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| Preface | |
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| Acknowledgments | |
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| Disclaimer | |
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| Understand It: The Truth about Risk and Misunderstood Investments | |
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| What Is This "Managed Futures" I've Never Heard About? | |
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| Stock Market "Safety" and Other Myths | |
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| Invest with Stock Market Neutral Programs | |
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| The Stock Market Is Not "Safe" or "Conservative" and Does Not Offer True Diversification | |
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| It Works in Practice but Does It Work in Theory? | |
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| Wall Street's Motivation for Keeping Managed Futures a Secret | |
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| Define It: Establish Performance and Risk Targets | |
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| The Simple Managed Futures Definition | |
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| Target Risk/Reward Profiles | |
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| Work With It: Build Basic Portiolios Using Targets | |
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| Portfolio Diversification versus Individual Manager Selection | |
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| Individual CTA Analysis and Portfolio Considerations | |
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| Realize It: The Old Way versus High Performance | |
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| The Fastest-Growing Asset Class? | |
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| This Unique and Very Special Asset Class | |
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| Managed Futures Defined | |
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| Decoding the D Doc | |
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| Don't Be a Victim: Leverage Managed Futures Regulation and Account Structure to Avoid Hedge Fund Fraud | |
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| Managed Futures Regulation, Account Structure, and Protection | |
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| Transparency: The Ability to See and Understand an Investment | |
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| Auditing Performance and Money Flow | |
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| Tight Regulatory Control: Meet the NFA and CFTC | |
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| Recognize It: Volatility + Volatility and Lintner's Message | |
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| Volatility Used to Reduce Volatility | |
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| All Volatility Is Risky ... To Different Degrees | |
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| Standard Deviation as Measure of Volatility | |
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| Use It: Reward-Adjusted Deviation (RAD) Considers Past Probability and Rewards Success | |
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| Study 1: Exploring RAD with Math | |
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| The Test of Success | |
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| Study 2: Average Drawdown: RAD versus STD When Actual Risk Improves | |
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| Study 3: Where CTAs Fall Based on RAD | |
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| Risk "Indicators" Don't Indicate Risk | |
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| Protect it: Principal-Protected, Conservative, and Risky Investments | |
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| Don't Be Fooled | |
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| Four Steps to Creating Principal-Protected Products | |
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| Strategies to Maximize Return | |
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| Use All of It: Overlooked Points of Correlation | |
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| Is Managed Futures the World's Most Noncorrelated Asset? | |
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| Balance Risk and Return: Managed Futures Cushion during Stock Turbulence | |
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| Correlation Study: Major Indexes | |
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| Managed Futures Noncorrelation Is Not an Accident | |
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| Traditional Returns-Based Correlation Logic Is Faulty | |
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| Noncorrelation with Stocks Could Be the Investor's Best Friend | |
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| Build It: CTA Evaluation and Portfolio Construction | |
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| Translating Investor Goals into Portfolio Design Strategy | |
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| What Is the Best Method to Identify Successful CTAs? | |
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| Portfolio Building with Volatility Skewing | |
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| High-Performance Managed Futures Portfolio Building Exercise | |
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| Why Investors Must Look Past Simple Average Return Headlines | |
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| The Hidden Risk in Uneven Returns Distribution | |
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| Don't Judge by Looks Alone | |
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| Understand It: The Naked Truth Behind Managed Futures Risk | |
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| The Simple Way to Look at Risk Management: Choke Points | |
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| Leverage Can Magnify Wins as Well as Losses; Just Ask a Banker | |
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| Exploring Individual Manager Risk | |
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| Fraud Risk | |
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| Don't Sit Back: Active Management of Risky Investments | |
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| Are the Biggest Risks Those That Are Unknown? | |
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| A Graphical Look at the Managed Futures Account | |
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| Individual Manager Risk | |
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| The Future of Managed Futures can be Found in its History | |
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| Conclusion | |
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| HPFM Strategy Benchmark Performance Study | |
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| Twelve Questions Investors Should Ask...of Themselves | |
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| Selecting a Commodity Trading Advisor | |
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| Identifying True Risk and Utilizing the Best Managed Futures Performance Measure | |
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| Regulated versus Unregulated Entities | |
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| Markowitz and Lintner: A "Modern" Investment Method Half a Century Old | |
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| Notes | |
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| About the Author | |
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| Index | |