Winds of Change, Cocoa Collapsing
Chances are, you don’t think about eating chocolate based on the price you paid at a Walgreens, but the recent change in the price of cocoa beans can’t be ignored.
Don’t Call it a Comeback – Part II
That’s why you invest in a process, not a track record. For now, it’s worth acknowledging and recognizing that drawdowns can end. That investors can be rewarded for investing in drawdowns, and that managers can pivot and improve without abandoning their roots and core beliefs about markets.
Back To Backwardation for Crude?
One quick look at the Crude oil market over the past five years – it’s easy to see the development of a $8-dollar range that’s made it tough for most energy traders (here’s the exception) to find returns. We mentioned in our recent 2017 Outlook that the Oil market is poised for a breakout either […]
Rickety Rationale for Commodity Investing
More than a few are likely to be confused and/or upset when and if commodity prices go on a tear higher and their absolute return program doesn’t keep pace.
How Will Trump Affect the Global Macro / Managed Futures World?
Today, we published our 2017 Managed Futures/Global Macro Outlook, and there’s one rather ‘in the news’ figure we couldn’t help but analyze given his penchant for market moving tweets and what not.
Yes, It seems leaders in the industry are thinking Trump could very well, “Make Discretionary Marco Great Again.” The thought process is Managed Futures and Global Macro styles should expect….
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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