David Winton Harding, founder of London-based Winton
CapitalManagement, says that if you look hard enough you can
find a literaryquote to serve as a mot juste for virtually any
event or circumstance.To prove the point, he reels one off from
Julius Caesar: "There is atide in the affairs of men which,
taken at the flood, leads on tofortune..."
David Harding, Winton Capital Management
"Howgood a quote is that for a trend-follower?" Harding asks.
"I'm notinterpreting it in a geeky way, but it is so
appropriate fortrend-followers. It's all a question of catching
the tide. It's not aquestion of being right about things. It's
all about riding the wave."
Not all Commodity Trading Advisers (CTAs) are
trend-followers. Butmost of those that are were able to ride
the wave to spectacular effectin 2008. In a miserable year for
many hedge fund strategies, theHedgeFund Intelligence Managed