Did he just say that Diversification was broken?
We’ve been starting to see more and more of this lately…. People eschewing diversification for the big returns from being fully invested in the stock market. Columnist John Authers joins the list with an article, stating “Diversification looks bad when it turns out you don’t need it.” That’s a harmless enough statement in and of itself. A lifejacket looks silly when you don’t need it. But Authers calls out the post child of diversification, the Yale Endowment, and we think otherwise.
Our Thoughts are with the People of the Philippines
Days after Typhoon Haiyan ripped through the Philippines, reports are coming in that as many as 10,000 people did not survive the storm. Our thoughts are with those in the Philippines – here are our old posts regarding Sandy impacts:
Weekend Reads
The end of the week dominated the news cycle, with Twitter officially going public yesterday and the jobs report today. Meanwhile the possibly largest Typhoon (Hurricane) in history is currently slamming the Philippines and we hope the destruction is minimal. It also leaves us futures folk to wonder how or if it will affect the various amounts of commodity crops grown there.
What if you had invested $1,000 in these (other) IPO’s
The finance world was abuzz today about Twitter’s much ballyhooed IPO, which quickly rose $45, good for 73% over the listing price. It looked all too easy, and one of the bloggers over at Stocktwits dug up a chart showing the major success of all the tech IPO’s… They chose Amazon, Ebay, and Yahoo. But what about the Tech IPO busts? Turns out investing in tech IPOs is no sure fire bet…
Chart of the Week: Cocoa Craziness
With Halloween just a week ago, and cocoa futures having sold off some since mid October after an impressive run — we can’t help make it the focus of our chart of the week. YTD, it’s made the largest gain, outside of stock index futures. Was it complete candy bar madness for Halloween? Are Chocolate lovers everywhere crowding the doors of every chocolate store, running to the shelves to get as much as chocolate as possible for the holiday season like the people rushing into Target the day after Thanksgiving?
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.
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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.
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