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Raithel Investments
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Access This Page Directly:
http://raithel.altavra.com
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Program Descriptions
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The Target Volatility Program
Since January 2000 this program has utilized stock
index futures and options written on them
exclusively. The
program was modified in August 2002 to reduce the
program’s volatility through the sale of options
somewhat more distant from the future’s price
than previously.
The program’s methodology is a proprietary,
systematic, dynamic net
(most option positions are hedged) option strangle
selling program designed to capture premium decay as
indicated above. The program is technical as opposed
to fundamental in nature, and is fully quantified
utilizing a number of parameters and algorithms.
These include, among others, various volatility
measures of the volatility of the S&P 500 index
itself, methodology used to determine which options
to sell, what quantity and expiration month to
utilize, and other quantitative determinants,
including the determination of exits when necessary
whenever a position moves adversely.
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Management Information
John D. Raithel has been President of Raithel
Investments, Inc. since its inception in June, 1993
and has been a Principal and Associated Person of
Raithel Investments, Inc. since August 20, 1993. He
also has been President and a Principal of Raithel
White & Associates, Inc. since its founding in June,
1995. Raithel White & Associates, Inc. is a
corporation that became registered as a CTA and a
CPO in August, 1995. These registrations were
terminated in January, 1998. In addition, from June,
1993 to April, 1995 he was employed by the Pilgrim
Group, a mutual fund company based in Los Angeles,
initially serving in the capacity of Sr. Vice
President and Head of Fixed Income and then
beginning in October, 1994 as Sr. Vice President and
Chief Investment Officer. Prior to this, Mr. Raithel
was Vice President and Director of Fixed Income at
First Union National Bank (now Wachovia) in
Charlotte, North Carolina from 4/85 to 4/93. From
8/81 to 4/85, he was employed by Chase Investors
Management Corporation in New York, New York (now
UBS Asset Management) as Vice President and Sr.
Portfolio Manager in the Options and Futures Group.
From 2/69 to 8/81, he worked for General American
Life Insurance Company in St. Louis, Missouri in the
Investment Department.
John D. Raithel received a B.A. (Math) and an M.B.A.
(Finance and Statistics) from Texas Christian
University. He became a C.F.A. (Chartered Financial
Analyst) in 1975 and an A.S.A. (Associate of the
Society of Actuaries) in 1980.
He has also passed the following NASD examinations:
3, 7, 24, 30, 63, and 65.
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
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