{"product_id":"following-the-trend-diversified-managed-futures-trading-hardcover","title":"Following the Trend: Diversified Managed Futures Trading - Hardcover","description":"\u003cp\u003eby \u003cb\u003eAndreas F. Clenow\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eAn up-to-date and practical roadmap for diversified futures trading using CTA fund strategies\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eIn the newly revised second edition of \u003ci\u003eFollowing the Trend: Diversified Managed Futures Trading\u003c\/i\u003e, renowned hedge fund founder and asset manager Andreas F. Clenow presents a systematic asset management methodology in a way that allows readers to emulate the success of CTA industry professionals. In the book, you'll find performance and attribution details for every year between 2002 and 2021 and detailed explanations of how the markets, industry, and strategy have evolved between the publication of the first edition and today. \u003c\/p\u003e\u003cp\u003eThe author also offers: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eDetailed discussions of whether CTA hedge funds continue to show high internal correlation and exhibit homogeneous behaviour\u003c\/li\u003e \u003cli\u003eThe impact of low and negative interest rate environments, massive inflows into equity markets, and the rise of quant trading firms\u003c\/li\u003e \u003cli\u003eExplorations of the combination of different types of trading models to enhance performance, complete with rulesets and fulsome analyses\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003eA ground-breaking and thoroughly incisive examination of the commodity trading advisor industry, \u003ci\u003eFollowing the Trend: Diversified Managed Futures Trading\u003c\/i\u003e is an essential volume for sophisticated retail traders, day traders, private investors, investment managers, portfolio managers, and institutional investors.\u003c\/p\u003e\u003ch3\u003eFront Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eFor the past 40 or so years, during bull and bear markets, there has been a group of hedge funds and professional traders which have consistently outperformed traditional investment strategies. They have shown remarkable uncorrelated performance and in the great bear market of 2008 they had record gains. These traders are highly secretive about their proprietary trading algorithms and often employ top PhDs in their research teams. Yet, it is possible to replicate their trading performance with relatively simple models. These traders are trend-following cross-asset futures managers, also known simply as CTAs. Many books are written about them. No other explains their strategies in such detail as to enable the reader to emulate their success and create their own trend-following trading business. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eFollowing the Trend\u003c\/i\u003e explains why most fail by focusing on the wrong things, such as buy and sell rules, and teaches the truly important parts of trend following. Trading everything from the Nasdaq index and T-bills to currency crosses, platinum and lean hogs, there are large gains to be made regardless of the state of the economy or stock markets. By analysing year-by-year trend-following performance and attribution the reader will be able to build a deep understanding of what it is like to trade futures at a large scale and where the real problems and opportunities lie. \u003c\/p\u003e\u003cp\u003eThis second edition of the global best seller tells the story of what happened to the strategy and industry in the ten years since the first publication with an updated year-by-year review explaining how trend following coped with changing market environments. Further adding to the trader's toolbox, you will be introduced to valuable and complementary futures trading styles, showing how the industry has adapted and combined trading styles to achieve higher risk-adjusted results in the long run. These advanced trading techniques are outlined in detail with complete rule sets and in-depth analysis.\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eFollowing the Trend\u003c\/i\u003e is an absolute must read for anyone with an interest in systematic trend following whether as an investor, trader, or aspiring manager. The book is at the same time comprehensive and easy to read. As someone who has designed these types of systems, it is absolutely clear to me that Clenow writes as a knowledgeable practitioner, not an armchair theoretician. I admired Clenow's repeatedly pointing out real life difficulties and drawbacks and his refusal to use optimization or well-chosen examples as virtually all other books of this type tend to do. In short, this is a real life presentation of the subject matter. In one particularly innovative chapter, Clenow creates close replications of some of the best and largest trend-following funds by combining his set of simple, non-optimized rules with variations in portfolio composition and volatility level.