Ep. 579: Mihir A. Desai Interview with Michael Covel on TRend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 11 August 2017

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Mihir Desai, the author of “The Wisdom of Finance: Discovering Humanity in the World of Risk and Return.” Mihir is currently the Mizuho Financial Group Professor of Finance at Harvard Business School and a Professor of Law at Harvard Law School. He wrote his new book with two goals in mind: 1. Demystifying finance and 2. Have people look at finance in a more inspirational way.

The topic is his book The Wisdom Of Finance: Discovering Humanity in the World of Risk and Return.

In this episode of Trend Following Radio we discuss:

Reputation of finance
Diversification
Risk management
Black-Scholes model
Behavioral phenomena
The magic of leverage
The asshole theory of finance
Agency theory

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, not filtered, raw, honest.
0:27.4	That's my passion.
0:33.4	My guest today is a professor at the Harvard Business School and Harvard Law School.
0:39.3	Meher Dissai, born in India, raised in Hong Kong and New Jersey.
0:43.8	Mehir does a fantastic job in breaking apart a subject, finance.
0:49.9	Where most people just go, please take it away, I don't want to see it, I don't want to know,
0:54.8	I can't understand it.
0:58.5	His book, The Wisdom of Finance, discovering humanity in the world of risk and return, is
1:05.6	something that you should read.
1:08.1	Probability, randomness, chance, risk, reward. Oh, you might say, this is only for the
1:16.0	Goldman Sachs types of the world. Far from it. It's for everybody. And if you don't make it for you
1:22.8	in this modern world, I'm not so sure how you will get by. Impossible to get by. But what Mehear does
1:30.7	is he goes ahead and takes this difficult subject and makes it palatable for everyone. I hope
1:38.5	you enjoy this conversation with Meheer Desai. with me here to sigh.
1:53.7	Let me get you to talk broadly about finance.
1:54.1	Here you are.
1:55.6	You're teaching finance at Harvard.
1:56.8	You're teaching law at Harvard.
2:00.1	When you walk across the campus,
2:04.1	even though people might not know who you are, students might not know who you are, but if you were to take a broad cross-section of the university,
	...

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