Ep. 147: Rolf Dobelli Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 16 August 2013

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Rolf Dobelli, a Swiss author and entrepreneur. Dobelli is a member of Edge Foundation, Inc., PEN International and the Royal Society of Arts. He is the founder of the World Minds foundation.

The topic is his book The Art of Thinking Clearly.

In this episode of Trend Following Radio we discuss:

Availability bias
Statistics
The sunk cost fallacy
The difficulty of logical thinking
Authority bias and outcome bias
Process vs. outcome
The irrelevancy and "white noise" of news
Information overload
Neomania and the obsession with the "new"
Nassim Taleb, outliers, and the black swan
J.P. Morgan, banks, and looking behind the facade
Why watching and waiting is torture for people (the action bias)
The idea that "the boat matters more than your rowing"
The paradox of choice, closing doors, and settings fire to ships
The "it will get worse before it gets better" fallacy and stop loss
Applying these lessons to daily life

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

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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.
0:24.0	Not filtered, raw, honest.
0:27.3	That's my passion.
0:32.9	Today on the podcast, I have Rolf de Belly.
0:36.2	Rolf is a Swiss novelist, writer, entrepreneur.
0:40.2	These days, he is best known as the author of the best-selling,
0:43.9	the art of thinking clearly.
0:46.8	Now, there can be no better objective for the population as a whole these days
0:52.3	than to learn how to think clearly.
0:56.6	I'm going to go crazy.
0:58.8	If I get dealt any more emails, this, that that come across my plate,
1:05.9	it seem to avoid all aspects of the idea of thinking clearly.
1:13.3	And Rolf goes right at it.
1:15.4	And so I'm going to jump right in a lot of weighty stuff, a lot of weighty concepts in our conversation.
1:24.4	Definitely check out Rolf's book, The Art of Thinking Clearly.
1:36.3	Self-help folks usually add stuff to the life.
1:39.5	You have to do this and you have to go jogging every second day and you have to lift weight
1:43.9	and you have to eat this food and you have to add vitamins to every second day and you have to lift weight and you have to
1:44.5	eat this food and you have to add vitamins to your life. I'm not into adding stuff. I'm into
1:49.7	reducing stuff. So let me, since there's so many different ways we can go in your book and I'm not
	...

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