Ep. 482: Two Takes with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Great Recession: The Great Explanation
"Find me a film out there that doesn't just give the same old messaging. Government's bad. We blew a bubble," he says. "No one ever says in these damn films, what do the smart people do?" Minsky argues periods of economic prosperity encouraged borrowers and lenders to be progressively reckless. This excess optimism createsFinancial Instability Hypothesis: capitalism is prone to move from periods of financial stability to instability.
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