Ep. 166: Harry Binswanger Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 6 October 2013
⏱️ 63 minutes
🧾️ Download transcript
Summary
My guest today is Harry Binswanger, an American philosopher, writer, and Objectivist as a long-time associate of Ayn Rand.
The topic is his article on the value of 1%.
In this episode of Trend Following Radio we discuss:
- Being inspired by the 1%, and why his article caused such an uproar
- The nature of trade
- Envy and jealousy
- Understanding where entrepreneurs start and how wealth is created
- The bailouts of 2008
- Wal-Mart and its many innovations
- Why money isn't the root of all evil
- Seeing Ayn Rand's work woven into the cultural fabric
- Statism
- Navigators and the new health care laws
- Why the wealthiest counties in America all surround Washington, DC
- Why we're at the "tipping point" in society today
- Thoughts on Ron Paul vs. the principles of Ayn Rand
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. |
| 0:10.9 | 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. |
| 0:33.3 | Today in the show I have Harry Benzwanger, and Harry is an American philosopher. He's a writer. |
| 0:38.7 | It's also an objectivist, a longtime associate of Ein Rand. And I caught his interview recently with Henry Blodgett. |
| 0:48.4 | Because Harry wrote a very controversial article talking about how society should give back to the 1% and how valuable |
| 0:57.2 | the 1% is. |
| 1:01.0 | So it was an interesting discussion that Blodgett and Harry both had. |
| 1:07.1 | And I wanted to have Harry on to expand on what they were talking about and get into it in |
| 1:11.6 | even more detail. |
| 1:13.5 | Our conversation follows. |
| 1:21.5 | So I have to tell you, you might have to tap out at some point in time in this conversation |
| 1:25.6 | because I am sure that I could talk to you all day long about the topics, many of these topics, which I love to talk about. |
| 1:32.8 | The first thing I kind of really want to throw out there, just an experience that I had early in my mid-20s, I had never read Atlas Shrugged. |
| 1:41.4 | And I had one of the most famous traders ever say to me, Michael, we're |
| 1:46.9 | going to have a fine conversation. First things first, go read Atlas Shrugged. And so I find it, |
| 1:52.9 | I have that lead up, because I find it funny when I see your appearance with Henry Blodgett, |
| 1:58.8 | that there's all this writing and all this negativity. |
| 2:01.8 | When I know, beyond a shadow of a doubt, there is such a silent majority that just love |
| 2:08.8 | the logic and the thinking that Ayn Rand put out there. |
... |
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