Ep. 1098: Tom Basso Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 1 August 2022

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Tom Basso, a hedge fund manager who currently runs enjoytheride.world, a website dedicated to trader education. Tom was one of several traders featured in Jack Schwager’s The New Market Wizards and dubbed “Mr. Serenity” by Jack. He was president and founder of Trendstat Capital Management. He is the author of two books, Panic-Proof Investing and the self-published The Frustrated Investor. In 1998, he was elected to the board of the National Futures Association. He is also the chairman of the board of Standpoint Funds, located in Scottsdale, Arizona, which specializes in all-weather investing.

The topic is Trend Following.

In this episode of Trend Following Radio we discuss:

Modern society and inflation
Trading short-term, medium-term, and long-term with extreme diversification
A trader's work-life balance
Viewpoint on cryptocurrencies
Trend following in the year 2022
Tom’s happy retirement life

Jump in!

---

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.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel, not filtered, raw, honest.
0:27.4	That's my passion.
0:33.4	My guest today, and I don't know how many times he's appeared exactly on this podcast, but my guest today, Tom Basso, is probably one of the top one, two, or three guests that helped to make this podcast.
0:47.9	Arguably, number one, as typical with Tom and myself, we cover all kinds of topics in the trend following space,
0:54.6	the life space, the market space, a wide range. And just remember also, my book about Tom,
1:02.5	trend following mindset. Check that out. Without any further delay, let's jump right into my
1:07.6	conversation with Tom Basso, and I hope you enjoy the ride.
1:23.6	How do you feel now and how does society feel now?
1:31.3	Your observations, your self-observation and your observation of society?
1:40.4	I personally have been very content to sit back and watch what seems to be a whole lot of carnage out there.
1:42.0	I feel for people who are getting hurt by it, but at the same
1:45.8	time, many have not really planned very well. I know you're into trend following. I'm into
1:51.7	trend following. Being a trend follower has been pretty easy lately. It just should be either short or
1:56.9	out. On equities, you being. On equities, but bonds had a rundown too. Energy prices have had a
2:03.9	huge run up. There's been a lot of pressures on the economy, inflationary pressures,
2:10.4	interest rate pressures, all that stuff. Yet if you're a trend follower, it was relatively
2:15.1	simple to position yourself so that you would be very content
2:20.3	right now. You feel content. So you personally, you're A-OK, you're the same Tom that's been
2:26.3	the same time for decades. You've got your life rule set. You've got the way you want to live.
2:31.0	The last four or five months have not changed any of that for you.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Michael Covel, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Michael Covel and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.