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Michael Covel's Trend Following Film: Broke

4.5 out of 5 stars 79 customer reviews

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Editorial Reviews

"Shocking expose...not a partisan film."
The Huffington Post

"Ambitious...in beautiful imagistic fashion."
Big Hollywood

Description: Michael Covel traveled 75,000 miles across 3 continents to learn how great traders think and act. Face-to-face with Nobel prize winners, pro poker players and legendary trend following traders, Covel breaks new ground in trend following trading, human psychology and behavioral finance. Want to know how millions are made in up and down markets? Want to know how fortunes are made when the rest of the world implodes? Real solutions beyond the chaos and noise of 24-hour spin cycles. Fast-paced, informative, and honest; this is a smart narrative with a timeless edge. The solution doesn't require a crystal ball, The Fed or Congress. This controversial and original film reveals how winners really make fortunes. OFFICIAL shrink-wrapped *collector's edition* DVD direct from Michael Covel's Trend Following firm and shipped by Amazon.


Product Details

  • Directors: Michael Covel
  • Format: Color
  • Language: English
  • Region: Region 1 (U.S. and Canada only. Read more about DVD formats.)
  • Number of discs: 1
  • Rated:
    Unrated
    Not Rated
  • Studio: Nature Nurture Productions LLC
  • Run Time: 85 minutes
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (79 customer reviews)
  • ASIN: B002L2I65G
  • Amazon Best Sellers Rank: #134,952 in Movies & TV (See Top 100 in Movies & TV)

Customer Reviews

Top Customer Reviews

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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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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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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Format: DVD Verified Purchase
Michael Covel has done a great job filling the void in documentaries about the financial crises with one that not only shows the people who lost with over leveraged mortgage payments they couldn't afford but the traders who were able to step in and profit from the trend.

Covel's documentary was both entertaining and informative explaining how the Federal Reserve's lowering of interest rates after the Dot Com bubble burst helped fuel the housing boom. Of course the banks failure to even under write loans properly with income verification sped up the whole bubble situations.

You will see the losers: people who bought houses they could not afford, buy and hold stock market investors, tax payers, bankrupt investment banks,people that were flipping houses and got stuck,housing developers, and insolvent home loan originators.

You will also see the winners: the trend following traders who made money in October of 2008 by being short stocks and bank executives with their huge bonuses based on their banks earnings before the crash.

Here are some great insights from the movie:
Poker is the only casino game where you can put the odds in your favor.
The art of the fold is the most important skill in poker.
Just going with what the herd is doing with out individual thought is dangerous.
It is possible to make money trading in any market with the right strategy.
The art of the stop loss is the most important skill of the trader.
Self responsibility is the solution to majority of problems plaguing our nation.

I really enjoyed the tie ins with older commercials from the 50's it was fun to watch the economic principles taught even back then.

The insights for trading success by the rich traders in this video is well worth the price of admission.

This is a must buy for aspiring traders and people who want to really get a more balanced view of the financial crises than just the liberal media.
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