Active management is often criticized for failing to meet the benchmark set by passively-managed funds in the world of mutual funds. But do those same criticisms apply to active management in managed futures, too?
Category: Macro Commentary
12
Jun
2012
Tell Us What You Think
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08
Jun
2012
The Euro Crisis: Austin Powers on a Steamroller
We’ve heard from some corners people calling last month’s selloff and the potential Greek exit from the Euro (or dissolution of the Euro) as a black swan-type event. But can anyone really say these events are unexpected anymore? A better analogy may be the slowly-moving steamroller from the Austin Powers film…
07
Jun
2012
Market Dynamics and CTA Performance May 2012 Update
Trading in futures markets that are non-correlated can help reduce risk and volatility. Unfortunately, when the markets move up or down in unison, achieving diversification is much more difficult, and that’s why we’ve started keeping an eye on two statistics that illustrate how easy or difficult it has been to stay diversified in the futures markets: the risk on/risk off trade, and the market correlations.
06
Jun
2012
Damning Evidence in the MF Global Case
While we were busy writing our newsletter Monday and keeping tabs on whether the markets would keep May’s performance going, the Trustee for the MF Global case released his 275 page “Investigation Report.” You can download it here.
It’s obviously a long read, though the meatiest part of the report starts on page 68, if you’re up for it. That being said, in our opinion, this report is pretty damning- almost breathtakingly so. From Corzine to O’Brien to JP Morgan to under mentioned actors like BNY Mellon, this catastrophe was not a whirlwind crisis that caught everyone off guard. Those in the know saw it coming for miles, but absolutely no one did anything to stop it.
The story that has emerged, while well known to those close to the situation, bears repeating. Let’s break down this behemoth of a document.
04
Jun
2012
Asset Class Scoreboard- May 2012
After a rough start to the year, May finally brought market conditions more favorable to managed futures. After a month that was hard on just about everything not named “bonds,” we’re looking at a decidedly different asset class scoreboard.
30
May
2012
iGlobal Commodities Panel Disappoints
So far the iGlobal Alternative Investment Summit has been great, but the panelists for the talk on commodity exposure left us sorely disappointed, and more than a little frustrated with the quality of the information.
30
May
2012
iGlobal Panels- Hedge Funds, Managed Futures, and Regulatory Reform
Panels have continued this afternoon at the iGlobal Alternative Investment Summit, with some great perspectives shared on hedge fund strategies, pension funds looking at managed futures, and the chances for change to the regulatory landscape.
30
May
2012
iGlobal Talk on Hedge Funds and JOBS Act
Our coverage of the iGlobal Alternative Investment Summit continues with a talk on the JOBS Act and hedge funds. As the industry sorts out the impact the new law will bring, perspectives on the legislation continue to evolve.
30
May
2012
First Impressions from the iGlobal Alternative Investment Summit
Seems like we just finished our big conference flurry, but we’re at it again, attending the third annual iGlobal Alternative Investment Summit in New York. The conference has just started, but we’re already finding intriguing ideas from the speakers we’ve seen so far.
