Sorry for the terrible headline but this is makes terrible reading and pretty much unpicks the shakiness on which much alpha was grounded. The one stand out, apart from the dog having its day, short bias, is managed futures, the most successful of which has thrived on the volatility.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=e57787d7-6eb8-4df3-9619-045a38db5f47)
