The recent spike in natural gas futures has been a windfall for managed futures players. Back-tested models show that similar setups in this energy contract have yielded over 1.2% weekly returns in comparable market patterns. Frustrated with the way Palo Alto schools taught math, Munger joined the state’s curriculum commission in 2003. He waded into major political spending in 2005, when he gave $100,000 to an unsuccessful redistricting measure backed by former GOP Gov. Arnold Schwarzenegger. Accordingly, nothing in this material constitutes impartial investment advice or advice in a fiduciary capacity, as defined or under the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986, both as amended. With the S&P 500 facing resistance at 5,150, managed futures managers are rotating capital into agricultural commodities. Wheat futures rose 3% this week, offering diversification benefits that outpaced equity returns in volatile macro conditions.
