Ep. 264: John H. Cochrane Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 11 August 2014
⏱️ 29 minutes
🧾️ Download transcript
Summary
My guest today is John H. Cochrane, the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.
The topic is Chicago school economics.
In this episode of Trend Following Radio we discuss:
- Warren Buffett's quote that he "would have made a fortune" if the banks weren't bailed out
- Crony capitalism
- Why "a good Bear failure may have saved us from a bad Lehman failure"
- The cost of regulation
- Uber, taxi service, and regulation
- Why commodities keep getting cheaper and cheaper, but people with expertise keep getting more and more expensive
- The idea of discretion
- Healthcare
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 Covel, not filtered, raw, honest. |
| 0:27.3 | That's my passion. |
| 0:33.3 | Today in the show I have John Cochran. |
| 0:36.1 | He is the AQR Capital Management Distinguished Service Professor of Finance at the University |
| 0:41.9 | of Chicago Booth School of Business. |
| 0:44.5 | We cover wide territory today. |
| 0:47.9 | Some of the audience will love our direction. |
| 0:50.5 | Some will hate the direction. |
| 0:52.5 | Either way, I hope you enjoy. |
| 1:01.8 | Music some will hate the direction. Either way, I hope you enjoy. So here's where I want to go, John. Digging through your blog, it's pretty easy to find topics that are near and dear to you. |
| 1:09.2 | And something hit the news in the last couple weeks, |
| 1:11.8 | couple months. And I've not read the book, but Tim Geithner had his book come out. And there |
| 1:17.4 | was some press about one issue in there that I thought was interesting. And it was a comment or a |
| 1:22.4 | discussion, a story about a conversation he had with Warren Buffett post either post the bare bailout, I believe. |
| 1:30.5 | But Buffett essentially told Geithner, hey, this is terrible. If you didn't do the bailout, |
| 1:37.9 | it would have been terrible for the country, but I would have made a lot of money. And that doesn't |
| 1:43.5 | make any sense to me, because if it would have been so terrible for the country, |
| 1:47.6 | how would he have had the money to make the bets on buying the discounts? |
| 1:51.7 | And I would love for you to kind of break that apart a little bit because I thought that |
| 1:56.8 | was a really telling comment and it got a little bit of press but I think it was a you know the |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Michael Covel, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Michael Covel and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.