Kosta Ouzas recounts an anecdote from Token 2049 in Singapore where his Minotaur trading systems booth attracted a trader claiming a basket of uncorrelated crypto assets generated 30% per week. After the October and November crashes he checked the copy-trading link and found a 99.77% drawdown, illustrating a dramatic failure of those claimed returns.
Kosta Ouzas
Token 2049 (Conference Token 2049) in Singapore
30% a week
99.77% drawdown
October and November
So let me take you back to Singapore. Earlier this year, at the Conference Token 2049, we had the Minotaur trading systems booth set up showing people how our price agnostic approach targets conservative returns with risk fully understood and managed at all times. And then this guy, he walks up, he takes one look at our system and he starts laughing. He tells me, dead serious, that he's running a basket of uncorrelated crypto assets that generate 30% a week. He promised to send me a copy trading link because, quote, when you see the performance, you're going to want to put serious, serious capital behind this. I already knew where this story goes. I know those type of returns are insane. But I did track it. And just a few weeks later, we got the October crash, followed by the November crash. So I checked the link. 99.77% drawdown. Not down bad, not struggling. This is completely obliterated. So when I messaged him about the 99.7% drawdown, his reply had kind of changed tune. He said, it's kind of obvious why it got destroyed, isn't it?
