Ep. 1159: Three Outside the Box with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Systemic Risk in the Great Recession
In 2005, I wrote an article that looked at the notion of systemic risk. The fact that a hedge fund could create these kinds of shockwaves was really quite an extraordinary event. And so I spent a fair bit of time studying that leading up to 2004. We were seeing a buildup of leverage and illiquidity in the hedge fund space.
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