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Ep. 1197: Animal Weapons with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Importance of Predictability in Arms Races
David Frum: The thing that starts the arms race is this kind of one-on-one interaction. He says if fights aren't predictable, then it's not worth spending a lot to build a weapon. "The only reason there are two superpowers facing out that can afford to play that game"
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