Macro and Managed Futures Funds
Three Sources of Alpha: A Call for Small Manager Investment
Oct 13th, 2020 | Filed under: CAPM / Alpha Theory, Hedge Fund Strategies, CTA, Investing in Commodities, Equity Hedge Funds, Newly Added, Seeding/early-stage, Macro and Managed Futures Funds, Hedge Funds, Commodities, Finance & EconomicsBy Karl Rogers, ACE Capital Investments I recently finished a multi-strategy fund of hedge funds build for an institution where I focused on three sources of alpha: small manager, equities and commodities. Small Manager Alpha Given that “small” managers have been found to outperform their larger peers[1], why do manyRead More
Peeling Back the Wrapper of Hedge Fund Strategies
Apr 13th, 2020 | Filed under: CAPM / Alpha Theory, Hedge Fund Strategies, Alpha & Beta, Equity Hedge Funds, Newly Added, Institutional Investing, Alpha Strategies, Event-Driven Hedge Funds, CAIA Alternative Viewpoints, Liquid Alts, Institutional Asset Management, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Liquid Alternative Investiments, Allocating to A.I., Other Topics in A.I.
By Aaron Filbeck, CAIA, CFA, CIPM, Associate Director, Content Development at CAIA Association During CAIA Association’s most recent Virtual Chapter event, Keith and I (virtually) sat down with Chris Tidmore, CFA, CPA at The Vanguard Group to discuss Vanguard’s recent whitepaper, “The Wrapper Matters: Comparing Liquid Alternatives to Hedge Funds”Read More
False Positives and Machine Learning
Jan 23rd, 2020 | Filed under: CTA, Newly Added, Alternative data, Fintech, Risk management, Technology, Artificial Intelligence, Alternative Investments in Context, The A.I. Industry, Risk Management Strategies & Processes, Machine Learning, Hedge Funds, Other Topics in A.I.There is a high rate of failure among quant funds. These include smart beta, factor investing, statistical arbitrage, and CTAs. Such false positive strategies are a widespread industry problem. Since psychiatrists have long traded on the ability of the human mind to find an elaborate narrative in a random inkRead More
Commodities:Waiting for a Paradigm Shift
Dec 25th, 2019 | Filed under: Commodities, CTA, Investing in Commodities, Newly Added, The Global Economy & Currencies, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Commodities, Finance & EconomicsRay Dalio, in reference to the current financial scene, with its long period of expansion over more than a decade has said, “This set of circumstances is unsustainable and certainly can no longer be pushed…[which] is why I believe that the world is approaching a big paradigm shift.” Dalio hasRead More
Hedge Fund Flows Fall Flat in October
Nov 24th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Industry Size & Managers, Equity Hedge Funds, Newly Added, Asset Managers, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge FundsThe Eurekahedge Hedge Fund Index was up 0.31% in October. However, it doesn’t measure up to the market next to the MSCI ACWI (Local), which ended October up 1.93%. Eurekahedge’s latest monthly report observes that US-China trade talks resumed, and this led to a certain tentative optimism. Since those areRead More
Machine Learning: Beyond the Fear of Unknown Unknowns
Nov 17th, 2019 | Filed under: Algorithmic and high-frequency trading, Equity Hedge Funds, Newly Added, Alpha Strategies, Event-Driven Hedge Funds, Technology, Artificial Intelligence, Business News, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Other Topics in A.I.Machine learning as a way of managing a portfolio is a “wave of the future” with a lot of sea to cover before it breaks on the shore. Meson Capital Partners has sent its investors an update and summary for 2019 Q3 regarding its managed market neutral fund, and thisRead More
Blenheim Closes, Ushering in a New Era in Commodities
Oct 31st, 2019 | Filed under: Hedge Fund Strategies, CTA, Investing in Commodities, Newly Added, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, CommoditiesWillem Kooyker is folding up his tent at Blenheim Capital, the commodities-focused hedge fund headquartered in an office park in Berkeley Heights, N.J. Kooyker is a legend. In 1981, he went to work at Commodities Corp., Princeton, N.J., where he was a peer of Paul Tudor Jones, Louis Bacon, andRead More
Global Hedge Fund Assets Shrink
Oct 20th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds IndustryAccording to the latest report from Eurekahedge, the world’s hedge funds recorded a net growth of $3.4 billion due to performance in September 2019. On the other hand, September also saw large net outflows of $6.2 billion. Assets at the end of the month were down 0.12%. Looking at fundsRead More
Eurekahedge: The Return of Alpha
Sep 29th, 2019 | Filed under: Hedge Fund Strategies, CTA, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Commodities, Structure of the Hedge Funds IndustryThe Eurekahedge Hedge Fund Index was up in August, 0.17%, easily outperforming the global equity market, as measured by MSCI ACWI, which was down 2.37%. The August number brings the Eurekahedge HFI’s year-to-date result to 6.58%. Approximately 32.6% of the funds Eurekahedge tracks are in double-digits (positive) territory for theRead More
Negative Interest Rates: A Reason to Invest in Hedge Funds?
