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My guest today is Vernon Smith, the first Nobel Prize winner to appear on this podcast. Smith is an American economist and professor of business economics and law at Chapman University. He is formerly a professor of economics at the University of Arizona, a professor of economics and law at George Mason University, and a board member of the Mercatus Center.

The topic is economics.

In this episode of Trend Following Radio we discuss:

• Bubbles
• Some of Smith\u2019s early experiments
• How \u201cwe\u2019re all born traders\u201d
• Early \u201cah ha\u201d moments
• Early science and engineering beginnings
• Upsetting the conventional economics \u201capple cart\u201d
• The difference between \u201chamburgers and haircuts\u201d and the other 25% of goods
• Smith\u2019s experience bringing Chicago traders into lab experiments
• How we see the dotcom bubble, spring of 2003, and the real estate bubble today
• Differences between housing bubbles and stock market bubbles
• Understanding why bubbles happen
• Liberty
• Views on Adam Smith
• Smith\u2019s ideological journey from socialist to his libertarian leanings today

Jump in!

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I\u2019m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I\u2019m 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\u2019d like to give you a great piece of advice you can use in your life and trading journey\u2026 cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

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