November Quote

December 11, 2018

“Our trading routine is continuous and rigorous. We’re constantly monitoring and revising our return expectations based on a steady stream of analysis. The recent market volatility has moved our average gain/loss ratio up five-fold. As a result, our return expectations going forward are much higher, but the type and number of trade-setups are crucial in this environment (at times it feels like we’re playing with fire). Although we’re optimistic we’ll turn volatility into profits, thus far the markets have forced us to wait. October and November were difficult to say the least, with 65% of the 44 trading days available being down-days. Furthermore, making money in November was nearly impossible, with only 6 of the 21 trading days posting gains, and each sizable up-day was followed by a large down-day. All we could do was preserve capital and wait for a fat pitch. While it’s easy to be disappointed with recent performance, we’re pleased with the risk/reward trades executed by the fund in these volatile times. However, making money is fun, and we’ve had little in the way of fun over the last two months. Nonetheless, we remain steadfast and confident that plenty of “fun days” are in our future.”

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Actuarial® is a marketing name for subsidiaries of Actuarial Management Corporation ("AMC"), including, but not limited to,Actuarial Institutional, Banbury Group, Dant, and 1791 Management. Each company is solely responsible for its own financial conditions and contractual obligations. 

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