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In Watergate, Deepthroat said to follow the money.
Recently, I've read comments about the success of
short term volatility traders over the long term
trendfollowers (e.g. turtles, Basso etc). The
published track records and the outflow of managed
money from the hands of the latter group seems to
confirm this.
The questions can be asked:
a) Has long-term trendfollowing stopped working in
most markets ? Does it only go hand-in-hand with very
large drawdowns ?
b) Which is the "edge" of the individual trader over
the large money-managers in today's marketplace ?
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