Ep. 897: Trends, Value and Selling with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Alternative History
i think we had these subprime mortgage backed securities which i describe as as fallacious there just was no substance to these things. A lot of people in a lot of financial institutions invested in levered structured securities built out of subprime mortgages enormously overpaid. There could have been a real meltdown of the financial system and there could've been a depression like we saw in the 30s this was the worst financial event since the depression but it did not rival the depression in terms of severity or duration or impact on the average american.
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