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Ep. 330: Nigol Koulajian Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Importance of Alpha in the CTA World

The alpha in the whole hedge fund industry is not due to scale, 99% plus of it is due to exposure to tail risk. Investors are relying on very unstable patterns that will reverse substantially if they're not careful. The new managers coming in are those who have exposed themselves to self-tail risks through buying dips and fixed income.

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