39 min listen
Ep. 254: William Poundstone Interview with Michael Covel on Trend Following Radio
Ep. 254: William Poundstone Interview with Michael Covel on Trend Following Radio
ratings:
Length:
37 minutes
Released:
Jul 6, 2014
Format:
Podcast episode
Description
Michael Covel speaks with William Poundstone. Poundstone is the author of Fortune’s Formula, a book about the Kelly criterion. This is risk management at its heart. All great trend traders have had to deal with Kelly. Covel and Poundstone discuss Claude Shannon; the connection between Al Capone, the Kelly formula, bookmaking, and the telephone industry; Bell Labs and information theory; why, when betting, if there’s a small chance of losing everything, you will eventually lose everything; criticisms of the Kelly criterion; Ed Thorp, blackjack, and card counting; Long-Term Capital Management; Martingale vs. Kelly; and early development of the Black-Scholes formula. Want a free trend following DVD? Go to trendfollowing.com/win.
Released:
Jul 6, 2014
Format:
Podcast episode
Titles in the series (100)
Ep. 20: Timothy Sykes Interview with Michael Covel on Trend Following Radio: Covel talks to entrepreneur/trader Timothy Sykes. While their views differ on trading approaches, they agree on certain base principles--especially their skeptical nature and not trusting the system. Sykes is not a trend following trader, but Covel... by Michael Covel's Trend Following