buy-and-hold - we need it to compare with in every backtest!!!!
In every backtest, the built-in-comparison should be against buy-and-hold without all the bells and whistles of using other methods to determine it. Just put it proudly and bluntly on every graph as a record of how all your trading does against buy-and-hold and add a second draw-down for buy-and-hold. This gives a base-line for people to compare with.
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Stuart Cracraft
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