Every month, we kick off by providing an estimate of CTA performance from the previous month, based on preliminary data from the Newedge CTA Index, Credit Suisse Dow Jones Core Managed Futures Index, and the performance of the CTAs we track here at Attain. The books are officially closed on the first month of 2012, and the performance we saw in managed futures was pretty lackluster. We are estimating managed futures as an asset class finished January down -0.30%. What, exactly, contributed to this performance?
Every month, we compare how long-only commodity ETFs perform in comparison to simply trading the related futures contract and rolling it annually. This month, there were some interesting results. How interesting?
Every month, we update our asset class scorecard, pitting managed futures against U.S. real estate, world stocks, U.S. stocks, commodities, hedge funds, bonds, and cash on year-to-date performance. What was the score in the first month of 2012?
Every month, we break down the performance of managed futures versus the main ETFs and mutual funds that call themselves managed futures. What did that mean in January 2012?
There are many out there that question the status of financial regulation. Being subject to NFA and CFTC regulation, we can tell you it’s not as lackadaisical as some would have you believe… especially compared to other industries. What do we mean?
We headed down to the TD Ameritrade Institutional Conference in Orlando this week, where RIAs, asset managers and service providers gather annually to discuss investment strategy and ways to better serve investors during these tumultuous economic times. It’s been fabulous thus far, with great information and ideas at every turn.
Dr. Jeremy Siegel of the Wharton School of the University of Pennsylvania addressed attendees, with a heavy focus on the state of the bond markets worldwide in light of target inflation rates and an extension of the zero bound rate environment announced by the Fed. We’ve covered the Fed’s actions on the blog previously, but Dr. Siegel’s personification of an avid bond investor, particularly in TIPS, not only got a round of laughter from the audience, but was spot on.
The conference continues in Florida, where Craig Alexander from TD provided a concise overview of the global economy’s trajectory. Unlike Dr. Siegel, his view is not quite as rosy. While the salesman in him was trying hard to see the glass as half-full, the economist in Alexander and the data presented painted a more dismal and, in our opinion, more realistic view of what’s ahead.
The eTrade baby made yet another appearance at the Super Bowl, so we felt it was time to revisit our beef with the ad campaign.
It’s that time of year again, when we have the data for all of the CTAs we track through the end of 2011, allowing us to try and answer the question we get on a daily basis: What’s your BEST managed futures program? That question is always a tricky one, as depending on who is asking it, they may want to know any one of several variations on who is best. Best last year? Best for all time? Best risk adjusted return? Best in terms of lowest drawdowns?
This time around, we’re mixing things up- with an exciting new ranking algorithm, and a breakdown designed to be more useful to investors attempting to gain insight into the industry.