What is Outsourced Trading?
In today’s complex financial markets, investment managers, whether they are running private funds or ETFs and mutual funds, are facing challenges that would have seemed unimaginable a decade ago. Picture this: it’s 1:00 AM, you’re on your third coffee, simultaneously watching Asian markets close while European ones open, all while trying to remember if you […]
The Polymath Pod: Jason Buck and Zed Francis talk rates, vol, and cheeseburgers?!
To close out the 2024 season of the Derivative podcast, host Jeff Malec sits down with two friends of the pod, and friends of his – Jason Buck (@jasoncbuck) and Zed Francis (@convexitas) – for a wide-ranging discussion on the state of the markets, the unpredictability of macro events, and the importance of understanding underlying […]
Asset Class Scoreboard: October 2024
In October, most asset classes experienced setbacks amid increased market volatility: Global equities faced significant headwinds, with the ACWX world stock index falling -4.65% on concerns over slowing economic growth and geopolitical tensions. U.S. stocks showed more resilience but still declined, with the S&P 500 slipping -0.89%. Real estate also encountered challenges, with the IYR […]
Retail to Institutional: How David Sun Scaled His ODTE Options Strategies
In this episode, Jeff Malec sits down with David Sun, an entrepreneur, trader, and fund manager with a unique journey into the world of options trading and alternative investments. David shares his unconventional path, starting as a retail trader experimenting with options strategies, particularly selling puts, before transitioning to professional fund management. He discusses the […]
October, CTAs, and the Year of the Whipsaw
Oh, to be an investor, where the markets often seem to do something completely different than what you thought was going to happen. The old buy the rumor, sell the news axiom, perhaps? But whatever you call it, October brought the idea home hard. Here we were expecting some Q4 magic in the CTA space, […]
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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