June/July

Not much to report as results are basically flat and mostly in cash. Market still really crappy for trend following and looks set to continue a while yet. Perhaps a little rally into Xmas.

That said, I like this quote from Ray Dalio, founder of Bridgewater, the world's largest hedge fund in 2009($40billion) .."I never know anything really - everything is a pobability". They have a 20 year track record of 15% pa in the pure Alpha fund.