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.
最好的原料才能做出最好的面包。就是这么简单。
孔子说:“人没有长远的考虑,必定有眼前的忧愁。”