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Ep. 378: Embracing Failure with Michael Covel on Trend Following Radio
On today’s show Michael Covel vents some of the frustration he’s been feeling over the past few weeks. Central to his discussion is the idea of failure, and how the vast majority of people are unable – or unwilling – to accept how vital it is to overall long-term success.
Michael opens by pointing out that most people today seem to be under the delusion that someone will always be there to take care of them. This, as Michael explains, is by design. Government and the talking heads of the media want the average citizen to be soft, dependent, and unwilling to take risks. Safety and security, according to the official line, should be valued above all else (even if it is all an illusion).
But this line of thinking doesn’t account for the truly successful of the world. Those who’ve risked everything and succeeded – specifically because they failed and learned from their mistakes. Success requires tenacity and dedication, but neither are required if you don’t take a risk in the first place. Because if you never take a shot, you’ll never hit the target.
In this episode of Trend Following Radio:
- Understanding that success requires failure
- Seeing past investment myths
- Recognizing that no risk means no profits
- Understanding that there’s no such thing as a perfect strategy
- Shattering the notion that someone will always take care of you
- Accepting that there are no guarantees
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Published on 10 years, 3 months ago