at t-shirt sales in a trend following manor. One out of every ten shirts that he puts out will be a big winner. He makes it clear that it is very important he has a system. He limits his cost to $20 per shirt for advertising. If he doesn’t get a positive response from his $20 advertising push then he stops. He lets the market decide which t-shirt designs are worth pursuing. He has put out 500+ designs just this year. Six out of ten times he sells zero shirts. Three out of ten of those shirts sell 20 or 30 units and he breaks even, but one out of ten shirts will sell over 1,000 units. He never knows which will be the home run and which designs are going to be the duds.

Dave stresses how online marketing has become more and more a part of our lives. You have to participate in online marketing if you are going to have any kind of business these days. You find your most passionate fans in your business and hit them at the right time. You can’t put your head in the sand and think your business is going to make it.

In this episode of Trend Following Radio:

  • Contract work vs. Entrepreneur
  • Niche markets
  • Online marketing
  • Importance of a system
  • Survivorship bias