Ep. 941: Trend Following Perspectives with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Role of Luck in Success
A lot of this has to do with regression to the mean and luck. Jim Simons at Renaissance Technologies, he's had math formulas named after him. He will come out loudly, clearly always say, hey, I'm a very lucky guy. So there's clearly a piece of luck at play. And you mentioned survivorship bias. The people, the winners, or the ones that don't survive.
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