Altegris Clearing Solutions Goldman Management, Inc. Goldman Management Stock Index Futures *QEP*
Monthly Performance (%)
Date Range: 12/11 - 07/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 1.40 3.10 -0.04 0.80 1.00 0.40 1.60 8.53
2016 -3.90 -0.10 4.10 0.20 1.40 0.10 3.00 0.00 -0.10 -1.60 3.00 1.50 7.59
2015 -3.15 5.17 -1.35 0.75 1.01 -1.68 1.65 -4.34 -1.56 4.29 -0.10 -1.40 -1.14
2014 -3.95 4.76 0.48 0.19 1.34 1.41 -1.20 3.21 -1.07 1.80 2.05 -0.33 8.74
2013 3.93 1.12 3.15 1.22 1.75 -1.50 4.35 -2.75 2.67 4.08 2.77 2.12 25.16
2012 1.73 2.80 2.10 -0.53 -5.10 1.72 0.30 1.02 1.71 -1.40 0.20 0.60 5.01
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

Using quantitative analysis hundreds of indicators and several dozen models are employed. Many of these indicators have been tested though market cycles dating back to the early 1900’s and include both technical and fundamental analysis. Alignments in the groups of indicators at inflection points determine the direction and the potential magnitude of the outcome to stock prices. Categories in which these indicators fall into are numerous and although not exclusive are as follows: the stock market structure, momentum, overbought and oversold, market sentiment and contrarian tools, valuations, monetary and macro factors. Each of these categories has different forecasting values and timeliness. Combining groups of indicators into an overlay can enhance the reliability of a signal. The models and indicators are also used to identify in advance the market climate likely to be encountered, whether trending or range bound, enabling the principle objective of GMI which is to profit from all types of markets while using strict control measures to minimize risk. Analysis and research to improve systems and strategies is an ongoing process. There is also a veto power on the indicators and models, which may be implemented during unique circumstances to potentially reduce risk.

Performance Statistics
Date Range: 12/11 - 07/17
  Program SP500 TR Altegris 40
Total Return 64.98% 123.52% 1.56%
Annualized Return 9.38% 15.25% 0.27%
Annualized Std. Deviation 7.68% 9.75% 8.39%
Correlation 0.97 0.07
Sharpe Ratio (rf=2.5%) 0.90 1.31 -0.27
Worst Month -5.10% -6.03% -5.20%
Date of Worst Month 05/2012 08/2015 06/2015
Worst Drawdown -7.18% -8.35% -12.77%
Date of Worst Drawdown 5/15 - 2/16 7/15 - 9/15 3/15 - 6/17
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 12/11 - 07/17
Year or YTD Program SP500 TR Altegris 40
2017 8.53 11.60 -3.53
2016 7.59 11.98 -3.13
2015 -1.14 1.41 0.09
2014 8.74 13.69 15.75
2013 25.16 32.41 -2.45
2012 5.01 15.98 -4.75
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 12/11 - 07/17
Date: 7/31/2017
Perf: $1,005.97 Date: 6/30/2017
Perf: $1,002.06 Date: 5/31/2017
Perf: $1,032.20 Date: 4/30/2017
Perf: $1,030.24 Date: 3/31/2017
Perf: $1,036.46 Date: 2/28/2017
Perf: $1,051.82 Date: 1/31/2017
Perf: $1,029.38 Date: 12/31/2016
