How Long Can You Be in a Market and Not Make Money at It?

We've never dropped the market from the portfolio because of not actually making money in it. There are a number of markets that we've traded over the course of the last 10 years where we have made no returns like our cards in those markets for 10 years. From our perspective, that has no bearing. It is a poor indicator of what might happen over the next 10 years. We would drop markets for a number of reasons if we actually suddenly saw liquidity drying up in the markets. That's for us and for the CTA sector in general. Just because we've actually made strong returns in the fixed income markets over 30-year period, that to us is completely irrelevant in terms of how

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