Ep. 627: Charles Faulkner Interview with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
How to Navigate Complexity
The ability to identify what situation am I in is a high level of thinking unfortunately because that's the skill we all need now. Complex situations are fraught with ambiguity uncertainty reflexivity endogenous effects meaning that it isn't what it was last year when you're confronted with them. You want to pause take a breath and go okay in this situation what I need to do is take small actions and see what effects they have. The wheel of decision making can be found online in innumerable diagrams which resembles Bayesian reasoning.
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