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Ep. 1286: Mike Dever Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Psychology of Speculation

This chapter explores the speculative nature of markets, particularly tech stocks and cryptocurrencies like Bitcoin. It emphasizes the psychological factors influencing investor behavior, illustrating how market cycles of exuberance and correction are driven more by collective psychology than by fundamentals. Through historical comparisons and discussions of risk management, the chapter sheds light on the volatility of speculative assets and the impact of investor sentiment.

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