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Michael Covel's Trend Following

Ep. 970: Hubert Joly Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 10 May 2021

⏱️ 52 minutes

🧾️ Download transcript

Summary

My guest today is Hubert Joly, the former Chairman and Chief Executive Officer of Best Buy Co., Inc. where he led the company's turnaround and transformed it into an industry leader, consistently rated one of the best places to work for. He is now a senior lecturer at the Harvard Business School. He has been recognized as one of the top 100 CEOs in the world by Harvard Business Review, one of the top 30 CEOs in the world by Barron's.

The topic is his book The Heart of Business: Leadership Principles for the Next Era of Capitalism.

In this episode of Trend Following Radio we discuss:

  • Leadership Principles
  • Hubert Joly at Age 16
  • Work Definition
  • How Do You Show Up As A Leader
  • Process vs Outcome
  • Noble Purpose

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

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.

0:26.6

I am your host, Michael Covel, not filtered, raw, honest.

0:40.1

That's my passion. If you're an American, you probably know about the company Best Buy, a big box store with electronics.

0:42.7

It's been around for a long time.

0:48.5

What you probably don't know is that it almost died about a decade ago, 2012.

0:55.6

Then they hired a CEO, a guy named Hubert Jolie, and he turned the company around.

1:04.7

This was no small project, no small feat, taking a company in the wake of the Amazon explosion,

1:11.0

a big box retailer, and moving it forward and kicking some tail.

1:15.4

Today, Hubert and I discuss his new book, The Heart of Business,

1:19.0

Leadership Principles for the Next Era of Capitalism.

1:22.8

But we also discuss that turnaround of Best Buy,

1:25.9

because that's the fun thing of this podcast,

1:30.0

to get behind the scenes to find out how the leaders,

1:36.6

the big dogs, do something at the highest level. Now you might say to yourself, how is that relevant to me? If you don't think there's a lesson and how Best Buy turned it around,

1:43.8

that you can use that lesson for your own life and

1:46.8

apply it to your own life. You've already lost. Look, we don't have enough time in a lifetime

1:52.9

to make all the mistakes to learn everything. So we have to learn from other people. We have to

1:58.4

live vicariously through them. And today we get to live vicariously through them.

2:06.6

And today we get to live vicariously through the former CEO of Best Buy and learn how he turned Best Buy around.

2:09.0

Without any further delay, let's jump right into my conversation with Hubert Jo Lee.

2:14.0

Talk a little Best Buy and a little of the heart of business.

...

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