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Ep. 1165: Big Events with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Size of Banks Bets Is Rising Rapidly the World Over
The size of banks bets is rising rapidly the world over. This is because potential returns have fallen as fast as markets have risen. So banks have had to bet more in order to continue generating huge profits. The present situation is not dissimilar to the one that preceded the collapse of LTCM. Banks are walking themselves to the edge of the cliff. They woefully underestimate the savage effects of big shocks when everybody is trying to wiggle out of their positions at the same time. It has happened many times before with more or less calamitous consequences.
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