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Ep. 1165: Big Events with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Needer-Hoffer's Performance Meltdown
It is not yet clear what is the precise extent, if any, to which the fund's equity balances are negative. Needer-Hoffer seems unable to acknowledge that he alone was to blame for his losses in the zero-sum game. He did it. It was his strategy. No one else did it for him and using the unexpected as an excuse is no excuse. Some observers were well aware of the problems and Needer-hoffer's contrarian style long before the flameout.
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