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Ep. 872: Aha Moments with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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How to Measure Your Gains and Losses

The gain-to-pay ratio counts all the losses. It's much better than ratios like the cow-mar ratio or ratios, which basically take your returns to your worst drawdown. So it's basically weighting every loss you have ever taken.

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