Then we have a couple of questions from one of my favorite listeners, Dimitri, who is based in the UK.

And he asks, I understand that larger timeframes are expected to have more influence on price momentum than smaller timeframes.

But what timeframes does successful systematic trend following fund consider too large?

It's probably too long, I would imagine, to be effective.

For example, the yearly time frame may be more influential than the monthly time frame,

but a lot can happen in a year

in terms of the fundamentals of a company, currency, a commodity. So would a CCA fund be looking

at a quarterly as the largest, most influential timeframe or the monthly perhaps, or is it

dependent on the instrument being traded?

I understand the price is everything,

but is there a time frame where fundamentals keep getting in the way of price action,

therefore repeatedly screwing expectancy?

So, I mean, let me kick it off this time then with this. I mean, we try at Don

not to restrict necessarily the model within a certain time frame, meaning we do want to allow it to

look at different time frames. and we do this in a purely

systematic way and it's anywhere from a few weeks really up to a couple of years that we think is a

reasonable time frame to consider but then we want the system or the model to really make the choices

for us and we do that actually on a weekly basis now.

In the old days since 2006, when we implemented this methodology,

we could only do it once a month because it's a lot of calculations to do this.

But nowadays we can do it on a weekly basis.

So it doesn't mean that anything will change on a weekly basis,

...