Ep. 113: Risk, The Unexpected and Black Swans with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Why Smart People Do Dumb Things
If you take the 16 of them, that probably has a high and average IQ as any 16 people working together in one business. So that incredible amount of intellect in that room. Most of them had virtually all of their very substantial net worths in the business. They risked what they did have and did need to make money. And that's foolish. That is just plain foolish.
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