Anatomy of a Style Drift
Many an investor believes that they’re fully capable of monitoring their managed futures portfolio all on their own, and in some cases, they may be able to. Unfortunately, sometimes it can be hard to keep track of the changes taking place, and – more importantly – determining which changes are important enough to inspire action. It simply depends on the subtlety of the changes and the nuance executed in evaluation. Just how nuanced are we talking? We thought we’d break down just a handful of the elements that need to be monitored and let you decide for yourself – is this something you feel can do on your own, or would you feel more comfortable knowing you have someone on your side, looking out for your best interests every step of the way?
Managed Futures Make Tax Time a Little Easier
With the calendar rolling over to April, it is that time of year for taxpayers in America – one of America’s least favorite days of the year: April 15th… tax day. While many Americans detest this day, investors surveying their gains and losses often abhor the date even more as they compile statements to find their cost basis and take a look at the taxes they owe. However, the pain endured in the payment of taxes can differ greatly, depending on the kinds of investments you hold. Turns out, if you’ve invested in managed futures, you may be letting out a sigh of relief… unlike your stock investing counterparts.
Stocks Look Great… Now What?
The current bull market has substantially outperformed alternative asset classes, including managed futures. When stocks are soaring, it’s easy to fall into the trap of wondering why you’d ever put your money anywhere else. Add in a little context and a larger perspective, however, and a very different story will emerge.
Managed Futures Spotlight: Quest Partners, LLC
When you’ve researched hundreds of systematic, trend following CTA programs, they can start to blur together. The terminologies and philosophies become similar, and it’s hard to find what distinguishes one program from another. But every once in a while you stumble across a program like Quest Partners LLC. From where we stand, they are not just another trend following program.
That’s Just About the Size of Things
Marketing materials often rely on generalizations about an asset class, but rarely do they provide investors with the kinds of solid information they need in order to make an informed decision. You shouldn’t make decisions based on what everyone else is doing; you should invest in a way that makes sense for your portfolio. We think that filtering information further makes it much more useful. Because we’re the helpful people we are, we decided to compile filtered information on managed futures for your investigative purposes.
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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