This is trend following radio where great thinking comes alive.

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

I am your host, Michael Covel.

Not filtered, raw, honest.

That's my passion.

Today, seven issues.

Seven issues that cross my table. I think there's something to be learned from all seven when it comes to successful speculation.

Number one, the first one out of the gate, this new book, The Network State, by a very bright venture capitalist. A guy named Bologi, I don't want to mess up his last name. Tim Ferriss was interviewing him. And for those not aware, the idea of the network state, and I might bastardize this a little, but essentially people coming together online, forming a nation, like-minded people, forming a nation around a topic,

eventually binding those people together with a form of government, a form of a country, so to

speak, a state, a nation state. And then this digital nation state gains entry into the United Nations. That's the

premise of the book. He gets into a lot of detail. There's a lot of issues. Many things I agree with,

I think are very interesting how he lays them out. Some things I think have got a blindingly massive

hole in his argument. But let's face it, if he could win with his idea, essentially a tax haven

nation state, sign me up if I can get away from Uncle Sam taxing me to the moon. But that's not really

the interesting point, or at least the point that I want to talk about in the middle of the

conversation. And I think Tim brought this up. Tim talked about reassessment. point, or at least the point that I want to talk about in the middle of the conversation,

and I think Tim brought this up. Tim talked about reassessing investments. And I'm paraphrasing here,

so he can beat me up if I'm wrong. But he said something to the effect of maybe once every six

months, you reassess what all of your investments are and make new

predictions. I'm a trend following guy. I'm a rules guy. If I hear that, now of course also,

Tim could have been talking in shorthand between him and Bologi, but then again, everyone else is listening.

So as a trend following guy, if I hear the idea of reassessing investments and making new

...