Ep. 279: Mark Broadie Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 3 October 2014

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Mark Broadie, the Carson Family Professor of Business and Vice Dean at the Columbia Business School. His research focuses on quantitative finance and sports analytics. His golf research has appeared in academic journals and many golf publications. He developed the new strokes gained approach to analyze the performance of amateur and professional golfers and worked with the PGA Tour on their implementation of the strokes gained putting stat.

The topic is his book Every Shot Counts: Using the Revolutionary Strokes Gained Approach to Improve Your Golf Performance and Strategy.

In this episode of Trend Following Radio we discuss:

How he became, in Covel's words, the "Bill James of golf"
How Broadie connected his finance work to the sport of golf
Why certain golfers win
Why approach shots are the most important
"Drive for show, putt for dough"
How Broadie started, the software he used, and how he got better data
Whether Broadie had any sense of where the data might go when he first collected it
Power as a separator
The connection between sports analytics, business analytics, and investing
The psychology of golf
First putts vs. second putts
The world golf rankings, and how these can be fixed

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.
0:33.4	Today on the show I have Mark Brody.
0:35.7	He's the Carson Family Professor of Business and Vice Dean at the Columbia Business School.
0:42.1	His research focuses on quantitative finance and sports analytics. His golf research has appeared in academic journals and many golf publications.
0:51.2	He developed the new strokes gained approach to analyze the performance of amateur
0:55.2	and professional golfers and has worked with the PGA tour on their implementation of the
1:00.1	strokes gained putting statistic. Now, we all know about Moneyball. We all know about Bill James
1:08.3	and John Henry, Michael Lewis, the movie, Brad Pitt.
1:14.3	It looks like my guest today has carved out that niche for himself.
1:19.3	Golf science.
1:21.4	No one else is there.
1:22.6	I really look forward to this conversation.
1:24.4	I'm not a huge golf guy other than occasionally watching on TV.
1:29.4	And I don't really play. But when it comes to sports and as a baseball lover, when it comes to
1:37.1	sports and science and statistics and looking at things in a new way, and my gosh, trend following trading, it's all about science.
1:48.0	I hope you enjoy this conversation.
1:57.3	So as a day job, a professor, derivatives, risk management, portfolio optimization, but you've got kind of a side passion.
2:08.6	And the best way that I can describe this, and you can correct me if I'm going off on a tangent here, but you've seemingly become the Bill James of golf.
	...

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