Ep. 187: Charles Faulkner Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 30 November 2013

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Charles Faulkner, an author, trader, and international expert on modeling the knowledge and performance of exceptional individuals. He was originally featured in "The New Market Wizards" by Jack Schwager.

The topic is trading psychology.

In this episode of Trend Following Radio we discuss:

Behavior, emotions, decision-making, and intuition in the world of money--and what money does to us on a biological level
Neurolinguistic Programming
How money in the mind influences money in the world
The schizophrenic-seeming handout to the two recent Nobel Prize winners
"System one" and "system two"
How "one" is running all the time, how "two" takes effort--and where Faulkner hopes to take this research
How experience can teach "system one"
New lightbulb moments in current research
How the "afraid to lose" (or in Singapore, Kiasu) concept could be terribly dangerous when applied to money
Why the less you know about something, the clearer the image--and the more certain you are that it's real and true
The need for certainty
Money as a living metaphor; sunk costs
The Myers-Briggs instrument
Rituals and money

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.
0:32.9	My guest today is Charles Faulkner.
0:36.2	Charles is one of my favorite guests.
0:38.6	He's also one of the audience's favorite guests.
0:41.8	He's appeared on my podcast multiple times.
0:45.2	He also appeared in my film and was featured in my book, Trend Following.
0:50.3	And for those that go back to Jack Schwager's classic book, The New Market Wizards, Charles was featured there as well.
0:58.8	Our conversation is spread over two days.
1:01.8	We had a little internet hiccup.
1:04.6	But, as always, with Charles, educational, inspiring, and I just like to listen.
1:14.4	I hope you enjoy this conversation.
1:21.9	Hello there, Michael.
1:23.8	Hi, Charles.
1:25.1	You sound awesome.
1:27.3	I hope our bandwidth between our two interesting cities today stays clear.
1:34.3	Me too.
1:35.4	Where are you at?
1:37.3	I'm in Belgrade, and it's snowing. It's just started to be winter here, a little bit late this year.
	...

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