Ep. 179: Tim Price Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Unintended Consequences of Preserving Forests
I think we can roll back the clock and say that there were multiple times over the last 20, 30 years when the Federal Reserve intervened to avoid the forest. So interest rates, I'm an perhaps a particular follower of I think, of what I understand, the Austrian business cycle. And that argument strongly suggests that if you're looking for proximate causes of the boom and bust cycle, look no further than the central bank. But precisely because of central bank activity, money printing, QE, apparently now seemingly to infinity, it makes sensible value investing almost unimaginably difficult. We don't actually know what the future is going to be like. We can worry about a variety of different scenarios
Play episode from 30:38
Transcript
