Ep. 1165: Big Events with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Long-Term Capital Management (LTCM) Fiasco
Long-term Capital Management, LTCM, was a hedge fund that went bust in 1998. The story of who lost has been told repeatedly over the years but exploring the winners was the real story. It promised to use complex mathematical models to make investors wealthy beyond their wildest dreams. Ultimately, theories collided with realities and sent the company spiraling out of control.
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