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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: marcos who wrote (53638)	12/1/2007 9:29:34 PM
From: tyc:>	Read Replies (1) of 78428

>>Whose judgment? Let me repeat my simple statement: "If the trend is to be your friend, don't let judgment influence you..... just follow" I mean simply that you cannot have faith in trends IF you are going to insist on using your judgment. If you try to do otherwise, you are saying, "The trend is my friend providing if conforms to my judgment". . Frankly I have little faith in trends. Nevertheless I believe that trend followers do make a lot of money simply by being guided by the direction of the market, even when their judgment would direct them otherwise. Moreover, I am swayed by the argument that the returns of "trend following" are uncorrelated with the returns of "exercising judgment", and therefore might deserve a place in a diversified portfolio, reducing its risk. The place I have chosen for it is "currency differentials". My trend following will be just that; when direction breaks down, my judgment will not prevent me from abandoning the position, (without abandoning the market or my strategies). In the meantime, "trend following" is making money for me. The posting I am replying to is very sensible, But it reflects your judgments.

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