Why is everyone still using Sharpe ratio?

Summary

• The post critiques the Sharpe ratio for assuming normal distributions and penalizing upside volatility, proposing the Calmar ratio as a superior alternative.
• The author’s thesis is that traders should abandon Sharpe in favor of metrics that better account for tail risk and drawdowns.
• Quality assessment: Speculation / opinion piece. It raises valid points but lacks data, backtesting, or specific investment scenarios.