The 2025 market review draft, talking Bears, Crypto Cycles & AI Paradoxes with David Dziekanski & Zed Francis
Kick off the first episode of 2026 with a fun, draft-style market showdown as host Jeff Malec is joined by David Dziekanski and Zed Francis on The Derivative. Using funky categories and plenty of hot takes, the trio drafts everything from “wait, that’s still a thing” trades to market overreactions, false idols, and narratives that […]
WORLD STOCKS END 2025 STRONG WITH DECEMBER GAIN
As December 2025 came to a close, markets reflected a mixed performance across asset classes. World Stocks led the way, posting a +2.57% return for the month and solidifying their position as 2025’s top performer with an impressive +32.60% gain. Managed Futures finished strong with a +1.15% return in December, marking its fifth consecutive positive […]
Gold’s Been on a Tear. If You’re Going to Play in This Sandbox, Here’s What You Need to Know.
Gold has had a remarkable run in 2025, and that performance has spawned a fresh wave of articles proclaiming that gold has outperformed stocks over 20- and 30-year periods. The headlines are eye-catching, and the underlying data isn’t fabricated. But here’s the nuance that often gets buried: most of that outperformance is price-based. On a […]
Markets Cool in November: Real Estate Takes the Lead
November 2025 saw modest movements across most asset classes, with U.S. Real Estate staging a notable comeback, gaining +2.37% after October’s decline. Despite the monthly gain, U.S. Real Estate remains up 5.75% for the year. Most asset classes posted small positive returns for the month. Bonds gained +0.60%, pushing their year-to-date return to 7.43%. Commodities […]
Stranger Things Seasons as the 2007-2009 Global Financial Crisis
With Season 5 of Stranger Things dropping soon, we thought a proper series review was in order. And being market nerds, naturally we’re rewatching the entire saga through the lens of the 2007-2009 Global Financial Crisis, because what better way to understand interdimensional horror than through the lens of systemic financial contagion, failed risk models, […]
Disclaimers
Managed futures, commodity trading, forex trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. You should not rely on any of the information as a substitute for the exercise of your own skill and judgment in making such a decision on the appropriateness of such investments.
The entries on this blog are intended to further subscribers understanding, education, and – at times – enjoyment of the world of alternative investments. Unless distinctly noted otherwise, the data and graphs included herein are intended to be mere examples and exhibits of the topic discussed, are for educational and illustrative purposes only, and do not represent trading in actual accounts. Opinions expressed are that of the author.
The mention of specific asset class performance (i.e. +3.2%, -4.6%) is based on the noted source index (i.e. Newedge CTA Index, S&P 500 Index, etc.), and investors should take care to understand that any index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.
The performance data for various Commodity Trading Advisor (“CTA”) and Commodity Pools are compiled from various sources, including Barclay Hedge, RCM’s own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor’s disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor’s track record.
The mention of general asset class performance (i.e. managed futures did well, stocks were down, bonds were up) is based on RCM’s direct experience in those asset classes, estimates of performance of dozens of CTAs followed by RCM, and averaging of various indices designed to track said asset classes.
The mention of market based performance (i.e. Corn was up 5% today) reflects all available information as of the time and date of the publication.
The owner of this blog, RCM Alternatives, may receive various forms of compensation from certain investment managers highlighted and/or mentioned within the blog, including but not limited to retaining: a portion of trade commissions, a portion of the fees charged to investors by the investment managers, a portion of the fees for operating a fund for the investment managers via affiliate Attain Portfolio Advisors, or via direct payment for marketing services.
Managed Futures Disclaimer:
Past Performance is Not Necessarily Indicative of Future Results. The regulations of the CFTC require that prospective clients of a managed futures program (CTA) receive a disclosure document when they are solicited to enter into an agreement whereby the CTA will direct or guide the client’s commodity interest trading and that certain risk factors be highlighted. The disclosure document contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA.
See the full terms of use and risk disclaimer here.
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