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Michael Covel's Trend Following

Ep. 652: Asymmetric Information and Entrepreneurship with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6730 Ratings

🗓️ 23 April 2018

⏱️ 30 minutes

🧾️ Download transcript

Summary

Please enjoy my monologue Asymmetric Information and Entrepreneurship 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

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.

0:27.4

That's my passion.

0:33.1

The sexiest word you hear thrown about, and I'm guilty of this, entrepreneurship, to be an entrepreneur. 99% of the population. I don't care what country you're in, what state, what city. 99% of the population, not entrepreneurs.

0:56.1

Maybe that's wrong, I'm guessing, but I'm going to say 99% based on my own sampling

1:01.6

of just regular people over the last 20 years.

1:05.9

Now, I thought this was going to be different when Netscape went public in 1995. I thought there would be an avalanche

1:14.6

of entrepreneurs. And perhaps there was during the dot-com bubble and perhaps the dot-com bubble

1:21.5

washed people away. We're seeing some rise in entrepreneurship again with crypto, I think.

1:31.5

But is this stuff really being an entrepreneur?

1:35.8

I mean, if a wave happens, the dot-com bubble, crypto, and you're not doing anything other than

1:42.2

going along for the r ride with no particular plan.

1:47.3

Yeah, it's not really being an entrepreneur.

1:51.4

Being an entrepreneur is something visceral.

1:54.1

It's deep down.

1:56.5

And there's a starting point.

2:00.2

There's a starting point for being an entrepreneur.

2:03.0

Where I'm going to go today, I'm going to bring in three different pieces, things that I did not

2:07.7

write, but that are really great to me.

2:11.7

A very old Tim Ferriss blog post called the Top Five Re to be a jack of all trades. First.

2:19.7

Second, why entrepreneurs start companies rather than join them by guy named Steve Blank,

...

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