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Trend Following Survival

Michael Covel (March 29, 2005)

We doubt trend followers will like the comparison to cockroaches, but Richard Bookstaber of Moore Capital (Louis Bacon's firm) presents clear insight into the philosophical foundations that allow trend followers to survive all types of conditions:

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The first page (p. 18) is especially insightful if you are attempting to figure out how trend followers always adapts to current market conditions.

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