Perf: $1,042.83 Date: 11/30/2016
Perf: $1,034.96 Date: 10/31/2016
Perf: $1,046.48 Date: 9/30/2016
Perf: $1,074.19 Date: 8/31/2016
Perf: $1,088.23 Date: 7/31/2016
Perf: $1,118.31 Date: 6/30/2016
Perf: $1,107.02 Date: 5/31/2016
Perf: $1,061.89 Date: 4/30/2016
Perf: $1,080.80 Date: 3/31/2016
Perf: $1,108.63 Date: 2/29/2016
Perf: $1,141.39 Date: 1/31/2016
Perf: $1,113.98 Date: 12/31/2015
Perf: $1,076.52 Date: 11/30/2015
Perf: $1,101.86 Date: 10/31/2015
Perf: $1,065.53 Date: 9/30/2015
Perf: $1,084.40 Date: 8/31/2015
Perf: $1,061.37 Date: 7/31/2015
Perf: $1,080.05 Date: 6/30/2015
Perf: $1,039.41 Date: 5/31/2015
Perf: $1,096.42 Date: 4/30/2015
Perf: $1,104.38 Date: 3/31/2015
Perf: $1,148.72 Date: 2/28/2015
Perf: $1,123.88 Date: 1/31/2015
Perf: $1,125.68 Date: 12/31/2014
Perf: $1,075.56 Date: 11/30/2014
Perf: $1,056.96 Date: 10/31/2014
Perf: $997.60 Date: 9/30/2014
Perf: $983.15 Date: 8/31/2014
Perf: $968.71 Date: 7/31/2014
Perf: $929.40 Date: 6/30/2014
Perf: $936.89 Date: 5/31/2014
Perf: $928.91 Date: 4/30/2014
Perf: $905.72 Date: 3/31/2014
Perf: $898.89 Date: 2/28/2014
Perf: $912.39 Date: 1/31/2014
Perf: $904.97 Date: 12/31/2013
Perf: $929.22 Date: 11/30/2013
Perf: $930.53 Date: 10/31/2013
Perf: $913.98 Date: 9/30/2013
Perf: $893.52 Date: 8/31/2013
Perf: $898.91 Date: 7/31/2013
Perf: $916.51 Date: 6/30/2013
Perf: $924.55 Date: 5/31/2013
Perf: $960.98 Date: 4/30/2013
Perf: $1,004.15 Date: 3/31/2013
Perf: $978.90 Date: 2/28/2013
Perf: $965.00 Date: 1/31/2013
Perf: $970.63 Date: 12/31/2012
Perf: $952.53 Date: 11/30/2012
Perf: $947.89 Date: 10/31/2012
Perf: $945.24 Date: 9/30/2012
Perf: $980.75 Date: 8/31/2012
Perf: $997.20 Date: 7/31/2012
Perf: $1,010.95 Date: 6/30/2012
Perf: $971.23 Date: 5/31/2012
Perf: $1,009.17 Date: 4/30/2012
Perf: $990.35 Date: 3/31/2012
Perf: $984.45 Date: 2/29/2012
Perf: $1,007.31 Date: 1/31/2012
Perf: $1,003.20 Date: 12/31/2011
Perf: $1,000.00 Date: 7/31/2017
Perf: $2,212.65 Date: 6/30/2017
Perf: $2,167.99 Date: 5/31/2017
Perf: $2,154.63 Date: 4/30/2017
Perf: $2,124.67 Date: 3/31/2017
Perf: $2,103.01 Date: 2/28/2017
Perf: $2,100.49 Date: 1/31/2017
Perf: $2,020.29 Date: 12/31/2016
Perf: $1,982.62 Date: 11/30/2016
Perf: $1,944.12 Date: 10/31/2016
Perf: $1,874.76 Date: 9/30/2016
Perf: $1,909.51 Date: 8/31/2016
Perf: $1,909.13 Date: 7/31/2016
Perf: $1,906.46 Date: 6/30/2016
Perf: $1,838.62 Date: 5/31/2016
Perf: $1,833.85 Date: 4/30/2016
Perf: $1,801.42 Date: 3/31/2016
Perf: $1,794.42 Date: 2/29/2016
Perf: $1,680.49 Date: 1/31/2016
Perf: $1,682.67 Date: 12/31/2015
Perf: $1,770.49 Date: 11/30/2015
Perf: $1,798.91 Date: 10/31/2015
Perf: $1,793.53 Date: 9/30/2015
Perf: $1,653.94 Date: 8/31/2015
Perf: $1,695.83 Date: 7/31/2015
Perf: $1,804.65 Date: 6/30/2015
Perf: $1,767.53 Date: 5/31/2015
Perf: $1,802.50 Date: 4/30/2015
Perf: $1,779.54 Date: 3/31/2015
Perf: $1,762.62 Date: 2/28/2015
Perf: $1,790.92 Date: 1/31/2015
Perf: $1,693.54 Date: 12/31/2014
Perf: $1,745.92 Date: 11/30/2014
Perf: $1,750.29 Date: 10/31/2014
