Ep. 959: Hedge Fund Market Wizards Redux with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Make Money in Bubbles
The best way to take advantage of a bubble is not necessarily the direct way. When you get into those markets, there's no rationality. A stock goes from $100 to $200 and then back to $10 or even down to $1. If it went to $200, it could have gone to $300. I don't know too many people who can stand that type of heat. That leads to one of the other lessons in the book: How you implement a trade is more important than the idea itself.
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