Ep. 401: Ben Carlson Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 27 November 2015
⏱️ 45 minutes
🧾️ Download transcript
Summary
My guest today is Ben Carlson, the Director of Institutional Asset Management at Ritholtz Wealth Management. He's been managing institutional portfolios for my entire career. He started out with an institutional investment consulting firm developing portfolio strategies and creating investment plans for various foundations, endowments, pensions, hospitals, insurance companies and high net worth individuals. He was part of the portfolio management team for an investment office that managed a large endowment fund for a charitable organization.
The topic is his book A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan.
In this episode of Trend Following Radio we discuss:
- Diversification
- The purpose of a long only commodities investment
- Speculation
- Index funds
- Having a plan
- Risk and Reward
- Saying no
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. |
| 0:20.7 | I am your host, Michael Covel. |
| 0:23.1 | Not filtered, raw, honest. |
| 0:26.4 | That's my passion. |
| 0:31.9 | My guest today has Ben Carlson. |
| 0:34.6 | Ben is the director of institutional asset management at Rittholz's wealth management. |
| 0:39.5 | That would be Barry Rittolt's firm. Ben first gained quite a bit of acclaim with his blog, |
| 0:45.1 | A Wealth of Common Sense. Following on the blog's success, his book, A Wealth of Common Sense, |
| 0:52.3 | Why Simplicity Trump's complexity in any investment plan. |
| 0:57.5 | Investors and traders can always have debates about the exact particular style of any one strategy. |
| 1:04.6 | But there has to be some pragmatism at the foundational level. |
| 1:08.7 | There has to be clear thinking early on. I think Ben does a great job |
| 1:15.0 | bringing across clear thinking to investors. One can quibble on the margins. One can argue over |
| 1:22.2 | this strategy or that. But clear thinking is absolutely 100% the bottom line. I hope you enjoy this conversation with |
| 1:34.2 | Ben Carlson. |
| 1:41.0 | Okay, Ben, so I'm going through this relatively new work of yours, a wealth of common sense. |
| 1:47.8 | And I think one of the first things that comes to mind for me, given your experience so far, |
| 1:54.2 | how many people, and I guess I don't know how to really put this, the quantified or frame this term, |
| 2:00.5 | but in the investment community, |
| 2:02.6 | which includes retail investors, institutional investors, how many people need this message |
| 2:09.1 | that you've put together, this simple trumping complexity? How many people need this message? |
... |
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