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Wed, 18 Aug 2010
Founders Q&A: Agriculture specialist Brooks Brown discusses how agricultural markets work and explains his distinctive niche strategy Agriculture specialist Brooks Brown discusses how agricultural markets work and explains his distinctive niche strategy
Futures Lab: Learn about volatility forecasting and its uses from Laurence Wormald, head of research at SunGard APT.
Insider Talk:NuWave founder Troy Buckner sheds light on the recent experience in the grains market by using behavioral finance.
Manager profile:Auctos Capital manager Kevin Jamali on putting together a skill set, including a research team to develop diverse models.
Regulators:Convergence in wheat futures and cash market.
Top Ten: Agricultural and other non-financial CTAs.
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Tue, 27 Jul 2010
Founders Q&A: Commodity expert George Zivic allocates to niche managers, but he also trades. Read about where he sees opportunity in commodity markets.
Futures Lab: Same net exposure, same risk? No, says Jon Sundt. See his example of a quant fund, based on the "perfect storm" of August 2007
Insider Talk: Gabriel Pellegrini offers a global view from Brazil.
Index Tracker Macro managers did well in the first half of the year and attracted the most new assets.
Practitioner View: Craig Kendall argues that the risks of option selling are manageable.
Manager profile: Alex Khalil explains the mindset that underlies his options trading strategy.
Top Ten: Twelve-month winners from Managed Account Research Inc. include several option selling programs.
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Thu, 24 Jun 2010
Founders Q&A: Physicist Francisco Vaca discusses two very different quantitative strategies, one of them high-frequency, rooted in the same skill set.
Futures Lab: Study from MF Global debunks common myths.
Insider Talk: How will regulation affect CTAs? Jonathan Golub of law firm Tannenbaum Helpern Syracuse & Hirschtritt highlights relevant issues.
Regulators: What is going to happen in derivatives markets and how should you respond? A report from SunGard.
Manager profile: Award winner Ken Kinkopf explains his picky method for trading stock futures.
Top Ten: Best performing Newedge index constituents, ranked by Sortino ratio
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Thu, 27 May 2010
Founders Q&A: Learn about credit macro. An Asian pioneer discusses a novel strategy.

Futures Lab: Asian investors are coming back to alternatives. Two experienced observers offer insights to Asian markets.
Insider Talk: Chesapeake Capital had only two years of negative returns since its founding in 1988 by an original "turtle". What gives this firm its edge? The CFO and COO talk about the business.
Index Tracker: The past two months were good for managed futures. Here's a comparison.
Manager Profile: Building a new algorithmic system poses challenges. How one research team went about a two-year project.
Practitioner View: The president of NIBA sees introducing brokers developing new niches.
Top Ten These first-quarter winners include a China-based CTA.
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Tue, 13 Apr 2010
Founders Q&A: How does pattern recognition work? A pioneer, NuWave founder Troy Buckner, explains
Futures Lab: Why do markets trend? AQR study has insights as to the economic rationale.
Insider Talk: Yu-Dee Chang of ACE Investment Strategists on managing many CTAs in one and prospects for Chinese futures
Manager Profile Multi-billion-dollar quantitative shop AQR has a new managed futures fund. Take a look at it.
News Briefs: Man Group's AHL, Newedge, MF Global, EFX, CME, Eurex.
Top Ten: Global trend hedge funds from the Morningstar database.
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Fri, 19 Mar 2010
Founders Q&A: Paskewitz Asset Management's contrarian strategy is the opposite of trend following. How does it work? The top-ranking manager discusses this distinctive approach.
Futures Lab Spread trading: Learn what it is, how it is done and the risks and benefits.
Insider Talk: Up and coming young quants look to the future.
Practitioner Viewpoint Systematic trading gives you real diversification, argue Jason Russell and Nicholas Markos of Acorn Global Investments.
News Briefs New Cowen-Ramius managed futures and macro fund, Hollywood futures, Singapore Exchange, Newedge, CME, RTS, Oman Crude futures,, CFTC clamps down on FX schemes
Top Ten Best CTAs from a ranking based on 25 statistics.
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Thu, 25 Feb 2010
Founders Q&A: Learn about Rydex /SGI’s managed futures mutual fund. In little over two years, its assets have grown
Futures Lab: Will artificial intelligence revolutionize the world of quantitative trading? An expert discusses automated text sentiment analysis and what may be coming.
Insider Talk: What do managers, investors and brokers see happening in quant strategies and investing? A lineup of insights.
Manager profile: Up-and-coming Qbasis, started by Austrians Florian Wagner and Philipp Pölzl, uses swing-reversal in addition to trend following. How does the strategy work?
