November 2012 +2.5% YTD 19.94%

Dear Investor,

Only a few days left to the end of the year. It has been the most difficult year in my trading history.  Fortunately, we have made a profit of 19,94% during 2012, including the 2,5% we made in November. As usual, meats and energies performed very well the last month of the year and helped us to finish the month in positive. I am not expecting big changes in the last week of the year, although the US Government indecision about the “Fiscal Cliff” and the low volume of trading can make markets even more volatile.

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