November 15, 2013
JPD Enterprises, Inc. has voluntarily ceased trading operations as of October 2013.
For over a quarter of a century, JPD’s trading provided clients with a very good and profitable alternative to traditional investments. The vast majority of our clients – and virtually all of them who were involved for a long time – made a lot of money. That is the most important thing, and something I am very happy about.
Our trading has always been technical in nature. We traded the way the markets and data dictated that we should; we only thought about the reasons for those market moves as a matter of curiosity, believing that the fundamentals are unknowable and not necessarily immediately correlated to the market price in any practical way. We limited the amount of money we would commit to any trade, acknowledging that adverse price movement was an indication that something was not quite right.
Similarly, we had a limit of three losing years in a row as an indication that something was not quite right. As we looked at our third consecutive losing year, it was obvious that, for whatever reason, what we were doing simply was not working. What the reasons are for that change are at this time, and maybe forever, unknowable. The theories are many: too much government interference, too many people trading too similarly, the decrease in confidence in the futures industry due to the MF Global theft and fraud, the impact of high velocity trading systems, the lack of trends, the uncertainty of the economic future, etc. We may never know the answer, but we do know our trading approach ceased to be profitable.
JPD always, at every turn, in every decision, put its clients’ interests first. Indeed, that is the only way any business could ever function successfully for almost 28 years. In accordance with that philosophy, it was simply no longer prudent to take the risks we were taking with our partners’ funds. Accordingly, we have made the difficult decision to close the business.
There are no words that can express my appreciation to those people – investors, colleagues and friends – who were along for the ride in one way or another at any point over the past 28 years.
James P. DiMaria
JPD Enterprises, Inc.