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Ep. 964: Henry Kaufman Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The 73, 74 Bear Market

In the late 70s, President Carter appointed Paul Voker as chairman of the Federal Reserve. He moved to a period of very tight monetary policy and I was fully aware of that. That tight monetary policy had its consequences. It slowed lending, it slowed speculation. It helped to break the back of the inflationary process. And I sensed that in my analysis, I made that call on August 17th, 1982 that the worst was over.

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