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Ep. 1026: Richard Brennan Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Path Dependency of Outlies
The average mind wants this consistency dream that doesn't exist. Path dependency really matters. And when i look at the track record of the trend followers and i see the path that their equity curves take, you see the impact of outlies in their history. Because these outlies are a manifestation of non random, serially correlated events That really arei altering that transitional events.
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