Ep. 39: Eric Prentis Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 27 July 2012

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Eric Prentis, a stock market investing and trading expert. He has experience as a registered investment adviser, as a teacher and researcher on the faculty of the University of Southern California's graduate school of business, and as a stock market fund manager. He is the author of "The Astute Investor, 2nd ed.," and "The Astute Speculator," which are interesting to read, easy to understand and present the best advice from the masters.

The topic is his Zero Hedge article Everything You Know About Markets Is Wrong.

In this episode of Trend Following Radio we discuss:

Prentis lays the foundation for the credit crisis and everything that started to unfold in the summer of 2007
How we got there, and the approaches we're taking to getting out
"Financial psychopaths" - and whether the public might be complicit in Wall Street's behavior
Why the "wealth effect" isn't working today
How zero interest rate policy (ZIRP) is affecting us, and why there isn't an uproar against it
Why four years into the credit crisis, we still aren't seeing improvements
Using more debt to keep the debt cycle going (and why it's a dead end)

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 Coval.
0:24.0	Not filtered, raw, honest.
0:27.3	That's my passion.
0:33.1	So today on the show I have Dr. Eric Prentice,
0:36.8	and I think you're going to really enjoy this.
0:39.3	Eric brings a wealth of experience and background professor at University of Southern California,
0:46.6	author of the astute investor and the astute speculator. Both books are on Amazon. And the reason
0:52.5	I spotted Eric initially was a zero hedge piece.
0:57.8	And, you know, the first thing I have to say is I have to read just the first sentence.
1:01.2	We're to go into all of this.
1:02.4	But the beginning of the article was the financial elite using academe for intellectual cover.
1:09.2	They want you to believe that the markets are efficient as defined by the efficient market theory.
1:13.6	My research strikes down this hoary old EMT economic dogma used by duplicitous bankers and hedge fund managers,
1:20.9	decon, U.S. politicians, and 99% of Americans.
1:24.3	Eric, a bear hug, please.
1:28.0	Hi, Mike.
1:28.9	How are you?
1:29.8	I'm very happy to be on your program, and I'm a big fan of your trend following system.
1:34.6	Well, thank you.
1:35.2	Thank you.
	...

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