Ep. 826: A 2019 Christmas Deep Dive with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Efficient Market Theory
The man with a hammer every problem tends to look pretty much like a nail. The alternative truth was a little messy and they'd forgotten the great economist Caine's whom I think said better to be roughly right than precisely wrong. Why would you expect general market levels to always be totally efficient say even in 1973 fourth the pit or in 1972 or whatever it was when the NFT 50 were in their heyday. It was a total disaster. Now let's talk about efficient market theory. A wonderful economic doctrine that had a long vogue in spite of the experience of Berkshire Hathaway.
Transcript
Play full episode
