Winton Makes a Play for China?
Managed futures are used the world over by sophisticated investors, but one rapid growth space where they’ve yet to gain a foothold has been China. Despite the nation’s stellar economic growth, it’s been slow to move into the managed futures space, but one of the largest, oldest CTAs in the world is looking to change that.
Same Shirt, Different Color: Traditional 401(k) “Diversification”
As we perused the news this morning, a headline jumped out at us: How to Get Better Returns From Your 401(k). The article made a few good points, but there was a problem. When it came to diversification, we found the options… well, not so diverse – which is especially frustrating in a world where true diversifiers – like managed futures, can be a part of a 401(k).
Timing Failures
The old adage “sell in May and go away” was looking very good for stocks this year after markets took a tumble from the April highs to the June lows. Since then, however, the markets have bounced back, leaving many investors worse off. But we wouldn’t give up on timing altogether – it’s better to have some data-backed strategy instead of just blind buy and hold.
Thoughts from Atlantic’s Andrew Taylor
In a world of cold metrics and glossy brochures, there’s something reassuring about hearing it from the horse’s mouth. There’s nothing like seeing a manager laying out their approach and sentiment toward the markets to get a sense of what kind of trader they are. That’s why we love to see messages like the one we received from Atlantic Capital Advisors principal and managing director Andrew Taylor.
John Henry Looking for Moneyball
One of the most famous names to come out of the CTA space is probably John Henry – and mostly for his success as the owner of the Boston Red Sox. However, just as his foray into the world of sports is having a tough year, his main CTA, GlobalAnalytics, is also suffering – with a new max drawdown and dwindling assets.
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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