By Mark Shore
Chief Research Officer, Shore Capital Research LLC
Adjunct Professor, DePaul University

Since 2014 when we published “P2P Lending for Institutional Investors and Wealth Managers: An Overview” about investing in peer-to-peer lending, the industry has continued to grow and evolve, so the timing seemed appropriate to provide an updated overview of the industry.

Not only has the lending volume increased, but the types of loans have expanded to include consumer loans, small business loans, student loans, auto loans and real estate loans.

Topics of the paper include:

• MPL Lending Industry Overview
• Growth of Loan Origination
• Evolution of Industry Infrastructure
• MPL: Fixed Income or Alternative Investment?
• Accessing the Asset Class
• How does P2P/MPL behave in a rising interest rate environment?
• Risk and Return of MPL

To download the paper click here​

Follow Mark Shore on Twitter, Facebook and Linkedin


Copyright ©2017. Contact Mark Shore for permission for republication at info@shorecapmgmt.com Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com 
​
Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.
​
Past performance is not necessarily indicative of future results.  The opinions expressed are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

​

Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops (see full biography on page 18).

Part 1: Utilizing a European volatility index for Pan-European volatility 
 
Part 2: VSTOXX®/VIX volatility spread behavior during recent volatility events  

Part 3: Introduction of CFTC-certified options on VSTOXX® Futures 

To download the paper click here

Follow Mark Shore on Twitter, Facebook and Linkedin


Copyright ©2017 Mark Shore. Contact Mark Shore for permission for republication at info@shorecapmgmt.com Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com 
​
Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.
​
Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

CTAExpo LLC Presents:
CTA Expo / Emerging Manager Forum in NYC 2017

The New York event on April 27, 2017 is a combination of Emerging Manager Forum and CTA Expo. The Expo / Forum is a one day conference consisting of speakers and panels combined with extensive networking opportunities. Attendees can attend any of the presentations throughout the day or decide to talk and network with other industry professionals.

Topics include:
Presentation Of The CTA Expo / Emerging Manager Forum Lifetime Achievement Award
Recipient:
Emerging Manager Selection... An Investors Prospective
Alternative Shark Tank
Cyber Security... It's Effect On Investors, Managers And Global Markets
Opportunities Overseas For Emerging Managers And Emerging Manager Investors
Becoming An Industry Thought Leader... What Steps Do I Take
Financial Technology... The Future For Investors And Trades
Operational Issues And Client Services... What Investors Look For And What Managers Should Provide
 
Speakers Include:
Bucky Isaacson & Frank Pusateri (CTAExpo LLC)
Dermot Butler
Julie DeMatteo (Managing Partner, RJ Oasis)
Bobby Schwartz (Managing Partner, RCM Alternatives)
Michael Rose (Managing Partner, Rose Capital Advisors)
Marc Rosenberg (Founder, Quality Management Consultants)
Bruce Frumerman (Founder & CEO, Frumerman & Nemeth LLC.)
Michael Dubin (Senior Advisor, Silvercrest Asset Management)
Brett Horton (Consultant)
Ole Rollag (Managing Principal, Murano Systems)
Ronald Honka (Partner in Charge - Financial Services, Grassi & Co.)
Craig Holliday (Abbey Consulting)
Carlos Collazo (Principal Advisor, Cyber Intelligence & Business)
Stephen Klein (President, Abington)
Alex Lenhart (Director of US and Europe Sales, SGX)
Bob Swarup PhD (Principal, Camdor Global)
Lynette Lim ( CEO, Phillip Capital Inc.)
Tracy Williams (CEO, Olmstead Williams Communications)
Rumi Morales (Executive Director, CME Ventures)
Brad Janitz (Manager Futures Division, Midland IRA)
Keith Willis (Senior Manager, Trident Fund Services)
Rainford Knight PhD (Managing Partner, Florida Institute of Finance)
Mark Ruddy (Principal, Ruddy Law Office, LLC.)
John Hynes (CEO, HedgeFacts)
 
Date: Thursday April 27th, 2017
Time: 8am to 4:30pm
Venue: Stewart Hotel, 371 Seventh Ave (at 31st Street) New York City, NY
 
There will be a cocktail reception immediately following the event
 
For more information and registration click here
 
About CTA Expo:
The CTA Expo and Emerging Manager Forum conferences were started in 2008 to help Professional Investors, Allocators, Capital Raisers, Institutions, and RIA’s meet and identify new and emerging talent in the Hedge Fund, CTA, FX, and Alternative Management space to promote alternative investments. We now offer events in New York, Chicago, and Miami.

On February 1st 2017, Eurex Exchange will introduce a new CFTC-certified options on VSTOXX® Futures contract (OVS2). The VSTOXX® Futures volatility index will be the underlying market for the new options contract. OVS2 will have eight consecutive expiring months. The underlying equity market for VSTOXX® Futures is the EURO STOXX 50® Index. 

This article discusses the following questions:

• What are some recent salient moments of volatility events causing increased volume of VSTOXX® Futures?
• Why replace VSTOXX® options with options on VSTOXX® Futures?
• What are the key benefits of options on VSTOXX® Futures?
• What are some potential ideas to think about regarding trading OVS2?

Click here to read the article

​
Follow Mark Shore on Twitter, Facebook and Linkedin


Copyright ©2016 Mark Shore. Contact Mark Shore for permission for republication at info@shorecapmgmt.com Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com 
​
Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.
​
Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

Mark Shore, Chief Research Officer of Shore Capital Research LLC and Adjunct Professor at DePaul University in Chicago was a special guest on Benzinga's PreMarket Prep broadcast, (http://premarket.benzinga.com/pre-market-show/) the morning of December 28, 2016 with hosts Joel Elconin and Dennis Dick

​The interview starts about 39 minutes into the broadcast on youtube (above) or 34 mins on soundcloud 

Topics discussed include: hedge funds, managed futures, volatility, VIX, VSTOXX and VSTOXX / VIX spread

Follow Mark Shore on Twitter, Facebook and Linkedin

www.shorecapmgmt.com 
​
​
Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

By ​Mark Shore
In past articles I’ve discussed the various behaviors of the VSTOXX®/VIX spread. This article follows my last article “Utilizing a European volatility index for Pan-European volatility” examining VSTOXX® behavior in recent volatility events relative to various European equity indexes.

The Brexit election and the U.S. election are now behind us. Several European elections are on the horizon in 2017. And there doesn’t seem to be a shortage of ideas being discussed for potential future macro volatility events. This article examines the behavior of the VSTOXX®/VIX spread during recent volatility events. Could the understanding of the spread’s behavior during past volatility events offer some insight for future events?

Liquidity is always READ MORE
​
Follow Mark Shore on Twitter, Facebook and Linkedin
Copyright ©2016 Mark Shore. Contact Mark Shore for permission for republication at info@shorecapmgmt.com Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com 
​
Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.
​
Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

DePaul University’s Driehaus College of Business, College of Computing and Digital Media & College of Law Present:

The Speed of Change: The Rapidly Evolving Landscape in Cyber Threat, Compliance and Protection
 
The cyber security landscape is rapidly changing in a dynamic interplay of threat, compliance, and protection. Just as we figure out how to address one risk, a new one takes its place. There is no such thing as a static state in cyber risk.
 
New threats—both individual and state-sponsored—bring new compliance and protection measures in an accelerating cycle of change.
As we enter an increasingly connected world, the Internet of Things has become a reality. New technologies bring new vulnerabilities. With these new vulnerabilities come new regulations and compliance issues, as well as a race to proactively protect users.
 
Behavior is also constantly shifting. A generation has now grown up completely at home with these new technologies and thus has a very different perspective towards privacy and protection.
These are just a few of the topics we’ll discuss in our three panels addressing the Speed of Change in Threat, Compliance, and Protection.

Attendees are Eligible for 8 CISA credits & 6.4 Actuarial CPD credits
CyberMonday Sale: promo code "shore" to receive a $25 discount
 
Topics Include:
-The Speed of Change in Cyber Threats
-Beyond Compliance: Keeping Up with the Speed of Change
-Protection: Proactive and Ahead of the Curve

Speakers Include:
-Opening Keynote: Michael Echols
Executive Director/ CEO International Association of Certified ISAOs; Former Director Cyber Joint Program Management, U.S. Dept. of Homeland Security
Bryan O.C. Wallace, WallScott Solutions
-Eric Brelsford, FBI
-Matt Danielak, Willis Towers Watson
-Bob Eigenbauer, CTH Technologies
-Mia Boom, Allstate
-Brenda Callaway, Blue Cross Blue Shield
-Danyetta Flemming, Covenant Security Solutions
-Dennis Gallitano, Gallitano & O’Connor LLP
-Jacob Furst, DePaul University
-Brian Kovick, Mercy Home for Boys and Girls
-Liz Kovick, Allstate
-Closing Keynote: Jeff Wright
Vice President & Chief Information Security Officer for Allstate Insurance Company
 
