RS Advisories: THE END GAME- By Stan Drukenmiller

Thursday, June 09, 2016

THE END GAME- By Stan Drukenmiller

https://www.docdroid.net/i3f8uVF/stanley-druckenmiller-the-end-game.pdf.html

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1. Terms & Conditions of Use – General
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5. No Recommendation
Futures trading involves substantial risk and is not appropriate for all investors. Please read this complete disclaimer for more information regarding the risks of option trading. Information provided on the site, including daily price data, is believed to be reliable when posted, but there is no guarantee that it is accurate or complete or current at all times.

6. Risks of Futures Trading
In deciding whether or not you wish to become involved in futures trading with a futures broker, you should be aware you could both gain and lose large amounts of money. Without limitation, you risk losing money because:
(a) You could lose all the margin funds you deposit with the futures broker to establish or maintain a futures position and lose further amounts as described in paragraph (c) below.
(b) If the market moves against your position, you may be required, at short notice, to deposit with the futures broker further moneys as margin in order to maintain your position. Those additional funds may be substantial. If you fail to provide those additional funds within the required time your position may be liquidated. You will be liable for any shortfall in your account resulting from that liquidation.
(c) You could lose all monies deposited with the futures broker, and in addition be required to pay the futures broker further funds representing losses and other fees on your open and closed positions.
(d) Under certain conditions, it could become difficult or impossible for you to liquidate or close a position (this can, for example, happen when there is significant change in prices over a short period).
(e) The placing of contingent orders (such as a “stop-loss” order) may not always limit your losses to the amounts that you may want. Market conditions may make it impossible to execute such orders.
(f) The high degree of leverage that is obtainable in futures trading with the futures broker because of small margin requirements can work against you as well as for you. The use of leverage can lead to large losses as well as large gains.
(g) Futures and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading futures and options on futures. Only risk capital should be used.
(h) No representation is being made that futures and options on futures trading is appropriate for everyone or that it should be viewed as an alternative, replacement or supplemental form of income.
You should discuss these matters further with your broker and other financial advisor prior to commencing any trading.

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8 Disclosures
All site content shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.

This site/blog contains the current opinions of the author but not necessarily those of RSA. The author’s opinions are subject to change without notice. This site is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period.

Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. All material presented herein is believed to be reliable but we cannot attest to its accuracy. The information contained herein (including historical prices or values) has been obtained from sources that RSADVISORIES (RSA) considers to be reliable; however, RSA makes no representation as to, or accepts any responsibility or liability for, the accuracy or completeness of the information contained herein or any decision made or action taken by you or any third party in reliance upon the data. Some results are derived using historical estimations from available data.

Investment recommendations may change and readers are urged to check with tax advisors before making any investment decisions. Opinions expressed in these reports may change without prior notice. This memorandum is based on information available to the public. No representation is made that it is accurate or complete. This memorandum is not an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned. The investments discussed on this site/blog may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is not necessarily a guide to future performance. The price or value of the investments to which this report relates, either directly or indirectly, may fall or rise against the interest of investors. All prices and yields contained in this report are subject to change without notice. This information is based on hypothetical assumptions and is intended for illustrative purposes only. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.

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Thursday, June 09, 2016

THE END GAME- By Stan Drukenmiller

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