Ep. 417: Robert Carver Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Importance of Systematic Trading
When you got to AHL as part of your university program, what did you understand? Was there a particular person or an event that took place where the system was put across your desk and you had this light bulb moment? I would say it was gradual. As he said, I've never really thought about finance in any way apart from a very systematic way. The trading we were doing seemed to be mostly on hunches or the seat of the pant stuff. You're quoting Daniel Kahneman. In every case, the accuracy of experts was matched or exceeded by a simple algorithm. Why are experts in feared algorithms? One reason is that experts try to be clever. Complexity may work in the
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