Ep. 1119: A Trend Pioneer with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Magic of 5% Disdiscretionary
The notion of 95% systematic and some portion of discretion was a very common marketing line in the disclosure documents of trend following CTAs. And I always used to think about this doesn't make any sense. Now, I think probably because you and other peers, associates, et cetera, have gone the opposite direction and said, hey, hold on, I don't think you could probably get away with that today.
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