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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.


“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

Mar 16, 2013

Michael Covel starts with an interesting blogpost from a reader quoting Dow theorist Richard Russell. Covel discusses his thoughts on Russell, noting that he saw him speak in San Diego and followed his writings some in 2009-10. Here's the thing: Russell got it all wrong at the time. He was calling for the end of the world and the Dow has gone up--way up. Russell isn't a trend following trader; he was using subjective discretionary technical views on what he thought the markets were doing, would do, and what the government or Fed might do or was doing wrong. Covel shares many of Russell's views about the economy and the Fed; however, his way of thinking about the markets in 2009 and 2010 was the kind of predictive technical analysis that Covel has rallied so much against in recent podcast episodes. Bottom line, if the market's up, you're long; if the market's down, you're short. Trend following is not Elliott Wave, it's not Dow Theory, it's not Gann, it's not anything Tom DeMark is describing. It's price action based and that's it. Covel goes onto discuss the gentleman's blogpost in further detail, and notes how taking hold of data such as trading volume and confirming the Dow and transports together are almost fundamental-like in their approach. From a trend following perspective, all of this is irrelevant. The gentleman's blogpost ends with the phrase the pressure in the market is building, and we may be watching the beginning of the most spectacular stock market blowoff ever. Just before an even more astonishing decline." The operative phrase there is "may be": if you hear a sentence like that, it's not trend following. Covel goes on to discuss more local Malaysian food, Yoga, getting the tar beat out of him in a Thai massage, General Patton, and invites listeners to write in with questions about predictive vs. reactive technical analysis. Covel ends with a clip from famed basketball coach John Wooden at UCLA. He had a brilliant way about himself, inspired many, and Covel notes how Wooden got down into the nitty gritty in coaching--even teaching players how to properly put their socks on so they didn't get blisters. Free DVD?