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Michael Covel's Trend Following

Ep. 107: Be Water My Friend with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 3 March 2013

⏱️ 30 minutes

🧾️ Download transcript

Summary

Please enjoy my monologue Be Water My Friend with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.

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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

Click on a timestamp to play from that location

0:00.0

This is Trend Following Radio, where great thinking comes alive.

0:12.2

Nobel Prize winners, legendary traders, best-selling authors, and the pros that know what drive us irrational human beings.

0:22.4

I am your host, Michael Covell, not filtered, raw, honest.

0:28.7

That's my passion.

0:37.0

So I want to start this podcast off with two speeches.

0:42.2

Not my speeches.

0:44.7

One, a very famous film speech that you have probably heard.

0:50.7

And second, a film speech that you might likely have not heard, but for those that have some Wall Street experience, they will have most likely heard it.

1:02.9

First, let me play you the very famous speech from the movie Wall Street.

1:09.9

Well, I appreciate the opportunity.

1:12.5

You're giving me Mr. Cromwell as the single largest shareholder and told our paper to speak.

1:19.7

Well, ladies and gentlemen, we're out here to indulge in fantasy, but in political and economic reality.

1:27.4

America, America has become a second-rate power. Its trade deficit and its

1:36.4

fiscal deficit are at nightmare proportions. Now, in the days of the free market, when our country

1:43.2

was a top industrial power, there was accountability to the stockholder.

1:49.0

The Carnegie's, the melons, the men that built this great industrial empire made sure of it because it was their money and stake.

1:58.0

Today, management has no stake in the company.

2:03.6

All together, these men sitting up here own less than 3% of the company. And where

2:08.6

is Mr. Cromwell put his million dollars to glory? Not in Teldar stock. He owns less

2:14.6

than 1%. You own the company. That's right.

2:18.3

You, the stockholder, and you are all being royally screwed over by these

2:23.3

bureaucrats with their steak lunches, their hunting and fishing trips, their corporate

...

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