Sushil Kedia Interview; Trend Following with Michael Covel

Also on iTunes.

Synopsis: Michael Covel talks with Sushil Kedia in his first podcast to India. Kedia is leading the charge in bringing technical analysis and trend following to India and beyond. Covel and Kedia go deep and get into some heady philosophical and spiritual areas, but ultimately the topics they hit on get to the root of good buy and sell decisions in the market. Kedia gives one of the best overviews of how one should think about the mind in terms of trading and making money. Covel and Kedia discuss Kedia’s beginnings: Kedia is an 8th generation speculator, and they discuss the unfortunate negative connotations behind speculation and why it’s ultimately a nobel direction integral to the markets and life in general. They go on to discuss Kedia’s early beginner’s luck and the training imposed on him by his father early on that taught him the value of money. Kedia eventually moved into a postgraduate course in accounting where his ideas about markets and finance started to congeal. He came to the conclusion that his own understandings of market movement were not enough, and he came accept the concepts of the unknowable known and the knowable unknown. Kedia notes: “Money is actually a human idea, and all the formulas in accounting and thereafter in finance and in management [...] are only [in the] human imagination.” Kedia and Covel further discuss crowd mentality in regard to the markets and self-organizing, pattern-seeking systems; the spiritual aspects of his profession, and how it allowed Kedia to overcome the illusion of knowledge and to appreciate the moment rather than living in the past or future; comparisons between Western and Eastern understandings of philosophy and spirituality, and the importance of “flow” and living in the present moment; the use of formal education; the importance of risk; technical analysis in America and India, and whether Indians are more apt to accept technical analysis v. Americans; why certain individuals might never take up trend following or technical analysis; and how taste and preference are applicable to risk and trading. Free trend following DVD:

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