Quadriga Superfund - Managed Futures

[spect8or]

Because the fund started the year profitably. Thus he is down more 'peak-to-trough' than he is down from the beginning of the year.

However, my math has Schindler down only 49% (not 58%) in the last three months?

As far as how to deal with such a drawdown, I would simply look at what Schindler (or similar fund) is trying to do -- 50-100+ % returns -- and remind myself that getting such returns is normally going to involve sitting through this kind of a drawdown. If you've put all your eggs in this basket, however, than it's understandable you might be feeling very jittery right now.

 

[spect8or]

Quote from NKNY:

Here is the question.....

Are the funds trading here in the US traded in the same manor (system) as the one's available in europe.
.

Wow, they trade in a manor? Eccentric bunch, huh?

 

[Apex Capital]

"Cutten, I do trade thank you. I use to back floor traders on the Amex. Now they have all left as the Amex is just about dead."

- - - - - - - - - - - - - - - - - -

Isn't it amazing how "losers" will always blame their inability to trade successfully and make money on a DEAD EXCHANGE. How many times have we heard that before?

Yeah, trading on the AMEX must be a real bummer.

Those ETF's sure look like they hardly trade, eh?
Only 83 million shares in the QQQ and 41 million in the SPY's.
Looks like Bluefin Trading continues to clean up on the AMEX. Ever hear of ETF arbitrage? Guess not.

As Cutten said earlier . . . "Learn How To Trade."

http://www.amex.com

 

[NKNY]

Quote from spect8or:

Because the fund started the year profitably. Thus he is down more 'peak-to-trough' than he is down from the beginning of the year.

However, my math has Schindler down only 49% (not 58%) in the last three months?

As far as how to deal with such a drawdown, I would simply look at what Schindler (or similar fund) is trying to do -- 50-100+ % returns -- and remind myself that getting such returns is normally going to involve sitting through this kind of a drawdown. If you've put all your eggs in this basket, however, than it's understandable you might be feeling very jittery right now.

Got it ...'peak-to-trough'

Thanks

 

[damir00]

Quote from bigfish:

I have to admit I wouldn't have registered on ET if it wasn't for this thread.

this is, what, the 14th time you've gone out of your way to point out how recent "you" are to ET? you're crossing into "he doth protest too much" territory...

 

[Aaron]

Quote from spect8or:

As far as how to deal with such a drawdown, I would simply look at what Schindler (or similar fund) is trying to do -- 50-100+ % returns -- and remind myself that getting such returns is normally going to involve sitting through this kind of a drawdown.

Thanks for pointing this out, Spect8or. Exactly. The more technically minded reader may find this <a href="http://www.schindlertrading.com/include/content/uploads/drawdown%20analysis.pdf">drawdown analysis</a> interesting.

 

[bigfish]

Quote from Apex Capital:

"Cutten, I do trade thank you. I use to back floor traders on the Amex. Now they have all left as the Amex is just about dead."

- - - - - - - - - - - - - - - - - -

Isn't it amazing how "losers" will always blame their inability to trade successfully and make money on a DEAD EXCHANGE. How many times have we heard that before?

Yeah, trading on the AMEX must be a real bummer.

Those ETF's sure look like they hardly trade, eh?
Only 83 million shares in the QQQ and 41 million in the SPY's.
Looks like Bluefin Trading continues to clean up on the AMEX. Ever hear of ETF arbitrage? Guess not.

As Cutten said earlier . . . "Learn How To Trade."

http://www.amex.com

Wow, it absolutely blows my mind how stupid some people on here are. Apex/Waggie, I backed MM's as in options traders. Not guys trading ETF's. The options floor on the Amex is dead. That is why seat leases are almost free there smart guy. Wow, you are not the sharpest tool in the shed are you. And btw, it's quite common for successful traders to start backing other traders once they have enough money to do so. It's actually what drives this industry. Just because you can't afford to do that doesn't mean others can't. Did I read on another thread that you work for ETG or Assent? Oh man, no further questions your honor.

 

[bigfish]

Quote from damir00:

this is, what, the 14th time you've gone out of your way to point out how recent "you" are to ET? you're crossing into "he doth protest too much" territory...

The reason I keep pointing that out Damir is because I have only been posting on this website for a couple of weeks and I have already been attacked by numerous posters. And all of these attacks were unwarranted. I haven't attacked anyone. Now maybe this is the protocol around here I don't know but I really wish people would give new posters the chance to post without accusing them of being other people or ridiculing them. Sounds fair right? Good day.

 

[vulture]

I find it somewhat interesting, perhaps even troubling, that no one has mentioned the fact that The Schindler Fund has experienced the large drawdowns as the assets under management increased rapidly. The track record that many reference as a rationalization for sticking with this fund is irrelevant I believe. The track record was not based on an 8-9million dollar fund, rather it appears that track record reflects his returns on a six figure account.

Secondly, the turnover of the fund is very high. 23,000 r/t's per million as is leverage with a MER of 40%. Until you see that exponential growth in the returns on the 9-10m+, I think its wishful thinking to believe that 100% returns are right around the corner in the near future...

 

[Mathemagician]

Folks, before anyone starts singling out Aaron's drawdown and attempting to draw any conclusions from it, you should take a look at what's going on in the industry in general. Here are a few things to consider:

1. The S&P Managed Futures Index is currently in a drawdown in the neighborhood of 16%. Based on the information that I have seen, Schindler Trading's leverage, annualized volatility, and annual returns far exceeds the Index's leverage.
2. Many large and well-respected trading programs are currently having a very difficult go of it. For example, the JWH Original Investment Program (John Henry's fund) is in a 31% drawdown as of the end of June and is approaching its largest drawdown in its 20+ years of performance history (38.25% after accounting for JWH's 1995 25% decrease in leverage). June's return alone was -15.10%
3. The last 4-5 months are widely considered by those in the industry to be among the most difficult conditions for CTAs in recent memory.

Given the above, it is not reasonable to conclude that Schindler Trading's current drawdown, while certainly unpleasant for Aaron and his clients, is due to anything other than unusually unfavorable market conditions. I would expect that CTAs in general and Schindler Trading in particular will return to their usual levels of performance in short order.

jj