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Good post. Met with him over a decade ago. The last graph there with ROR - that's neat but I don't think it can be compared to the other firms. MM and a lot of those guys were commodity traders as u know and guys like Greenblat are value/event-driven. A lot more speculation factor in commodities v. other strats asset classes.

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From what I understood, this great trade on gold was made from pyramiding, the same strategy that Richard Dennis and also yourself used. So let me ask: how to balance the pyramiding aspect with the potential risk of ruin of any given trade? For instance, if gold limited down 3 days in a row, how Marcus could have reacted? I assume all of you had maybe a position limit? (Although in one of your videos you said that you couldn’t get enough size if the setup was good enough)

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