Newsletter: Sell Everything and Buy Stocks
Our weekly newsletter is out, and we’ve decided to give up. We’re throwing in the towel and recommending everyone sell their managed futures investments and put it all in the stock market. Ok, not really, we can’t really ignore this rally anymore. But does anyone really trust these past 3.5 years? Does anyone really think the next 3.5 years will be that good for stocks? And if not, how should you prepare?
If Consistency is Key…
Both individual investors and RIAs seem to be in constant search of that silver bullet investment – the one allocation that will guarantee them a life of luxury. In a world absent of such possibilities, the request we get most often is for consistency. If they can’t get a magical 7% return, can they at least get returns they can count on? After hearing the question for about the millionth time, though, we began to wonder – just how consistent has this past performance been in the managed futures space?
Managed Futures Strategy Focus: Agricultural Traders
Our newsletter for the week is out, and this time we’re taking a closer look at Agriculture-focused Commodity Trading Advisors, or as we refer to them in our office, Ag Traders. The recent grain-rallying drought in the U.S., and the resulting performance of Ag Traders during those times, has put the light squarely on these frequently overlooked options. With that enhanced attention has come a slew of inquiries, and we decided it was probably time to take a much deeper look at the Ag Trading strategy.
Looking Through the “Mirage” to Managed Futures
While we missed it when it came out, a book called The Hedge Fund Mirage:The Illusion of Big Money and Why It’s Too Good to Be True, by Simon Lack, has been stirring up discussion and argument around hedge funds. This got us thinking… do his arguments apply to managed futures, too? We tackled the issues one by one to get to the conclusion.
Managed Futures Spotlight: Briarwood Capital Management, Inc.
Our semi-annual CTA rankings were released last week, which means its time for us to take a closer look at one of our top-ranked programs: Briarwood Capital Management. They aren’t what you might expect from a top-ranked CTA – and that’s exactly why they have our attention.
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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