Built for What We Cannot Foresee What five centuries of managing uncertainty can teach us about surviving the next surprise A Venetian merchant commits capital to a ship that may never return. An eighteenth-century insurer studies mortality tables before making...
Only fourteen markets rose. Trend strength held its ground. This was a week in which the performance board narrowed sharply, but the trend environment did not. Only 14 of 49 markets finished higher, down from 24 a week ago and...
“A trend portfolio is not paid at the moment a trend is identified. It is paid for the distance travelled while it was already positioned, and it hands back the same way.” About This Report The ATS Classic Trend Benchmarking...
The Physicists Who Stopped Predicting How complexity science changed the questions we ask about markets, crises and survival In 2009, the financial system was still absorbing the shock of the previous year. Banks had failed, markets had frozen and governments...
How different ways of choosing trend following programs have performed over time Data through July 2026. Edition date 27 September 2026. The study uses reported returns for programs classified in NilssonHedge as Type CTA, Style Systematic and Strategy Trend Following....
The River That Was Not on the Map How weak mortgages became highly rated securities, and why the losses spread far beyond the homes on which the loans were made. United States, 2006. A mortgage lender approves a loan that...
The leaderboard turned over. Most of the trends beneath it held. This was a week that looked like rotation on the performance board and persistence underneath it. Soft Commodities and Meats, the two weakest sectors a week ago, finished first...
Persistence Returns July gave trend followers plenty of movement, then took away the trends. August gave them something more useful: moves that lasted. All three major trend benchmarks finished higher after two consecutive negative months. The TTU Trend Following Index...
The Genius and the Abyss How Long-Term Capital Management turned small pricing gaps into extraordinary returns, and discovered that being right about value is not the same as surviving the journey. Greenwich, Connecticut, 1994. John Meriwether is building a hedge...
Introduction Systematic trend following performance in August 2026 returned to positive territory. The benchmark gained +3.02 percent, reversing the back-to-back losses of June and July and lifting the benchmark equity curve to a new high on its five-year VAMI. The...
