Michael Covel's Trend Following Film: Broke NR

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Director Michael Covel traveled 75,000 miles over 3 continents to find moneymaking solutions from top trend following traders. David Harding, Larry Hite, Jim Rogers & Salem Abraham (to name a few) bring Covel's hopeful & unique vision boldly forward. Covel is also the bestselling author of four books, including the modern classics Trend Following and The Complete TurtleTrader.

Runtime:
1 hour, 25 minutes

Available to watch on supported devices.

Michael Covel's Trend Following Film: Broke

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Product Details

Director Michael W. Covel
Studio Unavailable
MPAA rating NR (Not Rated)
Purchase rights Stream instantly and download to 2 locations Details
Format Amazon Instant Video (streaming online video and digital download)

Other Formats

Customer Reviews

It shows us also how easy it is to manipulate with human behavior in financial markets.
Igor Mujdrica
These guys have made it big and just listening to the way they speak and think makes you realise how good they are.
Richard Thomason
Michael's products can help people to be successful and the methods he presents have proven out to actually work.
Jesse Barkasy

Most Helpful Customer Reviews

18 of 18 people found the following review helpful By Richard Thomason on November 20, 2009
Format: DVD
In this DVD, Michael Covel himself travels around the world just after the Banking/Real Estate collapse of 2008/9 and interviews:

Real estate agents - Covel drives around with an agent and looks at the devastation of vacant neighbourhoods and abandoned homes. A scene I found funny was when he stood on a proposed development in Delray Beach, Florida. He gets an agent on the line and says "I mean seriously it doesn't look like there is going to be a home development here for the next 10 years." The agent replies "yes". Aside from this this section is sad. I feel speculators should have known what they were getting into but it is still sad nevertheless.

Poker players - Some of these guys are professionals and make millions from playing Poker, one of the few casino games where one can beat the house. Being a good poker player brushes up your trading skills. The best player doesn't necessarily win the most hands. They just bet when the probabilities are more stacked in their favour.

Lottery players - Millions of ordinary people think they are going to get rich in a game where the odds are simply stacked way against them.

Traders (Larry Hite, Salem Abraham, Jim Rogers, Peter Borish, Jonathan Hoenig, David Harding, Kevin Bruce, Barry Ritholtz and more) - I enjoyed this part the most. These guys have made it big and just listening to the way they speak and think makes you realise how good they are. Furthermore, most MADE money by going short and taking advantage of the crash. On the flipside, those who bought 5 condos for nothing down are left without their shirt.

There is also footage of the crashes in 1929, 1972, 1987, 2000 and 2008, outlining the herd mentality of people who would rather be right & wrong with the herd than wrong and all alone...

The DVD is extremely watchable and I think when the next steamy bubble unfolds, it will be a gentle reminder that the world can be a scary place at times.
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15 of 15 people found the following review helpful By Patrick J. Stiles on December 8, 2009
Format: DVD
This film is quite impressive. Covel travels the globe and interviews big name people from Poker campanions to Jim Rogers, Salem Abramah, Larry Hite, and Charles Faulker. Many of whom were original Market Wizards. He starts with a basic question regarding the state of the economy and the investment game - so many of us want to get ahead, but why can't we? He analyzes the current crisis but doesn't waste time trying to explain all the "whys" of the situation (enough people are already doing this). He covers the effects, and points out there have always been booms and busts.

One of my favorite parts is his coverage of the state run lottery systems, where America spends around $50 billion annually on lottery games. With the odds of these games in mind, Covel points out that we obviously do not understand numbers. Furthermore, this government run lotteries are actually hidden taxes on the poor (the biggest buyers of lottery tickets).

The real gem in the video is he shows how the Jim Cramer's, CNBC's, etc. do not know what is going on. Their business is to sell advertising by having the highest ratings. Their system is to keep up the status quo, and from this angle it is impossible to get ahead. BUT(!) he says there is a solution for all of us that want to get ahead, and that is trade or invest with a mathematical advantage, and to stop eating the crap that CNBC and company shovel out on a daily basis. I love Covel for going against the grain and telling it how it is!
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7 of 7 people found the following review helpful By Amazon Customer VINE VOICE on March 16, 2011
Format: DVD
One of my major complaints about Michael Covel's film is that it seems a bit unfocused, the pacing is a bit lethargic in some places, and the editing is off. This sounds like a bit of a harsh critique, but I assure you the film is still worth it. Broke is one of the more entertaining documentaries out there, with a lot of information on a little known subject of how many people have beaten the markets for years and years, and that's through the method of trend following.

Michael Covel has made a career of teaching the mechanical method of Trend Following, a strategy of buying stocks/futures/currency and the such at new highs, and shorting them at new lows, never averaging losers, never trying to pick the top or pick the bottom. He goes through the housing market crisis, he goes after CNBC, which, in my opinion, is the Halmark of this film.

He is not crude, or mean, or offensive, he doesn't insult, just questions the logic, and lets the experts speak from there. Even the experts that have been on the show like Barry Ritholtz or Timothy Sykes that had been on other such shows, reveal their scepticism over how valid some of these things are, almost everyone claiming they wouldn't invest in anything that CNBC said, just because it was on their show. The experts get it wrong all the time. He especially goes after Jim Cramer, for whose loud banter, complete assault on one's senses--sounds, images, and emotional intrigue--becomes a labyrinth of crazy ideas on investing. Now, Covel, who stands against the concept of fundamental investing, who thinks the worst advice an investor or trader could ever take is to average losers, has especially harsh criticisms, and again allows the experts their critiques.
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4 of 4 people found the following review helpful By Jon H on December 8, 2009
Format: DVD
In this film Covel asks a lot of questions. But a main point is to get people to think about who is responsible for their financial situation. Are you willing to take responsibility for your situation or is it more comfortable to blame others? Watch this video and decide if you want to be broke or willing to work to be successful.
This film is worth every penny if you are willing to think about the what Covel is trying to communicate.
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