Date: Tuesday November 29, 2016
Time: 8:30 – 5pm
Venue: DePaul University Loop Campus, DePaul Center, 1 E Jackson Blvd, Chicago, IL 60604
Reception to follow event
 
For more information and registration click here
 

In past articles, I’ve discussed the negative correlation between the VSTOXX® Volatility index and the EURO STOXX 50® Index and how the volatility index tends to rally when equities decline (downside volatility).

The recent passing of the Brexit vote on 23 June 2016 introduced immediate uncertainty and downside volatility to the global capital markets. The results of several upcoming European elections could introduce more uncertainty and volatility into the capital markets. According to Bloomberg News, 40 percent of the EU economy will be voting in 2017.[i]

Market reactions to the Brexit vote are still being READ MORE


Follow Mark Shore on Twitter, Facebook and Linkedin

Copyright ©2016 Mark Shore. Contact Mark Shore for permission for republication at info@shorecapmgmt.com Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com 

Mark Shore is also an Adjunct Professor at DePaul University’s Kellstadt Graduate School of Business, where he teaches the only known accredited managed futures course in the country. He is also a Board Member of the Arditti Center for Risk Management at DePaul University.

Past performance is not necessarily indicative of future results. There is risk of loss when investing in futures and options. Futures and options can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone. The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

The Chicago Chapter of QWAFAFEW Presents:

Prediction Markets: In Elections and the Corporations of the Future  

Chicago QWAFAFEW and the IIT Stuart School's Center for Financial Innovation will present a special election week event on prediction markets. The speakers will be Koleman Stumpf, Professsor of Economics at the Univeristy of Kanasas School of Business, and Adam Siegel, CEO and Co-Founder of Cultivate Labs.

Prediction markets allow realtime information and belief aggregation. The markets for the U.S. presidential elections offer a striking test of prediction markets and their potential limitations, but perhaps only the barest hint of their future applications. 

Koleman Stumpf will address the following questions:

• What are prediction markets and what is the evidence that they work?
• What do we know about political prediction markets?
• How do prediction markets compare to other forecasting mechanisms like raw or smoothed polls?
• Have there been big political prediction market failures?
• How did prediction markets fare during the 2016 election?

Adam Siegel will address the following topics:

• How information overload, technological disruption, and a changing global workforce are forcing fundamental changes in corporate structure
• An overview of how companies are currently using crowdsourced forecasting
• A case study on Shell and how they’re using prediction markets in their Global Exploration group
• How Cultivate Labs expects companies to use prediction markets in the future

Date: Thursday, Nov 10th, 2016
Venue: IIT Sturart School of Business, 565 West Adams Street, Chicago, IL Time: Doors will open at 5:00 pm for conversation, light food and drinks. The event will start at 5:30 pm and officially end at 7:00.

Speaker biographies:
Koleman Strumpf is a Professor of Economics at the University of Kansas School of Business and prior to that at the University of North Carolina at Chapel Hill.

He is currently associate editor of the Journal of Prediction Markets. Koleman's research spans a variety of applied microeconomics topics including prediction markets, file sharing, tax evasion, and health economics and has been published in journals such as the American Economic Review, the Journal of Political Economy, and the Journal of Economic Perspectives.

His work has been featured in the New York Times, Wall Street Journal, the Economist, NPR, and ABC News. His undergraduate degree is from Stanford University and he has a PhD is from MIT. 

Adam Siegel is the CEO and Co-Founder of Cultivate Labs. He has been working in the crowdsourcing space for 10 years since starting his first company, Inkling Inc., in 2006. Inkling, funded by Y Combinator, focused on crowdsourced forecasting using prediction markets. Cultivate Labs recently acquired Inkling to focus on internal crowdsourcing as a way to optimize the insights and knowledge of current teams.

