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Michael Covel's Trend Following
Ep. 1289: Larry Williams Redux with Michael Covel on Trend Following Radio
May 31, 2024
Larry Williams, a prominent figure in the trading and investment community, shares his insights with Michael Covel. They dive into the chaotic yet humorous experiences at a Beijing conference and the challenges of trading, including IRS audits and regulatory concerns. Williams reflects on his rural roots, political aspirations, and the trust erosion in commodity markets. The discussion emphasizes the importance of simplifying trading strategies for resilience and personal freedom, showcasing the lifestyle that successful trading can offer.
58:54
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Quick takeaways
- Larry Williams emphasizes the importance of cutting losses and maintaining strict risk management for successful trading.
- The evolution of technology in trading necessitates adaptability, but human emotional patterns in market behaviors remain constant.
Deep dives
A Humorous Encounter in Beijing
During a speech in Beijing in 2015, a trader recounts his amusing experience of dining with Larry Williams and a local event organizer, who was originally a dentist but had transitioned to hosting investing conferences. The dinner featured unfamiliar dishes that included tripe and intestines, leading Larry to express dissatisfaction with the adventurous menu. Following the meal, the guests were taken to a picturesque park, where the speaker faced a sudden need for a restroom, resulting in a comical yet uncomfortable situation. This light-hearted narrative sets the stage for deeper insights into trading and investing philosophies shared in the episode.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode