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Ep. 1136: Nigol Koulajian Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Consistency in Careers

Wambam: For us, we measure risk, not true volatility. We're saying today, volatility does not measure risk. Don't even bother looking at volatility because that's not what you're getting paid for. The real thing that you'regetting paid for is tail risk. Effectively, sharp ratio and convexity are 80% correlated. All we're saying, the steady return, the bigger the tail is with 80% correlation.

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