Feedback in:
Michael: Just wanted to write a quick note, prompted by your very correct posts on portfolio thinking and your reaction to Goldman currency forecasts. I read press and blogs to be entertained or be informed about ideas but I can’t use them to trade. Trend following has kept me out of harm’s way in terms of permanent impairment to future profits while also helping me capture potential opportunities missed by the “experts”. Zerohedge.com teases Goldman’s wrong way calls on a variety of trades and helps illustrate the futility of forecasts without risk controls. If only their clients took the advice with a grain or a pound of salt and focused on risk management and price. I’ve made money in the impossible manias and “bubbles” and also on the short side when those bubbles “burst”, but that was only because of trend following. Thank you for helping me save the bacon on more than one occasion.
Best,
Edward
Thanks.
