Manage episode 307974725 series 1451365
When so many sectors are reaching new highs, where is the best place to put your money?
This week, Dan brings in entrepreneur Michael Covel, to help answer that tough question.
Mike is the author of five books, including an international bestseller, Trend Following: Learn to Make Millions in Up or Down Markets, and The Complete Turtle Trader...
He also created www.TrendFollowing.com where his consistent market-beating strategy has begun to spread, as he now services clients in 70 different countries.
Mike is very active on Twitter, publishes his blog, and records his podcast weekly.
And today, Mike stopped by so Dan could get his thoughts on some popular trends in the market.
Tech stocks, value stocks, cryptos...
Dan gets Mike's thoughts on where these trends are moving in the short term.
But perhaps, even more importantly, the two discuss how to be cautious when so many sectors are making new highs...
And how to make a specific plan to preserve your wealth in the event of a downturn.
As Mike says, you should ask yourself, "Are you okay with losing up to 50% of your net worth?"