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

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

I am your host, Michael Coval.

Not filtered, raw, honest.

That's my passion.

So I've got a bunch of interesting clips today.

Audio clips.

I'm not going to throw a monologue at you today.

I'm not going to throw an interview at you today.

But I am going to throw some clips that I have found.

A couple of them I probably played before, but most of these are ones that I've not put in a podcast before. Let me open with

Big Daddy Buffett. I thought this was a good short clip. He was talking about long-term capital

management, the hedge fund that almost took the system down back in the summer of 1998, a huge, huge winning time period for trend followers. You might say to

yourself, Covel, what does the summer of 1998 have to do with anything? Well, if you don't want it to

do with anything, you don't have to have it do with anything. That's your choice. That was almost

like Yoda speaking there. If you don't want to have to do it with anything, yeah, it kind of

sounds like a Yoda that might have been drinking or something. Anyways, without further ado,

Mr. Big Daddy, Warren Buffett. The whole long-term capital management, and I hope most of you are familiar with it,

but the whole story is really fascinating because if you take John Merriweather and Eric Rosenfeld,

Larry Hillenbrand, Greg Hawkins, Victor Agoni, the two Nobel Prize winners, Merton, Sholes.

If you take the 16 of them, they probably have as high on average IQ as any 16 people working together

in one business in the country, including at Microsoft or wherever you want to name.

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