From FT.com:
“If you believe we are going to have a bear market, CTAs [aka trend following] will have a chance to make money in that environment, and in the meanwhile they offer non-correlated returns.”
And:
Such “systematic” funds [aka trend following], which surf trends using financial models and algorithms, do well whenever there is a clear direction for markets. Down markets are as good as uptrends, so long as they are clear, and in January and most of February, financial uncertainty proved profitable.
And:
Ewan Kirk, chief investment officer for Cantab Capital, said “while there is no such thing as a ‘typical’ systematic manager, many managers in our space have been short energies and long bonds since the beginning of the year”.
Full article. Making money in a Black Swan Market.
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