Trend following enhances returns and controls risk. Also known as the momentum factor, it is one of a handful of factors in investing with a proven ability to generate alpha. This month, @ByteTree has relaunched ByteTrend (bytetrend.io/) to help investors analyse, understand, and capitalise on the momentum effect. The chart shows the returns from buying winners (blue) vs buying losers (red). The momentum effect has generated a 16x return over the past thirty years.