Ep. 60: Persistence, Patton and Reincarnation with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Process Versus Outcome Chart
A good process to make a decision and a bad outcome is a bad break. If you have a, you know, from a good process, that's deserved success. The other way to think about it is if you use a good process and this is what Dalia was talking about, he made that comment. He's very clear. We're hunting for the big winners. So we need to eliminate the bad breaks with a long-term trend following perspective. That conversation can only be had by people who are thinking probabilistically here too.
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Transcript
