Ep. 253: Perry Kaufman Interview with Michael Covel on Trend Following Radio

In this episode of Trend Following Radio, host Michael Covel interviews Perry Kaufman, a systematic trader and quantitative financial theorist, about algorithmic trading systems. Kaufman discusses his background, the importance of a sound premise in trading, and the role of interest rates in driving market trends. He emphasizes the significance of risk management, particularly in the context of tail events and market volatility, advocating for adjusting position sizes based on volatility levels. Kaufman also touches on the differences between trading in mature versus emerging markets, noting that emerging markets can offer easier-to-capture trends but with liquidity constraints. He advises listeners to focus on risk management and to be aware of the uncertainties inherent in trading.