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Ep. 747: Safi Bahcall Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Groups in Innovation

Paper and printing was developed in China for about a thousand years before it was developed in Western Europe. The Chinese had an imperial civil service system with incredibly rigorous testing at the standards of Harvard or Stanford today. It dawned on me that China, Islam, and India were the Merck Pfizer and Novartis of the day. They were the giant global empires. Just like the birth of new drugs happens mostly in the teeming market of impoverished biotech companies.

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