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Ep. 485: Jared Dillian Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Fear of Lehman Brothers

In September of 2008, we were really staring down the barrel of the entire financial system coming apart. I can't summon the feeling of the fear exactly anymore, but it was intense. The Fed had to come in and backstop all the money market funds after Lehman failed. So there was sort of an interest in the government in not letting another bank fail because the measures they had to take after Lehman were so extreme.

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