Sep 9th, 2019 | Filed under: Hedge Fund Strategies, CTA, Equity Hedge Funds, Newly Added, Alpha Strategies, Event-Driven Hedge Funds, Liquid Alts, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Liquid Alternative Investiments, Allocating to A.I.Negative interest rate policy—that is, central bank arrangements that seek to inspire spending by punishing savings, not merely in real but in nominal terms—have spread in recent years among the developed economies, and are now in use in Japan, Switzerland, Sweden, and the Eurozone. Denmark got the ball rolling inRead More
PORTFOLIO PROTECTION VIA MANAGED FUTURES LIQUID ALTS?
Sep 8th, 2019 | Filed under: Commodities, Hedge Fund Strategies, CTA, Investing in Commodities, Newly Added, Alternative Mutual Funds, Liquid Alts, ETFs, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Liquid Alternative Investiments, Commodities, Allocating to A.I., Other Topics in A.I.By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION The mafia and the hedge fund industry share some characteristics. Both are powerful, non-transparent, and create little value for society. Naturally the mafia is a criminal organization while the only “criminal” element of hedge funds are the high fees they are charging forRead More
Hedge Fund Performance Gains: Investor Flow Losses
Aug 25th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds IndustryGlobal hedge fund assets under management have stayed close to flat for months now. That’s one of the points made in the latest Eurekahedge report. As of July, the AUM is just a little under $2.3 trillion, or roughly where it has been since late last year. Although there haveRead More
Hedge Fund Performance and Fees: Who is Earning Their Keep?
Jul 30th, 2019 | Filed under: Hedge Fund Industry Trends, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Fees, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds IndustryThe Eurekahedge Hedge Fund Index was up in June, wrapping up a very strong first half of the year for the hedge fund industry. The monthly increase of 1.83% reverses the down month of May, which in turn was a reversal of the strength of the first four months, withRead More
Hedge Fund Index Backslides in May; Remains in Positive Territory
Jun 25th, 2019 | Filed under: Hedge Fund Industry Trends, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, Funds of Hedge Funds, The A.I. Industry, Hedge Funds, Relative Value Hedge Funds, CommoditiesRed ink spoiled an otherwise positive 2019 for he Eurekahedge Hedge Fund Index. The decline of 0.71% leaves the year-to-date performance still well up, at +4.32%. Approximately 41.6% of the funds Eurekahedge tracks were in the black for the month. And 15% have generated double-digit gains year-to-date. North America-mandated hedgeRead More
A HORSE RACE OF LIQUID ALTERNATIVES
Jun 13th, 2019 | Filed under: Hedge Fund Strategies, CTA, Investing in Commodities, Equity Hedge Funds, Newly Added, Liquid Alts, ETFs, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Liquid Alternative Investiments, Commodities, Other Topics in A.I.By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION Investing is challenging as it is complex and complicated, which requires continuous learning and updating of mental frameworks. Conflicts and contradictions are found everywhere. For example, data from the mutual fund industry shows that most funds fail to outperform their benchmarks, but investors inRead More
