He can't explain it because there is no clear definition of prudent. Also, if he was right, he could have written a book about it and collect the royalties... Money management itself is not a strategy, it is part of the strategy. Money management doesn't give you an entry signal, only the exit and only when it is a loss...
Technically, money management can be a strategy. It can give you an entry signal...STOP and REVERSE. It can exit with a profit...TRAILING STOP LOSS.
I thought I explained the concept. It's simple really. A system such that there exists a trailing stop. When the stop is hit, the system reverses direction. Pick any direction...lets say long. Go long. Set trailing stop. When stop is hit, go short. Reset trailing stop. Repeat. This system doesn't pick directions...pure money management.
So the system doesn't give an entry you just go long or short RANDOMLY. But I got the picture. And it is offtopic here, maybe we should start a separate thread about PMM a la B1S2....
Wouldn't call it random, and I'm not sure what PMM... is. But I'm likely not interested in proving anything. I've already made such an algo before.
Support/resistance has always worked, but breakout strategies generally work only in bull markets, of course.
The system can actually make money? If it does, then probably PMM is really an edge. But only to markets or instruments that trend more than range.
Yes, it made money (in theory) in the instrument I tested it in. (I don't recall right now.) You can get creative...devise mechanisms to dynamically vary the trailing stop...use (dynamic) minimal time based holding periods...so many possibilities! I only mentioned it because I see so many people regurgitating the same untrue "truths."