Ep. 173: Uncertainty, Prediction and Personal Responsibility with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
How to Beat Dave Ramsey
Mike Downey: Howard Gold wrote an article saying that almost no one can beat the market. He says only 1% of mutual fund managers persistently beat the market based on superior market timing or stock picking skills, which is down dramatically since the mid 1990s. How do you get a persistent information edge over millions of other smart investors who comprise the market? It's terribly difficult and it doesn't stop people like Howard Gold from writing articles using just the pure data to say he backs up some professors.Downey: Investors are not trying to show their skill; they want average so they can drive nice cars. So let's stop talking about mutual fund manager skills. Their skills are exactly what
Play episode from 13:44
Transcript
