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.

This episode today proves something that I've had deep in my gut for a long time, at least since I started this series, this podcast series in 2012.

Older guys make great interviews.

I mean, of course, if you have more age, more experience, you're a more interesting

person. That's an easy to understand principle. But you know what? As a society, we really don't

live and act that way. In fact, many times, I don't think ostracize is the right word, but we don't reach out enough to the more experienced voices.

So anytime I can find two epic, very experienced guests and reach back into my back archives and pull them forward to today, I will.

The two guests today, Tom DeMarc, Perry Kaufman, if you can't learn something from these men,

again, I say this on the podcast quite a bit.

If you can't learn something from these two men, retire.

Stop doing what you're doing. Stop the information flow.

Go back to doing something really easy. I was a bartender for a year one time in my early

20s. Go do that. That's fun. I had a lot of fun being a bartender. But if you're going to engage with the world,

if you're going to learn, if you're going to embrace, these are the two types of guys

you want to have in your mind. I hope you enjoy reaching back into my archives, first with Tom DeMarc and followed up by Perry Kaufman.

Saw this in a comment of yours, and you were essentially saying that all conceivable market

factors are in the price movement. That's a fair, fair view of yours, right? Yes, it is. I think

everything is bottom line price. When did you, when did you first come to that realization and how did it happen?

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