4.6 • 730 Ratings
🗓️ 4 August 2025
⏱️ 51 minutes
🧾️ Download transcript
My guest today is Steve Burns, the founder of New Trader U in 2011. He started investing in 1993, and trading his own accounts in 1995. It was love at first trade. A natural teacher with a gift for cutting through the bull and making complex ideas simple. He offers an extensive blog resource with thousands of original articles, as well as online courses and best-selling books covering a variety of topics.
The topic is AI.
In this episode of Trend Following Radio we discuss:
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/
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| 0:00.0 | My guest today is a repeat guest. Steve Burns, author, trader, social media expert, artificial intelligence expert, which is the subject of our conversation today. |
| 0:13.7 | I wanted to have an AI conversation and Steve was the first person that came to mind. |
| 0:20.0 | Whether you don't know anything about AI, |
| 0:22.3 | or if you just want to listen to two guys who are madly in love with AI, |
| 0:26.5 | myself and Steve, I hope you enjoy. Even though you and I have got this interesting trading background and maybe some people |
| 0:48.0 | don't think it's interesting, whatever, I think by the numbers of book sales for both |
| 0:51.6 | of us and the interest in our work, I would say, okay, people |
| 0:54.8 | like what we do. Even though we're still in the same kind of headspace, you're probably a little |
| 0:58.9 | more of a generalist and I'm a little more specific on one strategy. But hey, it's still all the same |
| 1:03.2 | stuff. But here's where I wanted to go today because I thought I have since last fall, |
| 1:10.4 | one assistant in particular was really pushing on AI usage. |
| 1:15.3 | And I just looked at it as not discounting it, but I was, whatever, what am I going to use it for? |
| 1:21.4 | And then somebody went to an app, somebody that works for me, went to an app, fed it my podcast, and then she sent me just a |
| 1:30.2 | 15 second excerpt of AI Mike. And I was like, what the blank? This is, I don't know where |
| 1:38.6 | it's going. Now, from somebody that likes to produce content, it's great. It really surprised me. |
| 1:44.1 | I really had no idea, because we're going to be the, it's great. It really surprised me. I really had no idea, |
| 1:46.5 | because we're going to be the people that are most probably in tune with our own voice |
| 1:50.6 | and our own mannerisms and whatever. And so I'm immediately thinking before I even click, |
| 1:55.3 | ah, this is going to sound like shit. And it did it. It did not. That surprised me. I assume you've had a similar experience. My wife, Holly, that was her rabbit hole she ran into right after her metaverse adventures. She was all in on AI three years ago. So she's so far ahead as she drugged me into it because I'm the same way you were. It's like, what? I didn't get it. I just didn't get it. And, you know, like you said, she uses to create images to clone my voice, which I'm like you. I thought, that's ridiculous. In a minute she cloned my voice and could show me my own voice, which shows the danger of all the, what do you call it, the deep fakes and everything. She's going to unravel all every possible facet from image creation to voicing, to comment, videos, audio. It's mind-boggling. She's like 10 business ideas for her own, for herself, for AI usage. She's much more in-depth than I am, but I'm like you. I started understanding the power because, like, say, for instance, you wanted to write a book about Warren Buffett's shareholder letters, like the biggest lessons. That would take a normal human, what, a year, two years to go through all the letters and find his wisdom. You can create a Warren Buffett bot, train it on the Berkshire Hathaway shareholder letters, and just generate a book in a day. It's the proofreading and everything would be as hard to do, but from a research standpoint, you can take a two-hour podcast, copy and paste the script of the YouTube video into AI and say, give me the five lessons in this video, and it'll do it instantly. So I think it's the most powerful tools ever created. And even, like, perplex thee now is like the new Google where it's like 100 times better than Google. |
| 3:27.0 | It'll search the entire web and every search platform will give you exactly what you want. |
| 3:31.0 | It's shocking the depth that it can go and the speed of anything you want to do, |
| 3:36.0 | the speed of the research or the analytics that it can do for you is mind-bottling. I think for me, the thing |
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