Home » The Book – Following the Trend by Andreas F. Clenow » Endorsements for Following the Trend by Andreas F. Clenow

Endorsements for Following the Trend by Andreas F. Clenow

Jack Schwager, Author of Market Wizard and Schwager on Futures series and Market Sense and Nonsense

Jack Schwager, Author of Market Wizard and Schwager on Futures series and Market Sense and Nonsense

Following the Trend 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.”

Jack Schwager

Author of Market Wizard and Schwager on Futures series and Market Sense and Nonsense 

 

 

 

Mebane Faber - Founder and Chief Investment Officer at Cambria Investment Management

Mebane Faber – Founder and Chief Investment Officer at Cambria Investment Management

“A lot of ‘alpha’ strategies can be deconstructed into simple rules based portfolios.  Following the Trend: Diversified Managed Futures Trading lays out how to replicate the vast majority of the managed futures industry with a simple system.  Why pay a manager a 2% management fee and a 20% performance fee when you can buy Clenow’s book for $50?  A must read for all those seriously interested in managed futures.”

Mebane Faber – Founder and Chief Investment Officer at Cambria Investment Management

 

 

 

 

 

 

Sanjiv Kumar, Principal, Fort LP.

Sanjiv Kumar, Principal, Fort LP.

 “Why is not everyone making money by following simple systematic strategies? Andreas Clenow provides an illuminating analysis of this puzzle. He addresses issues such as how to build statistically robust models, how to size your positions and allocate risk. He shows that while in theory simple systematic strategies can be very profitable and it is easy to replicate the past results of many star managers. To do so in practice is very difficult. On average two-thirds of the days the manager loses money. Even worse, there are extended periods where the manager is losing money month after month. The investors start to desert the manager. Systematic strategies, unlike laws of physics, are vulnerable to breakdown. Manager is left wondering whether its strategies are just facing a tough period or have they stopped working. The key ingredient for success is emotional self-control rather than trading prowess of the manager. It is a must read for some one 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.”

Sanjiv Kumar, Principal, Fort LP.

 

Nigol Koulajian, Founder, Quest Partners, LLC.

Nigol Koulajian, Founder, Quest Partners, LLC.

“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.”

Nigol Koulajian, Founder, Quest Partners, LLC.

 

 

 

 

 

 

 

Van K. Tharp, Ph.D., Author of Trade Your Way to Financial Freedom, Supertrader, and The Definitive Guide to Position Sizing Strategies.

Van K. Tharp, Ph.D., Author of Trade Your Way to Financial Freedom, Supertrader, and The Definitive Guide to Position Sizing Strategies.

“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.”

Van K. Tharp, Ph.D., Author of Trade Your Way to Financial Freedom, Supertrader, and The Definitive Guide to Position Sizing Strategies.

 

 

 

 

 

 

 

 

Carl Gyllenram, CEO, Ability Asset Management and Author of Trading with Crowd Psychology

Carl Gyllenram, CEO, Ability Asset Management and Author of Trading with Crowd Psychology.

“Andreas 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!”

Carl Gyllenram, CEO, Ability Asset Management and Author of Trading with Crowd Psychology.

 

 

 

 

 

 

Robert Savage, CEO of Track.com - an independent research firm serving the hedge fund community.

Robert Savage, CEO of Track.com – an independent research firm serving the hedge fund community.

“This is 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.”

Robert Savage, CEO of Track.com – an independent research firm serving the hedge fund community.

 

 

 

 

 

 

 

Anthony Garner, Trader and Author of A Practical Guide to ETF Trading Systems

Anthony Garner, Trader and Author of A Practical Guide to ETF Trading Systems

“If you want to learn about trend following, you will not find a better place to start than this book. It is a practical, step by step guide to trend following and cuts away the hype and nonsense which surrounds this topic. Coupled with a reliable data source and a sophisticated back testing engine, this book will enable you to dispense with gurus and system salesmen. Highly recommended.”

Anthony Garner, Trader and Author of A Practical Guide to ETF Trading Systems.

 

 

 

 

 

 

Kathryn M. Kaminski, PhD, CIO and Founder, Alpha K Capital

Kathryn M. Kaminski, PhD, CIO and Founder, Alpha K Capital

“A no nonsense view into the real world of trend following and how it can be done.”

Kathryn M. Kaminski, PhD, CIO and Founder, Alpha K Capital

 

 

 

 

 

 

 

Mark Melin Author, High-Performance Managed Futures Editor, Opalesque Futures Intelligence Former adjunct instructor, managed futures, Northwestern University

Mark Melin
Author, High-Performance Managed Futures
Editor, Opalesque Futures Intelligence
Former adjunct instructor, managed futures, Northwestern University

“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.”

Mark H. Melin

Author, High-Performance Managed Futures
Editor, Opalesque Futures Intelligence
Former adjunct instructor, managed futures, Northwestern University

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