The theme for June is “non-correlated does not mean negatively correlated.” We’ve written about this before. While equities continued their bear tread and bonds seemed to hit a temporary low, volatility never really picked up. The real story seemed to be in commodities. Agriculture, metals, and energy all reversed course as the world began to digest […]
It’s a bird, it’s a plane… no, it’s managed futures, clocking in with gains once again this year as other assets get hammered down. It won’t always be like this… it hasn’t been like this for a while. But it’s here now. What’s more, managed futures did it this month without the commodity headwind, relying […]
Wait a second… Managed Futures can go down? Stocks and Bonds can go up? May showed us it is never quite that easy for asset classes to continue printing positive month after positive month (or negative after negative month) into infinity. Trends do end. Reversals do happen. Value buyers come in. Profit takers take profits. […]
Look who’s on TOP !! It’s been a while…so we’ll thank you for the courtesy of a small victory lap. And boy, is this time different. Managed futures typically does well in market crisis periods when all risk assets correlate, sending markets like energies, grains, and metals lower alongside stocks, all with a nice kicker […]
There are some eye-popping March returns for managed futures programs hitting our inboxes this month, whether Auspice’s +8%, EMC’s +9%, or Quest’s +13% (you can learn more about each of those managers in our recently published trend following whitepaper here.) This broad success across many managed futures and trend following programs has pushed SocGen’s CTA Index […]
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.
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