Traders lament low volatility in markets the same way 12-year-olds complain there is just not enough action in this town for them. In both cases, they should be careful what they wish for, and, while I cannot speak for the nation's adolescents, I can note liquidity tends to disappear and trading activity diminishes during times of extreme market stress. Returns tend to disappear, too: The 2015 year-to-date returns through Oct. 21, 2015, for the macro/CTA hedge funds, as reported by Hedge Fund Research, were -3.31 %.
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