Ep. 4: Mike Shell Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Differences Between My Systems and My System
In my systems, my program is unique, vert relative to some of the other ones that you've written about in that a lot of them are running maybe a hedge fund. They're not necessarily expecting somebody's going to put all their money into it. And so there has to be some level of risk management involved. We pay a lot more attention to the downside because we have to match up how much that person can tolerate on the downside relative to what kind of total return we'd hope to get. The markets aren't a physical science, they're a behavioral science and, and social science and mark the markets don't fall into those distributions. It's not like a knob where you just
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