Ep. 482: Two Takes with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Introduction
After the Great Recession, regulators and central bankers all look to Hyman Minsky for insights on the next bubble that will pop. He developed his free stages of finance model in the 1970s but it put him firmly outside the mainstream. The easiest way to understand it is to think of a typical home mortgage. Once asset prices start rolling over, then the whole system implodes.
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Transcript
