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.

生命中最伟大的荣耀不在于永不跌倒，而在于每次跌倒后都能站起来。