Perf: $1,704.44 Date: 9/30/2014
Perf: $1,663.84 Date: 8/31/2014
Perf: $1,687.47 Date: 7/31/2014
Perf: $1,622.57 Date: 6/30/2014
Perf: $1,645.27 Date: 5/31/2014
Perf: $1,611.90 Date: 4/30/2014
Perf: $1,574.89 Date: 3/31/2014
Perf: $1,563.33 Date: 2/28/2014
Perf: $1,550.30 Date: 1/31/2014
Perf: $1,482.55 Date: 12/31/2013
Perf: $1,535.69 Date: 11/30/2013
Perf: $1,497.79 Date: 10/31/2013
Perf: $1,453.46 Date: 9/30/2013
Perf: $1,389.54 Date: 8/31/2013
Perf: $1,347.24 Date: 7/31/2013
Perf: $1,387.48 Date: 6/30/2013
Perf: $1,320.27 Date: 5/31/2013
Perf: $1,338.21 Date: 4/30/2013
Perf: $1,307.61 Date: 3/31/2013
Perf: $1,282.85 Date: 2/28/2013
Perf: $1,236.48 Date: 1/31/2013
Perf: $1,219.89 Date: 12/31/2012
Perf: $1,159.81 Date: 11/30/2012
Perf: $1,149.35 Date: 10/31/2012
Perf: $1,142.72 Date: 9/30/2012
Perf: $1,164.26 Date: 8/31/2012
Perf: $1,134.98 Date: 7/31/2012
Perf: $1,110.01 Date: 6/30/2012
Perf: $1,094.79 Date: 5/31/2012
Perf: $1,051.47 Date: 4/30/2012
Perf: $1,118.70 Date: 3/31/2012
Perf: $1,125.79 Date: 2/29/2012
Perf: $1,089.94 Date: 1/31/2012
Perf: $1,044.80 Date: 12/31/2011
Perf: $1,000.00 Date: 7/31/2017
Perf: $1,649.83 Date: 6/30/2017
Perf: $1,623.85 Date: 5/31/2017
Perf: $1,617.38 Date: 4/30/2017
Perf: $1,601.36 Date: 3/31/2017
Perf: $1,588.65 Date: 2/28/2017
Perf: $1,589.29 Date: 1/31/2017
Perf: $1,541.50 Date: 12/31/2016
Perf: $1,520.22 Date: 11/30/2016
Perf: $1,497.75 Date: 10/31/2016
Perf: $1,454.13 Date: 9/30/2016
Perf: $1,477.78 Date: 8/31/2016
Perf: $1,479.25 Date: 7/31/2016
Perf: $1,479.25 Date: 6/30/2016
Perf: $1,436.17 Date: 5/31/2016
Perf: $1,434.73 Date: 4/30/2016
Perf: $1,414.93 Date: 3/31/2016
Perf: $1,412.10 Date: 2/29/2016
Perf: $1,356.49 Date: 1/31/2016
Perf: $1,357.84 Date: 12/31/2015
Perf: $1,412.95 Date: 11/30/2015
Perf: $1,433.01 Date: 10/31/2015
Perf: $1,434.44 Date: 9/30/2015
Perf: $1,375.44 Date: 8/31/2015
Perf: $1,397.24 Date: 7/31/2015
Perf: $1,460.63 Date: 6/30/2015
Perf: $1,436.92 Date: 5/31/2015
Perf: $1,461.47 Date: 4/30/2015
Perf: $1,446.86 Date: 3/31/2015
Perf: $1,436.09 Date: 2/28/2015
Perf: $1,455.74 Date: 1/31/2015
Perf: $1,384.18 Date: 12/31/2014
Perf: $1,429.20 Date: 11/30/2014
Perf: $1,433.93 Date: 10/31/2014
Perf: $1,405.12 Date: 9/30/2014
Perf: $1,380.28 Date: 8/31/2014
Perf: $1,395.21 Date: 7/31/2014
Perf: $1,351.81 Date: 6/30/2014
Perf: $1,368.23 Date: 5/31/2014
Perf: $1,349.21 Date: 4/30/2014
Perf: $1,331.37 Date: 3/31/2014
Perf: $1,328.84 Date: 2/28/2014
Perf: $1,322.50 Date: 1/31/2014
Perf: $1,262.41 Date: 12/31/2013
Perf: $1,314.32 Date: 11/30/2013
Perf: $1,287.04 Date: 10/31/2013
Perf: $1,252.35 Date: 9/30/2013
Perf: $1,203.25 Date: 8/31/2013
Perf: $1,171.96 Date: 7/31/2013
Perf: $1,205.10 Date: 6/30/2013
Perf: $1,154.87 Date: 5/31/2013
Perf: $1,172.45 Date: 4/30/2013
Perf: $1,152.29 Date: 3/31/2013
Perf: $1,138.40 Date: 2/28/2013
Perf: $1,103.63 Date: 1/31/2013
Perf: $1,091.41 Date: 12/31/2012
Perf: $1,050.14 Date: 11/30/2012
