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 More About Futures
 Our futures research coverage includes:
• Currencies
• Meats
• Energies
• Metals
• Financials
• Softs
• Grains

Futures & Commodities Trading

Services for Futures & Commodities Investors

A.G. Edwards serves beginning investors as well as those with more complex portfolios by offering a broad range of investment products and services, including in-depth futures and commodities trading market research, commentary and timely recommendations to our Financial Advisors and their clients.


Our Futures & Commodities Trading Research Analysts

With an average of more than 20 years of experience in the industry, our futures and commodities trading research analysts cover an extensive range of futures and commodities. They are widely recognized and quoted by the media, including Bloomberg, CNBC, CNN, CNNfn, Dow Jones, Reuters, PBS' "Nightly Business Report," and The Wall Street Journal.

Patrick Fearon - CFA - Analyst (Currencies and Debt)
Patrick Fearon, CFA, earned a bachelor's degree in government and international relations from the University of Notre Dame, a Master of Public Policy in business and government from Harvard University, and a Master of Business Administration from Arizona State University. He has extensive experience in international economic analysis, including positions at the CIA in Washington, D.C., and NATO in Brussels, Belgium. He joined A.G. Edwards in 2001 as an economist and now analyzes the currency and debt futures markets. He also is a member of the firm's Investment Strategy Committee.

Bill Nelson - Analyst (Grains and Cotton)
Bill Nelson received a bachelor's degree in meteorology from Iowa State University and a master's degree in agronomy from Purdue University. For more than 25 years he has estimated and interpreted supply-and-demand variables for various companies. Mr. Nelson joined A.G. Edwards in 2000 as the grain futures analyst. His analyses have been quoted widely in the media, including The Wall Street Journal, Barron's, Dow Jones News, Bloomberg and Reuters.

Bill O'Grady - Chief Investment Strategist (Energy)
Bill O'Grady began his career in the financial services industry more than 20 years ago after completing his master's degree in economics at Saint Louis University. He joined A.G. Edwards in 1989 and is a member of the firm's Investment Strategy Committee. He analyzes energy futures markets and is frequently quoted by the media, including The Wall Street Journal, Dow Jones and CNBC.

Dan Vaught - Analyst (Meats and Metals)
Dan Vaught earned his bachelor's and master's degrees in agricultural economics from the University of Arkansas in 1985 and 1987 respectively. He joined A.G. Edwards as a fundamental analyst in 1990, taking over coverage of livestock futures in late 1991 and precious metals in 1997.

Eric Wittenauer - Analyst (Energy)
Eric Wittenauer joined A.G. Edwards in 2006 after receiving his Master of Business Administration degree from Saint Louis University. He received his bachelor's degrees in economics and sports management from Southeast Missouri State University. As an energy analyst, Mr. Wittenauer analyzes the crude oil, gasoline, heating oil and natural gas futures markets.



Why Consider Futures Trading?

Futures investors have long recognized they have the potential to profit from both upward and downward movement of investments.

Speculators can take advantage of highly leveraged exposures in both financial and nonfinancial markets. That means they can buy futures contracts by depositing just a small percentage of the overall contract price. Their goal is to profit from changes in the price of the futures contract.

Hedgers, those who hold a specific commodity (asset) or have a specific exposure (such as energy cost), often take a position opposite of the cash market to help reduce the risk of rising or falling commodity prices.


Know the Risks of Futures Trading

Because futures trading can be highly unpredictable and the markets can swing dramatically, it is not suitable for all investors. You may lose your entire investment and, in some cases, even more than you invested. There may be times when you have difficulty selling your futures contracts, which may limit your access to cash. Before opening an account, consider your:

• Financial experience
• Investment goals
• Risk tolerance
• Financial resources

Futures are not covered by the Securities Investor Protection Corporation (SIPC).



Managed Futures Funds
Managed futures funds (or partnerships) pool the investment dollars of various investors and take advantage of the knowledge and expertise of a professional money manager. This type of futures investing can be an excellent diversification tool that combines potential opportunities and disciplined trading techniques.

There are significant risks associated with these investments. You could lose all or a substantial amount of your investment.


How A.G. Edwards Can Help
Contact your Financial Advisor for more information about futures and commodities trading and for help in determining whether investing in futures is right for you.

Note: If futures have the potential to fit into your portfolio and your Financial Advisor does not trade futures, he or she will recommend another A.G. Edwards Financial Advisor who can help you invest in this highly specialized investing niche.