The best way to predict the future is to create it.
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.
当我们有目的地疏伐森林时,我们不是在夺走生命,而是在为更多生命的繁荣腾出空间。