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Trading the Trend (Collection) by Michael W. Covel

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Honest

A good traveler has no fixed plansand is not intent on arriving.1

Mutual funds, brokers, financial news, big banks, and 23-year-old AP finance writers fresh out of journalism school, the ones who literally make up the fundamental news and predictions daily, have all been a massive sham, wittingly or unwittingly, and to say that puts a .30-06 bullseye figuratively between my eyes.

Provoke reactions. Cause some to whine. Yes, that’s what I do. Here are some friends:

• The [trend following] field is marked by unsubstantiated claims of success; a track record of failure and associated rationalizations; a lack of peer reviewed studies showing any positive results; and a collection of logical, mathematical and statistical fallacies. Although ...

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