Ep. 805: Allison Schrager Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 11 October 2019

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Allison Schrager, an economist, journalist at Quartz, and co-founder of LifeCycle Finance Partners, LLC, a risk advisory firm. Allison diversified her career by working in finance, policy, and media. She led retirement product innovation at Dimensional Fund Advisors and consulted to international organizations, including the OECD and IMF.

The topic is her book An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk.

In this episode of Trend Following Radio we discuss:

Schrager equips readers with five principles for dealing with risk, principles used by some of the world’s most interesting risk takers. For instance, she interviews a professional poker player about how to stay rational when the stakes are high, a paparazzo in Manhattan about how to spot different kinds of risk, horse breeders in Kentucky about how to diversify risk and minimize losses, and a war general who led troops in Iraq about how to prepare for what we don’t see coming.

Jump in!

---

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.
0:24.0	Not filtered, raw, honest.
0:27.4	That's my passion.
0:33.5	So let's say you're in the airport.
0:36.2	You're walking through.
0:37.5	You want to buy the new book. And you'll So let's say you're in the airport. You're walking through.
0:40.2	You want to buy the new book.
0:54.3	And you look up and there's a blue book with yellow lettering and it says an economist walks into a brothel and other unexpected places to understand risk.
0:58.3	Now, you got to give that author credit.
1:00.4	That title stops you.
1:04.3	An economist walks into a brothel.
1:10.1	And the economist that happens to walk into the brothel is female, not male. My guest today is Alison Schrager, and she really is
1:16.9	the economist that walked into the brothel, like literally, serious, true, as she will explain.
1:25.0	I love the word risk. She clearly loves it too. Because, you know,
1:30.2	whether we think about it or not, every day, we take these big risks. We take these small risks.
1:38.0	But we can't opt out of the risk. The risk doesn't go away. We can't just say, oh, no, we're not going to be
1:46.2	involved in society. We're not going to be involved in risk. Allison has gone down the path
1:53.1	to pull together what she sees five of the most important principles for dealing with risk,
2:00.6	principles used by some of the most important thinkers today dealing with risk, principles used by some of the most important
2:02.6	thinkers today in their risk analysis. Because let's face it, it's all about mitigating
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Michael Covel, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Michael Covel and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.