There’s been a lot of commentary on what’s contributing to this market, largely focused on investor sentiment and macro headlines. Recent due diligence conversations with several CTAs got us thinking, though – maybe we should be thinking less about the “what” and more about the “who.”
Category: Macro Commentary
08
Aug
2012
Individually Segregated Accounts the Magic Bullet?
The PFGBest mess has forced a debate from the MFGlobal days to resurface – what, exactly, is a segregated account, and what should it look like? While moving to individually segregated accounts may hold promise, there are plenty of concerns that would need to be addressed first.
07
Aug
2012
PFGBest Update: What is JPMorgan Hiding?
JPMorgan has been very quiet about its role in the PFGBest fallout… and now they’re trying to block the trustee’s ability to subpoena their PFG-related financial information. Is there something JPMorgan wants to keep a secret?
06
Aug
2012
Liquidity Lowdown- Managed Futures via Managed Accounts v. Managed Futures ETFs
Actively managed ETFs are becoming more common, including recent forays into the managed futures space. However, for those who are concerned about liquidity, and seeking out exposure to alternatives, the mad dash to ETFs may be ill-advised.
03
Aug
2012
Olympic-sized Debt
With the Olympics in full swing, the folks over at Bond Vigilantes are keeping the conversation focused on the global economy – using the Olympics to put various country’s debt burdens into perspective. The results definitely don’t make us feel like cheering.
02
Aug
2012
Asset Class Scoreboard- July Update
The Asset Class Scoreboard has been updated following a July that proved to be a good one for every asset class we track. In particular, we were definitely glad to see that June’s disappointing numbers for managed futures did not last into July.
02
Aug
2012
Chick Flicks and Tough Love for Investors
He’s Just Not That Into You is probably one of the few chick flicks made in recent years that’s worth watching, if you ask the folks around our office. But this post isn’t about the performances, screenplay or dating advice found within its film reel. No, as it turns out, the movie has a message for […]
01
Aug
2012
PFGBest Update: 16 Questions for the NFA’s Dan Roth
We had high hopes for today’s Senate hearing on the PFGBest debacle, but most of our questions about the failure of the NFA were not answered (or even asked). So, here are the questions we’d like NFA head Dan Roth to answer.
01
Aug
2012
PFGBest Update: Beyond Belief
Evidence of the NFA’s incompetence in the PFGBest case continues to mount. Why didn’t the 2011 email that revealed PFG’s shortfall lead to any action? Because of a fax from a number that should have led them right back to Wasendorf. There are just no words that can adequately respond to this.
30
Jul
2012
PFGBest Update: Time to Turn Up the Heat
While the industry has rallied in the wake of the PFGBest scandal, calling for a wide breadth of reforms, a more pressing matter must be addressed today. The customer segregated funds held by PFGBest at Jefferies, and confirmed as valid and on deposit by Jefferies, must be released to the firm’s former clients.
