It is often said that trend followers provide “crisis alpha.” This means that market stress often benefits their strategies. This follows logically as moves get larger, coordinate together, and run consistently, trading becomes easier. These managers quickly caution that they do not always provide this negative correlation. Price action can swing unpredictably against long-standing trends […]

A common complaint about politicians is that they avoid critical decisions because they only care about keeping their job. Much like a middle manager at a bank, taking a daring chance and failing gets you fired, but doing the bare minimum keeps you employed. Donald Trump is not a normal politician. In a continuing trend, […]

Success in business and elsewhere is often gained with years of experience through trial and error. Battlefield conditions necessitate a different approach that prioritizes good decision-making under the most stressful and high-stakes situations imaginable. In a different way, trading is similar. Moving millions of dollars in and out of positions while competing against the best […]