Ep. 891: Inside the Mind of Charles Faulkner with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Experience in Trading
I just the other day saw a piece of research that pointed out that it's people who have an experience bias that is that they use their money to buy experiences will tend to be better traders and happier people. I thought yeah because getting things is a very early childhood kind of experience it's where the things represent some sort of object some sort of power or something you collect these things but what it does is it makes you more thing orientedWhat about emotional currency was reading blue is Howard Marx was talking about that one had to take account not only of what it cost to be in a non-performing trade in terms of money but also what it cost in terms of mind share like mind share as a
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