Ep. 821: Chris Varelas Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 5 December 2019

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Chris Varelas, a co-founding partner of Riverwood Capital. Prior to establishing Riverwood, Chris worked at Salomon Brothers/Citi as Global Head of Technology, Media & Telecom Investment Banking, Head of Citi’s National Investment Bank, member of Citi’s Global Operating Committee and Culture Czar for all of Citi. Chris was selected as one of the 100 most important deal makers by the New York Times and was named top “rainmaker’ in the technology sector by Dealmaker Magazine. Chris earned an MBA from the Wharton School of Business and a BA from Occidental College in Los Angeles, California for which he serves on the Board of Trustees. He is a moderator for the Aspen Institute for which he recently founded the Aspen Finance Fellows program created to produce effective enlightened leaders in the financial services industry.

The topic is his book How Money Became Dangerous.

In this episode of Trend Following Radio we discuss:

Chris brings a provocative and entertaining voyage into the turbulent heart of modern money that sheds new light on the rise of our threatening and complicated financial system, how money became our adversary, and why finding a new course is crucial to a healthy society.

Jump in!

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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.
0:10.9	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.
0:33.3	I just saw this Ray Dalio article the other day, the head of Bridgewater, laying out his
0:40.2	perspective for the new paradigm that's fast approaching.
0:45.6	My guest today knows something about that new paradigm.
0:50.0	He talks about it in his new book, How Money Became Dangerous,
0:55.1	The Inside Story of Our Turbulent Relationship with Modern Finance.
0:59.0	The author of that book, Christopher Varellis, on my podcast today.
1:04.4	We dive into all of the issues starting back in the 80s, bringing us up to current.
1:10.1	What is modern finance today? What are the
1:12.4	problems that we are facing? And what can we possibly do about it? Chris has had the chance to be at
1:19.4	several prominent Wall Street banks, including Solomon Brothers. He is responsible for
1:25.4	brokering some of the biggest mergers and acquisitions in finance in the last 30 years.
1:30.2	I really enjoy these kinds of conversations to get behind the scenes, to understand what's going on,
1:37.3	to have the conversation, to have the debate.
1:40.9	Because we all know deep down, negative interest rates, stock prices that go to the moon, someday we will all pay the Piper.
1:53.7	And these are the exact issues that Chris and I jump into today on our conversation.
2:00.2	Without any further delay, let's jump right into my conversation with Christopher Varellas.
2:22.0	I loved your art of not thinking. I thought that was spot on. As a son of Greek immigrants,
2:27.9	I love your suggestion of wrestling naked. I thought that was just perfect. You are right there in the headspace of interesting topics today. And I should say first from the very top, and you could tell me
	...

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