Ep. 354: The Babe Ruth Effect: Frequency v. Magnitude with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Expected Value Across Fields
If you want to be investing in the next Facebook, then you got to be kissing an awful lot of frogs and hope that none of them are going to leave you with warts. The biggest outlier hits and successes of the past 10 years have been first-time entrepreneurs who don't even know how to think about Sats. This entire way of thinking argues strongly against the use of prediction and the use of fundamentals.
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