Perf: $1,043.88 Date: 10/31/2012
Perf: $1,041.79 Date: 9/30/2012
Perf: $1,056.59 Date: 8/31/2012
Perf: $1,038.82 Date: 7/31/2012
Perf: $1,028.33 Date: 6/30/2012
Perf: $1,025.26 Date: 5/31/2012
Perf: $1,007.92 Date: 4/30/2012
Perf: $1,062.09 Date: 3/31/2012
Perf: $1,067.75 Date: 2/29/2012
Perf: $1,045.78 Date: 1/31/2012
Perf: $1,017.30 Date: 12/31/2011
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 12/11 - 07/17
Date: 7/31/2017
Return: 1.60 % Date: 6/30/2017
Return: 0.40 % Date: 5/31/2017
Return: 1.00 % Date: 4/30/2017
Return: 0.80 % Date: 3/31/2017
Return: -0.04 % Date: 2/28/2017
Return: 3.10 % Date: 1/31/2017
Return: 1.40 % Date: 12/31/2016
Return: 1.50 % Date: 11/30/2016
Return: 3.00 % Date: 10/31/2016
Return: -1.60 % Date: 9/30/2016
Return: -0.10 % Date: 8/31/2016
Return: 0.00 % Date: 7/31/2016
Return: 3.00 % Date: 6/30/2016
Return: 0.10 % Date: 5/31/2016
Return: 1.40 % Date: 4/30/2016
Return: 0.20 % Date: 3/31/2016
Return: 4.10 % Date: 2/29/2016
Return: -0.10 % Date: 1/31/2016
Return: -3.90 % Date: 12/31/2015
Return: -1.40 % Date: 11/30/2015
Return: -0.10 % Date: 10/31/2015
Return: 4.29 % Date: 9/30/2015
Return: -1.56 % Date: 8/31/2015
Return: -4.34 % Date: 7/31/2015
Return: 1.65 % Date: 6/30/2015
Return: -1.68 % Date: 5/31/2015
Return: 1.01 % Date: 4/30/2015
Return: 0.75 % Date: 3/31/2015
Return: -1.35 % Date: 2/28/2015
Return: 5.17 % Date: 1/31/2015
Return: -3.15 % Date: 12/31/2014
Return: -0.33 % Date: 11/30/2014
Return: 2.05 % Date: 10/31/2014
Return: 1.80 % Date: 9/30/2014
Return: -1.07 % Date: 8/31/2014
Return: 3.21 % Date: 7/31/2014
Return: -1.20 % Date: 6/30/2014
Return: 1.41 % Date: 5/31/2014
Return: 1.34 % Date: 4/30/2014
Return: 0.19 % Date: 3/31/2014
Return: 0.48 % Date: 2/28/2014
Return: 4.76 % Date: 1/31/2014
Return: -3.95 % Date: 12/31/2013
Return: 2.12 % Date: 11/30/2013
Return: 2.77 % Date: 10/31/2013
Return: 4.08 % Date: 9/30/2013
Return: 2.67 % Date: 8/31/2013
Return: -2.75 % Date: 7/31/2013
Return: 4.35 % Date: 6/30/2013
Return: -1.50 % Date: 5/31/2013
Return: 1.75 % Date: 4/30/2013
Return: 1.22 % Date: 3/31/2013
Return: 3.15 % Date: 2/28/2013
Return: 1.12 % Date: 1/31/2013
Return: 3.93 % Date: 12/31/2012
Return: 0.60 % Date: 11/30/2012
Return: 0.20 % Date: 10/31/2012
Return: -1.40 % Date: 9/30/2012
Return: 1.71 % Date: 8/31/2012
Return: 1.02 % Date: 7/31/2012
Return: 0.30 % Date: 6/30/2012
Return: 1.72 % Date: 5/31/2012
Return: -5.10 % Date: 4/30/2012
Return: -0.53 % Date: 3/31/2012
Return: 2.10 % Date: 2/29/2012
Return: 2.80 % Date: 1/31/2012
Return: 1.73 % Date: 12/31/2011
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 12/11 - 07/17
Return: -2.00 %
Count: 3 Return: 5.00 %
Count: 2 Return: -4.00 %
Count: 3 Return: -3.00 %
Count: 2 Return: 4.00 %
Count: 5 Return: 1.00 %
Count: 13 Return: -5.00 %
Count: 1 Return: -1.00 %
Count: 7 Return: 3.00 %
Count: 8 Return: 2.00 %
Count: 10 Return: 0.00 %
Count: 14
Note: All performance data is since program inception.

