Ep. 935: Trends, Psych and Felonies with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of a Long Track Record
Some academics have gone straight into fund management with all of these papers. They've raised a lot of assets on techniques that might not be the best thing in the future. There is a risk premium normally being paid by the ones that are long, so they're short. A system investment manager will surely not make any money on the strategy. The best way to recognize a bad investment manager in commodity markets is someone that refers to Keynes.
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