Before revision:  The efficiency of fractal estimator plays a significant protective role for the periods of market abnormal volatility and drawdowns, which allows beating the market in the long term perspective. The provided results may be useful for a wide range of quantitative investors, including hedge funds, robo-advisors and retail investors .
After revision:  The efficiency of fractal estimator plays a significant protective role for the periods of market abnormal drawdowns. Consequently, it may be useful for a wide range of quantitative investors, including hedge funds, robo-advisors and retail investors .