3min chapter

Michael Covel's Trend Following cover image

Ep. 1173: The Right and Wrong Way of Trend Following with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

CHAPTER

The Importance of Honesty in Trading

"I don't really feel the need to defend myself in terms of what I know or what I don't know," Covel says. "How messed up is the thinking of some people out there? ... It always cracks me up how some of these folks out there in the system think that they've got the holier than thou approach" 'If you do it in an honest way, if there's a track record... then you will have arrived'

00:00
Speaker 2
You could just feel it. Covel doesn't have the academic chops. Covel doesn't have the insight to tell us about trend following. And I don't really feel the need to defend myself in terms of what I know or what I don't know. I'll let the market decide that, but I have put a fairly decent dent into the arena about the subject of trend following across five books, a film and a podcast. It seems to keep growing. So when I think about this little exchange that I had, I see lots of lessons. Again, it's a great opportunity to clarify what trend following trading is. If you don't like the fact that part of my business has to do with trend following trading, if you don't like the fact that I've written books about trend following and somehow or another, because I have written books about trend following trading that happen to be sold in the marketplace, that I'm incapable now of having an honest or accurate or objective view on the subject. How messed up is the thinking of some people out there? Because I really find interesting is this, this angle of where does one make their money from? Right? Where does one make their money from? Everyone has to get paid. That means you in the audience, the folks that I'm debating in this little interchange that took place. Oh, yeah, they got to make money somehow or another. That was getting money from some university to teach econ classes. I teach people not at a university, not at econ classes. If you don't like it, that's great. If someone doesn't like, no, that's great, but everyone has to get paid. And if you do it in an honest way, if there's a track record for how you do it, if there's an understanding of what you do, it always cracks me up. How some of these folks out there in the system think that they've got the holier than thou approach. There's this only one way to go about life. And the way you go about it is memorizing everything from the age of six years old, all through grade school, middle school, high school, college, graduate school, getting your doctoral thesis completed.
Speaker 4
And then
Speaker 2
you will have arrived.

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