Much better, having had mostly lousy strategy's and just a few great ones, but that's not the point. I don't care what they say, there's risk in anything. Just because he had a max drawdown of 4% doesn't mean that his system won't collapse tomorow. So if you agree with this so far then the risk/reward just isn't there. Why take any risk at all when you can make more risk free at a bank? I expect possible returns greater than what a bank can offer when risking my money.
Once again you missed the "partially funded" idea. He has cut back on his leverage having only a 2.2% drawdown over the past 5 years. This means that you give him 5mm tell him to run it as if it was 50mm, the returns start to look much better. 378.93% over the past 5 yrs with a little over a 20% drawdown average 40% return a year. He doesn't have a system he is a discretionary trader.