News Briefs CME, Man Group, Guggenheim, January performance, Eurofin, Nautical, Lighthouse Financial
Top: Ten Find out which diversified traders had the best returns for the past three years
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Thu, 04 Feb 2010
Founders Q&A: Lessons from the dramatic rise, fall and revival of Bayswater, a global macro fund originally seeded by Man Group.
Futures Lab Implications of recent experience for quant strategies
Insider Talk Looking to get institutional allocations? A former pension executive discusses the issues surrounding futures investing.
Index Tracker Review of 2009 and what’s to come.
News Briefs: FX trader ordered to surrender submarine, Barclays Capital in Brazil, FTC’s new fund, Dubai, Newedge, and more.
Practitioner Viewpoint: “The trend is your friend” strategies are asset protectors, argues Thomas Holmes of Genesis Futures.
Top Ten: Alpha Titans
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Thu, 07 Jan 2010
Founders Q&A: Market-neutral arbitrage with a CTA: Alexei Chekhlov and Peter Kambolin of Systematic Alpha explain how it works.
Futures Lab: Physicists and mathematicians are a growing presence in markets. Dr. Chekhlov demystifies the link between science and trading.
Insider Talk: Jon Sundt of Altegris, an experienced allocator, talks about the prospects for hedge fund strategies in 2010.
Regulators: What does the “Wall Street Reform” Act of 2009 mean for futures traders?
Manager profile: Jan de Wever of WholeCapital describes his distinctive trend-following approach.
Top Ten: An asset-based ranking from the Altegris 40 Index.
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Wed, 02 Dec 2009
Founders Q&A: What are the opportunities for global macro investing in the current highly uncertain environment? Third Wave’s investment chief uses a combination of quantitative and non-quant tools to identify attractive trades.
Futures Lab: How do you protect your algorithms? Intellectual property lawyer Alexandre Montagu explains.
Insider Talk: Rishi Narang, founder of Telesis Capital and author of Inside The Black Box, makes the case for short-term quantitative trading.
News Briefs: Managed futures vs. macro returns, Abbey, Altegris, Dubai oil futures and more.
Manager profile: Quantum Forecasting takes a systematic approach but differs from most CTAs
Practitioner Viewpoint: Trading trends from Saratoga Futures and SunGard
Top Ten: Systematic vs. discretionary traders
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Tue, 03 Nov 2009
Founders Q&A: Campbell’s CEO looks at the development of the firm and the future of the industry
Futures Lab: How good is a background check? A veteran investigator discusses the key considerations.
Insider Talk: A managed account platform will offer a variety of liquid strategies. What does that mean for investors and managers?
Index Tracker: Recent performance and prospects for CTAs and global macro.
Practitioner Viewpoint: Alan Rohrbach on trend analysis and current challenges.
Top Ten: Best year-to-date performers
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Thu, 15 Oct 2009
Founding Father Q&A: Managed futures as part of a broader investment business: How does it work?
Futures Lab: Asset flows in the past 18 months offer an suggestive picture of investor behavior
Insider Talk: A CTA branches out to manage a public fund
Manager Profile: An array of new products from Man Group
Regulators & Courts: Futures vs. securities regulation: Can harmony be achieved?
Top Ten: Australian managed futures and macro funds
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Tue, 29 Sep 2009
Founding Father Q&A: Ken Steben of Steben & Co. describes a rigorous CTA screening process
Futures Lab: Comparing returns for long holding periods reveals an interesting difference
Insider Talk: Adam Rochlin of MF Global talks about the brokerage’s new investment platform for CTAs and global macro
Practitioner Viewpoint: Executives from Lyxor, Lighthouse Partners and other firms discussed managed accounts at an event. We bring you the highlights
News Briefs: Trend follower gains, CTA at SEC, high frequency trading, new quantitative index and more
Top Ten: A global macro lineup that includes Bridgewater
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Mon, 14 Sep 2009
Founding Father Q&A: Get an inside look at Millburn, a rare example of a futures-based investment management company with a track record that goes back more than three decades
Futures Lab: To build a diversified client base, understand investor characteristics.
Insider Talk: Insight from Abbey Capital regarding global macro strategies and liquidity.
Practitioner Viewpoint: Is there a seasonal pattern in managed futures returns? Here are the evidence and arguments.
News Briefs: Royal Bank of Scotland, Man Group, Barclays Capital, AlphaMetrix, MF Global, and more.
Top Ten: Best performing small CTAs for July.
