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Ep. 267: Dennis Gartman Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Wisdom in Trading

I was on the board of the Kansas City Board of Trades, board of directors for a number of years. It was actually my job as the outside board of director to explain to the floor traders that guys, the game has changed and you might as well get used to it. If you buy something at 12 and it goes to 10, there's only one thing that can be happening to the size of your equity and your accountant, that is it's getting smaller and you're wrong. So when you do that, it almost always is a disaster.

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