I was speaking with a top trend following trader today. He manages over $100 million and made over +20% for the month of October, so yes he passes the credibility test! He told me that following their October performance they sent their results to over 500 media outlets. One responded. One. That one said, “well, I guess we need to get around to looking at the CTAs.”
Get around? The entire world is crashing, trend following traders (CTA is a regulatory term imposed by government to classify trend followers) are making a killing, and this reporter will get around to it? Why such ignorance? Most reporters, I am serious, are not qualified or perhaps even capable intellectually of understanding trend following trading. There is extreme ignorance. I thought that there was ignorance in 1996. Twelve years later and it seems worse!
