Math on the Pedestal
It’s hard to be in finance and not be number nerds. But at the end of the day, is math alone enough to make you competitive? Josh Brown at the Reformed Broker tackled this subject recently, sparking a good conversation about the role of math in giving managers an edge.
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.
Platinum Goes Cliff Diving
Yesterday the news broke that striking miners in South Africa would be returning to work. Supply concerns had been driving the metal higher for weeks, but yesterday’s platinum futures chart shows what can happen when news like this suddenly breaks.
PFGBest Update: What the U.S. Bank Suit Means
In one of the most recent developments in the PFGBest case, as customers await an initial distribution decision from the court, Russ Wasendorf Jr., the former PFGBest Chief Operating Officer and son of Russ Wasendorf, Sr., has filed a suit against U.S. Bank, alleging violations of commodity law that facilitated the fraud and theft of client money. The complaint is certainly worth a read, and it may even contain some hope of good news for PFG customers.
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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