Random thoughts on Gold’s -13% plunge
About $1.1 Trillion in wealth was lost last week in Gold, and Gold is currently in a Drawdown of -25% (1900 down to 1425)
Copper Headed for the Floor
We’ve enjoyed watching the recent selloff in copper. It’s been one of the best trades of 2013 for trend followers. Unfortunately, the party might be coming to a grinding halt soon. With copper prices nearing the cost of production, it doesn’t look like this trend has very much room left to run.
Can’t Do That Here
Why do these ridiculous ads promising people the world catch our eye? Maybe because we always feel it is a little unfair. NFA registered firms essentially have to put the “poison” symbol skull and cross bones on any advertisements we do, and litter our materials with caveats and disclaimers. Suffice it to say, you couldn’t run this ad in the futures industry.
Options Sellers, Meet Volatility
Three weeks ago we wrote this newsletter detailing the recent comeback seen by options sellers and short volatility strategies. The crux of the story was that while these strategies had made an impressive comeback after two years of disappointing performance, that investors should still be wary of the potential for losses during the next volatility spike. Well the volatility spike that we were all waiting for started gaining steam last week before hitting the max capitulation point yesterday in precious metals. The results, as you might expect, are not pretty.
Newsletter: Three Emerging Managers Worth Watching
Our weekly newsletter is out, and we’re examining some of the Emerging Managers on our CTA program rankings. We require a 36-month track record for inclusion in our rankings, so when an up-and-coming manager hits their 3rd birthday, we find it’s a good opportunity to take a closer look at their record and trading style prior to hitting the rankings.
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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