Ep. 724: Inside The Game Theory Mind with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How Ernst Smith and Danny Kahneman Showed Opposite Things
Danny Kahneman and Ernst Smith were awarded the Nobel prize for economics. They both showed that economic theory does not work, but did lab experiments on people to prove it. David Frum: How can they have made convincing cases for two things that contradict each other? The answer is that they are both basically right.
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Transcript
