Ep. 514: Epic Behavioral Episode with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Making Peace With Losses
A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise. And we do see a lot of evidence for that, and it probably is costly to traders. Let me shift slight gears on you and talk about bubbles and crowd behavior. When people get together and crowds, the decision making changes. It doesn't seem like it's necessarily a good or bad or irrelevant, or relative.
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Transcript
