Ep. 186: Mikael Stenbom Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Benefits of Crisis Alpha
The problem that we have seen after 2008 is that of course we haven't had any crisis alpha moments because markets have for the most part gone more or less straight up. We are encountering an increasing number of what I would say representatives of smart money being family offices, independent wealth managers and similar who are becoming more concerned about equity markets. They are gradually positioning themselves in many futures again to have this protection against a potential severe correction in the equity markets. Good news are good news and not the other way around. As it's been for a year or so, we have left the risk-on-risk-off environment. It seems that markets have adjusted to the fact that the quantitative easing will
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