Thursday, 21 August 2014
Last updated 6 hours ago
Jun 11 2007 | 11:41am ET
Montague Financial’s diversified P100 program futures looks like it may be breaking out of its recent funk. The program returned 18.31% last month after changes to its trading methodology. But it still has a long way to go: It’s down 19.8% year-to-date.
“This program has always been 98% systematic and 2% discretionary and has delivered fantastic rate of return for many years,” according to Montague founder Pascal Guessas, in his latest monthly investor letter. “So I had to take drastic measures and this program is now 50% discretionary; so, in other words, I have to use my trading experience of over 30 years in the futures industry to manage this program in a very different way.”
Guessas cautioned that it is still too early to tell if the program’s adoption of discretionary trading has “done the trick,” stating that it needs another three to four months of performance to be sure. “I am still running the P100 program on a systematic basis on the side and will be able to see straight away when it can work again the way it is supposed to,” he wrote.
The futures veteran is also converting his systematic P50 program to a 50% discretionary program as of today hoping that the conversion will help turn the program’s performance around as well. The program was down 1.74% in May and is down 29.09% in 2007.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note