Murray Investment Company : Hedged T-Bond Portfolio Program

archived programs
Year-to-Date
N / A
Performance
Min Investment
$ 0k
Mgmt. Fee
0%
Perf. Fee
0%
Annualized Vol
0.00%
Sharpe (RFR=1%)
0.00
CAROR
-
Assets
Worst DD
N/A
S&P Correlation
0.00

Growth of 1,000 - VAMI

Monthly Performance

Export Data
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD DD

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Strategy Description

Summary

-The U.S. T-Bond Portfolio Management Program has the following characteristics: Technical The program will use "technical" analysis based on the theory that a study of the markets themselves provides a means of anticipating price movements. This approach examines, for example, patterns... Read More

Account & Fees

Type Managed Account
Minimum Investment $ 0k
Trading Level Incremental Increase $ 0k
CTA Max Funding Factor
Management Fee 0%
Performance Fee 0%
Average Commission $0
Available to US Investors Request Information

Subscriptions

High Water Mark No
Subscription Frequency
Redemption Frequency
Investor Requirements
Lock-up Period 0

Trading

Trading Frequency 0 RT/YR/$M
Avg. Margin-to-Equity 0%
Targeted Worst DD
Worst Peak-to-Trough 0%
Sector Focus Not Specified

Holding Periods

Over 12 Months 0%
4-12 Months 0%
1-3 Months 0%
1-30 Days
Intraday 0%

Decision-Making

Discretionary 0%
Systematic 0%

Strategy

Summary

-The U.S. T-Bond Portfolio Management Program has the following characteristics: Technical The program will use "technical" analysis based on the theory that a study of the markets themselves provides a means of anticipating price movements. This approach examines, for example, patterns of price changes, rates of change and changes in volume, open interest and other statistical indicators. Robust The program has been developed to be robust, i.e., work in a variety of markets and time frames. The Advisor believes that the program has the potential to be profitable over different time frames--daily and weekly--and in a variety of market conditions--bull markets and bear markets and inflation and deflation. Selling Options A major component of the program is to sell options on futures contracts. It should be emphasized and clearly recognized that unlike an option buyer who has a limited risk (the loss of the option premium), the seller of an option has unlimited risk. Money Management Effective risk management is a crucial aspect of the trading program. Account size, expectation, volatility of market traded and the nature of other positions taken are all factors in deciding whether to take a position and determining the amount of equity committed to that position. Specifically, the U.S. T-Bond Portfolio Management Program has two parts. Part 1. The Advisor buys 30-year US Treasury Bonds because of their safety and because they pay the highest dividend of any government debt instruments. There is a risk that the asset value of the T-Bonds will erode away when interest rates go up. The Advisor hedges this risk of asset erosion with futures and options on futures. Part 2. The Advisor uses sophisticated strategies to sell options and collect the premiums to enhance the yield on the portfolio. Studies have shown that many options expire worthless. The Advisor attempts to target options that will expire worthless and collect the premium to enhance the returns on the portfolio. Each of these two parts is managed separately and smaller accounts will not have actual cash bonds but will be managed with only the option premium selling strategies designed to harvest option premium as time passes and the premium decays away. The price of underlying futures contract determines whether the option expires without being exercised (which is what the option writer hopes will happen) or whether the option is exercised because it is in-the-money." Prices on futures contracts are volatile. Price movements of these contracts are influenced by a wide variety of complex and hard to predict factors, such as: government trade, fiscal, monetary and exchange control programs and policies; national and international political and economic events; changes in interest rates; and prevailing psychological characteristics of the marketplace. The profitability of the Advisor's options trading may depend on anticipating trends in the volatile price movements of stock index futures contracts underlying the options. The Advisor's ability to make a profit will depend largely on the success of the Advisor in anticipating or participating in market trends and price movements and buying or selling accordingly. No assurance can be made that such objective will be met. The Advisor uses discretion in timing market entries and exits, and various strategies are employed for phasing in and out of positions. Occasionally, when traded markets become unstable, a client account may hold no open positions. Trading decisions require the exercise of judgment by the Advisor. Therefore, the success of trading depends on the Advisor's trading ability, knowledge and judgment. The Advisor will exercise its judgment and discretion in interpreting the data generated by its trading program, and will make all decisions regarding the trading in your account, including selecting the markets which will be followed and actively traded. In addition, the Advisor determines the method by which orders are placed, the types of orders that are to be placed, the overall leverage for the portfolio, and, when applicable, the time at which orders are placed with, and executed by, a broker. Investment decisions made in accordance with the program are based on an assessment of available market information. However, because of the large quantity of information at hand, the number of available facts that may be overlooked and the variables that may shift, any investment decision must, in the final analysis, be based on the judgment of the Advisor. The decision by the Advisor not to trade certain markets or not to make certain trades may result at times in missing price moves and hence profits of great magnitude, which other trading managers who are willing to trade these markets may be able to capture. The Advisor's approach is dependent in part on the existence of certain technical and fundamental indicators. There have been periods in the past when there were no such market indicators, and those periods may recur.

   

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

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Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Note: Figures shown in the Monthly column are the greatest figures (or worst for losses/drawdowns) for any particular month. The Annual figures are the greatest for any calendar year.

Drawdown Report

Consecutive Gains

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Consecutive Losses

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Top Performer Badges

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Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.