Ep. 84: The Incessant Search For The New New Thing with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The New New Thing
Trend following is a style of trading that when you really start to analyze it and look closely at it, is as much about life is trading. It's this incessant search for something new. And especially in the investment world, there's always the thing. They're telling you that's coming. But if you have a philosophy that's grounded in change, you can participate when a market goes up or down. The reason is that luck breaks the direct link between skill and results. Think about playing blackjack at a casino. If you ask for a hit in the dealer flips a four, you'll have won the hand despite a poor process. You'll focus on the process.
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