In what only can be described as an act of supreme chutzpah or proof that Chang had become completely separated from reality; he then sent out a marketing letter to brokers encouraging them to raise assets for ACE.
The problem is not with managed futures, which have posted great returns, even (especially) during stock market meltdowns, but with the financial industry that wraps these otherwise useful products in a high fee wrapper
Much of Bob Rice's "The Alternative Answer" will convey familiar information to those who have followed the quest for alpha over the years. That’s because the book isn’t written for the cognoscenti. This is a book-length sales pitch.