Weekend Reads
Fed chairman announced the delay of the QE to sometime in mid-2014. Reaction from markets resulted with a big rebound from Bernanke’s first comments. Also, did we mention the SEC voted to end a ban on hedge fund advertising? That happened. Here are some other shake ups taking place throughout the week we’ve had our eyes on.
CFTC Catching the Minnow, Ignoring the Juicy Walleye
It’s full steam ahead for the CFTC, sending a CTA to prison for lying to customers. The CFTC brought legal action against Josh Wallace of System Capital for misrepresenting to clients the company’s wealth of prior experience in trading futures, accumulating $29 Million assets under management. We’re happy the CFTC got this guy, but left wondering how they’re unable to build a criminal case against Corzine?
Doomsday, If you say it Enough, it’s Bound to Come True, Right?
Predicting Doomsday is evolving from the crazies pleading in the streets, to the next fad that doesn’t seem to disappear. Remember how we were all supposed to die during last year’s winter solstice because the Mayan calendar allegedly ended? Well, Doomsday fever is spreading in the finance world. We’ve even been a part of it. […]
Hand on the Trigger, With No Bullets
Managed Futures investors have a case of whiplash. Every time Fed chairman Bernanke opens his mouth, the markets act like a 5 year old at their birthday party. Last month, managed futures experienced risk off days after Bernanke shared the news of the potential end of the QE3 by the end of 2013. Not even a month later, Bernanke holds an impromptu press conference delaying the end of quantitative easing, leading to a Risk On day.
A Coup, Exploding Train, and Hurricane Walk into a Bar…
What do you get when you combine unrest in Egypt, an exploding train, and potential hurricane barreling down on the Gulf of Mexico? A $10+ rally in Crude Oil up to its highest levels since the spring of 2012, and really only its third major move above $100 a barrel since crashing from $150 down to $40 or so during the financial crisis in 2008. Crude is definitely on the move…
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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