Ep. 977: Trend Following Kick Ass Reminder with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Negative Realization of Successful Investors
I think sometimes we just assume they were equal, but they're not necessarily equal or taking the same steps or strategies. So you could think of every investor having a slightly different strategy. Some might be chasing real risk premia; others are chasing mispricing in the market that might be fleeting. Once you start buying, all of a sudden instead of something being undervalued, it's overvalued. There's just a myriad of different strategies out there.
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