Ep. 816: A Trading Primer with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Conviction in Finance
Finance is dominated by randomness. You need to have a lack of conviction and dogma in certain things because you want to be able to prove that things are wrong. And so when we come up with a new strategy or a new idea, what we're trying to do is find out what's wrong with it. It's not about proving things right. What you're trying to doing is break your strategy. Proof of strategy is broken rather than it's right.
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