This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, best-selling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covell, not filtered, raw, honest.

That's my passion.

I came across a white paper.

Someone sent me posted on the Cornell University site. I don't think it's from Cornell, though. It's called two centuries of trend following.

Quote, we established the existence of anomalous excess returns based on trend-fowing strategies across four asset classes,

commodities, currencies, stock indices, bonds, and over very long time scales.

We use for our studies both Futures Time Series that exists since 1960 and Spot time series that allow us to go back to 1,800 on commodities and indices. Clearly, going back a long ways. They conclude, finally,

we study the performance of trend following in the recent period. We find no sign of statistical

degradation of long trends.

They do point out, though, that some of the shorter trends have withered.

No surprise there.

Anyways, I like the fact that when I go through their references, it's all other academic white papers and then sandwiched

right in the middle of the academic white papers is the complete turtle trader.

Props out to you guys and gals for including the complete turtle trader in the middle of your academic work.

So I post this.

I post on Twitter.

I immediately see a response.

Somebody wants to talk about the last couple years of trend following performance.

Now mind you, trend following performance is going

to differ depending on the trader, what's in their portfolio, the type of system they're trading,

...