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.

By the magic of a flight from Ho Chi Men City, Vietnam to Tokyo, Japan, to San Francisco in the United States of America, to Las Vegas.

That's where you find me today, in Las Vegas at the Bellagio.

Now, I have to admit, it's quite the journey, quite the hike

to make it over for a conference. I won't do it all the time, but it's worth it. And you know what?

I like flying on A&A. They're such an easy airline.

Japanese carrier, I highly recommend them when flying into Asia and out of Asia.

Today, while I am running around Las Vegas, I want to reach back into my archives and give you something that is very special to me, an episode very special to me.

This is Ed Seikota's second appearance on this podcast. My history with Ed, my meeting, Ed, goes back to 2001, I believe, for the first time,

on an island somewhere in the Caribbean. And before I go too far, let me remind those that are not aware, perhaps the best-selling

market book of all time, the Market Wizards by Jack Schwager, features one Ed Sikoda.

And in that feature, it features one of the best market quotes ever, and I paraphrase a little, but everyone gets what they want out of the markets.

That means if you lose a lot, you want to lose, if you win a lot, you want to win.

All other things being equal, and it's a philosophical construct by Ed and a quite brilliant one.

But going back to 2001, that first meeting with Ed Sakota, it actually happened because I, in my infinite wisdom in the early days of the

internet, registered the domain name Edsakota.com. Now, I had no evil intent. I registered a lot of domain names. I made actually

decent money off some domain names, not because of personal domains, but crazy ones like ulcer.com,

pregnancy test.com. Yes, I actually registered those and made significant money. But that was the

randomness of the early internet days, and that was one of the

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