Ep. 772: Wake Up and Think with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
The Structure of an Optimal Stopping Problem
Many aspects of the financial world are implicitly modeled using optimal stopping under the hood. Recall, trading offers a wonderfully stark example where as you describe at each moment in time you have this extremely fleeting and ephemeral opportunity. If you buy, then you can't reverse that without some pain. But if you fail to act, then the opportunity may go away and you don't have the opportunity to rectify that also.
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