\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e-- Jack Schwager, \u003c\/b\u003e Author of the \u003ci\u003eMarket Wizards\u003c\/i\u003e and \u003ci\u003eSchwager on Futures\u003c\/i\u003e series, and \u003ci\u003eMarket Sense and Nonsense\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePraise for the first edition\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"Andreas F. Clenow has written a very unique book that provides a rare insight into how an actual CTA hedge fund manager trades. Backing up all his claims with hard research, he cuts right to the point and educates the reader about how the real value of trend-following futures trading is achieved and how to replicate the success of the major hedge funds. A must read and an essential part of any serious trader's library!\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e--Carl Gyllenram, \u003c\/b\u003e CEO, Ability Asset Management and Author of the \u003ci\u003eTrading with Crowd Psychology\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eFollowing the Trend\u003c\/i\u003e truly captures what it is to be a systematic manager day in and day out. It is a must read for someone with ambitions to create his own systematic fund; highly recommended for everyone who is planning to invest in or understand the intricacies of systematic strategies.\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e--Sanjiv Kumar, \u003c\/b\u003e Principal, Fort LP. \u003c\/p\u003e\u003cp\u003e\"In this excellent work, Andreas has shed light on some very important and previously undocumented aspects of trend following. This book should be of great interest to Managed Futures managers and investors alike.\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e--Nigol Koulajian, \u003c\/b\u003eFounder, Quest Partners, LLC \u003c\/p\u003e\u003cp\u003e\"This is a must-read for anyone involved in trading markets. The thoughtful analysis of how models work and fail will help anyone interested in trading futures. This book adds to the short list of intelligent analysis available for investors to beat the market.\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e--Robert Savage, \u003c\/b\u003e CEO, Track.com \u003c\/p\u003e\u003cp\u003e\"If you want to trade professionally by managing other people's money, then this is one of the first books I recommend that you read.\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e-- Van K. Tharp, Ph.D., \u003c\/b\u003e Author of the \u003ci\u003eTrade Your Way to Financial Freedom, Super Trader\u003c\/i\u003e, and \u003ci\u003eThe Definitive Guide to Position Sizing Strategies\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\"Trend following is the largest sub-category of managed futures, driven by the market environment of price persistence. Andreas has taken a complicated topic and provided an insightful viewpoint.\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e-- Mark H. Melin, \u003c\/b\u003e Author of the \u003ci\u003eHigh-Performance Managed Futures\u003c\/i\u003e and Editor of \u003ci\u003eOpalesque Futures Intelligence\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\"A no- nonsense view into the real world of trend following and how it can be done.\" \u003c\/p\u003e\u003cp\u003e\u003cb\u003e--Kathryn M. Kaminski, PhD, \u003c\/b\u003e CIO and Founder, Alpha K Capital\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eANDREAS F. CLENOW\u003c\/b\u003e is a Swedish Swiss author, financier, and entrepreneur based in Zurich, where he is the Chief Investment Officer of a family office. He has been a tech entrepreneur, a financial consultant, hedge fund manager, financial engineer, quantitative trader, financial advisor, board member, and a middle management corporate bureaucrat during his illustrious career. \u003c\/p\u003e\u003cp\u003eHe is the author of the global best sellers \u003ci\u003eFollowing the Trend, Stocks on the Move, Trading Evolved\u003c\/i\u003e and \u003ci\u003eA Most Private Bank\u003c\/i\u003e and he can be reached though his website, www.clenow.com.\u003c\/p\u003e\u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 336\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1.1 x 9.1 x 6.1 IN\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e January 24, 2023\u003c\/div\u003e","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":42173958848647,"sku":"9781119908982","price":81.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0601\/2623\/2711\/files\/d0c4bae774555ccefb904cef33553db4.webp?v=1733371214","url":"https:\/\/booksby.splitshops.com\/products\/following-the-trend-diversified-managed-futures-trading-hardcover","provider":"Books by splitShops","version":"1.0","type":"link"}