This post is available as a PDF download here. Summary Trend-following strategies exploit the fact that investors exhibit behavioral biases that cause trends to persist. While many investment strategies have a concave payoff profile that reaps small rewards at the risk of large losses, trend-following strategies exhibit a convex payoff profile, one that pays small … Continue reading A Trend Equity Primer
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A Trend Equity Primer
This post is available as a PDF download here. Summary Trend-following strategies exploit the fact that investors exhibit behavioral biases that cause trends to persist. While many investment strategies have a concave payoff profile that reaps small rewards at the risk of large losses, trend-following strategies exhibit a convex payoff profile, one that pays small … Continue reading A Trend Equity Primer