
Ep. 548: More New Trend Following Book with Michael Covel
Michael Covel's Trend Following
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EMT and the Stock Market Meltdown
Eugene Fama's theory that stocks always trade at fair value is the basis for index funds. EMT, by definition, leaves the epic October 2008 stock market meltdown out of the academic equation. One of the first and loudest critics of EMT was famed mathematician Benoit Mandelbrot. French physicist Jean-Philippe Bouchaud sees EMT marketing in play.
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