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Ep. 1159: Three Outside the Box with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Adaptive Markets: A Case Study
In the early stages, when you started to talk to people about your work and what you had found, were the reactions, I'm expecting there were some reactions where just go away. Over time, it became clear that we hadn't made a programming error and the data really did show that the random walk wasn't consistent with market data. But it took a while to get there. And at that point, once you acknowledge the fact that the data weren't wrong, you had all sorts of uncomfortable questions in terms of the consequences.
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