Ep. 397: Jim Rickards Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
How to Solve Problems When You Don't Have Enough Data
I gave an interview on CNBC in November 2014. I said categorically, the Fed will not raise interest rates in 2015. Wall Street was saying March, and then they got to March, and they said June,. Then they got to September, and now they're saying December. They were wrong the entire year, and I was right over a year ago. How do you solve problems when you don't have enough information? These are the problems we get in the intelligence community. You have to stop the next 9-11 attack, but you know nothing about the whereabouts of your terrorist opponents. That's what's inverse probability.
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