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Tue, 11 Aug 2009
Founding Father Q&A - Investing in global macro and CTAs in the current environment: pros, cons and where the value is. Nick England from Channel Islands Alternatives offers pointers as to what's attractive for investors right now.
Futures Lab: New priorities in asset allocation and due diligence, from Welton Corp.
Insider Talk Understanding quantitative macro: the managers of Numbers discuss their hybrid system.
Index Tracker: Analysis of managed futures and global macro returns.
Manager Profile Lafayette Trading had a nice gain in H1 2009, while CTAs as whole are in the red. How did Lafayette do it?
Practitioner Viewpoint What’s going on with volatility? Quiet can alternate with wild swings, argues Alan Rohrbach.
Top Ten We have a surprise for you: the best global macro funds from a private bank’s database.
Download as PDF
Wed, 15 Jul 2009
Founding Father: Jon Sundt of Altegris has picked some of the most successful commodity trading advisors early in their careers and allocated around $4 billion over the years. Here he explains how he makes investment decisions
Futures Lab: There are huge differences among commodity trading advisors. What does this mean for investors?
Insider Talk: Daniel Masters, co-founder of Global Advisors and former head of energy trading at JP Morgan, discusses recent developments in commodity markets
Practitioner Viewpoint: Walker Todd, an attorney and economist who worked for many years in the Federal Reserve System, sees danger in agricultural commodities
News Briefs: Asset Flows, New Exchange, Changes at Brokerage and more
Regulators & Courts: Hearing on position limits: Implications for commodity markets
Top Ten: Highest-Return Programs for10 years
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Tue, 16 Jun 2009
Founding Father Q&A: Investor perspective: Ernest Jaffarian of Efficient Capital compares CTAs and hedge funds
Futures Lab: Innovative mainstream products: ETFs and mutual funds may open market to futures
Insider Talk: Arne Hassel of Millennium Global says the UCITS mutual fund format fits a macro strategy
Practitioner Viewpoint: Why UCITS III, the European "passport" fund framework, favors managed futures and macro
Regulators & Courts: Contract question, climate futures, fraud
Top Ten: An extraordinary lineup put together by a large investor
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Tue, 02 Jun 2009
Founding Father Q&A: Patrick Welton of Welton Investment Corp. listened to investors talk about managed futures in the early 2000s and in response to their concerns built a diversified program that contains global macro components. Dr. Welton discusses his approach.
Futures Lab: Read about investors’ new priorities in the post-crisis commodity markets. Commodity trading advisors stand to become the preferred way to invest but need better tools for risk control, argue the authors of a report from Celent.
Insider Talk: A line-up of industry people with derivatives experience talk about trends in options and futures markets.
Practitioner Viewpoint: Cranwood Capital’s Ferenc Sanderson questions the conventional pigeonholing of investment strategies.
Regulators & Courts: The futures regulator is likely to expand, as are futures exchanges.
Top Ten: Stock index traders with the highest returns.
Download as PDF
Tue, 19 May 2009
Founding Father Q&A: There are few managers in high-frequency trading and even fewer with a long track record. We are delighted to present insights from Roy Niederhoffer, one of the rare longtime practitioners of this intriguing niche strategy.
Futures Lab: Susan Roberts of R.G. Niederhoffer Capital analyses the distinctive features of shortterm trading compared to long-term trend following. What effect do these have on an investor's portfolio?
Insider Talk: The latest perspective on the two-way street between automation and investment strategy, from Trading Technologies executives.
News Briefs: Renaissance Technologies, Carbon permits and more.
Practitioner Viewpoint: Several views on the outlook for commodity investing, including forecasts from a report from Nouriel Roubini’s RGE.
Index Tracker: Asset flows and various indexes.
Top Ten: CTAs with the smallest drawdowns.
Download as PDF
Tue, 05 May 2009
Founding Father Q&A: Bill Dunn, a managed futures pioneer, discusses the ins and outs of long-term trend following. As a manager with several decades of experience, he brings an almost unique perspective.
Futures Lab: Professor Harry Kat demonstrates that combining managed futures and hedge funds is a match made in heaven!
Insider Talk: How do you assess managers with different investment styles when investing in managed futures? Tony Gannon, a futures veteran and chief executive of Abbey Capital, explains the key points. The firm invests $1.7 billion in managed futures and foreign exchange.
Practitioner Viewpoint: Alan Rohrbach of Rohr International Inc. argues that trend analysis offers advantages for understanding markets in the super correction we’re living through.
News Briefs: What investors say about managed futures allocations; the Dubai Mercantile Exchange; Altegris, and more.
Top Ten: Attain Capital’s three-year ratings.
