Ep. 674: Trend Following Mega Fifth Edition with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Importance of Risk Management in Model Development
A lot of people focus on in any model development is the models. But what many people miss is the risk management component, he says. You need to be able to systematize not only your models that interpret the price data and determine the confidence you have in that particular trend. The manager that says, I am 95% systematic and 5% discretionary is 100%. It's not necessarily a bad thing.
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