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Trading Strategy: Discretionary / Fundamental
Program Description: Old School Program, a speculative futures trading program currently offered by HPX Financial, LLC. This program is generally more aggressive than the HPX Ag Program. All performance has been reduced to reflect the effect of a 2% per annum management fee and a 20% incentive fee, assessed on net trading profits above a high-water mark. Head Trader is Harvey Paffenroth, started out on the CME in 1971 running tickets, placing orders and bought his membership shortly thereafter. Harvey started off trading pork bellies, and even worked on the physical side of the market taking delivery of pork bellies, storing and selling them later. He continued to both trade on the CME in the pits and continued his hedging business until the end of the pork bellies contract, by which time he HPX has already transitioned into lean hogs and cattle products, which are now live cattle and feeder cattle.
Investment Information
Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2019 | 0.12% | -0.22% | -1.29% | -0.56% | 0.73% | -0.02% | -0.03% | 0.00% | -0.36% | -0.10% | 1.32% | -0.03% |
2020 | 1.60% | 0.41% | 1.10% | 0.06% | 0.43% | 0.58% | 0.12% | 0.05% | -2.24% | -0.02% | -0.10% | 0.02% |
2021 | 0.48% | -0.50% | 0.13% | 0.54% | 1.10% | 0.00% | 0.53% | 0.03% | 0.02% | -0.12% | 0.94% | -0.09% |
2022 | 0.05% | -0.01% | -0.24% | -0.36% | 0.32% | -0.01% | 0.00% | -0.15% | -0.01% | -0.01% | 0.16% | 0.22% |
2023 | 0.63% | -0.13% | -0.02% | -0.01% | 0.55% | 0.09% | 0.14% | 0.33% | 0.29% | -0.02% | 0.12% | -0.05% |
2024 | 0.17% | 0.10% | 0.05% |
2019 | 2020 | 2021 | 2022 | 2023 | 2024 YTD | |
---|---|---|---|---|---|---|
ROR | -0.45% | 1.97% | 3.10% | -0.06% | 1.93% | 0.32% |
Max DD | -2.06% | -2.36% | -0.50% | -0.62% | -0.16% | 0.00% |
+++ Accounting Notes: Includes the performance of all customer accounts traded pursuant to the Old School program. These accounts are managed by the Advisor beginning January 1, 2013. Prior to January 1, 2013, they were managed by the Advisor's principal in his capacity as a floor broker.
An Important Note on the Start Date and End Dates of this Report. If the Start Date of this Report Predates the Inception of the Program, the Maximum Drawdown from Inception may be larger than indicated in this report. The Inception of this program is Jun 2006
*** Historical Drawdowns & Recoveries: The drawdown begins in the month listed as start. The length in months of the drawdown is listed under length. The recovery begins in the following month, and the length of the recovery period is listed under recovery. The date listed as end is the month that the program recovered from the drawdown.
Statistical Notes
1. Peak to Valley Drawdown ("Maximum Drawdown") is the worst drawdown % loss over the period of
2019-01-31 to 2024-03-31
2. The Compound Annual ROR is the average return of an investment over a number of years. It smoothes out returns by assuming constant growth.
3. Downside Deviation uses a 5% Minimum Acceptable ROR
4. Sharpe Ratio uses a 1% Risk Free ROR
5. Sortino Ratio uses a 5% Minimum Acceptable ROR
6. Calmar Ratio Uses last 36 months of Data
7. Sterling Ratio uses last 36 months of Data
8. The hypothetical growth of $1,000 VAMI
ROR = Rate of Return
AG CTA Index: The Autumn Gold CTA Index is a Non-Investable Index comprised of the client performance of all CTA programs included in the AG database and does not represent the complete universe of CTAs. CTA programs with proprietary performance are not included. Monthly numbers are updated until 45 days after the end of the month. Investors should note that it is not possible to invest in this index.
SP 500 TR: The S&P 500 indices are designed to reflect all sectors of the U.S. equity markets. The S&P 500 includes 500 blue chip, large cap stocks, which together represent about 75% of the total U.S. equities market. Companies eligible for addition to the S&P 500 have market capitalization of at least US$3.5 billion. The TR Index accounts for the reinvestment of dividends.
This report has been prepared from information provided by the Trader and is believed to be reliable. This report should be read in conjunction with the Trader's Disclosure Document or Fund's Offering Document.