Vol Persistence, The Unholy Trinity of Risk, and the (100 yr) Dragon Portfolio for our 100th episode with Chris Cole
Picture this…Downtown Chicago…December 2019 B.C. (Before COVID)…The RCM crew is venturing out to a small studio ready to record the first episode of The Derivative, with no video or clue what we were doing! Who would have thought we would be crossing the 100th episode mark just two short years later!? And, we couldn’t celebrate […]
Asset Class Scoreboard: February 2022
February brought slight improvements to most of the asset class categories during the second month of the year. However, many were still left in the red. While World Stocks continued to drop, and with the moderate increases in Hedge Funds, U.S. stocks, bonds, and U.S. Real Estate, they all remained in the negative. As for […]
A Macro take on Russia’s Gambit, Oil, Gold, Bitcoin and more with Luke Gromen
Oil prices spiking. Wheat at new highs. A bid in Bitcoin. Russia’s invasion on its neighbor, Ukraine, got the world’s attention and moved all sorts of markets. While our human side rallies around the Ukrainian people, our financial minds turn to wondering what is going on and what impact this chaos will bring on? To […]
A Closer Look at the Average Historical Return for CTAs
A lot of talk on Twitter this week pointing out that CTA / managed futures/trend following has been doing quite well during this sell-off and rally in commodity markets like Oil….without much in the way of investor interest?? SG CTA Trend index is up >8% year-to-date and it feels like people still aren’t interested in […]
VIX in the 30s, talking market shocks and VIX spikes with Brian Stutland of Equity Armor
With news of Russia invading Ukraine, it was as scary, market-wise, as it’s been since March of 2020 with global stock indices selling off rapidly overnight to send the Nasdaq into bear market territory, SP into correction, and the Nikkei to 15-month low. As the craziness ensued, VIX spiked up to 34 – so we got VIX expert […]
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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