Ep. 872: Aha Moments with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Power of Diversification
Dallio: Diversification is the only free lunch on Wall Street. He says it's a way of dramatically improving return to risk without really any negative two, without any downside. If you can find unrelated strategies, truly uncarrelated strategies, that you can increase your return to risk by as much as a factor five to one. So he sees there's a tremendous amount of potential improvement you can get in your return torisk,. It's all return to risk, not return, by diversifying.
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