Ep. 4: Mike Shell Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Quantifying Uncertainty
Mike Downey: We don't know the outcome in advance. Our individual trades are as random as a coin flip. If you believe that some institution out there knows in advance what the market's going to do or some stocks going to do, they'd only need to know that one time. He says we can determine probability and expected outcome by having historical data. But he warns people not to focus on 90% win ratio because it doesn't exist.
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Transcript
