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Ep. 1165: Big Events with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Black Sholes Way of Life
LTCM became overextended and ran out of capital before any anticipated reversion to the mean could bail them out. Those who cannot or will not learn from the past always set themselves up for another August-September 1998 lightning bolt. Another LTCM fiasco was always in the offing since the Black Sholes Way of Life, where the world is a normal distribution, is still considered a viable approach to investing in 2017.
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