|
|
Marin Capital Markets
|
Marin Global One
.
Access This Page Directly:
http://marin.altavra.com
.
::
Program Objective
The Advisor’s asset management program is designed
for sophisticated investors. Although the risk of
loss exists in futures trading, the objective of the
Advisor is to achieve consistent and above average
returns on its assets under management through
trading and speculation in financial and commodity
futures contracts. No assurance can be given that
this objective will be met, and an investment in an
account to be traded by the Advisor should only be
considered by investors that can assume the
significant risk of commodity futures trading,
including losses in excess of their initial
investment. The Advisor will attempt to meet the
objective of capital appreciation by making trading
decisions based upon proprietary trading methods.
::
Program Methodology
In managing client accounts, the Advisor employs the
trading concepts and strategies developed by the
principals who have a combined market experience of
over two decades. Since the trading methods to be
utilized by the Advisor are proprietary and
confidential, the discussion that follows is of a
general nature and not intended to be exhaustive. In
addition, the Advisor may refine or change the
implementation of its strategy as a result of
ongoing research and development (including but not
limited to technical factors, markets traded and/or
money management principals) without prior notice to
or approval by clients. Every attempt will be made
to inform clients of any significant changes to the
Advisor’s trading program, but these notices are not
required. There can be no assurance that the
Advisor’s approach to trading will yield the same
results that it has in the past.
Commodity traders generally rely on either
fundamental or technical analysis, or a combination
of both, in making trading and investment decisions.
Technical analysis is based upon the theory that a
study of the markets themselves will provide a means
of anticipating external factors, which affect the
supply and demand of a particular commodity in order
to predict future prices. Technical analysis
of the markets generally includes a study of, among
other things, the actual daily, weekly and monthly
price fluctuations, volume variations and changes in
open interest. Fundamental analysis, on the other
hand, relies on a study of factors external to the
trading market such as general economic factors,
anticipated world events, and supply and demand
factors in order to predict future prices.
Fundamental analysis is premised on the concept that
market prices frequently may not reflect the real
value of a futures contract, although such value
will eventually determine price levels. By analyzing
underlying economic factors, a fundamental trader
hopes to predict future market trends as price
levels and actual value move into parity.
::
The Advisor's Approach
The trading systems of the Advisor were developed
through intense research that draws upon the
judgment, experience and knowledge of the technical
factors affecting various commodity markets and
attempts to identify optimal trading opportunities
within these markets. The trading approach also
relies heavily on the disciplined management of risk
and uses multiple no correlated technical strategies
to manage client accounts. The Advisor will
generally employ a dual approach that utilizes
technical and fundamental methods when deciding to
take positions in the futures markets. The Advisor
will seek to exploit perceived market inefficiencies
in the price of selected futures contracts through
both long and short positions. In evaluating the
various factors which make up a trading decision,
the systems pay close attention to each trade's risk
reward potential, how it fits into the risk profile
of the entire portfolio, and whether it adheres to
the account's overall trading goals. The Advisor may
buy and sell options on futures in an effort to
enhance total return or minimize risk. The Advisor
has no set policy with respect to the time horizons
of its long or short positions. Diverse models that
have yielded positive risk/reward characteristics in
the past are combined with other uncorrelated models
to form a robust trading program that is less
dependent on any one particular market
characteristic.
::
Portfolio Selection
The Advisor has sole discretion as to which futures
and futures options contracts it will trade. The
Advisor will effect transactions on all exchanges
located in the United States, as well as non-U.S.
exchanges, which include but are not limited to the
London International Financial Futures and Options
Exchange Ltd. (LIFFE), the London Metals Exchange
(LME), the Eurex Deutschland (EUREX), the Montreal
Exchange (ME), the Tokyo Stock Exchange (TSE), the
Singapore International Monetary Exchange (SIMEX),
and the Sydney Futures Exchange Ltd. The contracts
that are currently traded by the Advisor include
Eurocurrency, British Pound, Japanese Yen, Canadian
Dollar, Australian Dollar, Swiss Franc, Eurodollar,
U.S. 30-Year Bond, U.S. Ten-Year Note, Euro Bund,
S&P 500, Nasdaq 100, Dow Jones Index, Dax Index,
FTSE Index, Cac 40, Nikkei Index, Taiwan Index,
Crude Oil, Unleaded Gas, Natural Gas, Heating Oil,
Gold, Silver, Copper, Corn, Soybeans, Wheat, Soybean
Meal, Soybean Oil, Cotton, Cocoa and Sugar.
::
Management Information
Peter Cadwell founded Marin Capital Markets and
currently serves as its President. Mr. Cadwell holds
a B.S. in Finance and a B.S. in Marketing from the
University of South Carolina. Prior to founding
Marin Capital Markets, he worked in various
capacities within the investment industry for over
10 years. In February 1999, Mr. Cadwell formed
Capital Berkeley, which was an independent
derivatives trading entity and has traded managed
futures and options portfolios since inception. From
November 2003 to July 2004, he also worked as a
consultant and managed account manager with eFloor
Trade, an introducing broker. From January 2005 to
September 2006, he worked with VTrader LLC, an
introducing broker, as the managing director of
futures and managed accounts. Mr. Cadwell is
responsible for the overall investment strategy of
the funds as well as the general management of Marin
Capital Markets. He oversees all aspects of research
and trading, which involves the development and
implementation of proprietary trading models and
portfolio management methods. He is registered with
the CFTC and an associate member of the NFA as of
April, 2005.
Jason Kurnik joined Marin Capital Markets in
February of 2006 and is currently the Head of
Trading and Research. He is responsible for design,
development and implementation of the investment
models used by Marin Capital Markets. Mr. Kurnik has
over 11 years of successful trading experience as he
spent eight years as a market-maker on both the
Pacific Stock Exchange and Chicago Board Options
Exchange. In 1996, he worked for Westle Securities
LLC, an options market-making firm at the Pacific
Stock Exchange. Later in December of 1996, he formed
Armstrong & Kurnik LLC (later renamed Goldsmith
Trading LLC), an options market-making and trading
partnership where he managed the firm's global
portfolio of equities, futures, commodities and
bonds. Since January of 2004, he has worked with
MDNH Partners LP, a broker-dealer with assets in
excess of $30 million, where he continued to manage
futures and derivative portfolios. Mr. Kurnik
graduated from the University of California,
Berkeley in 1994, with a Bachelor of Arts in
Economics. He is registered with the CFTC and an
associate member of the NFA as of February, 2006.
Both Peter Cadwell and Jason Kurnik are trading
principals of the firm. The past performance of the
offered trading program is located on pages 13 and
14 of the disclosure document.
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.
Disclosure Statement
|
