Ep. 782: Going Back to MIT with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Importance of Reconciliation in Economics
I think that more and more economists are coming around to my view, which is that it was a very inspired choice. One series of events after another started bringing more and more light onto the particular problem. It was really in 1999 that I finally started putting all the pieces together. This was after LTCM as well as the 87 crash, as well as a number of events in the market that really called into question how people behaved. The same kinds of explanations that we propose for animal behavior should apply to Homo sapiens as well.
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