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 Futures index...