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Commitment of Traders gives a snapshot view of how Leveraged Funds and Managed Money are positioned in US Futures and commodity markets. These are typically hedge funds, CTAs, CPOs and various types of money managers. 
Professional money managers in the Managed Futures space are known by the regulatory designation of Commodity Trading Advisors (CTAs).
Futures has the advantage of imbedded leverage — you are posting a small percentage of the value of a contract for margin instead of actually borrowing to get more of something.
Dever included several insightful and amusing anecdotes regarding the irrationality of traditional investments and flawed analysis. My favorite — one I have heard before — is how people would not invest with his commodity fund because commodities are risky.
Diversification is the one true “Free Lunch” of investing. Of course, by definition, a diversified portfolio will underperform the best performing constituents of a portfolio.
There are four futures exchanges in China that list 31 commodity futures contracts and one financial futures contract. All major commodities, some of which have the highest markets share globally, are listed except for crude oil.
Statistics do not reveal risk. As I state in the summary for this myth, “risk can only be determined by an understanding and evaluation of the return drivers underlying any given trading strategy.”
A commentary about an article that ran in the Financial Times earlier this month.