You read the paper? Keep in mind this is not a battle nor defense of some firm for me--the trend following paper they wrote is the issue.
Regardless, AQR is not a trend following fund as you stated "the trend fund AQR ......" Dats wa I'm talking about, not the paper they wrote.
Trader/author Peter Brandt is on the podcast now: https://itunes.apple.com/us/podcast/trend-following-manifesto/id151217747
All 80+ podcast episodes at one easy download: http://www.michaelcovel.com/2012/10...es-new-episodes-monologue-and-interview-live/