Santa Claus Might Be Real

Trend trader Paul Mulvaney (profiled in my new book The Little Book of Trading) offers:

Markets don’t move from one state to another in a straight line; there are periods of shock and volatility. You have to deal with those unsettling but inevitable events, but there are many, many commercial systems that have been generating strong, albeit volatile, returns for a long time. Mulvaney opined: “There are definitely firm grounds for believing in Santa Claus.”

True that.