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Ep. 1100: Peter Borish Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The D-Day of the Fed Getting Involved in Things

In 1944, Fed policy was to tolerate slightly higher inflation for longer. We embarked at that point on a 38-year bear market in bonds. In 1882, with poker and the changes, policy came in on a lack of toleration. From 1982 to 2020, we had a bull market in interest rates, 38 years in symmetry.

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