Another futures fund blows

Quote from DT-waw:

AIS
http://www.autumngold.com/Advisor/Statistics/cta_profile.php?op=profile&id=359

I don't get it... recent months are perfect for short term trading, yet they're crushed :eek:
what the hell they're doing, trading against the trends with no stop-loss?
More...

Let's ask Surf's opinion.

I used to have a m8 who worked for a large commercial property management company over in London, we are talking big bucks in management fees. Whilst they were excellent at obtaining contracts, they would throw lavish parties, spending huge amounts of cash to make a lasting impression on potential future clients. But as far as actual management was concerned, they were appaling in all aspects of management.

I seriously believe that certain hedge funds are run in a very similar manner ie wine & dine 'em, buy 'em presents, luuuuuuuure them in. But when it comes to performing their core duties where their expertise are meant to be, they prove to be stubborn & more inexperienced in the art of trading than we imagine them to be. I am prepared to make a bet that many of them have enough brain cells to just buy & hold. But they have the connections & can make all the right impressions to get unaware clients to give them their capital to be managed.

This is bar far not my opinion on this industry in general, only on some of them, perhaps like the ones that used to run that fund in your link.
 
Quote from JSSPMK:

But when it comes to performing their core duties where their expertise are meant to be, they prove to be stubborn & more inexperienced in the art of trading than we imagine them to be. I am prepared to make a bet that many of them have enough brain cells to just buy & hold. But they have the connections & can make all the right impressions to get unaware clients to give them their capital to be managed.
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very true...

their fund took another heavy hit in Nov -34%. and now the MAAP (3x-6x) Composite is in 84% DD.
this has obviously nothing to do with serious money management. lack of any risk control. pure gambling.
i feel sorry for their investors - the firm operates since 1992. i'm also curious what type of strategies could lead to such enormous series of losses? Are they long EURUSD from 1.55 or long ES from 1150?

This is another proof that someone's long, real track record means next to nothing in choosing a manager , but his common sense is everything that counts.
 
By July they were up 94% YTD, that was the point when they should have just took it easy and chill. The next 5 months were all negative...

So in 5 months they went from +94% to -69%, that is some crazy deathspiral...
 
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