Investors have plowed a record amount of cash into emerging markets mutual funds. The reasons why are obvious.
Requiem for a Failed Product: The Death of the Housing ETFs
The Death of the the Triple Housing ETFs.
ETF Inflation and Brown's Law of Wall Street Product Creation
Brown’s Law of Wall Street Product Creation:
“Wall Street products decline in quality, popularity and necessity with each iteration after the original.”
Mutual Fund B Shares Face Extinction
The demonization of “B Shares” continues as even more mutual fund families drop this share class from the roster. From the Wall Street Journal: Lately, Goldman Sachs Group Inc., Allianz SE’s Pacific Investment Management Co. and American Century announced they would exit B shares. This accelerates a trend that has been gathering force since mid-decade….
A Letter From 2019
Dear Josh, It’s me: Josh…the You from 10 years from now, using the latest technology from Google to send an email to you from the future. Don’t freak out. Anyway, I’m just writing to let you know that the next ten years will be wacky, but everything turns out ok. For regulatory reasons, I obviously…
Blaming Retail Investors for Commodity Prices
“Commodity index rolls have little futures price impact, and inflows and outflows from commodity index investment do not cause futures prices to change” I haven’t come out strongly on either side of this issue because my job presents me with a dilemma. On the one hand, I believe that individual investors have played at least…
U.Y.G. Why? You Ain't Got No Alibi, You're Ugly
You knew these were coming down the pike! It was only a matter of time… NEW YORK, NY, Oct 13 (MARKET WIRE) — Bernstein Liebhard LLP filed a class action lawsuit on October 13, 2009 in the United States District Court for the Southern District of New York, on behalf of all persons who purchased…
Hot Links: NFL Injuries, Bill Miller's "Comeback" & the Second Depression
Hot Links for Morning Reading… Thanks to The Pragmatic Capitalist for taking on that Barron’s Bill Miller piece. You’re exactly right. (PragCap) The Thomas Palley Second Great Depression piece everyone will be talking about today. (FT) Big Story: How the online shopping monster can kill the recovery. (NYP) Fire sale at Blackstone: Up to 8…
Don Dion's 10 Most Dangerous ETF List
If you haven’t already, run on over to TheStreet.com to read Don Dion‘s first installment of the 10 Most Dangerous ETFs list. In light of the over-abundance of these products and the fact that many of them have not raised nearly enough assets to justify their existence, now is a great time to bone up…
The E! True Hollywood Story: Rise and Fall of SKF
The ProShares Ultra Short Financial ETF, otherwise called SKF, has had one of the most spectacular flame-outs in market history. One minute, SKF was a superstar, raking in millions of dollars on a daily basis and dominating the most actives list. Then suddenly, the party was over. This is the E! True Hollywood Story of…