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Ep. 331: Douglas Emlen Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Cost of Big Weapons

When you start getting a whole lot of other states in the game, the ways that this thing can play out become astronomically complex. That sort of safety factor that you get from deterrence won't work when it's too complicated. The things that we're facing now aren't like that because the weapons and mass destruction that were those state-of-the-art astronomically expensive weapons are in the cold war aren't now.

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