Ep. 288: Frank Curzio & Robin Griffiths Interviews with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 31 October 2014

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guests today are Frank Curzio of Stansberry & Associates and Robin Griffiths, the Chief Technical Strategist at ECU and formerly at HSBC.

The topic is markets.

In this episode of Trend Following Radio we discuss:

Covel and Curzio discuss how the fundamental guys justify all time highs in the equity market; the Shiller PE ratio; the importance of analyzing interest rates; Warren Buffett recent investments; what the Fed would do if we went down 30% today; why having a low interest rate environment creates a good situation for stocks; being prepared from a risk management perspective; Zero Interest Rate Policy, its effect on equities and bonds, and tail risk; comparing the environment today to the 1987 crash; hypothetical situations surrounding the S&P 500; exit strategies; and the 24-hour news cycle.
Covel and Griffiths discuss how to use fundamentals in an age when interest rates are artificially controlled; Griffiths' history as a mechanical engineer and how he found his way into trading and technical analysis; regression analysis; Elliott Wave and cycles; the idea of whipsaws; geopolitical risks; China, India, and the rise of Asia; not trading off of geopolitical fundamental information; how Griffiths came to the conclusion that the efficient market hypothesis and much of what the mutual fund industry depends on doesn't hold water; spikes and why people in 2014 think that all spikes are gone; Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay and the cyclical nature of booms and busts; and virtual currencies.

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.
0:24.0	Not filtered, raw, honest.
0:27.4	That's my passion.
0:32.9	I have an interesting show today.
0:35.4	Two guests, back to back.
0:38.4	First, Frank Curzio from Stansberry and Associates.
0:42.7	Frank has been on my show before.
0:45.2	We always have these debates on Facebook, Frank and I do.
0:48.6	And I wanted to have him on to give the fundamental perspective.
0:52.6	And a little pushback from me, of course. But the fundamental perspective and a little pushback from me of course but the fundamental
0:56.2	perspective about why markets are okay why stock markets are okay at all-time highs after
1:05.2	frank back-to-back I have Robin Griffiths he is chief technical strategist at ECU. Previously, same position at HSBC for 20 years.
1:19.6	Robin comes at it from a technical perspective. And Robin is not exactly believing in the all-time high
1:27.1	equity market situation.
1:30.8	A nice, long, deep interview from two very compelling personalities, each giving their own version
1:41.0	of food for thought. And of course, me thrown into the mixing bowl just for shits and giggles.
1:50.7	I hope you enjoy two fun guests.
2:00.5	But here's I want to go. And maybe this is the cross-cuses this content so you know we were debating
2:07.1	on facebook a little and i kind of threw it out there and i knew it was a little bit aggressive
2:10.4	posture but with equity is at essentially all-time highs i said how can the fundamental guys justify these all-time highs. I said, how can the fundamental guys justify these all-time highs
	...

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