capitulation, page-143

stlamc, you can't gauge hedge fund returns over the long term, that would be flawed from the outset and only goes to reinforce what I have said. Most hedge funds are cyclic and often sit gathering dust not unlike equities. If you're going to compare then you need to focus on what the fund is designed to do and when it is designed to be most active. Once you do that you'll find your figures will adjust significantly.

As for there being no money in Forex, um maybe not for the average gambler sitting in his lounge room perhaps, I'm not sure many (any) major banks or their traders would agree with you though.