Monthly report by Michael Covel

Bull, Bear & Black Swan Report

No predictions. No noise. Just clarity, process and mindset.

A monthly report that trains you how to think, decide and adapt. Built on trend following principles, not gut feeling. Each issue takes one powerful idea and turns it into a tactical edge, with lessons from how the pros survived and thrived over the last 75 years.

$797/ year
SUBSCRIBE ANNUALLY

12 monthly issues. Billed once a year.

Bull, Bear & Black Swan Report

Timeless trading philosophy in motion

Each month you get a strategic operating system for thinking and acting as a trend follower, not reacting like the herd. New, seasoned or sharpening your edge, it rewires your decision-making and arms you with pressure-tested tools for uncertain markets.

Other newsletters

Tell you where the market will go

Bold forecasts. False certainty. Predictions that look smart until they don’t.

This report

Shows you how to survive and ride trends

A blueprint for volatility, ambiguity and chaos. It trains your mind to act on the battlefield.

What you’ll learn

FAQs

I bought Essentials or Mastery. Do I already have access?

No. The Report is a separate subscription, built to complement what you already have. Essentials and Mastery give you the trend following system: the rules, the process and the structure. The Report keeps that system sharp month after month, with fresh market context, historical lessons and mindset work that help you stick to your rules when it counts.

How do I receive each issue?

Each issue is delivered by email to the address you subscribe with, once a month.

When does my first issue arrive?

Right away. You’ll immediately receive the current issue when you subscribe. After that, each new issue arrives on the 15th of every month.

What happens after 12 months?

Your annual subscription renews at $797 per year so you never miss an issue. You can cancel before your renewal date at any time.

Who is Michael Covel?

Michael Covel is the President of Trend Following, author of the book Trend Following and host of the Trend Following podcast, where he has interviewed many of the world’s top traders, economists and thinkers. The report distills those lessons into one monthly read.

$797/ year

12 monthly issues. Billed once a year.

Disclaimer

The information, tools and materials presented in the Bull, Bear & Black Swan Report and related Trend Following™ content are provided for informational purposes only. They are not to be considered an offer or solicitation to buy, sell or subscribe to securities, investment products or other financial instruments. This report is prepared for general circulation and does not account for the specific investment objectives, financial situation or particular needs of any individual recipient. You should independently evaluate any investments and consult an independent financial adviser before making investment decisions or entering into any transactions related to securities mentioned in this report.

Content on the Trend Following™ and TurtleTrader® network, including the Bull, Bear & Black Swan Report, may not be copied, reprinted or redistributed without written permission from Michael Covel and/or Trend Following™ (permission is typically granted upon request). The purpose of this content is to encourage the free exchange of ideas across investments, risk, economics, psychology, human behavior, entrepreneurship and innovation. All content reflects the opinions of Michael Covel or respective authors, who may retain copyright as noted. Information is sourced from the CFTC, SEC, Yahoo Finance, Google and disclosure documents by managers mentioned, and while assumed accurate, Trend Following™ assumes no responsibility for errors, omissions or clerical mistakes in these sources.

Trend Following™, its subsidiaries, employees and agents do not solicit or execute trades, provide investment advice, or act as registered brokers or advisors with any federal or state agency. Readers are solely responsible for selecting stocks, currencies, options, commodities, futures contracts or strategies and for monitoring their brokerage accounts. Trend Following™, TurtleTrader® and TurtleTrader.com® are trademarks/service marks of Trend Following™. Other trademarks or service marks appearing in this newsletter or related sites may belong to Trend Following™ or unaffiliated third parties.

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