Underwater Curve
Date Range: 12/11 - 07/17
Date: 7/31/2017
Drawdown: 0.00 % Date: 6/30/2017
Drawdown: 0.00 % Date: 5/31/2017
Drawdown: 0.00 % Date: 4/30/2017
Drawdown: 0.00 % Date: 3/31/2017
Drawdown: -0.04 % Date: 2/28/2017
Drawdown: 0.00 % Date: 1/31/2017
Drawdown: 0.00 % Date: 12/31/2016
Drawdown: 0.00 % Date: 11/30/2016
Drawdown: 0.00 % Date: 10/31/2016
Drawdown: -1.70 % Date: 9/30/2016
Drawdown: -0.10 % Date: 8/31/2016
Drawdown: 0.00 % Date: 7/31/2016
Drawdown: 0.00 % Date: 6/30/2016
Drawdown: -1.73 % Date: 5/31/2016
Drawdown: -1.83 % Date: 4/30/2016
Drawdown: -3.18 % Date: 3/31/2016
Drawdown: -3.38 % Date: 2/29/2016
Drawdown: -7.18 % Date: 1/31/2016
Drawdown: -7.09 % Date: 12/31/2015
Drawdown: -3.32 % Date: 11/30/2015
Drawdown: -1.95 % Date: 10/31/2015
Drawdown: -1.85 % Date: 9/30/2015
Drawdown: -5.89 % Date: 8/31/2015
Drawdown: -4.40 % Date: 7/31/2015
Drawdown: -0.06 % Date: 6/30/2015
Drawdown: -1.68 % Date: 5/31/2015
Drawdown: 0.00 % Date: 4/30/2015
Drawdown: -0.61 % Date: 3/31/2015
Drawdown: -1.35 % Date: 2/28/2015
Drawdown: 0.00 % Date: 1/31/2015
Drawdown: -3.47 % Date: 12/31/2014
Drawdown: -0.33 % Date: 11/30/2014
Drawdown: 0.00 % Date: 10/31/2014
Drawdown: 0.00 % Date: 9/30/2014
Drawdown: -1.07 % Date: 8/31/2014
Drawdown: 0.00 % Date: 7/31/2014
Drawdown: -1.20 % Date: 6/30/2014
Drawdown: 0.00 % Date: 5/31/2014
Drawdown: 0.00 % Date: 4/30/2014
Drawdown: 0.00 % Date: 3/31/2014
Drawdown: 0.00 % Date: 2/28/2014
Drawdown: 0.00 % Date: 1/31/2014
Drawdown: -3.95 % Date: 12/31/2013
Drawdown: 0.00 % Date: 11/30/2013
Drawdown: 0.00 % Date: 10/31/2013
Drawdown: 0.00 % Date: 9/30/2013
Drawdown: -0.15 % Date: 8/31/2013
Drawdown: -2.75 % Date: 7/31/2013
Drawdown: 0.00 % Date: 6/30/2013
Drawdown: -1.50 % Date: 5/31/2013
Drawdown: 0.00 % Date: 4/30/2013
Drawdown: 0.00 % Date: 3/31/2013
Drawdown: 0.00 % Date: 2/28/2013
Drawdown: 0.00 % Date: 1/31/2013
Drawdown: 0.00 % Date: 12/31/2012
Drawdown: -1.65 % Date: 11/30/2012
Drawdown: -2.24 % Date: 10/31/2012
Drawdown: -2.43 % Date: 9/30/2012
Drawdown: -1.05 % Date: 8/31/2012
Drawdown: -2.71 % Date: 7/31/2012
Drawdown: -3.69 % Date: 6/30/2012
Drawdown: -3.98 % Date: 5/31/2012
Drawdown: -5.60 % Date: 4/30/2012
Drawdown: -0.53 % Date: 3/31/2012
Drawdown: 0.00 % Date: 2/29/2012
Drawdown: 0.00 % Date: 1/31/2012
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Goldman Management, Inc.
Address: 500 Morris Ave, Suite 110
City: Springfield
State: NJ
Zip: 07081
Country: USA
Key People
Name:  Steven Goldman
Position:  Principal
Biography: 


Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.