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Michael Covel's Trend Following

Ep. 981: Equality v. Equity with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6732 Ratings

🗓️ 18 June 2021

⏱️ 19 minutes

🧾️ Download transcript

Summary

Please enjoy my monologue Equality v. Equity 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

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.

0:39.8

That's my passion. I might get a little controversial today. Gee, that sounds like a common warning to my monologues.

0:42.2

And I might drop a few F bombs.

0:45.0

I will try my best to not.

0:46.7

Here's where I want to start.

0:49.6

The famous economist Thomas Sol.

0:51.4

Happens to be black.

0:54.3

Happens to be smart as hell.

1:02.6

He says, if there is not equality of outcomes among people born to the same parents and raised under the same roof, why should equality of outcomes be expected or assumed when conditions are not

1:10.0

nearly so comparable? Question mark, end quote.

1:13.6

A fantastic famous line from Thomas Sol. You have to be a fucking moron to disagree with him.

1:24.3

Literally, intellectually vapid, no gray matter matter or on the other side you're a power hungry lunatic

1:33.6

who just wants to take the other side because you know you've got an army of lemmings and morons

1:39.2

that you're in charge of and they'll believe whatever you tell them. That's the options. But straight up,

1:45.3

we can all acknowledge, I hope we can all acknowledge, I hope as thinking people, we can all

1:49.7

acknowledge that Thomas Sol is correct. I went ahead and I added a little bit to it. I said,

1:55.8

here's a simple rule to keep in mind. People who talk of equal outcomes, question mark, would steal money from a

2:03.2

grandma and a wheelchair every time without fail. It's my typical direction to take something from

2:10.6

a very smart guy like a Thomas Sol and adds something that brings it down to the street level,

2:16.7

to the raw level. Because if you are

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