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Ep. 821: Chris Varelas Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Mysterious Black Hole of 2009 to 2019

How did we go from real estate and large portions of America being worth almost nothing, to get to the point now here 10 years later? It's very mysterious. If you've written a check into the future, and we all know about the bubble in the room, which is the pension system. So if you're an endowment, a pension fund, anyone that needs to fund something in the future, you're getting no return on your cash or on your short term fixed income investments. What do you have to do? You have to move down the risk curve. And so what they're doing is they're saying, you know what? We'll just invest more in riskier long

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