Ep. 630: Truth and Fantasy with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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How to Avoid a 50% Drawdown in Your Trading Strategy
Covell: You're going to play this trend following game where you can't predict a damn thing. If you want absolute returns, large returns, if you want to end up with 18% a year after 40 plus years, he says. Covell: Charlie Munger was down 30% back-to-back years. Buffett himself has fond of saying, "If you're not prepared to lose 50%, even if it's on paper, you shouldn't be in the markets"
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Transcript
