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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

May 4, 2018

Roy Baumeister is a social psychologist known for his work on the self, social rejection, belongingness, sexuality, sex differences, self-control, self-esteem, self-defeating behaviors, motivation, aggression, consciousness, and free will. Roy has also authored over 20 books throughout his career. He likes to start his research with the premise that he doesn’t know the right answer–trying to have an open mind and clean slate.

Roy started his career studying the idea of self-control. He looked at some of the major crutches people deal with–dieting, quitting smoking, controlling emotions. Roy found that everyone has a limited amount of energy and using that energy toward will power had a limited source of regulation. When people used their energy toward gaining self control in one area, they lost it in another. One way Roy found to boost energy and restore self control in patients was to give a patient glucose. It seemed to restore self-control in the patient, giving them a boost of energy.

Roy also has studied differences in people with high self-esteem as opposed to those with lower self-esteem. Improving self esteem didn’t seem to help make life better or lead to later success but improving self control did. Working on self control was shown to be more important for success than IQ or self esteem. Asian countries, for example, have much more discipline built into their culture than American culture. Roy’s studies have shown that Asians therefore require a lower IQ to be successful because their self control overpowers other inhibitors.

Michael and Roy finish their conversation talking sex. Is it more nature or nurture? Roy has found that female sexuality is more cultural and male sexuality is more nature. Do sex norms change based on female to male ratios? Yes. When you look at populations where there is an un-equal amount of men to women and visa versa the desire for one sex to acquire the attention of the other sex is shifted. Standards are lowered/heightened. Michael includes a 30 minute bonus presentation from Roy expanding on the topics discussed on today’s podcast.