Category: Global Macro

14 Sep 2021

What is Return Stacking?

A new paper by Rodrigo Gordillo and Adam Butler of Resolve Asset Management and Corey Hoffstein of Newfound Research is out this week, purporting to add a new term to the investing lexicon – “Return Stacking.”   What? What is return stacking, and what are stacked returns? Well, you can download the full paper here […]

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08 Sep 2021
Markets, RCM Alternatives, Asset Class

Asset Class Scoreboard: August 2021

Welcome to the dog days of summer… unless you’re U.S. equity markets, which again posted a new all-time high. That’s seven months in a row of relatively straight-up action for equities. When will it end and How will it end? are the questions on everyone’s mind. Elsewhere, Commodities took a little hiatus, along with bonds […]

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03 Aug 2021
Markets, RCM Alternatives, Asset Class

Asset Class Scoreboard: July 2021

More of the same for the asset class scoreboard in July, as US real estate, US stocks, and Commodities all led the way – further cementing their double digit returns for the year (and adding quite a bit to the inflation narrative making the rounds.  The biggest surprise, perhaps, was bonds putting in a strong […]

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11 Jun 2021
Markets, RCM Alternatives, Asset Class

Asset Class Scoreboard: May 2021

Not much to report on with the old asset class scoreboard if you like change. All of the asset classes we track put up positive returns in May, for the 2nd straight month, meaning it was more of the same in terms of the year – with all the risk on assets: commodities, real estate, […]

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28 Apr 2021

Where are the Lumber Trend Followers?

  But one well worn internet trope we haven’t seen tied to the rise in lumber prices is the inevitable blaming of CTAs, aka managed futures, aka trend followers for the move. That game usually starts out with JP Morgan’s Marko Kolanovic or one of the Nomura quants putting out some statistics on where he […]

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14 Apr 2021
Markets, RCM Alternatives, Asset Class

Asset Class Scoreboard: March 2021

Commodities have been the biggest topic so far this year, but we saw a small dip in performance in March due to the (unforeseen) bullish report released by USDA. Commodities are expected to pick back up in the following months, and overall are still performing high with positive double-digit returns for the year. In other […]

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