"Trend following is dead because trends never really get going," John Taylor, chairman of FX Concepts, grumbled. FX Concepts was one of the oldest and leading private managers of currency-focused hedge funds.
It looked like 2013 was going to be another year of dismal returns, according to Parker Global Currency Managers Index. Parker Global kept track of the performance of the firm's fund investments. For the first half this year, returns went down 1.47%.
"Investors trying to read signals in the financial markets pushed by political and central bank dictates have struggled to keep up with the latest government moves," said Taylor in a published piece at Track.com. "Does he (Ben Bernanke) understand that he is confusing and frustrating the markets," Taylor asked.
"Ever since the Great Recession of 2008-2009, the foreign exchange markets have been buffeted by ever-increasing interference from government bodies, especially central banks, disrupting the day-to-day functioning of the market," added Taylor.
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