Tactical Investment Management Need help with terms? United States Type: Commodity Trading Advisor (CTA) Registrations: NFA ID: 0001466 Program Past 12 Months Jul YTD CAROR WDD AUM Min Inv Visits Tactical Institutional Commodity Fund 9.15 14.69 -38.84 $ 80.7M $ 10,000k 1352 Tactical Institutional Commodity Program 9.14 16.01 -41.53 $ 88.8M $ 10,000k 42137 Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial. CTA Introduction Tactical Investment Management manages one of the longest running commodity futures trading programs in the world. Since 1981 we have systematically traded futures and currencies for a small number of institutional and individual clients. Our clients seek an aggressive long-term investment in an alternative asset unrelated to stocks and bonds. David S. Druz, MD is the President, the founder, the sole director and shareholder of Tactical Investment Management Corporation. He began managing his own personal commodity interest accounts in August 1975. He has been registered with the Commodity Futures Trading Commission as a principal since March 1980 and as an associated person since December 1983. He became a National Futures Association associated member in August 1985. Dr. Druz was employed by Stotler & Company, a former Futures Commission Merchant, beginning in June, 1977 and worked intermittently on a contractual basis until June, 1980 to perform commodity market research for its research department while concurrently attending medical school. He founded Tactical in February 1980 and beginning in June, 1980 to the present he has performed commodity market research for the company. He became registered as a branch office manager in September 1990 and withdrew his registration in March 2010. Dr. Druz received a bachelor's degree in electrical engineering with emphasis in computer science from the University of Illinois in May, 1975 where he graduated first in his class with a 5.0 grade average. He received a medical doctor degree from Johns Hopkins School of Medicine in May, 1979 and subsequently pursued a dual career in futures investment analysis and in medicine. From July, 1979 through June, 1982 he did an emergency medicine residency and from July, 1982 through June, 1991 he worked as a board certified practicing emergency physician, all the while concurrently running Tactical Investment Management. In July, 1991, Dr. Druz left the practice of Emergency Medicine to devote his energies fully to Tactical Investment Management Corporation and his futures investment career. Dr. Druz is the market analyst, research programmer, and a principal of Tactical Investment Management Corporation. The Tactical Trading System used by the Advisor is his development.