Chicago: Home of Futures Industry welcomes Conferences
The fall weather showed up today in the Windy City, reminding us that the two September industry events in Chicago are right around the corner. Next week, the NIBA conference kicks off Wednesday, September 18th, followed by the CTA Expo, on the 19th. Futures brokers looking to catch up on the latest regulations, CTA managers looking to raise money, vendors like lawyers and auditors, and everyone in between will be there – and naturally, the Attain team will be at both events as well as meeting with several managers in our offices. In addition, Attain’s CEO, Jeff Malec, is on a panel at the NIBA speaking on his role as the IB rep on the NFA Board of Directors.
Weekend Reads
You know it’s been an interesting week when Russian President Vladimir Putin suggests the idea that could potentially save America from its own foreign policy problems regarding Syria. In the managed futures world, Attain Capital did get some press this week that we can’t resist mentioning, with Jeff Eizenberg quoted in an article on the supposed ‘death of managed futures’. It just so happens to be the first article on our weekend reads. See for yourself.
Weekend Reads – September 6, 2013
Despite weaker than expected job growth, unemployment dipped slightly this week, matching levels last seen in December of 2008. Traders have reacted positively amid optimism that the weaker than expected job growth will lead the Federal Reserve to once again delay its decision to begin tapering its stimulus program.
Commodity Futures vs. ETF Performance – August
Whenever we need a pick me up or something to brighten our day, the underperformance of commodity ETF’s usually does the trick. But the ETF’s have held in there remarkably well so far this year against a simple strategy of buy and hold the December futures contract and roll it annually (down just 26 basis points on average). The real story, however, is the underperformance of either long only strategy.
Weekend Reads
As we head into this holiday weekend commemorating our labor force, with friends, family, and barbeques, all eyes and ears are on Syria. As we watch and wait for how the U.S. is going to respond, here are some weekend reads to fill some time.
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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