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Chapter 11. Conclusion > Decrease Leverage; Decrease Return

Decrease Leverage; Decrease Return

Richard Dennis’ students were originally instructed to make as much money as possible. They had no restrictions except to shoot for home runs. They were absolute return traders while under Dennis’ guidance. However, later on, when they went out on their own to manage money for clients, some changed how they traded. Many of them accepted clients who demanded less leverage and ultimately less return. As a result, their performance records have been far less impressive than old pro trend followers.

Traders like Dunn, Henry, Parker, and Seykota know that in order to win big profits, the manager and client must be aligned. Bill Dunn is adamant about aligning himself with his clients:


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