HEDGE FUND ETFS: BETTER THAN THE ORIGINALS
May 12th, 2019 | Filed under: Hedge Fund Industry Trends, Retail Investing, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, Alternative Investments in Context, ETFs, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Allocating to A.I.By Nicolas Rabener of FactorResearch (@FactorResearch) INTRODUCTION As Amazon has been decimating large parts of the retail industry over the last two decades, ETFs have done the equivalent to the mutual fund industry in the financial world. Today ETFs are covering nearly all areas of the markets, no matter howRead More
Hedge Funds: The Strongest Quarterly Return Since the GFC
May 2nd, 2019 | Filed under: Hedge Fund Industry Trends, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsMarch was a good month and the first quarter of 2019 was promising, according to the April report from Eurekahedge. The Eureka Hedge Fund Index gained 1.06% in March. This yields a first quarter return of 4.36%. As the report says, this is the strongest quarterly return since the globalRead More
Hedge Funds: Deep-Diving Into the 2018 Numbers
Apr 18th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Structure of the Hedge Funds IndustryMartin McCubbin, a senior research analyst at Fidante, looks at the hedge fund performance numbers for 2018 in a new paper, which shows it was a difficult year. Early going in 2019 has been somewhat better, but that the “better” cannot be relied upon. The rest of this year couldRead More
Pension Funds Not Quite Swamped by ‘Grey Tsunami’
Mar 5th, 2019 | Filed under: Real Estate, Private Equity, Hedge Fund Strategies, Infrastructure, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Institutional Investing, Asset allocation, Event-Driven Hedge Funds, Equity Types of Private Equity, Natural Resources and Land, Asset Allocation Models, Operationally Intensive Real Assets, The A.I. Industry, Institutional Asset Management, Macro and Managed Futures Funds, Real Estate Equity Investments, Hedge Funds, Commodities, Private Investments, Real Assets, Allocating to A.I.A recent study of public employee retirement systems in the United States reaches conclusions, that, after a fair amount of “grey tsunami” alarmism in recent years, sound reassuring. The study, based on a recent survey of system managements conducted by the National Conference of Public Employee Retirement Systems (NCPERS) inRead More
Hedge Funds Stronger in January, Thanks to The Fed
Mar 3rd, 2019 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Event-Driven Hedge Funds, Funds of Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsRisk-on sentiment returned in January, with good news on trade talks and with the Federal Reserve in the United States putting some distance between itself and its 2018 hard-money stance (the Fed started saying in January that it would be “patient” about selling off-balance sheet assets). Globally, hedge funds grewRead More
Eurekahedge: A Rough Time for the European Mandate Funds
Dec 25th, 2018 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsEuropean hedge fund managers continue to suffer from the uncertainties of the United Kingdom’s impending exit from the EU. The latest report from Eurekahedge says that European hedge funds have posted losses in eight of the first eleven months of 2018. They haven’t been in the positive numbers since July,Read More
Distressed Debt: What Happens When the Tree Stops Growing?
