Why Did the 6,400% Man Stop Trading?

Martin Taylor of Nevsky Capital said goodbye to investors last month in a letter that, as my Bloomberg colleague Mark Gilbert noted, signaled that Taylor may have “lost his appetite for the daily fight to outsmart the market.”

Despite racking up a return for his investors of more than 6,400 percent between 1995 and 2015, Taylor said he decided to hang up his cleats as an emerging markets manager of Nevsky and its predecessor because “what we have done has worked brilliantly for twenty years but does not work any more.”

Might there be more to it than that?

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