A Golf Caddy, his mom, and Warren Buffet on Gold
A caddy on the golf course this past weekend asked one of Attain’s partners (Jeff Malec) what the caddy’s mom should do with her Gold bars. Mr. Malec asked the caddy if he had ever heard of Warren Buffet. But those reading the Wall Street Journal of late might think the play is to ditch the physical gold and instead invest in Gold Mining companies.
Asset Class Scoreboard YTD
Everyone down, now everyone back up (except you commodities…). Seems like everything has been moving in tandem of late, with everything reversing their July losses for gains in August.
Bloomberg Vomits Alternatives
We couldn’t resist this Bloomberg headline the other day: “Classic Cars, Lean Hogs and Duchamp Art Lead Alternative Investment Ranking” Cars, Hogs, and art… and an alternative investment ranking – this was going to be interesting.
Except the ranking is little more than the trailing 36 month returns – without mention of the volatility, drawdowns, or any other risk to the investments. And the so called “Alternatives” in the article seems to be an odd mish mash of returns for whole investment categories like Private Equity with its 100s of Billions of Dollars invested alongside the returns for single stamps from 1867 which go for around $400.
A Big List of Alternative Investment Folks on Twitter
Here’s our compilation of people and firms currently out there on twitter providing the latest insight, humor, debate, and news on investments – especially the alternative kind:
Mama Said Knock You Out
Well, we bet Emil Van Essen, the quirky (in a good way) Canadian who runs the self named Emil Van Essen managed futures shop here in Chicago, may have been humming that first line (if not the entire song) throughout the month of July. You see, Van Essen managed to post returns of 6.39% in July, his best month since May of 2011, a year the program returned 33%. Since that blowout year, it has been more of a struggle for Emil and his team, however; with losses of about -10.23% in 2012, -6.31% in 2013, and a weak first quarter of this year, down about -4.5%. {past performance is not necessarily indicative of future results}.
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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