Ep. 1328: Trend Following Masters with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 3 March 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Please enjoy my monologue Trend Following Masters with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

Click on a timestamp to play from that location

0:00.0	Today I want to share with you a chapter from my book, Trend Following Masters, Volume 1.
0:08.0	No big setup. Enjoy the insights. And just imagine how crazy this world is that this story exists.
0:20.0	What an amazing time to learn how things really happen, how things really unfold.
0:27.2	It's always a surprise.
0:29.6	It's never predicted.
0:31.7	Enjoy.
0:32.1	Enjoy. Chapter 1. Bill Dreis, Surfing the Waves
0:49.6	Bill Dreis graduated from MIT with the degree in electrical engineering.
0:56.0	He then went on to Harvard Business School where he was attracted to Bayesian decision theory and operations research.
1:03.0	After graduating, he went to work for a think tank in California that was doing computer modeling of strategic and tactical warfare. And that introduced him to state-of-the-art modeling.
1:15.2	Bill says of his time at the think tank, we were working under Air Force contracts, and we were exploring different kinds of tactics in missile firing strategies, or ground wars in Europe, and that sort of thing.
1:28.6	Most of the work was done by young engineers with mathematical backgrounds.
1:34.4	Michael Note
1:35.3	I knew the name Bill Dreis from the Performance Tracking Services, but I had never talked to him.
1:42.2	Niels Kostrup Larson, of Top Taders Unplugged, connected me.
1:46.6	This is how life works.
1:48.5	It's all random.
1:50.0	Be prepared because life is six degrees of separation.
1:53.7	But in the trend-following world for me, it's one degree.
1:59.3	Michael Covel.
2:00.9	I want to jump in with a philosophical discussion about one of your heroes.
2:05.3	If you'd refer to him that way, Benoit Mandelbrot.
	...

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