Foreword
“No good decision was ever made in a swivel chair.”
—General George S. Patton, Jr.
Larry Hite
When I started trading in the commodity futures markets over 35 years ago, the industry didn’t even have a name. Today, the business has grown to the point where there are a myriad of ways to describe the funds that operate and their many styles of investing. The particular discipline of trading that I practiced, even before the nomenclature existed, is now plainly and aptly termed “trend following.” In fact, while I have seen many strategies come and go, most of the other managers that I have known to survive and thrive over the past few decades in global futures markets are also trend followers. For having made my living as a ...
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