Ep. 1165: Big Events with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Trend-Following Strategy - 5 Unforeseen Market Events
The first few months of 1995 go down as one of the most eventful periods in the history of speculative trading. The market events of that period, by themselves, could be the subject of a Harvard PhD finance course. But twenty years later, despite the enduring significance, the events have been forgotten and no Harvard class ever materialized. A rogue trader overextended Bering's Bank in the Nikkei 225, the Japanese equivalent of the Dow, by speculating that the index would go higher. It tanked instead, and Bering's the Queen's Bank, one of the oldest, most well-established banks in England, lost $2.2 billion.
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