Ep. 508: Hysteria with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Trend Following World of David Harding
David Harding, founder of the Winton Investment System says that efficient market theory is wrong. The idea that markets are always rational has a grip on Western economic thinking, despite much evidence that it's wrong,. It treats economics like a physical science when in fact it is a human or social science. Humans are prone to unpredictable behavior, to overreaction or slumbering inaction to mania and panic - exactly what we just saw in the US election.
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Transcript
