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Ep. 382: Dissecting Duplicity with Michael Covel on Trend Following Radio
On today’s show Michael Covel examines the duplicitous nature of the mainstream financial media, how its talking heads insist on pretending they can predict the future, and how even its most respected publications promote seemingly opposing ideas.
To emphasize his point, Michael opens the discussion by talking about the publication process for his first book, Trend Following. After being passed on by one publisher, he was eventually signed by the publishing side of the Financial Times conglomerate. The same FT, as Michael points out, that’s been trashing trend following for decades.
And nothing has changed. Michael reads from a September 2015 FT article in which author Stephen Foley gives trend following the traditional mainstream bashing we’ve come to except. But in the same issue, FT conducts an interview with Nobel Prize-winning economist Robert Shiller, in which Shiller says, he sees a massive stock market bubble – the kind of thing trend following has repeatedly proven to be best-equipped to handle.
In this episode of Trend Following Radio:
- Trend following: a system, not a theory
- Opinions are worthless without strategy
- The mainstream media’s continued attacks on trend following
- No one knows the future – embrace the idea
- Theories are conjecture
- Focus on the now – that’s the indicator
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Published on 10 years, 3 months ago