'We elbowed our way in': Winton Capital's Harding

Good insight on the realities of following systematic models and trading systems from one of the pioneers.

Very interesting. Thanks @shodson !

My take-away:

Trend-following systems work. However, the results are too erratic on a given market. They become remarkably stable when applied to all markets.

Markets are changing all the time. But one thing has never changes: markets are auto-correlated.

Nicolas