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Introduction
Take yourself back to 1997. The dot-com bubble has still not yet even reached 1999, where the Nasdaq went up 100%. Trend-following traders would have made a hell of a lot more money if the Fed didn't step in and start playing games. And way and bam, thank you, ma'am. Even following trading has been kicking Royal ass in 2022. This has been one big fucking kick the can down the road routine all the way back to long term capital management.