Ep. 977: Trend Following Kick Ass Reminder with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Putting Facts Out There
Campbell: It's cliche, but that free lunch thing really isn't so free. He says people are getting a little extra return because at some point, there's going to be a severe downside. And on top of that, it cuts off the upside because if the market goes up substantially, you need to pay out for the call options. All that does is to take a portfolio of the S&P 500 and tilt it towards negative skew.
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