Dec 9th, 2018 | Filed under: Hedge Fund Strategies, Newly Added, Event-Driven Hedge Funds, The Global Economy & Currencies, Economics, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Finance & EconomicsDistressed debt markets have four themes emerging, according to a new paper issued by the Wells Fargo Investment Institute They are: the consequences of central bank tightenings around the globe; the elevation of debt levels, also something happening globally; the regulatory pressure over non-conforming loans (especially in Europe); and theRead More
Eurekahedge: Hedge Funds Failing to Perform in 2018
Nov 25th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Allocating to A.I.The newest Eurekahedge report says that hedge funds globally are experiencing their worst year since 2008. They are down -2.15% for 2018 to date and in the first 10 months of 2008 they were down a full 9.55%. Other Year-to-Date Numbers Only a minority (roughly 47%) of hedge fund managersRead More
Hedge Funds in the Slow-down Phase
Oct 9th, 2018 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsFidante Partners, part of the Challenger Limited Group, has issued a white paper on the performance of hedge funds of various strategies in the slowdown and recession phases of a business cycle. The report, written by Joachim Klement, Fidente’s head of investment research, posits that the world is now inRead More
Eurekahedge: Hedge Funds Trailing Behind Last Year’s Performance
Aug 19th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsAccording to Eurekahedge, with the July numbers on hedge fund performance now available, 8.5% of hedge fund managers have posted double-digit gains in 2018 to date. Most of that gain is focused on those with a long/short equities mandate. That number is quite low. Eurekahedge contrasts it with the firstRead More
Volatility Arbitrage and Cross-Border Options
Jul 29th, 2018 | Filed under: Hedge Fund Strategies, Investing in Commodities, Newly Added, Alpha Strategies, Risk management, Macro and Managed Futures Funds, Risk Management Strategies & Processes, Hedge Funds, Commodities, Risk Management & OperationsA new paper, by Adriano Tosi, of the University of Zurich, Switzerland, looks at the mispricing of a cross-section of international option returns, which suggests that there is money to be made (in more decorous language a “positive risk premium” may be “commanded,”) by selling exchange-traded products and buying theRead More
BarclayHedge Numbers Show Cryptocurrency Dive
Jul 19th, 2018 | Filed under: Currencies, CTA, Newly Added, The Global Economy & Currencies, Digital currencies, The A.I. Industry, Macro and Managed Futures Funds, Commodities, Emerging Alternative Investments, Other Topics in A.I.BarclayHedge says that its flash estimate for the Barclay CTA Index shows a 0.05% loss in June, and a 2% loss year to date. More remarkably, the flash estimate shows a 16.23% drop in June and a 45.43% drop YTD for the CryptoCurrency Traders Index. The founder and president ofRead More
Eurekahedge: 2018 YTD Growth Positive but Unimpressive
Jun 24th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsThe newest Eurekahedge report says that total hedge fund assets have grown by $26.4 billion in the year to date (through May). The gain is the result of inflow, not of positive performance. Assets flowing in to the industry’s coffers YTD equal $30 billion, and one gets the net growthRead More
What CTAs Think about Bitcoin Futures
Jan 25th, 2018 | Filed under: Currencies, CTA, Newly Added, The Global Economy & Currencies, Digital currencies, Macro and Managed Futures Funds, Commodities, Emerging Alternative Investments, Finance & Economics, Other Topics in A.I.A new BarclayHedge study indicates that the majority of commodity trading advisers surveyed are unenthusiastic about the new Bitcoin futures. Specifically, asked “do you consider Bitcoin futures to be a valuable/useful addition to a diversified futures portfolio?” nearly three quarters (73%) said “no.” The sample for this survey included firmsRead More
Global Macro: Valuable for Institutional Portfolios
Jan 7th, 2018 | Filed under: Hedge Fund Strategies, Newly Added, Institutional Investing, Asset allocation, Asset Allocation Models, Institutional Asset Management, Macro and Managed Futures Funds, Hedge Funds, Allocating to A.I.The Mekata Investment Group has published a white paper on global macro hedge funds, contending that a position in such a fund is a valuable defensive tool for an institution. Global Macros are valuable because they perform best during turbulent or volatile markets, which is when defense is most needed,Read More
