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Ep. 747: Safi Bahcall Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Different Way to Think About How People Behave

In science, water will go through these phase changes. But when you change the temperature, all of a sudden something changes and the molecules become completely rigid. The behavior totally changes, but it's exactly the same molecules inside. So why? How do those molecules notice suddenly change? There isn't some lead molecules saying, "You're going to be liquid today" Has nothing to do with that. It's something about the temperature.

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