Must read!

Due interessanti articoli riguardo alcuni sofisticati (ma complessi e poco trasparenti) investimenti che sono quotidianamente proposti a molti investitori.

 

How investors lose 89 percent of gains from futures funds 

The great diversification bait and switch 

Dall’articolo di Bloomberg: 

“If you’ve never diversified your portfolio beyond stocks and bonds, you should know about the powerful argument for managed futures,” the bank wrote. “Managed futures may potentially profit at times when traditional markets are experiencing losses.”

“Investors who kept their money in Spectrum Technical for that decade, however, reaped none of those returns -- not one penny. Every bit of those profits -- and more -- was consumed by $498.7 million in commissions, expenses and fees paid to fund managers and Morgan Stanley.

"The powerful argument for managed futures turned out to be good for brokers and fund managers but not so good for investors.” 

Dall’articolo di FT – Alphaville:

"For 63 managed futures funds assessed by Bloomberg, it turns out that all the profits came from parking investors’ capital in safe T-Bills. Only around 15 per of the capital was actually used to make bets buying and selling futures contracts, without success."