A Wealth of Common Sense · 10 September 2026 · Additional Read

A Short History of Trend-Following and Momentum

Ben Carlson

A century of academic research shows trend-following and momentum strategies deliver returns comparable to buy-and-hold indexing while significantly reducing portfolio drawdowns during market crashes, supported by studies from AQR, Fama & French, and others spanning multiple asset classes and decades.

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Topics: Venture Capital & Startups

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