Off Topic

  • Europe Spurning the Short Sale

    Back in August, we shook our heads as European leaders put a ban on shorting European stocks– and the whole…

  • In Defense of the Financial Blogosphere

    Making its way around the blogosphere this morning is a moderately entertaining and possibly horrifying video of SocGen’s Todd Martin’s…

  • Weekend Reads

    It’s Friday, which means it’s time for our weekend reads to go out. Before we get to the good stuff,…

  • A Higher Standard

    We were really confused when we walked into the office this morning to a slew of emails asking us to…

  • Behind Enemy Lines?

    It’s hard to work in finance and ignore the Occupy movements. In Chicago, the participants march past our offices on…

  • Weekend Reads

    It’s Friday, but we’re beginning to feel like a broken record on these Weekend Read posts. The same problems are…

  • Weekend Reads

    Europe looks like they might be working toward a solution, but most are skeptical of its staying power. Stocks were up…

  • ETFs v. Cash and Futures YTD

    The past month has served as a prime example of why to invest in futures contracts instead of ETFs. We…

  • The “Winner” is… Soybeans?

    We’ve been watching stock indices, energies, and metals for a clue as to whether the lows made on Friday and…

  • Unsurprising 10 Sigma Surprises

    Great data graphic out from Reuters yesterday showing the historical 4 statistical moments (mean, standard deviation, skew, and kurtosis) of…

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DISCLAIMER INFO

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 Hedge Funds, 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. 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.


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.

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