Newsletter: Where’s the Beef (Return)?
Our most recent newsletter is up, and we’re looking at just how the focus on low risk and risk adjusted performance is hurting the hunt for returns. We put into perspective how two different programs can have identical Sharpe ratio’s, but very different results.
3 Big Reasons Commodity ETFs Aren’t Getting the Job Done
Our newsletter this week is taking a look at a regular topic of conversation around here: long-only commodity ETFs. The tendency of investors to jump on board with an investing thesis just before it turns sour is almost legendary. Attracted to the hottest investments like moths to a flame, they flutter in just in time […]
Newsletter: Trend Following, Style Drift, and Portfolio Hedging – from Quest Partners
We think the team over at Quest Partners includes some of the smartest in the business, and we’ve posted their periodic research pieces in our newsletter before – so we were thrilled to get one of their new research pieces in our inbox last week. And this time, they’re taking a look at a subject we’ve covered quite a few times around here.
Newsletter: So You Want to Be a CTA…
There are plenty of alluring stories to entice skilled traders to try their hand at becoming professional Commodity Trading Advisors (CTAs). Taking the leap from trading your own money to managing others’ is the first step toward building a legend of your own, but how realistic is it to turn that gleam in your eye into a successful enterprise and tens of millions in the bank?
Newsletter: Three Emerging Managers Worth Watching
Our weekly newsletter is out, and we’re examining some of the Emerging Managers on our CTA program rankings. We require a 36-month track record for inclusion in our rankings, so when an up-and-coming manager hits their 3rd birthday, we find it’s a good opportunity to take a closer look at their record and trading style prior to hitting the rankings.
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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