Ep. 540: Michael Covel Interviews on Trend Following Radio
Michael Covel's Trend Following
00:00
The Importance of Discipline in Investing
Most investment professionals have some kind of understanding of the subject, but do not really apply these lessons when investing. If you're going to bring that behavioral mindset into your world, you need a systematic plan. Cut your losses, let your winners run. It's prospect theory in action. That's why the behavioral aspect is so great for trend following because you're putting yourself on rules and giving yourself rules.
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Transcript