Before becoming an entrepreneur, Adam spent a decade as a management and innovation consultant at Accenture in the Accenture Technology Labs. Adam lives in Chicago, IL and loves spending as much time as possible in cafes drinking overpriced coffee and reading the paper, trailing his 3 year old daughter helplessly as she wreaks havoc, or escaping Chicago to go hiking and camping.

Admission is $15 in advance (or $20 at the door) with light food and drinks provided. Students and unemployed $10. 
TicketLeap (at chicagoqwafafew.ticketleap.com/election-special.)

QWAFAFEW is an informal organization for discussions of quantitative investment topics. QWAFAFEW has active chapters in Chicago, Boston, Hartford, New York, Denver, Princeton, and San Francisco.
*********************************************************************
Current Chicago QWAFAFEW Steering Committee members: 

• Adam Cohen, Zacks Investment Research, Inc.
• Barry Feldman, IMCI, LLC
• Ben Johnson, Morningstar, Inc.
• Mark Shore, Shore Capital Research and DePaul University
• Matthew Moran, Chicago Board Options Exchange
• Ram Ben-David, Eckhardt Trading Company

Recent emeritus members: 

• Cindy Tsai, Environment Envisioned, Inc. 
• Peter Carl, William Blair and Company
• Steve Greiner, Charles Schwab

Follow Chicago QWAFAFEW:
Twitter: https://twitter.com/qwafchi    

Emerging Manager Forum Miami 2016

The Emerging Manager Forum provides emerging hedge funds and CTAs from Europe, the U.S. and Latin America the opportunity to network and exchange ideas with capital sources from those regions looking for new sources of alpha for their portfolios. EMF is designed with significant networking time for participants and sessions with topics that will benefit capital sources and managers.

TOPICS INCLUDE:
The Outlook For Alternatives…What Impact Investors and Managers Should Expect As A Result Of Current Global Events

Alternative Funds…What Lessons Have We Learned In The Last Thirty Years

ALTERNATIVE SHARK TANK

Platforms and Data Bases…An Overview For Investors and Managers

Using the Media…How to Out-Market Your Competition and Increase Your PR Visibility

A Guide to Portfolio Construction and Allocation for Investors and Managers

Operational and Regulatory Issues Facing Managers and How they Impact The Investment Decision

SPEAKERS INCLUDE:
Bucky Isaacson, Partner (CTA Expo, LLC.)
Frank Pusateri, Partner (CTA Expo, LLC.)
Dr. Bob Swarup (Principal – Camdor Global)
Michael Manning (President – Stratton Capital Management LTD)
Bryan Johnson (Managing Partner - Johnson and Company)
Esther Goodman (Managing Director – Conyers Group)
Ronald L. Honka, Sr., CPA, CGMA (Partner in Charge, Financial Services – Grassi & Co.)
Michael Dubin (Managing Director – Silvercrest Asset Management, LLC)
Ted Parkhill (CEO & Founder – Incline Investment Management, LLC)
Anthony Diesen (President – CTA Research)
Julie DeMatteo (Managing Director – RJ Obrien)
Amy Bensted (Head of Hedge Fund Products - Prequin)
David Young (President – Gemini Alternative Funds, LLC)
Sol Waksman (President – Barclay Hedge)
Mark De Souza (CIO – Cohesion Partners Inc)
Tracy Olmstead Williams (Founder – Olmstead Williams Communications) 
Matthias Knab (Founder – Opalesque LTD)
Bobby Schwartz (Managing Partner – RCM Alternatives)
Michael J. Rose (Managing Partner – Rose Capital Advisors)
Ole Rollag (Managing Principal – Murano Systems)
Alan Snyder (Managing Partner – Shinnecock)
Michael Corcelli (Chairman – FLAIA)
Rainford Knight PhD (Managing Partner – Florida Institute of Finance)
Michael Brice (Principal – B W Cyber Services)
Michael J. Liccar (Liccar CPA)
Francis Tanczos (Crow & Cushing)

Date: December 8, 2016
Venue: NOBU Hotel, Eden Roc Hotel Miami
Time: 8am to 4:30pm (Cocktail reception immediately following conference)
 
For more information and registration click here
 
About: The CTA Expo and Emerging Manager Forum conferences were started in 2008 to help Professional Investors, Allocators, Capital Raisers, Institutions, and RIA’s meet and identify new and emerging talent in the Hedge Fund, CTA, FX, and Alternative Management space to promote alternative investments. We now offer events in New York, Chicago, and Miami.