The discussion around Smart Beta gets more ridiculous by the day
Joshua M Brown
this morning’s non-farm payroll report showed a continuation of two important trends:
“The vast majority of ETPs have very low levels of assets under management and illiquid trading volumes. Many of these have illiquid underlying assets and a large group of ETPs are based on derivatives that are not backed by physical assets such as stocks, bonds or commodities, but rather swaps or other types of complex…
The new rules in the age of the internet – put up or shut up. If you’re not delivering alpha to the advisors and investors you want to use your products, then save the monthly outlook commentary and full-page ads in Barron’s for your mama. There’s too much information available for closet indexers charging 100…
Bill brings his expertise, his clients, and a desire to add value to their lives to Ritholtz Wealth Management in his new role as Investment Advisor Representative.
What I’m reading this morning
there is a tactical trade opportunity afoot as the world comes to the realization that US growth rates will not remain isolated
Stop whatever you’re doing and read this:
Let’s hope others heed this call as well and actually do something about it, before we squander any more opportunity for long-term returns.