The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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From: ggersh	10/13/2013 10:38:57 AM
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Insider trading being ok is always buried somewhere. -nfg- bloomberg.com Side Bets High fees and black boxes are just part of the story. Some funds also allow their managers to make undisclosed side bets by trading ahead of or opposite to the fund’s trades. Chicago-based Grant Park Futures Fund LP, which is marketed by Zurich-based UBS AG (UBSN), says on page 90 of a 180-page, April 2013 prospectus that David Kavanagh, president of the $660.9 million fund’s general partner, may place such personal trades. “Mr. Kavanagh may even be the other party to a trade entered into by Grant Park,” it says. The Grant Park Futures Fund reported a net investor loss of $68.6 million during the decade ended on Dec. 31, after fees and commissions of $427.7 million. Kavanagh, president of Dearborn Capital Management LLC, which manages Grant Park, didn’t respond to requests for comment.

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