Ep. 598: Trading Legends Epic Episode on Trend Following Radio
Michael Covel's Trend Following
00:00
The Connection Between Gambling and Trading
Coville: This is a dense book. I'm going to jump around some because I don't want anybody to accuse me of saying, well, Coville, you pick the first chapter, you only read one chapter, it's not the case. Ed Thorpe realized mathematically that if you varied the bet size dependent on how attractive the individual hand looked, that you could take a game that had a negative edge and turn it into a positive edge. He says most people would probably not see the connection between gambling and trading but in Thorpe's case, he did both. Cevallos: Kevin Druckenbuhler has an over 12-year period where he
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