Ep. 111: Nick Radge Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 732 Ratings

🗓️ 20 March 2013

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Nick Radge. Radge operates The Chartist (www.thechartist.com.au). He began trading in 1985. During a stint working for an investment bank in Singapore Nick dedicated his evenings testing trading strategies; 2 hours a day for 18 months, a total of at least 750 hours. Nick's first book, Every-Day Traders (John Wiley & Sons Australia Ltd, 2003), was written to identify the traits of successful traders.

The topic is his book Unholy Grails - A New Road to Wealth.

In this episode of Trend Following Radio we discuss:

How the trend following world is foreign to many people
The importance of drawing distinctions between traditional value investing and alternative systems like trend following
How the name of the game for many fund managers is not necessarily performance but funds under management
Playing the game of mathematics vs. playing the game of picking the right stocks
Why the US stock market has gone straight up despite all the fear going on elsewhere in the world, and why you shouldn't "fight the tape"
Closet trend followers
Why price can't be faked
Trade restrictions, cultural attitudes, and the importance of being able to step out of the crowd
Why individuals have an advantage over fund managers
The value of understanding trend following even when you don't actually use it as a strategy
Spotting 'trends', how you can't spot a trend until it's started or until it's over, and using hitchhiking as an analogy for trading
How trend following is useful when outlier events and black swans appear
Using rules and strategies to fight fear
The difficulty of using Warren Buffett as an example, and the problems that arise when managing larger amounts of money
Radge's thoughts on being an entrepreneur

Jump in!

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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.
0:12.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings. I am your host, Michael
0:24.9	Cobell, not filtered, raw, honest. That's my passion. So this is my first interview since going abroad.
0:41.3	I had some logistical and technical issues to work through to make this portable
0:46.9	podcast work for interviewing.
0:50.7	And my first guest today is Nick Rage.
0:53.6	Nick appeared on my podcast last year, and he was a great interview, and I have no doubt
0:58.7	today will be a great interview as well.
1:01.6	So let's go ahead and jump right in.
1:15.1	You've been on the road for a long time.
1:21.9	Yeah, you know, I'm not really noticing it yet.
1:22.5	I don't know.
1:29.7	I guess still being a single man, I guess it's, I don't know, it's interesting.
1:30.5	I'm enjoying it.
1:32.3	Oh, that's good.
1:35.5	If you like living out of suitcases and hotel rooms, I guess that's good.
1:41.9	Well, you know, I've gotten onto this whole, this whole kind of Zen yoga bent.
1:43.5	And I don't know.
1:46.2	I've not, I've not had much interest in, in I mean I've still got a house back in Virginia but I haven't had much interest in
1:50.8	anything what's the word permanent right now so sure sure I'm enjoying that you're kind of like
1:59.2	Mike you're nuts oh no look you've got to do what you got to do generally you You're kind of like, Mike, you're nuts.
2:03.2	Oh, no, look, you've got to do what you've got to do.
	...

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