Ep. 155: Boom-Bust Cycles with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Risk-Based System
The failure of a bank leads to an increased probability of failure of the entire system. Decentralization spreads mistakes and makes smaller mistakes, like Switzerland perfectly centralized. A second one is low debt, because with the score cover since the Babylonians, that debt has systemic consequences. The third one, I will say, is skin in the game. That is when these bubbles are occurring,. When these bubbles are popping, you need the strategy that gets better, that gets stronger, even more prosperous.
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