Trend-following is not such a good model. It’s simply eroded. Things change and being able to adjust is what made Mr. Simons so successful. “Statistic predictor signals erode over the next several years; it can be five years or 10 years. You have to keep coming up with new things because the market is against us. If you don’t keep getting better, you’re going to do worse.
他呢,狗嘴吐不出象牙。
生活不是等待风暴过去,而是学会在雨中跳舞。
用心管理的森林才能长久存在。
The existence of a legal system presupposes the existence of a rule of recognition.