Ep. 1193: Ready for the Panic with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Connection Between Gambling and Trading
Coville: I'm going to jump around a little bit on chapters here because there's all kinds of interesting characters in this book. Ed Thorpe realized mathematically that if you varied the bet size dependent on how attractive the individual hand looked, that you could take a game that had a negative edge and turn it into a positive edge. Kevin Dally is like an investor who was up over a 12-year period where he just goes occasionally less than 10%, so he's more akin to S&P Flack.
Transcript
Play full episode
