Major Problem with Bill Chin's Article on Variance

[Sniper]

Actually, 2x equity turnover for a day trader would be considered very low.

Consider that a Day Trader can have positions up to 4x equity at any given moment and turn that over several times a day.

However, he didn't classify himself as a day trader (which it sounds like he is), he stated he was a hedge fund. Turning over 2x equity every day would be a bit unusual for a hedge fund, unless he's day trading around core positions.