25 minutes | Sep 28, 2015

Ep. 384: Living by Your Own Rules with Michael Covel on Trend Following Radio

On today’s show, Michael Covel talks about decision-making, and how too often people allow the "rules" of others to dictate the actions they take. This, as Michael explains, is indicative of the politically correct culture that’s taken root in all of society.

What are we to think when wildly successful comedians such as Jerry Seinfeld, Louis C.K, and Chris Rock flat-out refuse to play college campuses because of the close-minded, irrationally sensitive nature of today’s student bodies? How have we arrived at a place where anything less than absolute conformity to preselected attitudes and beliefs means running the risk of being labeled "something"? Racist? Homophobic? Sexist? The list goes on.

What’s worse, as Michael points out, is that this culture of victim-hood has many feeling they’re entitled to certain things simply because they "exist". These are the people who blindly accept societal rules, rather than analyze and develop proper strategy. Good decision-making, whether in trading or everyday life, means developed a plan and a set of rules and then sticking to them. Because in the end, everyone gets what they want (to paraphrase trader Ed Seykota).

In this episode of Trend Following Radio:

  • Good decision-making through clarity
  • Examining identity politics
  • Operating under your own rules
  • Political correctness: it’s about agendas
  • Good trading means using your system and your mind
  • The importance of staying focused

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