Ep. 239: Brett Steenbarger Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 17 May 2014
⏱️ 41 minutes
🧾️ Download transcript
Summary
My guest today is Brett Steenbarger, a Clinical Associate Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY.
The topic is Trend Following.
In this episode of Trend Following Radio we discuss:
- What a "flow state" is, and why it's important
- How Steenbarger has seen flow connect to the trading world, and the importance of matching your level of difficulty and challenge
- Risk and risk tolerance
- The logical and psychological sides to risk
- "What have you done for me lately" attitude for investors
- Why we don't grow if we stay within our comfort zones
- Process vs. outcome
- The psychological burden of certain fee structures
- Some of the common characteristics of successful traders
- Slow thinking, deep thinking, and fast thinking
- Where we're headed regarding prescription drugs related to the mind
- Trend trading vs. mean reversion
- Contextualism
- Trend following vs. momentum trading
- How people actually behave vs. how they describe their behavior
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 Covel, not filtered, raw, honest. |
| 0:27.4 | That's my passion. |
| 0:33.1 | My guest today is Brett Steenbarger. |
| 0:36.4 | Brett is a clinical associate professor of psychiatry and behavioral sciences at the state |
| 0:41.2 | university in New York, upstate medical university in Syracuse, New York. |
| 0:45.9 | He is written, I think he's working on his fourth book now. |
| 0:49.5 | Tons of papers out there. |
| 0:50.8 | He's got a great blog that you have to check out. |
| 0:54.6 | Works also as a performance coach |
| 0:56.1 | for hedge funds, proprietary |
| 0:57.5 | trading firms. A really interesting |
| 0:59.9 | guy, definitely check |
| 1:01.9 | out his blog. Hope you enjoy this conversation. |
| 1:12.1 | Hey, Brett. |
| 1:13.6 | How you doing? |
| 1:14.8 | Good. |
| 1:19.6 | Before I'm calling you today, I'm thinking to myself, have we spoken before? |
| 1:23.9 | We've been communicating for probably a decade, but I couldn't recall if we had actually got on the phone before. |
| 1:26.0 | I don't think so. |
| 1:27.3 | You know, we obviously communicated about the book |
... |
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