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.

Are markets efficient?

Can you beat the market?

And is the market the right price?

This is the big issue. So much of today is grounded in that very, very simple sounding thought.

Can the markets be beat? Of course the markets can be beat. They have been beaten.

There are decades and decades of track records to prove that you can do better than a passive index.

Don't take my word for it.

Do your homework.

Now, I can't give you all of the homework today, all of the details, all of the pieces of

evidence, but it's pretty easy if you go nibble around the edges of my world to find it.

Whether it's on this podcast, my books, my website, you will find the information, you will

find the data, the hardcore data that shows you that the market can be beat.

Now, academically, the debate is great.

Academically, you have the efficient market hypothesis and the behavioral school.

The efficient market hypothesis says the markets can't be beat. Really, it has no great explanation for what happened in October of 2008.

And the behavioral side of the equation says we're all just bad shit crazy. We're not rational.

I don't really think to a man, to a woman.

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