Ep. 754: The Schwager Launch with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Connection Between Gambling and Trading
Cobell: I'm going to jump around a little bit on chapters here because I think there's all kinds of interesting characters in this book. Ed Thorpe realized mathematically that if you varied the bet size dependent on how attractive the individual hand looked, that you could take a game that had a negative edge and turn it into a positive edge. Kevin Dally is another trader in the book who's actually more of an investor than a long-term gambler.
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