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Michael Covel's Trend Following

Ep. 179: Tim Price Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6732 Ratings

🗓️ 9 November 2013

⏱️ 44 minutes

🧾️ Download transcript

Summary

My guest today is Tim Price, a partner and director of investment at PFP Wealth Management in the UK, an independent asset management and financial planning practice.

The topic is markets and investments.

In this episode of Trend Following Radio we discuss:

  • The subordination of freely discovered prices to policy goals
  • Why the recent trading environment seems "wrong and dangerous"
  • Why Price wouldn't be able to speak freely working for a large bank
  • Why Price and his colleagues aren't "doom and gloomers"
  • Why the media neglects to report on black swans
  • Why the role of the Fed is to keep "spiking the punch"
  • The vested financial pushback on having some of these views
  • Risk and "Against The Gods"
  • Why people are hardwired to be loss averse
  • An analogy to the US Forest Service

Jump in!

---

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.

0:21.1

I am your host, Michael Covel.

0:24.0

Not filtered, raw, honest.

0:27.4

That's my passion.

0:32.4

Well, you wore out your welcome with wind and precision

0:41.3

Road on the steel, please.

0:45.3

Come on, you paper, you see her visions.

0:51.3

Come on, you painter, you pi her, you press her and check.

0:59.0

My guest today is Tim Price.

1:02.2

Tim is a partner and director of investment at PFP wealth management in the UK.

1:07.8

I first got turned on to Tim's work through Charlie Newsom, who had been forwarding me

1:14.2

Tim's newsletters. Tim makes no bones about it. He comes more from a fundamental value-based

1:21.8

perspective. However, what I really liked about his newsletters was just the pragmatic, almost investigative look into what's going on within government and central banks in the last five years.

1:38.9

And it just intrigued me at how blunt and how direct and how right Tim is.

1:49.5

Now, some of the audience is surely saying, oh, Coval, who cares about being right?

1:56.2

Your turn following guy and all this other stuff doesn't make a hill of bean's difference.

2:02.0

Look, there's a reason why traders, Bill Dunn and Rich Dennis, have been on the board of the Reason Foundation.

2:13.9

Yes, they might see trading and trend trading and technical trend trading as a means to profit.

2:22.3

But that doesn't mean they don't have a view on a properly functioning society.

2:29.7

And so, Tim, like Bill Dunn, like Rich Dennis, like many other people I know, comes from a liberty perspective.

2:41.0

Which is, look, let's try and be fair about things.

...

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