Ep. 65: The Wishing/Doing Gap with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Dot Com Bubble and the Invisible Hand of the Fed
The dot com bubble started under Bill Clinton, but it popped basically under George Bush. Once the Fed dropped rates to 1% in 2003, what was on? Well, the biggest real estate bubble ever that then burst in 2008. It's not difficult to predict an eventual spike of instability in such a system. The only difficulty is predicting the date of the instability.
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