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Ep. 877: Andrew Lo and Jon Gordon Interviews with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Systemic Risk in the Great Recession

In 2005, I wrote an article. The article was first presented at a conference in October of 2004. It was an article that looked at the notion of systemic risk. We were seeing a buildup of leverage and illiquidity in the hedge fund space. In 1998, LPCM, the fact that a hedge fund could create these kinds of shockwaves ... was really quite an extraordinary event.

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