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Tue, 21 Apr 2009
Founding Father Q&A: How does a quantitative team develop trading models and technologies? Pascal Magnollay, founder of DKR Fusion, part of DKR Capital Inc., lifts the curtain and explains the process of innovating and diversifying strategies.
Futures Lab: Within the managed futures industry there are many approaches and techniques, with different strengths and weaknesses. A study from Man Investments highlights some key differences.
Index Tracker: Comparing the March performance of different hedge fund sectors confirms that managed futures returns correlate negatively with equity markets. We see the downside of this typically desirable attribute.
Practitioner Viewpoint: Jonathan Kleisner, managing director at Rex Capital Partners, argues that CTAs should have the skill set to understand the opportunities new technologies offer for better trade execution.
Insider Talk: Christopher Jones of Diamond Peak Capital, a fund of funds firm, has been investing in CTAs via managed accounts. He shares his experience and insights.
Regulators & Courts: Carbon trading could become a $2 trillion new market if the US enacts a national cap-and-trade system. The CFTC says it is ready to regulate environmental futures and options, as exchanges gear up with new contracts.
Top Ten: Three-year rankings and compounded annual returns for systematic and discretionary programs.
Download as PDF
Tue, 07 Apr 2009
Founding Father Q&A: Peter Matthews, the developer of Man Group’s original futures trading program, explains why he built a new system and how it differs from other models.
Futures Lab: Mack Frankfurter of Cervino Capital argues that commodity roll yield calculations are based on a fictional transaction.
Insider Talk: “Trader Vic” Victor Sperandeo discusses the ups and downs of long/short futures indexes.
News Briefs: New fund, new data service, wine futures.
Manager Profiles: Comments from CTA fund of funds’ managers.
Practitioner Viewpoint: Michael Covel reviews the lessons of 2008.
Regulators & Courts: FINRA chief talks about regulatory change.
Top Ten: Barclay Hedge’s most recent ranking.
Download as PDF
Tue, 24 Mar 2009
Founding Father Q&A: Mark Rosenberg of SSARIS explains how to invest for times when markets behave irrationally.
Futures Lab:Certain strategies work well in stressed market environments, as demonstrated by the difference between convergent vs. divergent investment philosophies.
Index Track: Energy rally hits short sellers; commentary from Credit Suisse.
Insider Talk: Learn about turnkey managed account investing. Interview with Aleks Kins, chief executive of AlphaMetrix.
News Briefs: Fortress finds investors want managed accounts.
Practitioner Viewpoint: What needs to be done to restore investor confidence? An administrator with 30 years of managed futures experience speaks his mind.
Regulators & Courts: Suicide Reveals Long-Time Scheme.
Manager Profiles: Up-and-coming managers comment on their strategy and the markets.
Top Ten: Here is a ranking is from a managed account platform.
Download as PDF
Tue, 10 Mar 2009
Founding Father Q&A: Ken Tropin, founder and chairman of Graham Capital Management
Futures Lab: Insight on how to make the tails of the distribution work for you in hedge fund investing
Insider Talk: Why Don't CTA Assets Grow? Two veterans offer a contrarian view
Practitioner Viewpoint: Managers offer their perspective on how to turn market volatility into opportunity
Manager Profiles: Up-and-coming managers comment on their strategy and the markets
Regulators & Courts
Top Ten: The most recent ranking from Managed Account Research
News Briefs
Download as PDF
Tue, 24 Feb 2009
Founding Father Q&A: Tim Wong, Chief Executive of Man Group's AHL, talks about how the firm continues to improve its trading approach
Insider Talk: Seasoned hedge fund investor Jon Knudsen, co-chief investment officer of Tapestry, discusses what he looks for in CTAs.
Futures Lab: Learn about ways to control the risks associated with managed futures.
Manager Profiles: Up-and-coming managers comment on their strategy and the markets.
Regulators & Courts: Futures-related fraud cases continue to pile up.
Top Ten List: The most recent ranking from Autumn Gold
News Briefs: Managed Futures Share of Industry Assets
Download as PDF
Tue, 10 Feb 2009
Founding Father Q&A: Martin Lueck, president of Aspect Capital and a founder of AHL
Index Track: You may be surprised at the variation in returns...
Insider Talk:Sol Waksman, founder of Barclay Hedge, tells us what's behind MF performance
Futures Lab: Reliable portfolio diversification
Regulators & Courts: The surge in futures scams
Practitioner Viewpoint: Simple way to avoid the next Madoff
Top Ten Managers: From a new database
News Briefs: CME, Man Group, IAM, and more
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