Introduction Systematic trend following performance in May 2026 cooled after April’s turbulence. The benchmark gained just +0.50 percent as two-way churn across energy and commodities left most programs treading water. After a month that traced the barometer from Strong to...
When Convexity Has Nothing to Cut: The Quiet Month After April delivered the strongest trend-following month of 2026 and the year’s widest dispersion, May delivered the reverse of both. It was the quietest month of the year at the index...
PREVIOUS: THE STILLNESS BEFORE | Episode 5 of 8: The Stillness Before NEXT: THE STILLNESS BEFORE | Episode 7 of 8: An Umbrella Is No Use in a Tsunami The wisp of smoke Picture a packed theatre, every seat taken,...
PREVIOUS: THE STILLNESS BEFORE | Episode 4 of 8: The Day the Pond Becomes Ice NEXT: THE STILLNESS BEFORE | Episode 6 of 8: Everyone Reaches for the Same Small Door The watched pot I ended the last episode with...
“A Split Tape: Soft Commodities and Equities Lead as the Petroleum Complex Falls Again“ Trend Following Weekly Report This week split by sector rather than moving as one. Soft Commodities led the board, lifted by sharp gains in cocoa and...
PREVIOUS: THE STILLNESS BEFORE | Episode 3 of 8: The Three Crowds on the Bridge NEXT: THE STILLNESS BEFORE | Episode 5 of 8: The Stillness Before A switch, not a dial Cool a glass of water, one degree at...
PREVIOUS: THE STILLNESS BEFORE | Episode 2 of 8: Why a Market Needs an Argument NEXT: THE STILLNESS BEFORE | Episode 4 of 8: The Day the Pond Becomes Ice The crowd that moves you Think of the last time...
PREVIOUS: THE STILLNESS BEFORE | Episode 1 of 8: The Buyer Who Never Looks at the Price] NEXT: THE STILLNESS BEFORE | Episode 3 of 8: The Three Crowds on the Bridge What a price really is Most of us...
NEXT: THE STILLNESS BEFORE | Episode 2 of 8: Why a Market Needs an Argument The safest choice Most of us have money riding on the market, whether we follow it or not. It sits in a pension, a retirement...
The Zero Beneath the Zero: What We Found When We Looked Beneath the Most Quoted Statistic in Finance Phase 1 proved the fingerprint exists. Phase 2 investigates what the fingerprint does. The answer changes how you think about markets, trend-following,...
