Ep. 67: Rich Thoughts & Poor Thoughts with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Preparing for a Bull Market
Right now, Apple has a pretty big moat. Will it continue? I have no earthly idea. As long as their stock price is doing something positive in a trending sort of way, that's what you should worry about. You want very little downside risk. If you know from the beginning, you're willing to lose only a certain amount of money, then that's fine. That's all right. Morgan goes on to say an easy motto to follow during bull markets: high valuations cause irreparable losses. The easiest way to ensure you'll miss the bulk of bull markets is to buy good businesses and hold them for a long time.
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