Quantocracy’s Daily Wrap for 07/07/2018

Seasonal fluctuations are evident for many commodity prices. However, their exact size can be quite uncertain. Hence, seasons affect commodity futures curves in two ways. First, they bias the expected futures price of a specific expiry month relative that of other months. Second, their uncertainty is an independent source of risk that affects the overall risk premia priced into the curve.

In a provocative new book, Lost in Math: How Beauty Leads Physics Astray, quantum physicist Sabine Hossenfelder argues that the scientific world in general, and the field of physics in particular, has repeatedly clung to notions that have been rejected by experimental evidence, or has pursued theories far beyond what can be tested by experimentation, mainly because these theories and the

June 2018 Trend Following: UP +0.48% / YTD: -6.01% Please find this months report of the Wisdom State of Trend Following. Performance is hypothetical. Chart for June: And the 12-month chart: Below are the summary stats: Horizon Return Ann. Vol. Last month 0.48% 13.45% Year To Date -6.01% 15.36% Last 12 months -5.23% 13.21% Last calendar year (2017) -16.27% 10.94% Since Index Launch (08-13)