Ep. 1165: Big Events with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Trend Following and September 11, 2001
No one predicted a terrorist attack would close Wall Street for four days. Trend following was short stocks and long bonds ahead of the attack because those markets were already headed in that direction. The US dollar had already begun to weaken before the attacks, hence Campbell was short that market. Although it was difficult to stay focused on the rigors of everyday life, trend following maintained.
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