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Ep. 166: Harry Binswanger Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Asymmetrical Nature of Trade

I see this almost every time somebody comes on to talk about I and Rand, the major media just wants to paint everybody is crazy. People don't understand the nature of trade; in a trade between someone with more and someone with less, you can't damn the person who has more, but cozy as more. If it's need demanding a right from those who are not needy, it's a formula for death. That is what Ayn Rand calls the morality of death. So I'm sorry to go on. It's not a law. But let me summarize it: In a trade, both parties expect to win."

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