Look out Below; Watch out Above?
We were just getting ready to comment on the increasingly down mood in many markets lately, but wouldn’t you know it – as soon as we began, the market started to rally… and then we come in this morning to another neon-green rally. So are we looking out below, or watching out above?
Weekend Reads
The week’s highlights included news that Hostess is shutting down, the founder of McAffee antivirus software is wanted for murder in Belize, and Israel began live-tweeting the IDF’s military operations in Gaza. It’s a strange world out there. For more of the strangeness, check out our weekend reads.
Creeping Towards Justice for Corzine?
As if the loss of customer funds wasn’t bad enough, we’ve had to spend the past year knowing that Jon Corzine, architect of MF Global’s collapse, was a free man. More than a few people we’ve talked to hold a serious grudge against this man…we certainly can’t blame them. But a new report out of Congress is giving us a glimmer of hope that Corzine may yet suffer the consequences of his decisions at MF Global.
Beauty Before Brains in CTA Selection
We’re big fans of the short research pieces periodically released by dating website OK Cupid (in fact, it was the subject of our very first blog post). Armed with a huge pool of data from online singles in search of love, they often have fascinating, and occasionally surprising insights into human behavior and courtship. And the way we see it, these often hold lessons for investors, as well.
Managed Futures and the Fiscal Cliff
The fiscal cliff has already started dominating the headlines even though the end of the year is still over six weeks away. The looming budget negotiations will have an impact on just about everyone, but for managed futures, the story is a little bit different.
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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