Ep. 266: Misinformed View On Trend Following with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
How to Make Money in Financial Markets
When I started creating or studying the futures markets in the 1980s, and we found that as far as past data concerned, they worked. This is very surprising. They're not supposed to work. The efficient market theory says that the market has no predictable patterns in it whatsoever. As young men, we were faced with either backing the evidence of our senses or going with the orthodoxy. Fortunately, we did what young men and women do, which we took a gamble and started a company. And we didn't of course know that these ideas would work, but surprisingly and conveniently they have worked for the next 25 years. That's about the amount of time you need to build a successful business,
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