Remembering 9/11

As we approach the ten year anniversary of the 9/11 attacks, the mood in Attain’s office, the financial blogosphere, and much of the world is largely reflective. It’s strange to think that a decade has passed since that date was indelibly etched into our collective memory, though a stroll down any Chicago block today, where the sidewalks are dotted with additional uniformed officers as a measure of heightened security – and a larger than life American flag hung from a few buildings, serves as a poignant reminder of the event’s enduring affects.

Those in the financial industry share a unique experience from that day, where professional concerns over the quantitative impacts of the event intermixed with worries that another financial landmark (such as the CME or CBOT) could be targeted next. Several of the people in our office were working in the exchanges on that Tuesday morning, with emotions of fear, sorrow and panic colliding in the pits. Attain Senior Vice-President of Portfolio Construction Jeff Eizenberg was one of those in the Chicago Board of Trade.

 “They were trying to evacuate,” he recalled. “They were yelling at us to get out of the building as we scrambled to get out our positions in the plummeting markets. There was a moment of panic, and then a moment of concern over whether to handle our orders or get out alive. Luckily we were able to do both.”

The unprecedented closing of the exchanges for six days following the attacks and subsequent downward spiral in the markets set off an onslaught of research and writing on the aftermath, replete with considerations of alternate scenarios. What would have happened if the attacks had been launched in the heart of the trading day?  Losses of 10% or more without any chance of getting out are what we generally fear.

Though it is easy to dwell on the tragedy of the event, through the darkness, rays of light shine through. Those spectacles of depravity spawned testaments to the goodness in people, as neighbors joined in solidarity. In our corner of the world. Cantor Fitzgerald, the financial services firm that lost 2/3 of their staff in the attacks on the World Trade Center, has not only survived- they’ve thrived.  To honor those who were lost, they started a college fund for the children of their fallen co-workers (see more here)

Another of our favorite stories revolves around Gander, Newfoundland in Canada – which took in 1000s of stranded travelers into their homes, feeding them, clothing them, sharing showers and beds. View the story here.

It’s been a decade, but most of us will never forget where we were when those towers fell. Let us also remember those rays of light in the storm, and the resiliency we are capable of as a people, as we move forward.

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Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.

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See the full terms of use and risk disclaimer here.

Disclaimer
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.

Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.

Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.

Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.

Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.

RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.

See the full terms of use and risk disclaimer here.

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