Trend Following, 5th Edition

Acknowledgments

I asked them, “How many of you have ever taken the lid off a toilet tank to see how it works?” None of them had. How do you get to M.I.T. without having ever looked inside a toilet tank?

—Jay W. Forrester

I want to thank the 100,000-plus readers since 2004 that have read an edition of this book. You are the only reason I am here 13 years later onto my 5th edition.

Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them funny-mentals. However, if you catch on early, before others believe, you might have valuable surprise-a-mentals.

Ed Seykota

For this 5th edition a big thank you goes out to Barry Ritholtz for his new foreword contribution. And, thank you to Larry Hite and Charles Faulkner for their earlier edition forewords.

It is a pleasure to recognize the traders, colleagues, mentors, writers, and friends who contributed directly or indirectly to Trend Following:

Mark Abraham, Kate Abraham, Salem Abraham, James Altucher, Dan Andrews, Will Andrews, Ngo Thi Anh, Gerald Appel, Jeanette Arango, Christian Baja, Hunter Baldwin, Tom Basso, David Beach, 
Martin Bergin, Laurent Bernut, Vineer Bhansali, John Boik, Peter Borish, 
Jean-Philippe Bouchaud, Wade Brorsen, Gibbons Burke, Holly 
Burns, Steve Burns, Jim Byers, Melissa Cantrell-Sprafkin, Jake Carriker, 
Patrick Cheo, Michelle Cheung, Michael Clarke, Art Collins, Cory 
Colvin, Allan Como, Larry Connors, Justin Cooke, Jerome Covel, Johanna 
Covel, ...