Ep. 1286: Mike Dever Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
Cycles of Speculation: Embrace the Flow
Market behavior is characterized by speculative cycles fueled by psychological phenomena rather than fixed patterns. Historical precedents illustrate how bubbles form and burst, with each recovery amplifying investor conviction in their decision-making. The recent surge in real estate, stocks, tech, and digital assets like crypto and NFTs, highlights a repeating cycle of rising valuations despite the presence of higher interest rates. This speculative environment suggests a persistent allure that drives investors to re-enter markets after downturns, leading to new peaks in valuations that defy traditional economic indicators.
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