Crude Traders…. Remember the Middle East?
Like a Fresh Prince of Bel Air flashback from the early 1990s, middle east violence and geopolitical fears shot back into commodity traders’ lexicon yesterday – with Oil spiking nearly 20% on news there was a coordinated drone attack against Saudi Arabia’s oil infrastructure. The fantastical headlines by the likes of CNBC followed shortly after: […]
Here’s how 33 markets performed since the 2009 low
For long-time CNBC watchers, you no doubt remember the now deceased Mark Haynes saying 10 years ago, on the morning of March 10th 2009, that it felt like a bottom and that he thought this rally had legs. It didn’t hurt that the S&P 500 put in a devilish low of 666 the day before. […]
Throwback Thursday: Vixmaggaedon
Last year around this time, stocks had just given investors a 6% return in the month gone by, after posting 21% in 2017, after averaging about 15% per year in the eight years before that. It seemed like all systems go – business as usual – with a benign VIX reading of 13.50 showing markets […]
John Cummings talks Context, AI, and Portfolios
We felt a little guilty being down in Miami at the beginning of the month while Chicago was clocking in at -20 degrees, but the MFA and Context conferences down there each year are the places to be for a group like ours given our roles as allocators, cap intro partner for managers, and as […]
Are we in a new (higher) VIX regime?
Orange is the new black. Different is the new normal. Is 20 VIX the new 15 VIX? That’s the question put forward by Bloomberg in their recent piece titled: “Battered and Bruised, Wall Street Makes Peace With Volatility”, where they have some juicy lines like: Markets are “beginning to accept a shift in the volatility […]
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.
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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.
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