Ep. 969: A Speculative Reminder with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Speculation
A speculator's ability to receive a price they can count on as fact is the foundation of markets. In declaring that it is not the business of the government to determine prices, we do not step beyond the borders of logical thinking,. A government can no more determine prices than a goose can lay hen's eggs. Government will attempt to directly rig the market system via QE, ZIRP, NIRP or whatever acronym sure to follow. However, speculation is all there for making choices about those market prices.
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