Ep. 674: Trend Following Mega Fifth Edition with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Wildness in Economics
classical economics has no framework through which to understand wild markets, and wild is your phrasing. My intuition is that it's much harder to go against the trend than it is to follow the trend. In a sense, I would say that we're privileged as physicists because we don't have politicians to make statements about how things are supposed to work. Nobody's relying on economists to make political decisions but there's a huge amount of pressure on them due to stories like this. It will take me 10 years or 20 years - at the end of the day, we'll have a better theory for the world.
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