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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

Jul 16, 2012

Michael Covel talks to Patrick De Villiers, a co-founder of systematic trend following fund Neural Capital. Originally from South Africa and now based in Cyprus, De Villers talks about his early background and the philosophy behind Neural Capital. De Villiers had no background in finance until he left university. Instead, he studied experimental physics in superconductivity, which helped give him the background in analyzing and looking for patterns in data (that he later used in his financial career). Staying in South Africa, he found it difficult to find work, but met a woman at an investment bank--and that opened a door. He was assigned to a graduate development program and found his way into the trading room. The idea of hiring individuals with scientific backgrounds was just taking off at that time in South Africa, and De Villiers got in on the ground floor. De Villiers eventually teamed up with Brett Venter and founded Neural Capital in 2004. They started by looking at predictive investment models using neural networks; however, this didn't pan out, and they eventually found the trend following strategy that they employ today. Covel and De Villiers discuss that when you're at a big bank the performance can be based on the franchise you're working at; the connection of ego to performance; how to explain a trend following approach to clients; capturing the "fat" of the trend; outliers and black swans; putting the unexpected moves in your favor; the relation of trend following to behavioral finance; and insuring that you're in the game for when the big winners come.