Ep. 507: Lanny Bassham Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 2 December 2016

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Lanny Bassham, an Olympic gold medalist. After falling short in the 1972 Olympics winning the silver medal rather than gold, Lanny went home and re-applied himself. He returned to the 1976 Olympics and won the gold medal in rifle shooting. For the past 40 years, he has provided "Mental Management" training programs to clients including PGA Tour golfers, Miss America finalists, CEOs, US Navy SEALs, SWAT teams, and the FBI. In addition, Bassham briefly headed the U.S. Olympic shooting team and has operated the company Mental Management Systems with his wife Helen in Flower Mound Texas since 1977.

The topic is his book With Winning in Mind.

In this episode of Trend Following Radio we discuss:

Creating a mental process
Changing your self image
How the top 5% think
Hard work in practice vs. Hard work in tournaments
Thinking of process not outcome
Valuing performance not just participation

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 Covel.
0:24.0	Not filtered, raw, honest.
0:27.4	That's my passion.
0:33.1	Let me go back in time.
0:35.7	1972.
0:37.4	Munich, Germany, the Olympic Games.
0:40.6	My guest today was there, and he failed.
0:45.5	How did he fail?
0:47.9	He got a silver medal.
0:50.8	That's right.
0:52.0	He failed because he got a silver medal. That's how he viewed it. Anything less than gold? Failure. In his mind, that's how he viewed it. He came back to America. He rededicated himself and he developed what he calls mental management because he knew his
1:14.1	error that cost him the gold medal in the Olympics was in his own mind.
1:21.4	And he knew he could fix it.
1:23.6	He didn't yet know how he could fix it.
1:26.5	And there's quite the backstory about how he learned how to fix that mental side of the equation, but he did.
1:34.3	And at the next Olympics, he got gold.
1:38.0	My guest today is Lanny Bassam.
1:41.0	I hope you enjoy this conversation because, wow, it's one wild ride of inspiration.
1:48.7	Because if Lanny doesn't inspire you, I don't know what to say.
1:52.5	You've got no pulse.
	...

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