Ep. 554: The Yale Model with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Strategy in a Panic
Barons has criticized Yale in the past and Swenson responded. Barons: In a panic, only two things matter, risk and safety. Investors sold everything that had risk associated with it to buy US treasuries. This type of diversification failed for that type of time period,. The low probability black swan, which frankly happened a lot more regularly.
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