Ep. 374: The Death Cross with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Black Box Critique of Trend Following Strategies
I find the black box critique goes right alongside the survivorship bias critique. It's generally an agenda. Take for example, the turtle trading story. At least a half dozen of the original students taught by Richard Dennis and Bill Eckhart have had decades long success stories. Now on the flip side you can go out and you can find horror stories about one or two of those turtle traders. They just fell outside and they did everything the same as everyone else that were the winners, but they just failed. No fault of their own. They just failed.
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