AIMA and SGPS on Managed Futures and CTAs
Sep 28th, 2017 | Filed under: Algorithmic and high-frequency trading, CTA, Investing in Commodities, Newly Added, Business News, The A.I. Industry, Institutional Asset Management, Macro and Managed Futures Funds, Commodities, Allocating to A.I.The Alternative Investment Management Association and Societe Generale Prime Services have together put out a white paper about managed futures funds and the commodity trading advisers who manage them. A key themes of the paper is that managed futures strategies aren’t as risky as are typical investments in equity markets.Read More
Below the Black: A Review of Risk Reduction Strategies
Sep 13th, 2017 | Filed under: Commodities, Hedge Fund Strategies, Investing in Commodities, Newly Added, Risk management, Risk Metrics and Measurement, Macro and Managed Futures Funds, Risk Management Strategies & Processes, Hedge Funds, Commodities, Risk Management & OperationsExcerpted from the Alternative Investment Analyst Review, Volume 1, Issue 4 The Alternative Investment Analyst Review is the official publication of the CAIA Association. Access to the most current issue is an exclusive benefit of CAIA Membership while archived issues are available to the public in the Perspectives section atRead More
Eurekahedge on Outflows, Performance and Tail Risk
Sep 27th, 2016 | Filed under: CTA, Equity Hedge Funds, Newly Added, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, CommoditiesEurekahedge, a provider of hedge fund industry news since 2001, has released its report about the state of the industry in August 2016. Among the key points: August was the fourth consecutive month of outflows. Although preliminary, the data for the month suggests a net asset outflow of $7.5 billion.Read More
Risk-Adjusted Time Series Momentum Strategies
Aug 21st, 2016 | Filed under: Financial Economics Theory, Newly Added, Macro and Managed Futures Funds, Hedge Funds, Finance & EconomicsThe name is awkwardly long, and the standard abbreviation, “RAMOM,” sounds like what one says when cheering on one’s mother as she nears a finish line. Still, risk adjusted time series momentum strategies have something to be said for them, in comparison to cross-sectional momentum (MOM without preface), or evenRead More
Eurekahedge: Performance Down, Inflows Up in 1st Half 2016
Jul 28th, 2016 | Filed under: Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The Global Economy & Currencies, Macro and Managed Futures Funds, Hedge Funds, Finance & EconomicsThe latest report from Eurekahedge indicates that hedge funds’ assets under management are up by $19.9 billion in the first half of 2016 worldwide. Eurekahedge, which tracks the health of the hedge fund industry month by month, also says that total industry performance-based results were down, $5.2 billion, so moreRead More
Eurekahedge: From Latin America to Middle Earth
Mar 20th, 2016 | Filed under: Performance, Analytics & Metrics, CTA, Newly Added, Macro and Managed Futures Funds, Hedge Funds, Allocating to A.I.The latest report from Eurekahedge tells us that hedge funds worldwide are down year-to-date through February, -1.27 percent. Dividing the industry by geographic mandates, Latin America is the only region to post YTD gains, +1.9% due to a rally in oil and commodities. Table 1, adapted from the report below,Read More
When an allocator calls: Best Practices for a CTA’s back office
Mar 9th, 2016 | Filed under: CTA, Investing in Commodities, Newly Added, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, CommoditiesBy Dana Comolli, president, DMAXX LLC Every trader who has tried to raise money knows the drill from investors: yes we want to know about your performance, but also, explain in detail your back office (infrastructure, organization). Most allocators come with pages of checklists and expect the manager to beRead More
Carry Strategies: Beyond Foreign Exchange
Feb 21st, 2016 | Filed under: Currencies, CTA, Newly Added, Forex, The Global Economy & Currencies, Macro and Managed Futures Funds, Hedge Funds, CommoditiesInternational investors borrow money in countries where interest rates are relatively low, and then lend it out in countries where the rates are higher. All they do is “carry” the money, so to speak, from one country to the other.Read More
Eurekahedge: Performance after the ECB Underwhelms
Jan 28th, 2016 | Filed under: Performance, Analytics & Metrics, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Macro and Managed Futures Funds, Hedge FundsThe latest Eurekahedge report says that regional mandates for the month of December 2015 produced quite mixed results. Asia ex-Japan managers yielded the best results, gains of 1.45%. Their Japanese counterparts produced 0.27%. In annual terms, Asia ex-Japan funds delivered 8.23% in 2015. Such funds saw an annual AUM growthRead More
