Ep. 478: Desert Island Prices with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Probabilistic Way to Look at the S&P Situation
The Nikkei dropped from 40,000 in 1989 to below 8,000 in 2003. The S&P is now over 2,100 and who knows where it's going to go next? A 50% decline would take us back to only a couple hundred points above the high in 1998. If you're sitting there right now and you're close to retirement and the S&P goes to a level not been seen since the dot-com bubble, how will your life be?
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