Managed Futures not going anywhere until Bonds wake up…
What a snore bond futures have been lately…. Take the 30yr bond futures. Since rising 21% from Apr. – Aug., then selling off 11% from the end of Aug. through mid Dec., they have been locked in a tight range of just +/- 1.5% from their average. We mentioned in a newsletter last year how […]
Newsletter: 2010 Reviews on 53 different Managed Futures Programs
After more than 5 weeks of painfully extracting information from 35 different managers we work with (you would think they would be more willing and able to share the how, when, why, and where of the year just gone by), our annual CTA by CTA review highlighting what happened for each of the programs we […]
Time to exit the long gold trade?
With Gold crossing below its 100 day moving average last week (after crossing below the 80 day the week before, and 50 day the week before that), some managed futures prorgams we track were seen exiting long positions in the metal. With Gold having gone nearly three months now without making a new high, a […]
Weekend Reads…
Not much work happening in Chicago today with the pending Bears vs Packers showdown on Sunday….. but a few articles catching our fancy this week you may want to check out… Gold net Longs hit lowest since July 09 (The Big Picture) MF Global Settles Lawsuit Related to 2008 Wheat Loss (Bloomberg) Managed futures strategies […]
How can $1.8 Billion be so wrong on USO, the crude oil ETF
Following our last post in which we mentioned how commodities were down in 2010 based on energy being flat and the problem of cost of carry/contango – we had a client asking us to update our chart on the spot price of Crude Oil versus the performance of USO, the ETF which is supposed to […]
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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