Crowded House
Before enlightenment;chop wood, carry water.After enlightenment;chop wood, carry water.1
In case you’re concerned that this book will create a whole new generation of trend followers who will negatively affect the frequency, direction, and intensity of trends (as well as your ability to make money trading trends), forget it. Here are reasons why systematic trend following will continue to excel:
• Trend followers follow. They don’t generate trends. At the beginning or end of a major trend, there may be volatility, but it will be an extremely superficial, temporary effect.2
• People play zero-sum games for many reasons. Not all play to win. Hedgers, for example, trade the market for certain reasons. It’s portfolio protection for ...
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