Risk Statement

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RISK STATEMENT

The risk of loss in trading commodity interests can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial situation.

Prospective clients should consider trading commodity interests to be a speculative investment, as it is not intended to be a complete investment program. Only persons who are able to bear the risk of the loss of their entire investment should consider trading commodity interests.

The high degree of leverage that is often obtainable in trading commodity interests can work against you as well as for you. The use of leverage can lead to large losses as well as gains.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

The regulations of the Commodity Futures Trading Commission (CFTC) require Commodity Trading Advisors (CTA) deliver a disclosure document for the offered program to a prospective client prior to or when it delivers the advisory agreement to the prospective client. The disclosure document must include, but not be limited to, a risk disclosure statement, a discussion of principal risk factors, a description of the trading program, a discussion of all fees, disclosure of conflicts of interests, and performance of the offered program. Disclosure documents are available at no charge by electronic download from this website, or upon request, via standard postal delivery of a hard copy. The prospective client should obtain and fully understand the disclosure document to determine if trading commodity interests is appropriate in light of your financial situation.

The Commodity Futures Trading Commission has not passed upon the merits of participating in this trading program nor has the commission passed on the adequacy or accuracy of this disclosure document.