Ep. 654: No Real Magic with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Taking Risk
Trend following is a precarious balance between risk and reward. Successful people understand that risk, properly conceived, is often highly productive rather than something to avoid. To proceed in the face of risk, begin by accepting markets do not reward stupidity or ignorance in the long run. They reward brains, guts and determination to find opportunity where others have overlooked. The right decisions lead to success and the wrong ones lead to bankruptcy.
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Transcript
