Sunday, 26 March 2017
Last updated 1 day ago
Apr 5 2007 | 11:57am ET
Commodity trading advisor Montague Financial is in a slump, but principal Pascal Guessas is not discouraged. In fact, he’s taking it to the investors to help jumpstart the firm’s P50 and P100 programs, which are down 14.92% and 3.34% on the year, respectively, as of the end of February. Both programs trade stock index futures and financials and currencies futures.
“We have made some changes in other areas, and I think that we should see results within the next couple of months,” said Guessas, in his monthly investor letter.
Guessas explained to FINalternatives that changes have been made to the programs in terms of “locking in profits very quickly rather than position trade and let the position run as what is true today will almost certainly be wrong tomorrow,” as well as other changes that he declined to discuss.
He also urged his investors to show faith in the programs during drawdown periods by doubling up as opposed to heading for the exits. “I know and realize that this might go against the large majority of investor’s philosophy, but, after 30 years in the futures industry, I can only say that this is the way I know best to produce what is expected of me,” he said.
Both P100 and P50 programs were down 21.96% and 0.74% respectively last year.
Montague managed $4.6 million in assets at the end of 2006.