May 28, 2013
Michael Covel goes straight for the jugular of organized education on today's podcast. Organized education is broken and the typical university experience is a fraud. Tenured professors make a ton of money, and students are stuck with hundreds of thousands of dollars of debt. The whole situation is vicious, and a student's best hope for a steady job after school is to serve lattes. Millions of people think that if they go and sit through classes at a university for four years, listen to professors who have never made an entrepreneurial dime in their life, that they'll be in a better position to make money. Covel discusses an essay found on oftwominds.com (http://www.oftwominds.com/blogmay13/genX5-13.html) about one specific generation of college graduates. People don't want to talk about this, but the moment the US stock market takes a prolonged dip, that's when the dam will break. Are there alternatives? Yes. With access to the internet, we're in a better place than ever before to educate ourselves. Covel further illustrates his view with excerpts: The first is from entrepreneur David Gilmour, who started Fiji water, extolling the virtues of travel. Next, Covel plays a clip of a TED talk from Ken Robinson, who talks about the connection between education and curiosity--which is the true engine of learning--and the difference between education and learning. Covel notes that it's not about following the rules; it's not about doing what you're told. Automation is eliminating so many blue and white-collar jobs so quickly, there's no hanging on anymore. So where does that leave the college student? The final excerpt comes from Angela Lee Duckworth, who talks about what she thinks the real key to success is: grit. Passion and perseverance for long-term goals; stamina. Sticking with your future, day in, day out. Not just for the week or for the month, but for the rest of your life. Duckworth says that those with grit look at life like a marathon and not a sprint. Covel notes that the idea of grit works perfectly with trend following: it's a marathon. There are ups and downs, but over the long haul trend following grit delivers a healthy mind as well as a healthy wallet. Free trend following DVD? Go to trendfollowing.com/win.