Asset Class Scoreboard: September 2022
And for its next trick – managed futures will try and make money without the help of commodities. That mantra was seemingly playing out in September and throughout the 3rd quarter as managed futures shrugged off reversals lower in commodity markets and continued to post positive gains thanks to an incredible up trend in the […]
Mutual Fund Performance: August 2022
At first, August looked like it would continue this bear market rally, but the trend kicked back in. Led by bonds dropping, the world started pricing in a stronger fed stance. Stocks turned over, and the dollar strengthened. Stock volatility (i.e., VIX) rose but in a more orderly way, making it challenging for some long volatility […]
Mutual Fund Performance: July 2022
July provided a relief rally for the still-correlated stocks and bonds much to the chagrin of doomsday prophets. Volatility fell most every day of the month providing a good test for long volatility strategies. Commodity markets were mixed in performance and choppy, lacking a coherent theme (Natural Gas the notable exception). This proves difficult for […]
A Standpoint Story
Cool video from the team at Standpoint animating their equity curve versus global equities for the past 30 months, see below. It’s a little disconcerting to see the past 30 months of our lives, some of the oddest and stressful months a lot of us have ever seen, distilled down into a scant two minutes […]
Asset Class Scoreboard: July 2022
There it was…the old dead cat bounce as investors suddenly decided maybe things are so bad the Fed will not just stop raising rates, but eventually cut rates – and started buying hand over fist in reaction. And what a bounce it was for US Stocks and Real estate, which both threatened double-digit single-month returns […]
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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