Ep. 509: Van Tharp Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 9 December 2016

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Van Tharp. He runs the Van Tharp Institute and is the author of four acclaimed books published by McGraw Hill: Super Trader, Trade Your Way to Financial Freedom, Safe Strategies for Financial Freedom, and Financial Freedom Through Electronic Day Trading. His new book is called Trading Beyond the Matrix. He was also featured in Jack Schwager’s Market Wizard’s: Interviews with Great Traders. Van Tharp received his Ph.D. in psychology, is a certified Master Practitioner of Neuro Linguistic Programming (NLP), a Certified Master Time Line Therapist, a certified Modeler of NLP, and an Assistant Trainer of NLP.

The topic is his book Trading Beyond the Matrix: The Red Pill for Traders and Investors.

In this episode of Trend Following Radio we discuss:

Systems theory
Money management vs. Position sizing
Ed Seykota’s trading and psychology strategies
Tom Basso’s trading and psychology strategies
Yoga
Training your brain how to think

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.
0:21.2	I am your host, Michael Covel.
0:24.0	Not filtered, raw, honest.
0:27.4	That's my passion.
0:33.2	My guest today is Van Tharp.
0:35.3	A repeat guest to this show, originally featured in Jack Schwager's Market Wizard's series, a prolific author, and some really great historical trading insights.
0:50.0	Every time I talk to Van, he tells me something I don't know or I did not know.
0:57.0	I love that.
0:58.7	I hope you enjoy this conversation with Van Tharp.
1:10.5	To Van, in 2013, they awarded the Nobel Prize to Eugene Fama and Robert Schiller,
1:18.3	which at first blush seems contradictory, maybe even several years later, seems contradictory.
1:24.9	How did you feel about that when you, I think I know somewhere where you're
1:28.8	going to go, but how did you feel when you have the one leader of the efficient market cap
1:33.2	and then you have a behavioralist, how did you feel when that was announced?
1:37.5	I think those guys do what they're going to do. I have a longstanding theory and what happens
1:43.1	to Nobel Prizes, which is that Nobel Prize in economics is awarded to the person who comes up with some theory that supports the status quo.
1:51.6	Explain, expand.
1:53.4	Which allows people in the market to say, yeah, this is how the market works.
1:57.1	So you get anything from efficient portfolio theory to who knows what it's it sounds like a good
2:04.5	thing i have all sorts of i'm not an economist anyway but i have all sorts of unique things in the
2:10.8	market and you have this great approach that you've been talking about trend filing for a long time
	...

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