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Ep. 264: John H. Cochrane Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Cost of Expertise

David Frum: What does the economy look like when goods are essentially free and all value consists of paying other people for their expertise? It's an interesting thought. I meant it more as a question and as a graduate students come in all the time and say, what should I write my thesis about? You just love being put on the spot on that heavy question, right? Yeah. Well, here's a paper I'd like the right sound, David. That does seem to me... Not completely realistic, but some very, very clean parable about how is the economy work," he says.

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