Ep. 929: Motivate Me with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Science of Speculation
Speculation will always be with us. Prudes may frown upon it. Superficial thinkers may confuse it with the commonest forms of gambling. And sociologists may dream of the day when envy, ambition and covetousness will be a thing of the past. But their agitations and outcries can no more check speculation than human ingenuity can devise a scheme to control the tides. In fact, incentive is all there is at the bottom of speculation. Men are willing to take risks to acquire wealth. They are willing to stake their capital upon opportunities which appeal to their judgment. The inventor who is apparently of all men, the least of speculators takes greatest speculative chances for
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