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Program Description:
Managed Futures Account
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Pursuant to a Trading Advisory
Agreement, clients will grant
Global Ag sole discretionary
authority to direct, without
the prior approval of the client,
utilization of the assets and
funds of the client’s
account in the purchase and
sale of commodity futures contracts.
Brokerage commissions arising
from the trading of the client’s
account will be charged to the
account at such rate or rates
as the commodity broker publishes
and charges for nonmember speculative
accounts, or such lower rates
as may be agreed upon between
the client and the commodity
broker. The current minimum
for new accounts is US $1,000,000.
David Skudder primarily, but
not exclusively, trades futures
on agricultural markets, primarily
grains and oilseeds and the
associated options on these
markets. On rare occasion, Mr.
Skudder trades markets other
than what he considers his primary
focus.
David Skudder is acutely aware
of the “randomness”
of markets. However, it is his
belief that fundamentals determine
the eventual movement of a particular
market towards a price, either
higher or lower than currently
observed. It is for this reason
that he relies heavily on analyzing
each market “fundamentally”
and developing a trading strategy
to compliment his analysis.
As price discovery takes place,
Mr. Skudder monitors a host
of market inputs that he deems
very important. Some of these
include energy and currency
values, domestic and international
freight values, underlying cash
values associated with futures
markets, as well as political
events in both importing an
exporting countries that can
have a substantive effect on
global trade flows. Through
this constant monitoring, Mr.
Skudder is keen to try and identify
any changing fundamental or
group of fundamentals that may
possibly alter his view on price
direction or the extent of the
move anticipated. If changes
occur he will adjust accordingly.
Mr. Skudder is just as comfortable
trading the futures markets
from the sell side as from the
buy side. Once the analysis
is complete and the trend move
is identified, Mr. Skudder will
trade a range around price movement
in an effort to maximize returns.
THERE IS NO ASSURANCE THAT ANY
PROFIT WILL BE PROVIDED TO THE
INVESTORS IN THE TRADING AS
A RESULT OF USE OF THESE TRADING
METHODS BY THE COMMODITY TRADING
ADVISOR. No participant will
acquire any rights or proprietary
interest in, or have access
to any of the information, data
or trading methods utilized
by Global Ag.
Markets Traded
Global Ag may trade any variety
of commodity interests on either
regulated or unregulated exchanges
that may include, but are not
limited to grains, meats, metals,
minerals, currencies, financial
markets indices, energy related
materials and other items of
food and fiber, money market
instruments, and items that
are now, or may hereinafter
be, the subject of futures contract
trading, options contracts,
or physical commodities trading
or derivatives or other contracts
on such items or instruments
(collectively “Commodity
Interests”). The markets
available for inclusion in the
portfolio will normally be limited
to sufficiently liquid Commodity
Interests and may evolve over
time as the requirements for
portfolio balance and liquidity
change. Markets traded by David
Skudder in his capacity as a
CTA prior to his association
with Global Ag, and those which
are to be traded by Global Ag
include:
US Physical Derivative Markets
.:
Crude Oil
(New York Mercantile
Exchange)
.:
Heating Oil
(New York Mercantile Exchange)
.:
Unleaded Gasoline
(New York Mercantile Exchange)
.:
Natural Gas
(New York Mercantile Exchange)
.:
Coffee
(New York Board of Trade)
.:
Cotton
(New York Board of Trade)
.:
Corn
(Chicago Board of Trade)
.:
Soybean Oil
(Chicago Board of Trade)
.:
Soybean Meal
(Chicago Board of Trade)
.:
Wheat
(Chicago Board of Trade)
.:
Soybeans
(Chicago Board of Trade)
.:
Gold
(NYMEX / Commodity Exchange
Center)
.:
Silver
(NYMEX / Commodity Exchange
Center)
US Financial Derivative Markets
.:
US 30 Year Bond
(Chicago Board of Trade)
.:
US 10 Year Bond
(Chicago Board of Trade)
.:
US 5 Year Bond
(Chicago Board of Trade)
.:
S&P
(Chicago Mercantile Exchange)
.:
Eurodollars
(Chicago Mercantile Exchange)
.:
Japanese Yen
(Chicago Mercantile Exchange)
.:
Euro Currency
(Chicago Mercantile Exchange)
.:
British Pound
(Chicago Mercantile Exchange)
.:
Swiss Franc
(Chicago Mercantile Exchange)
.:
Australian Dollar
(Chicago Mercantile Exchange)
.:
Canadian Dollar
(Chicago Mercantile Exchange)
Management Information: David
Skudder
David Skudder (“Skudder”)
is Chairman of Global Ag and
is primarily responsible for
the trading decisions of Global
Ag. Mr. Skudder maintains an
office at 9047 Poplar Avenue,
Suite 101, Germantown, Tennessee,
38138. Mr. Skudder currently
is sponsored by Nesvick Trading
Group, LLC as an Associated
Person and an NFA Member. As
an Associated Person, Mr. Skudder
handles the commodity futures
trading for various public customers
on a discretionary basis. In
such capacity, Mr. Skudder holds
responsibility for supervision
and compliance with NFA Rules
and other laws and regulations
pertinent to the commodity futures
business he conducted.
On November 26, 2008, the application
of Mr. Skudder with the NFA
to become an Associated Person
of the Advisor became effective
and on February 11, 2009 the
application of Mr. Skudder with
the NFA to become a Listed Principal
of the Advisor became effective.
As an Associated Person of the
Advisor, Mr. Skudder seeks to
employ similar trading strategies
and methodologies that he employed
individually in his capacity
as an Associated Person.
As a Listed Principal of the
Advisor, Mr. Skudder is responsible
for supervision and compliance
with NFA Rules and other laws
and regulations pertinent to
the business conducted by the
Advisor.
Mr. Skudder is a graduate of
Virginia Tech University where
he received his B.S. in Agricultural
Economics in 1983. In September
of 1992, Mr. Skudder joined
the Sparks/Memphis office of
Refco, a commodities trading
firm where he focused primarily
on commercial grain and food
company business. As the years
progress, Mr. Skudder transitioned
from a commercial customer business
to where he is at present, managing
his own money and trading speculatively
for a group of investors.
On November 11, 1992, the application
of Mr. Skudder with the NFA
as an Associated Person of Refco,
LLC, a registered FCM, was approved.
As an Associated Person of Refco,
LLC, Mr. Skudder was responsible
for supervision and compliance
with NFA Rules and other laws
and regulations pertinent to
the commodity futures business.
Mr. Skudder served in this capacity
until November 3, 2005.
On November 1, 2005, the application
of Mr. Skudder with the NFA
to become an Associated Person
of Nesvick Trading Group, LLC,
a registered Introducing Broker,
was approved. As an Associated
Person of Nesvick Trading Group,
LLC, Mr. Skudder is responsible
for supervision and compliance
with NFA Rules and other laws
and regulations pertinent to
the commodity futures business.
The descriptions above are from
the manager’s disclosure
document.
THE RISK OF LOSS IN TRADING
FUTURES, OPTIONS AND OFF-EXCHANGE
FOREX CAN BE SUBSTANTIAL.
PAST RESULTS ARE NOT NECESSARILY
INDICATIVE OF FUTURE RESULTS.
PLEASE READ THE CTA'S RISK
DISCLOSURE DOCUMENT CAREFULLY
BEFORE INVESTING MONEY.
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