Eurekahedge: The Markets are Reading the Headlines
Aug 18th, 2015 | Filed under: Commodities, Hedge Fund Strategies, Currencies, CTA, Alpha Strategies, Alpha SeekersIn the three month period that ends with July, Eurekahedge’s Greater China Index (which has 85 constituents) is down 9.39%. That has come about for precisely the reasons that a reader of the pertinent headlines would guess. Read More
More Global Mandates, Fewer EM Mandates, and Other Changes
Mar 23rd, 2015 | Filed under: Performance, Analytics & Metrics, CTA, Institutional Investing, Risk managementEurekahedge's latest report gives a number of timelines for grappling with changes in the hedge fund world: since 2007; since January 2013; YTD January 2015. In any frame, you don't have to be a meteorologist....Read More
After You Go as Low as You Can Go
Jul 2nd, 2013 | Filed under: Commodities, CTAWelton has modeled an investment approach, specifically a multi-asset class trend following approach, and has measured how it would have performed if back-fitted into certain periods of sustained and sharp interest rate increases in the decades since the death of Bretton Woods. Read More
Rice Elucidates Views on Managed Futures, Retail Investors
Jun 24th, 2013 | Filed under: Hedge Fund Industry Trends, Commodities, CTATo encourage further exchange and understanding, I went back to Mr. Rice, after reading a comment from our reader, and asked him to expand on managed funds and their noncorrelation with traditional (largely equity) investment strategies. Tags, Agriculture, Commodities, Derivatives Read More
The Wind and the Leaves: Causality in Commodity Prices
Jun 5th, 2013 | Filed under: Hedge Fund Industry Trends, Commodities, CTA, DerivativesThree scholars find a very real possibility that there is a cause and effect relationship between index flows in the derivatives markets, at least the agricultural index markets, on the one hand and price moves in the underlying commodity on the other. Read More
A Plea to the Retail Investors
Jun 2nd, 2013 | Filed under: Retail Investing, Commodities, Hedge Fund Strategies, CTA, Alpha StrategiesThis book, The Alternative Answer: The Nontraditional Investments that Drive the World's Best-Performing Portfolios is an appeal to the retail investor, to those author Bob Rice calls "typical investors," passing along the good news that they are no longer "stuck with the children's menu of investment options."Read More
NG Futures Traders: Who’s Your Regulator?
Mar 24th, 2013 | Filed under: Commodities, CTA, Regulatory, EnergyAs a three-judge panel of the D.C. Appeals Court saw it, there were two questions in the Brian Hunter case. First, did the CEA’s language encompass manipulation of NG futures contracts as part of the exclusive jurisdiction of intervener CFTC? Second, if so, was that repealed or modified by the 2005 legislation? Read More
Survey: MF Global and Peregrine Have Left a Lasting Mark
Mar 20th, 2013 | Filed under: Commodities, CTANinety-one percent of the respondents to a recent survey strongly believed there was a breakdown in audit procedures in the futures world. The comments section for that question displayed what the survey sponsor, Horizon Cash Management, calls “widespread frustration and anger.” Read More
A Look at the Dubai Mercantile Exchange with Christopher Fix
Nov 27th, 2012 | Filed under: Commodities, CTAAn interview with Christoper Fix, the CEO of Dubai Mercantile Exchange - home of the largest physically delivered crude oil futures contract in the world.Read More
Citi: Systematic Component in CTAs Dominate over Discretionary Bits
Jul 24th, 2012 | Filed under: Commodities, Algorithmic and high-frequency trading, CTAThere has been a perhaps-unexpected consequence of the disappearance of the old-fashioned floor traders. Floor trading used to serve as a training regimen, "from which many of the industry's leading discretionary traders originated." Without the floors, the talent pool has dried up.Read More
Alpha Hunters: Looking at Alternative Investments From the Inside Out
Jun 7th, 2012 | Filed under: Hedge Fund Industry Trends, Real Estate, Private Equity, Hedge Fund Strategies, CTA, Derivatives, Institutional Investing, Alpha Hunters, Alpha Strategies, Venture capital, ForexA deeper look at alternatives with Dr. Bob Swarup, a world-renowned expert and commentator on alternatives and financial markets as well as being a visiting fellow at London School of Economics.Read More