#3 - Practice 2: Sideline Your Ego Like Kevin Muir

"When trading, are you more interested in being right, or are you more interested in making money? And I ultimately just look at it like ‘I just want to make money, and…make the best returns I can’, and so therefore I need to stay open to different ideas.” - Kevin Muir--This week’s episode features another one of Chase’s greatest mentors, Kevin Muir. Kevin is a prototype of the kind of investor we’re trying to highlight on this podcast. He’s a markets scientist who isn’t afraid to explore new ideas and find himself wrong after that process. His open-mindedness has led him to some great theories that we dig deeper into for this episode. --Timestamps:-- (00:01) - Intro-- (03:19)- Kevin’s Charity: Covenant House-- (04:39) -Why Kevin loves the markets-- (05:39)- James Aiken’s philosophy on overload-- (10:56)- How Kevin discovered MMT wasn’t the stupidest thing he ever heard-- (15:10)- Tim Urban and the “high rung” approach to ideas--(17:41)- How do you intentionally stay open to new ideas?--(23:55)- Systematic Investing Flows--(30:01)- Tried and True Indicators can’t always help (Yield Curve Inversion)--(39:25)- Must Read Books for Traders --(45:27)- Between Two Pines--(53:25)- Simple morning rituals set you up for a full day of markets, and you should adjust your reading to the macro environment--(56:18)- Different life priorities led Kevin from working at a bank to operating the Macro Tourist --(1:01:43)- “New techs” cause mini-rolling bubbles and never underestimate the stupidity of regional bank CEOs--(1:07:14)- Plugs--This Episode's Charity:The Covenant House of Toronto aims to serve youth who are homeless, trafficked, or at risk. They’re located in the heart of Toronto and offer youth ages 16-24 essential services such as medical care, food, and shelter. Kevin and Chase raised $100 for charity this week! --Referenced in the Show:What’s Our Problem?: A Self-Help Book for Societies by Tim UrbanIs Inflation Ending: Are You Ready? by A. Gary Shilling and Kiril Sokoloff The Logical Trader: Applying a Method to the Madness by Mark FisherThe Alchemy of Finance by George SorosKevin’s Interviews of Jim Leitner on The Market Huddle: Check out this episode’s blog post--Guest Plugs:Kevin’s The Macro Tourist SubstackKevin’s X: https://twitter.com/kevinmuirKevin’s email: [email protected] Macro Research aims to provide unique, well researched analysis of the global markets using a macro framework. Find us here: www.pineconemacro.com Follow us and the show on Twitter: @PineconeMacro &