High-Performance Managed Futures : The New

In High-Performance Managed Futures: The New Way to Diversify Your Portfolio, Mark Melin, a veteran of the managed futures industry, updates a Nobel Prize-winning investment method, guiding readers through investing in managed futures programs, where experienced money managers invest client assets in markets as diverse as metals, grains, soft commodities, energy, equity indexes, interest rates, foreign currency, and U.S. government bonds.

Mark H. Melin has written/edited three books,including The Chicago Board of Trade Handbook of Futures and Options, as well as coproduced the official Managed Futures CD-ROM for the Chicago Board of Trade.?Melin has worked extensively in the futures and options industry as a consultant for organizations such as the Chicago Board of Trade, OneChicago: The Single Stock Futures Exchange, as well as several Futures Commission Merchants (FCMs) and Broker Dealers (BDs). He is currently a division director with a leading FCM in Chicago.

Preface	p. ix
Acknowledgments	p. xiii
Disclaimer	p. xv
Understand It: The Truth about Risk and Misunderstood Investments	p. 1
What Is This "Managed Futures" I've Never Heard About?	p. 2
Stock Market "Safety" and Other Myths	p. 3
Invest with Stock Market Neutral Programs	p. 5
The Stock Market Is Not "Safe" or "Conservative" and Does Not Offer True Diversification	p. 6
It Works in Practice but Does It Work in Theory?	p. 14
Wall Street's Motivation for Keeping Managed Futures a Secret	p. 16
Define It: Establish Performance and Risk Targets	p. 25
The Simple Managed Futures Definition	p. 27
Target Risk/Reward Profiles	p. 28
Work With It: Build Basic Portiolios Using Targets	p. 41
Portfolio Diversification versus Individual Manager Selection	p. 43
Individual CTA Analysis and Portfolio Considerations	p. 52
Realize It: The Old Way versus High Performance	p. 69
The Fastest-Growing Asset Class?	p. 69
This Unique and Very Special Asset Class	p. 70
Managed Futures Defined	p. 72
Decoding the D Doc	p. 85
Don't Be a Victim: Leverage Managed Futures Regulation and Account Structure to Avoid Hedge Fund Fraud	p. 89
Managed Futures Regulation, Account Structure, and Protection	p. 90
Transparency: The Ability to See and Understand an Investment	p. 91
Auditing Performance and Money Flow	p. 95
Tight Regulatory Control: Meet the NFA and CFTC	p. 98
Recognize It: Volatility + Volatility and Lintner's Message	p. 101
Volatility Used to Reduce Volatility	p. 103
All Volatility Is Risky ... To Different Degrees	p. 103
Standard Deviation as Measure of Volatility	p. 117
Use It: Reward-Adjusted Deviation (RAD) Considers Past Probability and Rewards Success	p. 119
Study 1: Exploring RAD with Math	p. 120
The Test of Success	p. 122
Study 2: Average Drawdown: RAD versus STD When Actual Risk Improves	p. 124
Study 3: Where CTAs Fall Based on RAD	p. 127
Risk "Indicators" Don't Indicate Risk	p. 131
Protect it: Principal-Protected, Conservative, and Risky Investments	p. 133
Don't Be Fooled	p. 134
Four Steps to Creating Principal-Protected Products	p. 137
Strategies to Maximize Return	p. 139
Use All of It: Overlooked Points of Correlation	p. 147
Is Managed Futures the World's Most Noncorrelated Asset?	p. 149
Balance Risk and Return: Managed Futures Cushion during Stock Turbulence	p. 150
Correlation Study: Major Indexes	p. 152
Managed Futures Noncorrelation Is Not an Accident	p. 154
Traditional Returns-Based Correlation Logic Is Faulty	p. 160
Noncorrelation with Stocks Could Be the Investor's Best Friend	p. 167
Build It: CTA Evaluation and Portfolio Construction	p. 169
Translating Investor Goals into Portfolio Design Strategy	p. 171
What Is the Best Method to Identify Successful CTAs?	p. 173
Portfolio Building with Volatility Skewing	p. 176
High-Performance Managed Futures Portfolio Building Exercise	p. 178
Why Investors Must Look Past Simple Average Return Headlines	p. 191
The Hidden Risk in Uneven Returns Distribution	p. 193
Don't Judge by Looks Alone	p. 194
Understand It: The Naked Truth Behind Managed Futures Risk	p. 199
The Simple Way to Look at Risk Management: Choke Points	p. 201
Leverage Can Magnify Wins as Well as Losses; Just Ask a Banker	p. 203
Exploring Individual Manager Risk	p. 209
Fraud Risk	p. 212
Don't Sit Back: Active Management of Risky Investments	p. 217
Are the Biggest Risks Those That Are Unknown?	p. 219
A Graphical Look at the Managed Futures Account	p. 221
Individual Manager Risk	p. 228
The Future of Managed Futures can be Found in its History	p. 230
Conclusion	p. 236
HPFM Strategy Benchmark Performance Study	p. 239
Twelve Questions Investors Should Ask...of Themselves	p. 242
Selecting a Commodity Trading Advisor	p. 244
Identifying True Risk and Utilizing the Best Managed Futures Performance Measure	p. 253
Regulated versus Unregulated Entities	p. 268
Markowitz and Lintner: A "Modern" Investment Method Half a Century Old	p. 271
Notes	p. 281
About the Author	p. 297
Index	p. 299
Table of Contents provided by Ingram. All Rights Reserved.

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

FREE SHIPPING

Amazon no longer offers textbook rentals. We do!

High-Performance Managed Futures : The New Way to Diversify Your Portfolio

Summary

Author Biography

Table of Contents

Supplemental Materials