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What I DID NOT learn at the HFI Summit in Paris

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I had expected a more buzzing reception when I arrived…why?…because after 6 years of an equity Bull market, we finally saw signs of a market environment where Hedge Funds and CTAs can shine and show what low correlation or even negative correlation really looks like.

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Market Trends for March 2016

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Yellen & Draghi saves the world…but spoils it for CTAs Investors in “traditional” assets and hedge funds cheered as Captain Yellen and her Co-Pilot (Draghi) once again decided that the world needed another injection of speed whilst maintaining the same course of action we have seen in recent years, namely QE and ZIRP. However, if…

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Affordable Losses

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Trend Followers don’t shy away from losses.

Losses provide valuable feedback that helps them improve as traders. Sometimes, losses occur despite solid strategies and perfect execution.

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Market Trends for February 2016

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Coco-Bonds spooked the markets…but not CTAs It is fair to say that investors had plenty of things to worry about in February and we were reminded about the days from 2008, where you were not quite sure if your bank was in trouble. This time around, we learned of a new instrument…Coco-Bonds! Clearly the banks…

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Market Trends for January 2016

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January kicked off 2016 on a positive note! Although the Trend Barometer finished unchanged for the month, it did spend the first half of the month significantly above break-even, which allowed trend following strategies to build up enough of a cushion to withstand the drop in number of trends during the last week of January…

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The Costly Mistake of Misjudging Luck from Skill

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Following up on a great H2 2014, most trend following CTAs continued to produce strong gains during Q1 this year. Good performance tends to attract new investments, i.e., investors are inclined to chase returns as they attribute recent outperformance to manager skill. This can be a costly mistake.

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Why Robust Trading Strategies are more Volatile

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I am often asked, “Why is your Tactical system of futures trading volatile?” Robustness and increased odds for survival have a lot to do with it. But I am getting ahead of myself…

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Getting Started On Top Traders Unplugged

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top traders unplugged new here

If this is your first time visiting the website, check out some of our best episodes and resources here.

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High Volatility Reduces Risk

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Investors do not necessarily lower their risk by lowering the volatility of their returns. That’s because volatility and risk are two very separate matters.

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Smooth Risk

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The CTA industry has changed a lot during the past ten years. New regulations and increased demand from institutional investors, especially pension funds, have caused many CTAs to change (i) their trading programs and (ii) their business operations.

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