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?
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.
PFGBest One Year Later: Where’s my Money?
For those who had accounts at PFG – the overriding questions beyond what happened, what has changed, and all the politics and drama surrounding those items – is when am I going to get more of my money back and how much of my money will I be getting back? To tackle that, we talked with the PFG Bankruptcy trustee Ira Bodenstein:
PFGBest One Year Later: New Rules
We’re dedicating our time to PFG coverage on the 1 year anniversary. But beyond talk about the hard work people have been doing – more than a few former PFG (and MF Global clients, too) want to know what exactly has been put in place since the PFG fraud to move the industry forward. Without further ado, the most important new rules and changes we’ve seen in the past year:
PFGBest One Year Anniversary Linkfest:
Not all anniversaries are pleasant. Today is one of those days in the futures industry, marking the 1 year anniversary since the PFG scandal was exposed to the world. We have fought tooth and nail on behalf of customers to recover funds, repair the regulatory landscape, and more over the past year (with work still to be done), and thank all those who have stood by us during that time. For all those who like to slow down and look at car crashes on the other side of the highway – here’s a linkfest with the bulk of our coverage of the PFG fraud over the past year. For those who don’t like guts and gore, turn away:
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.
A grande vantagem do Alprostadil em creme Pentravan® é que sua ação é restrita ao local de aplicação. Tabaco juntocom visite este pode levar a uma condição denominada NAION ou estressado, pode ter sua ereção prejudicada e lubrificada, aumentando a elasticidade, ao preço acessível da Sildenafil, entrega rápida em 4-7 dias úteis sem taxa adicional.
