Ep. 1105: A Double Punch with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Gut Feelings in Decision Making
There's a big movement towards replacing good judgment by algorithm and mistrusting intuitions. I've worked with many large companies and asked the managers through the entire hierarchy into the executive committee how often is an important professional decision where you're taking part. Usually they are buried under a mountain of data partially contradicting, so there's no algorithm to decide whether you should establish a range inside or not. But if they have a feeling based on their experience where they go, that's the gut decision. In about half of important decisions, in large companies, it's intuition at the end that counts.
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