Weekend Reads: Cheese and Butter Futures

Yet while we’ve been boring and frustrated, we’ve also been preserving capital and providing a return stream independent  from anything else your clients are invested in.”

Managed Futures Strategists Look Forward As Bull Market Continues – (FA Magazine)


Open interest, or outstanding contracts, for cash-settled cheese options climbed to a record 41,832 on Wednesday, Chris Grams, a spokesman for the CME Group Inc., said in an email Thursday. The measure for cash-settled butter options and futures also rose to an all-time high at 15,206.

Why Cheese Options and Butter Futures Are More Popular Than Ever – (Bloomberg)


From pension funds to endowments to financial advisers to individuals, investors rely on Morningstar’s star ratings to help divide $16 trillion among America’s mutual funds, in much the way shoppers use Amazon’s ratings to pick products.

The Morningstar Mirage – (The Wall Street Journal)


Tightenings become progressively more concerning because as you move along they’re more and more difficult to get perfect,” Dalio, founder of Bridgewater Associates, said in an interview on Bloomberg Radio. “As we’re progressing, we’re entering a period of greater risk in the nature of the market.”

Ray Dalio Is Worried About the Bond Market – (Bloomberg)


SocGen has a fun note out this morning looking at how machine learning algorithms perform against more basic stock picking strategies. Spoiler: they mostly win, but then lose badly over the past two years:

Machine learning the market – (FT Alphaville)


But it’s here that Saudi Arabia’s crown prince plans Neom, a city from scratch that will be bigger than Dubai and have more robots than humans. Crown Prince Mohammed bin Salman envisions it as a “civilizational leap for humanity” outside the traditional Saudi constraints and a business hub with advanced manufacturing, bio-tech, media and airlines.

Sun, Sea and Robots: Saudi Arabia’s Sci-Fi City in the Desert – (Bloomberg)


The interim final rule prevented farmers from having to prove in court the company’s actions not only harmed them individually, but also harmed competition throughout the entire industry.

Trump officials quash litigation rule for farms – (The Hill)


The NYSE FANG+ index includes 10 highly liquid stocks that represent the top innovators across today’s tech and internet/media companies.

Trade the Top of Tech with NYSE FANG+ Index Futures – (ICE)


A new “transparency center” will have a database of all ads currently running on the platform, with more disclosures for political ads.

Twitter will now label political ads, including who bought them and how much they are spending – (CNBC)


It’s the difference between stamping the “Jumpman” logo on a business and Michael Jordan endorsing that same business in an interview. The former carries considerable risk, the latter, much less.

‘Downtown Josh Brown’ As A Brand – (Heisenberg Report)


Automation of oil rigs means that one rig can do more with fewer workers. In fact, it’s expected that what once took a crew of 20 will soon take a crew of 5.

Rise of the Oil Robots – (Reformed Broker)



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