Ep. 1: Michael Dever Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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Myths About Return Drivers
The first myth is that stocks provide an intrinsic return. It's quoted, it's stated as if there's some sort of just magic and it's just happens. The reality is you can trace everything back to what drives the market. And without that knowledge, you're investing blindly on the fact that because it went up in the past, it's going to go up again in the future. Stocks are driven by two drivers: earnings growth and multiple payouts.
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Transcript
