Ep. 67: Rich Thoughts & Poor Thoughts with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Michael Covel
4.6 • 732 Ratings
🗓️ 9 October 2012
⏱️ 24 minutes
🧾️ Download transcript
Summary
Please enjoy my monologue Rich Thoughts & Poor Thoughts 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. I am your host, Michael Covell, |
| 0:24.6 | not filtered, raw, honest. That's my passion. So I got forwarded this interesting article called 21 Ways, |
| 0:40.8 | Rich People Think Differently than Average People. |
| 0:43.7 | I'm going to go through them. |
| 0:44.6 | I think these are good. |
| 0:45.4 | These are worth thinking about. |
| 0:47.2 | And, you know, the word rich, look, we get to say high character people because, look, |
| 0:52.5 | there's plenty of folks, and I've met them. |
| 0:57.8 | There's plenty of folks that I know that have no money and they're schmucks. |
| 1:01.2 | There's plenty of people I know that have lots of money and they're schmucks. |
| 1:05.5 | So I'm a little torn about the word rich in general. |
| 1:08.4 | But anyways, let's go through with the, just read some of these. |
| 1:10.9 | Average people think money is the root of all evil. |
| 1:14.4 | Rich people believe poverty is the root of all evil. |
| 1:20.7 | You know, because average folks, do they just think rich people are just lucky or dishonest? |
| 1:22.3 | Some of them are, okay? |
| 1:23.4 | But a lot of them aren't. |
| 1:25.3 | Most of it's really about hard work. |
| 1:28.8 | And, you know, so money is not the root of all evil. |
| 1:30.6 | Money is just a tool of exchange. |
| 1:32.1 | It's a medium of exchange. |
... |
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