Ep. 1027: Performance Data with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Zero Sum Game Is a Wealth Transfer
Since currency and derivative trading are zero sum games, every dollar won requires that a dollar was lost. As their currencies are devalued, workers savings and future payments, such as pensions, lose purchasing power. Interest rates increase through no fault of their own. Working people lose their jobs in addition to their savings. To me the results of this wealth transfer are inescapable. The winners profit from the losers. Life is not fair.
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