Ep. 530: Against the Gods with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Deal With Uncertainty
The key thing about an option is that it's a right non-application. You have an opportunity, but you don't have to take it. This means waiting because we'll see what happens then I'll decide whether I want to do it. The kind of option that we talk about in the business world is contrasted to an option in the finance world called a real option which involves real decisions.
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