Forget Risk-Parity... ignore volatility-targeting... Risk management is for losers, value-investing is for dummies, and chasing momentum is for suckers... The path to successful trading in the new normal is easy... and involves just 4 simple steps... Step 1: Put on Pants; Step 2: Buy S&P 500 Futures at Midnight ET; Step 3: Sell S&P 500 Futures at 4amET; Step 4: Go back to bed... Probably the most stunning chart we have ever seen - note the red line's performance - minimal drawdown, maximal return... h/t @NanexLLC