Ep. 113: Risk, The Unexpected and Black Swans with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Taking Risk
For a lot of people, if you're comfortable and you have the assets that you need to live on, then you can afford to take more risk. And risk means that you might lose. Whereas if it doesn't matter much anyway, there's a years income or something in that part. Shoot the moon. This next clip is from Vernon Smith. He was talking to Reason Magazine, Reason TV. But actually Vernon Smith appeared in my documentary film, Broke the New American Dream.
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