Managed Futures in the post Lehman/Madoff era, via FINalternatives
Nice managed futures educational/promotional piece by Bruce Mumford of 2100 Xenon Group in FINalternatives today explaining how managed futures have looked in the post Lehman/post Madoff era. A few highlights: …Lehman and Madoff illustrated the need for the very best of what the managed futures industry has to offer, specifically transparency, liquidity, and uncorrelated returns. […]
CFTC moves closer to new position limits
While most people forgot about the clamor to limit speculation in commodities after the large sell off in commodities off all time highs in 2008 – the CFTC didn’t. Via Reuters, we learn that the CFTC has proposed a new set of limits, while caving on some earlier rules. View article here: https://www.reuters.com/article/idUSNLLGNE6Q120101216 What does […]
Newsletter: Spotlight on Cervino Gold program
Our weekly newsletter is up at: https://bit.ly/f8cy19 We highlight Cervino Capital Management and their new (relatively so) Gold Covered Call program which aims to 1. capture upwards movement in Gold, 2. provide income via covered calls, and 3. provide downside protection in case the Gold rally runs out of steam. If you believe in the […]
Miscellaneous Managed Futures Reads
Some interesting articles we’re reading to open up the week: 1. Death of LaSalle St. From Emily Lambert on the Forbes blog, we learn that the Chicago futures exchanges may have ‘sold out’ to the large NY banks after fighting the good fight for so long in the exchange based vs. over the counter derivatives […]
2 year anniversary of Madoff arrest
Tomorrow will mark two years since Bernie Madoff was arrested for what is now known as the biggest Ponzi scheme in history; with the US Trustee marking the occasion with a $19 Billion civil lawsuit today (read here). But what has changed since then? It doesn’t seem like a whole lot has changed….. Hedge funds […]
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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