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.

My guest today is Andrew Strassman.

He happens to be a trend following trader. I like to talk to

trend following traders. They're fun to talk to. You know why? Because I've written a few

trend following books. Andrew happens to been around for a while. He happens to have some

interesting experience. And he's a fun conversation. His firm, his commodity trading advisor,

is Totem Asset Group. And look, if you're new

or you're experienced and you can't learn something from Andrew, if you can't learn something from

his perspective, how he got started, how he's achieved over the years, there is a problem with you.

You should give up if you can't learn something from Andrew.

Without any further delay from me, let's jump right into my guest today, Andrew Strassman,

and get into trend following. I hope you enjoy.

I've not started podcasts like this, but I thought to myself, given that we exchanged an email before we started talking, I noticed not a fear from you, but the concern that one has if you are a manager, managing funds for clients, that people might not necessarily understand the regulation part. Generally, what I've done on this podcast, does I usually keep things at the

big philosophical headspace because I've been around long enough to know some of what a guy

like you has to deal with, the issues that you have to deal with. Why don't you

share with the audience, for example, when you come on a podcast like this, what are the concerns

that you have from a regulatory standpoint about what you can't and cannot say? There's two issues

here. One is the watered down statement. Every time you say this could happen,

you must also say this might also not happen. So the balance of risk statement, it makes you sound

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