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Ep. 1192: Scott Patterson Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Disdiscretionary Trading

Ackman is more of a fundamental guy, discretionary trading, not systematic like Mark Spitznagel. University can go years without posting any profits, in fact, losing year after year. That's very similar to the trend following world. The idea is to limit those losses. It's a fat-tail approach. You're looking for fat-tails and you don't know when that's going to happen. You can't predict that.

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