This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel, not filtered, raw, honest.

That's my passion.

And every time I hear that song, and I'm not some big fighter or anything like that,

but every time I hear that song, I want to put a pair of steel-toed boots on, go to Boston,

and get into trouble.

That song just reeks of trouble.

But no trouble today on this podcast.

Just some thoughts, some excerpts,

pulling from here and there to try and bring an interesting point across.

One of the great things about the author, Jack Schwager, is he created the concept in trading books of timelessness,

especially in his book, The Market Wizards, and his book, The New Market Wizards.

Jack went ahead, and this is going back to what, 1988, 1989, 1999, Jack laid out very cleverly through interview with some of the best investors and traders around.

And still to this day, many of those names, you don't forget them.

But what he did was weave throughout those two books.

Timelessness, principles, risk management, basic trading precepts that don't change.

Human nature doesn't change. So for those of you that might say to yourself, what good is a book written 25 years ago?

Well, you sort of missed the point.

The reason Daniel Kahneman, the reason Vernon Smith won the Nobel Prizes for their behavioral economics

and behavioral finance work, I would argue, can be originally found in Jack's books.

It's right there. The thinking, the thought process, you can't miss it it's a grounding

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