Trend Followers Are Risk Managers First Informers, and They Size Positions Inversely to Volatility

Despite relatively big moves in some of the markets, it has been a relatively quiet performance week for tren followers. Energy and grain prices sold o quitee significantly. And as you said, currency is interesting. I'm not sure exactly, well, there was netet a big move in the currency sector for managers but certainly theyare starting om some interesting levels inSome of the currency pairs. Tren barometer finish the week at 70. That's a very, very strong reading. It really is confirming the strong performanceer we're seeing from tren follows er so far this year. Now, before we move on to the questions, we have one question from abe that we need

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