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Ep. 569: Andrew Lo with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Impact of Hedge Funds on Systemic Risk

Hedge funds were becoming a much more important source of systemic risk. Fixed income arbitrage was the category that was involved in the LPCM debacle. Between 2005 and 2008, a series of crowded trades blew up one after the other.

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