The CPI Is Underrepresenting Food Inflation By 40%: Here’s The Proof

Managed Futures
From Zero Hedge May 2019: The “muzzle” on reported inflation has policymakers and analysts perplexed. As Joseph Carson, former director of economic research at Alliance Bernstein writes in his follow up to a “New Working Theory on Inflation“, numerous economic explanations and theories have been offered, and policymakers are considering making changes to their operating price-targeting framework. Yet, before any… Read More

A brief history of the CTA

Qualified institutional buyer
From Wikipedia: In the United States, trading of futures contracts for agricultural commodities dates back to at least the 1850s. The first Federal regulation aimed at futures trading was proposed in the early 1920s, leading to the passage of the Grain Futures Act in 1922. In 1936, this law was replaced by an amended version named the Commodity Exchange Act. The “commodity trading advisor” was… Read More

Are Managed-Futures Funds a Thing of the Past?

Managed Futures
Managed-futures funds are in the midst of their largest drawdown in recent history. During the past three years through the end of April 2017, the 36 unique funds in the managed-futures Morningstar Category with histories at least that long had an average maximum drawdown of 13.4%. The lion’s share of capital in this space is managed by medium to long-term… Read More