This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel.

Not filtered, raw, honest.

That's my passion.

You know, I just watched the big short again,

coming back from Tokyo to Washington, Dulles.

Such a great movie.

Spot on.

Awesome.

And the Michael Burry character, right?

They did such a great job.

And I felt like, you know, if I'm going to talk about the Yale endowment today, leading off with a little

Bond Scott, right where I need to be. So the Yale endowment, the big chunk of change that

Yale has, it's an interesting story, David Swenson, the guy has managed it for decades.

It's the creme de la creme. Fabulous, exceptional. No one beats it. They've got top flight asset

allocation, diversification, everything's perfect.

Now, they lost a significant chunk of change during the crisis.

They've made it back.

But then again, all index holders have made it back.

Am I saying Yale is just an index?

Not saying that yet. But I want to dig in today for Wall Street.

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