Ep. 620: 2018 Will Be Great with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Avoid a Large Drawdown
Jim Byers: What I learned from my earliest large drawdown was that volatility as a percent of the equity in my portfolio need not change. With a silver position it drives the whole portfolio up or down every day and the rest of them doesn't make a difference at all. The bottom line of the position sizing was that every position had a meaningful impact on the portfolio, not a small amount, not a large amount,. A meaningful amount is when you're truly imagining the portfolio.
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