No. of Recommendations: 2
This excellent as usual article on Alpha Architect compares past backtests, drawdowns & returns of trend following vs buy and hold vs low risk and risk-free across several country markets, discusses the pain for gain impacts of whipsaw, and concludes with managing one's behavior is the critical success factor, and "Trust the Process."

Great article - thank you for bringing it to the board's attention. I especially like the reference to their earlier work:

Their Downside Protection Model (DPM) is reminiscent of GEM, but with a moving average element to allow for times when it is appropriate to be 50% risk on, rather than 100% either way. Great stuff!

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