Ep. 887: A Trend Following Firehose with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Taking Risk
You can't make money every month. If I see 1% a month every month every year, I'm either thinking it's Bernie Madoff Jr. or another long-term capital management. It is foolish to think that that is beating the market or alpha or whatever you want to call it. That's called taking risk because if the market goes severely down, then you've got these put options you have to pay off.
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