Ep. 327: Susan Polgar and Douglas Goldstein Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 16 March 2015

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guests today are Susan Polgar and Douglas Goldstein.

Susan Polgar, American chess grandmaster, and Douglas Goldstein, Certified Financial Planner, had the unique idea of looking at chess and applying the wisdom to investing.

The topic is their book Rich As A King: How the Wisdom of Chess Can Make You a Grandmaster of Investing.

In this episode of Trend Following Radio we discuss:

Polgar's early history as a four-year-old chess playing prodigy, and the trouble some older males had in accepting her; nurture vs. nature; the connection between the Turtle story and chess; the skills that chess provides outside of just playing the game; the importance of keeping your emotions in check; process vs. outcome; and thinking through the possibilities from a chess perspective.
Douglas Goldstein, Covel discusses how the idea came about to combine finance with chess in a book; tactics vs. strategy; and pattern recognition

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.
0:26.6	I am your host, Michael Covel, not filtered, raw, honest.
0:39.3	That's my passion. My guest today, back-to-back interviews are the co-authors of a book called Rich as a King,
0:43.6	How the Wisdom of Chess Can Make You a Grandmaster of Investing.
0:50.9	Susan Polgar, a American Chess Grandmaster, and Douglas Goldstein, certified financial planner,
0:57.9	had the unique idea of looking at chess and applying the wisdom to investing.
1:01.9	Now, of course, for me, this is really interesting, even though I'm not a chess player,
1:07.5	because one of the criteria, one of the things that Richard Dennis and Bill Eckhart were looking for back in the day when they were doing their turtle experiment
1:11.4	were chess players. Susan has a fantastically interesting background, Hungarian-born American
1:18.0	chess grandmaster. There are not many of them. I think she says in the interview around
1:22.0	1500 total was a child prodigy and has won just about everything there is to win.
1:29.6	And to hear her recollect the stories of her as a four-year-old,
1:35.0	beating grown men in chess.
1:37.3	Just fascinating.
1:39.2	The lessons that we can all learn from the way that she thinks,
1:43.3	the way that she looks at the world, the way that
1:45.4	she figured out how to master chess, insightful.
1:51.6	I hope you enjoyed these conversations with Susan Polgar and Douglas Goldstein.
2:03.1	Hi, how are you? Hey, Susan, how are you?
2:04.2	Hey, Susan.
2:04.8	How are you?
	...

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