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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

Jun 25, 2013

Today's episode is an emotional rescue, so to speak. We don't think about it regularly when it comes to our money, but understanding our emotions is core to investing. Those emotions tie right into when you buy and when you sell. If you think you're going to become a successful trader without obliging the emotional side of the coin, you're wrong. First, Covel talks about the idea of multitasking, discussing an article called "Don't Multitask, Your Brain Will Thank You". Research shows that chronic multitasking can have long-term effects on your brain's functioning. Applied to trading what if instead of the chronic multitasking associated with fundamental analysis you could just focus on one thing? What if you could just reduce it all into something simple to digest? That's where trend following makes sense. Covel moves on and gives an example of a doctor friend who is confused with current markets. Related to that, Covel also discusses an article in the Wall Street Journal by Brenda Crane. There has to be a new way of looking at the investing landscape that can provide some sort of "emotional rescue". Covel moves on to another Wall Street Journal article titled "The Cold Truth About Emotional Investing" and the idea of the "fantastic object", as well as a clip from NPR on behavioral finance. So once you have this understanding that we're facing this multitasking hell, we need a way to decipher the hieroglyphics of the market, i.e. all the conflicting information. Covel's doctor friend is not the only one confused. Flow is one way to avoid the distraction, and Covel shares a classic Bruce Lee clip to illustrate the trend following mindset. Markets going down are only bad if you're only betting for them to go up. Go with the flow. Avoid distractions. Avoid multitasking. Then what? You need a process; you need a system to tell you when to buy and sell. And even if you get the monetary success, what are you going to do? Just buy stuff? Emotions come into the picture again...even when you're successful. Covel brings up an article called "Buy Buy Love" in the Economist about the most satisfying ways to spend your money. In the end, it's all about the tools you have in place to keep your emotions in check. Want a free trend following DVD? Go to