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Ep. 502: Efficient Market Thinking with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Efficient Market Hypothesis

Professor Benoit Mendelbrot explains the efficient market hypothesis. He says it's a model of extreme simplicity which has in a certain sense no parameter. If you scale the time appropriately and the value appropriately, it's the same theory for everything - he tells us how we've all gone so wrong over 50 years.

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