Ep. 844: Howard Marks Inspiration with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Overcome Emotions and Biases in Poker
Good play isn't just a function of relying on the expected value of your holdings in pure math, but also of thinking broadly about risk. It's important to have discipline when risking your capital so that you can survive unfavorable periods and still be around when the winners show up. You must never forget the six foot tall man who drowned crossing the river that was five foot deep on average. The consistent winner has to be able to think at a higher or complex level than the rest.
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