Stuff I’m Reading this Morning… BIG STORY: JPMorgan crushes their earnings by 31 cents. Look out! (Bloomberg) A philosophical take on whether or not banks are good for society. (NakedCapitalism) Vanguard did a study on how much bond funds could drop when interest rates get raised, the losses could be gigantic. (SeekingAlpha) Which Wall Street…
Seeking Alpha
The Two Horsemen of the ETF Apocalypse: UMM and DMM
Allow me to introduce you to an investment product so disgracefully ridiculous that one could only assume it was launched on a dare. Very quietly, on June 30th 2009, some firm called MacroMarkets LLC (co-founded by the otherwise well-regarded Robert Shiller) launched two ETFs that purport to be able to give investors 300% of the return or it’s inverse of the…
In-Flight Reading
I’m traveling today, but here’s a list of what I’ll be reading on the plane (pleasehavewifi, pleasehavewifi…) It’s been awhile since I’ve kept up with the Railroad stocks, but they may get interesting again in the second half of this year. This gentleman Jack Wx wrote up a breakdown of which railroads do what and…
