[scrichley]

Scott, thank you for the quick response! Sorry I’ll try to make my question more clear. I understand the new algorithm should come with smoother returns. My question is should we expect a reduction in expected CAGR going forward based on the back testing?

[scrichley]

I very much prefer the new strategy for the reduced trading/slippage as well as for smoothing out returns resulting in the improved Sharpe ratio. Can I ask the management how the move to adaptive asset allocation should affect the alpha of the algorithm? I would expect if back tested all the way back, there might be some small reduction? I’m sure this strategy adjustment was back tested prior to the official change.

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