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Ep. 1192: Scott Patterson Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
How to Be a Successful Index Trader
There's no tail mindset in the typical index investor, whether they be a mutual fund or a pension fund. You're setting yourself up for some pain down the road. Modern portfolio theory loves that low volatile, steady gain type of return because you get a high sharp ratio and it really looks good on paper. That became very popular on Wall Street. At Universal, hardly could raise any money when they first started raising funds in 2007. They had a hard time, but they were lucky. In 2008, they performed so characterally well.
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