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Ep. 932: Richard Smith Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Cycle Perspective

The one thing we know for sure that's true is the traded market price at this moment in time. One of my early mentors, Jake Bernstein, told a great story about talking to some cattle ranchers down in Alabama. He says if a stock is down in the first three days after I buy it, then I get rid of it. If things don't go our way, even if we make the big prediction and you mentioned the trailing stock at the beginning - there's really no 100% chance that any timing indicator is going to be 100% accurate.

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