Ep. 1405: Think Right with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
- 1h 20m
- Transcript
Summary
Written by a model from the transcript; not yet reviewed.
Michael Covel presents a classic archival audio lecture by Napoleon Hill on the principles of personal success, centered on the power of a definite major purpose, faith, and the subconscious mind. Hill and Covel argue that individual achievement depends on unwavering focus, emotionalized belief, and taking personal responsibility rather than drifting or making excuses. Listeners get a foundational masterclass on mental discipline and goal attainment based on Hill's 1937 philosophy from Think and Grow Rich.
Chapters
- 0:00Podcast Introduction and Context
The host opens the episode, briefly mentions current events, and segues into a positive message before introducing the main topic.
- 0:58Key Quotes from Think and Grow Rich
The host reads and reflects on several motivational quotes from Hill’s classic work, emphasizing desire, perseverance, and self-belief.
- 3:00Definite Purpose: The Starting Point of Achievement
The host explains Hill’s concept of a definite purpose, its importance, and how it should be paired with a plan and action.
- 5:00Faith, Confidence, and Overcoming Doubt
The host elaborates on faith as a state of mind, its role in overcoming fear and doubt, and its necessity for achieving goals.
- 12:09Connecting Hill’s Ideas to Trading Psychology
The host draws parallels between Hill’s principles and trading psychology, suggesting that the same mindset can benefit traders.
- 19:04The Power of the Subconscious Mind
The host discusses how repeated thought and belief shape the subconscious, leading to action and success.
- 49:16Practical Steps for Applying Definite Purpose
The host outlines concrete steps—writing, memorizing, and repeating a purpose—to implement Hill’s teachings in daily life.
- 52:15Timing, Flexibility, and Mastermind Principles
The host emphasizes the importance of timing, flexibility in plans, and the value of keeping one’s purpose private to avoid envy.
- 56:38Flexible Planning and Mindset
Explains how to keep plans adaptable and avoid rigid perfectionism.
- 58:11Nature’s Laws and Personal Determinism
Uses natural principles to illustrate the necessity of a definite purpose in human action.
- 1:02:01The Power of Purpose and Faith
Highlights how belief and persistence enable achievement of ambitious goals.
- 1:17:02Closing Reflections and Call to Action
Wraps up with encouragement to apply the teachings and invites listeners to engage with the podcast.
Highlights
- 16:36
Subconscious Mind and Repetitioninsight
The guest explains that any dominating idea held in the mind through repetition and emotionalized with a burning desire is taken over by the subconscious.
- 22:29
The guest states that between ninety-eight and one hundred percent of people sell themselves short because they lack sufficient confidence.
- 36:06
Finding a Million Dollar Titlestory
The guest shares how he talked to his subconscious mind late at night to find the title Think and Grow Rich after hundreds of other titles failed.
- 42:08
Making Circumstancesstory
The guest shares an anecdote where Napoleon dismissed a general's concerns about unfavorable conditions by stating that he makes circumstances.
- 46:03
Accepting Carnegie's Commissionstory
The guest recounts telling Andrew Carnegie he could organize his philosophy despite having no education, money, or influence at the time.
- 56:21
Keeping Goals Secretstrategy
The guest advises keeping your major purpose to yourself to avoid the envy and interference of idle people who might throw monkey wrenches into your plans.
- 1:14:59
Nature's Abundanceinsight
The guest explains that nature always provides in superabundance, producing enough blooms, fish, and harvest to cover all damages and feed everything.
Quotes
“The starting point of all achievement is desire. Keep this constantly in mind.”
Unnamed speaker · 3:01 “You are the master of your destiny. You can influence, direct, and control your own environment.”
Unnamed speaker · 3:26 “When defeat comes, accept it as a signal that your plans are not sound. Rebuild those plans and set sail once more towards your coveted goal.”
Unnamed speaker · 3:45 “A quitter never wins and a winner never quits. Every adversity, every failure, every heartbreak carries with it the seed of an equal or greater benefit.”
Unnamed speaker · 5:41 “The way of success is the way of continuous pursuit of knowledge.”
Unnamed speaker · 5:37 “The greatest sin of mankind is neglect to use his greatest asset.”
Unnamed speaker · 1:02:08 “If you keep on asking for it, you're gonna get it.”
Unnamed speaker · 59:25 “You can fail, unless you think you can.”
Unnamed speaker · 1:11:57
Sponsored segments
- covell.com/itunes 1:17:05–1:19:42
About this episode
Please enjoy my monologue Think Right with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive. --- 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 https://twitter.com/covel Facebook: @trendfollowing https://www.facebook.com/trendfollowing/ LinkedIn: @covel https://linkedin.com/in/covel/ Instagram: @mikecovel https://www.instagram.com/mikecovel/ Hope you enjoy my never-ending podcast conversation!
Transcript
12,909 words · 2 speakers
Topics
- Think and Grow Rich
- Life Insurance
- Circuit City
- The Thirteen Steps to Riches
- Use Your Noodle and Get the Bootle
- Million-Dollar Roundtable
- trend following
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