Ep. 219: Carl Richards Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 13 March 2014

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Carl Richards, a Certified Financial Planner and creator of the Sketch Guy column, appearing weekly in The New York Times since 2010. Carl has also been featured on Marketplace Money, Oprah.com, and Forbes.com.

The topic is finance.

In this episode of Trend Following Radio we discuss:

Richards’ new radio venture
How Richards came to start The Behavior Gap
Outliers, and living your own bell curve
Risk on a daily, weekly, and monthly basis
The definition of radical self-awareness
Mindfulness and awareness as applied to our financial decisions
Habit, action, feeling, and thought
Simplicity and effectiveness
Government intervention in the markets
Quantitative easing
Buy and hold in Japan
Loss aversion and the pain of loss
Feeling loss more than the joy of gain

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.
0:21.1	I am your host, Michael Cobell, not filtered, raw, honest.
0:27.3	That's my passion.
0:32.5	Today in the podcast, I have Carl Richards of Behavior Gap fame from the New York Times, behaviorgap.com.
0:41.2	Awesome sketches. I'm sure I have posted these. I know I've posted these on my blog and probably
0:47.4	tweeted them and you name it. But I love his sketches. Good conversation. I hope you enjoy.
1:04.0	So, I must say I've been a big fan of the sketches for a while,
1:08.7	and I keep thinking of my first experience in London with Mind the Gap.
1:10.7	Oh, yeah, yeah.
1:12.8	Yeah, that's funny.
1:19.7	But listen, seriously, I think what's so cool, and I'm really curious, I'm curious to how you first came across the idea with the sketches.
1:23.8	I've heard some of your background, but, you know, to take the sketches, which bring
1:28.9	good investing and behavioral economics together in an understandable, digestible format, it's
1:36.1	pretty rare because I think it gets, I don't see that kind of synthesis in a regular anywhere, really?
1:45.6	It's funny.
1:46.4	I just hired a radio producer to help me start this project called Behavioring Up Radio.
1:52.3	And I always thought because of, you know, what little background I have on the written sort of journalist side that, you know,
2:03.2	pre-interviews were awesome, you know, like you call and you have, so I did that with my, you know,
2:08.7	the first episode of Behavior Up Radio. We had this pre-interview that was like 60 minutes long. It's just
2:14.1	because we went off. Like, we had so much fun talking. And my producer was like,
2:18.8	you know what? You really shouldn't do much pre-interview. I told her, I was like, the pre-interview
	...

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