Weekend Reads
The market is up- no, wait… now it’s down- oh, but now it’s up again… If you’re having a hard time keeping up, join the club. Europe is pinning its hopes on France, which is never a good sign. China is facing major concerns about their growth rates. The U.S. has formed their super committee […]
Anatomy of a Trend Following Trade – the Short Side
We’ve talked a few times this week about how managed futures are long volatility investment which tends to do well in a crisis because they have a fixed risk, yet can make as much as the market offers up when volatility expands; but we haven’t touched on the seemingly simpler reason managed futures can do […]
Bus Theory: Risk Management in a One Man Shop
The American way has long been to go out, pull yourself up by your bootstraps, and make something of yourself. This rugged individualism has fueled innovation and growth for years upon years, but there’s one world where being the lone wolf can actually hurt you. Managed futures. A managed futures program, speaking abstractly, relies on […]
Managed Futures Performance- July 2011
The Dow Jones Credit Suisse Hedge Fund Index has released their final estimates for July, and Barclay Hedge has over 77% of funds reporting, making their numbers more or less final for July – leading us to be able to post final July numbers for the leading CTA indices. [Disclaimer: Past performance is not necessarily […]
Where do managed futures go from here?
Our newsletter is up for the week, and this time around, we’re discussing the VIX. We ended one of our blog posts last week asking where does volatility go from here? That is the million dollar question. Are we at mid 07, about to see 18 more months of high volatility; or are we at […]
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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