Ep. 65: The Wishing/Doing Gap with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 5 October 2012
⏱️ 31 minutes
🧾️ Download transcript
Summary
Please enjoy my monologue The Wishing/Doing Gap with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
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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. |
| 0:12.2 | Nobel Prize winners, legendary traders, best-selling authors, and the pros that know what drive us irrational human beings. |
| 0:22.4 | I am your host, Michael Covell, not filtered, raw, honest. |
| 0:28.7 | That's my passion. |
| 0:36.6 | Such a cool old song, isn't it? |
| 0:39.5 | I sometimes feel like I'm floating above and looking down. |
| 0:45.5 | You want to have people to relate to and share with and get them to see the same vantage point at which you see. |
| 0:57.2 | But for a lot of folks, that's difficult. |
| 1:01.2 | And I think the concept that I was thinking about it, I wanted to start this podcast off |
| 1:06.8 | today with a segment. |
| 1:08.3 | And I've talked about this before, and I featured it in my film, |
| 1:12.2 | broke, the notion of the lottery, the idea that you don't have to do any work and you just |
| 1:20.1 | make a bet, some limited bet that takes none of your time, a very small portion of your money. |
| 1:27.0 | You make a limited bet and then you can imagine that your entire world will change in a |
| 1:33.1 | monetarily way, I don't think monetarily is not a word, but in a monetary way, your entire world |
| 1:39.0 | will change by making this one bet. |
| 1:49.1 | And you can see this concept of a lottery society beyond just the notion of buying the scratch-off. |
| 1:53.2 | Let's take, for example, the presidential debate last night, |
| 1:56.8 | Obama Romney. |
| 1:58.6 | It's a lottery mentality to believe that your vote alone will give you some |
| 2:03.8 | stupendous result. I'm voting for Obama. I'm voting for Romney. And then when my guy gets elected, |
| 2:11.3 | my entire world is going to change. It's kind of like a lottery ticket, right? It doesn't work |
... |
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