Of Corn and Silver: Evaluating Margin Raises
As corn surges higher and higher on the back of last week’s USDA report which showed low inventory levels, the CME has raised margins 16% to ensure that participants in this rally are able to handle the rapid movements. Some people see margin raises as an attempt to curb speculation and lower prices, but that […]
When to Risk a Lot for a Little
While we’re not necessarily big believers in trades through which you risk a lot to make a little ($5,000 to make $500 for example); there are many believers in such strategies (Warren Buffet is one through the puts he sold in 2008 and his insurance units, which are in essence a big premium collection program). And […]
We estimate Managed Futures down -1.65% in March
We’re looking at managed futures having ended March down about -1.65%, using a combination of data from the Newedge CTA index and the CTAs that we track on a daily basis The losses were driven by the sharp sell off in stocks, currencies, and commodities (and rise in bonds and Jap Yen) following the […]
Are limit moves all that scary for managed futures programs?
The USDA Crop Report out today is causing spikes higher in the grain complex, with Corn limit up (+30¢) on the news that corn stocks are at their lowest levels since the mid-1990s. The US is currently sitting on what amounts to two weeks of corn in reserves. (Yikes) We often get questions from investors […]
Lessons Learned from 37 Years of Futures Trading
Our newsletter for the week is up, and this time around, we’re taking a break from our traditional analysis to pay tribute to Ms. Barbara Mueller- an institution in the industry who is heading into retirement. It has been an honor to work with someone as knowledgeable, talented and motivated as Barbara, and here she provides […]
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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