
Ep. 848: Welcome to Thunderdome with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Demand for Disdiscretionary Trading
I think the demand for discretionary trading probably comes from the reactive demand. It's extremely hard to rate a model that can react to every last move in the market. September 11th is probably a very good example of a piece of information that arrived. The world changed two minutes past nine and systematic models knew nothing about it whereas discretionary traders clearly did.
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