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Michael Covel's Trend Following

Ep. 54: Steve Burns Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 5 September 2012

⏱️ 60 minutes

🧾️ Download transcript

Summary

My guest today is Steve Burns. Burns has been investing and trading in the stock market successfully for many years. He is the author of seventeen books about the stock market. He is one of this site's top reviewers for books about trading and investing having read and reviewed several hundred books.

The topic is his book New Trader, Rich Trader: How to Make Money in the Stock Market.

In this episode of Trend Following Radio we discuss:

  • Tech bubble of the late 1990s
  • Chapter titles in Burns' book
  • Problems with buy and hold
  • How "rich" can be a mindset rather than a number
  • The role of luck and circumstance in trading
  • Staying away from the need for constant action and waiting for the "fat pitch"
  • Developing a robust system
  • Staying away from predictive trading approaches
  • Viewing the markets as a video game as a means to help with trend trading understandings

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, not filtered, raw, honest.

0:27.3

That's my passion.

0:33.6

Before I start with my guest today, I want to read something that I really enjoyed that I found over the weekend.

0:41.6

It's called What You Need for Happiness.

0:44.9

So what does make you happy?

0:47.0

What do you need for happiness?

0:48.8

You can strive for happiness and external things all you like, house, job, car, a loving partner, food, drug, shopping.

0:57.0

But those don't make you happy, at least not for long. And when they don't give you continual

1:01.3

happiness, then you have to keep striving for more. And your happiness is always the subject to the

1:06.6

whim of these external things and people. You can also find happiness within. You can learn that you

1:13.8

have some amazing things inside you, that they're beautiful if you learn to accept them for what they are,

1:18.6

and not try to meet up with any fantasy. You can learn that life is always amazing, as it is,

1:24.4

without the fantasies. And because the happiness is within, you aren't subject to losing it because people

1:31.0

aren't in the right mood or because of external events changing your source of happiness.

1:35.7

This means stripping away the fantasies one by one.

1:38.9

It means looking within and learning to be okay with what you find.

1:43.7

It's not an overnight process, but the amazingness is already within you.

1:48.0

It's all around you and actually within and without or not different things.

1:52.2

No fantasies needed.

1:54.0

I just thought that was a great excerpt.

...

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