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Michael Covel's Trend Following

Ep. 22: Mike Aponte Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 8 June 2012

⏱️ 77 minutes

🧾️ Download transcript

Summary

My guest today is Mike Aponte, a professional blackjack player and a former member of the MIT Blackjack Team. Aponte was featured in the bestselling book "Bringing Down The House" as the player Jason Fisher, which was adapted into the movie "21".

The topic is investing.

In this episode of Trend Following Radio we discuss:

  • Due to his systematic approach, he's definitely not a gambler; he's an investor
  • Aponte's beginnings
  • The similarities between systematic card counting and trend trading; the psychology behind the two
  • How even some of the more advanced mathematicians at MIT didn't have the risk-taking constitution it took to make the cut
  • Some revealing anecdotes along the way, including a run in with casino security that ended with them actually asking for his autograph

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.

0:21.2

I am your host, Michael Coval.

0:24.0

Not filtered, raw, honest.

0:27.4

That's my passion.

0:33.1

So this is probably one of my breakout podcast episodes, breakout in the sense that it's not a pure trading or trend following episode.

0:44.2

My guest, coming up in a few moments here is Mike Aponte.

0:47.9

Mike is a professional blackjack player and he was a team member, a leader of the famed MIT blackjack team. So Mike is a professional

0:57.6

card counter. He's definitely not a gambler. He's an investor. We're going to talk about that.

1:03.4

And for those, if you really want to look at more information on Mike, but he's featured in the book

1:10.0

called Bringing Down the House

1:11.2

by this guy named Ben Mesrich, was a bestseller, and he is the character in there, Jason Fisher.

1:18.1

And it was also made into a movie called 21. The only thing is of 21, though, is it 21 was

1:23.6

an adaptation of the book. So it's more of a fictionalized portrait of the book.

1:30.2

And the book, Mike talks about this.

1:32.1

The book was somewhat accurate.

1:33.1

But anyways, it's a really interesting conversation.

1:35.9

Now, if you're immediately hearing this intro and you're saying, oh, I'm just interested

1:38.9

in trading, I could care less about this blackjack player, that could possibly be one of

1:43.6

the most boneheaded things to say.

1:46.6

This, this, the synergies between blackjack successfully playing blackjack and trading

1:52.2

are off the charts all the way down to one of the key lynch pins between the two, Ed Thorpe

...

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