Trend-following is not such a good model. It’s simply eroded. Things change and being able to adjust is what made Mr. Simons so successful. “Statistic predictor signals erode over the next several years； it can be five years or 10 years. You have to keep coming up with new things because the market is against us. If you don’t keep getting better， you’re going to do worse.
The most glorious moments in your life are not the so-called days of success, but rather those days when out of dejection and despair you feel rise in you a challenge to life, and the promise of future accomplishment.
