Anniversaries: 1-Year for Bull, 10-Years for Bear
There was much ado regarding the one-year anniversary of the new bull market this past week. So much, in fact, that it overshadowed the 10-year anniversary of the Nasdaq bear. Right now one-year performance figures are mostly meaningless. Many of the funds currently sporting the largest one-year...
Claymore Introduces 3 Me Too ETF Clones
Claymore, the ETF sponsor that has closed 17 funds and has 12 more on ETF Deathwatch, introduced three new ETFs yesterday (3/9/10). They appear destined for a similar fate. The three new ETFs are Claymore Wilshire 5000 Total Market ETF (WFVK), Claymore Wilshire 4500 Completion ETF (WXSP), and Claymore...
Living On the Interest from One Million Dollars
I made my first retirement plan after my freshman year at college. Back at home, with one year of college under my belt, my good friend John and I were discussing our plans for the future. I don’t recall the entire conversation, but I do remember saying “my goal is to accumulate a million dollars,...
ETF News: Reverse Splits and Name Changes
EDZ Reverse Split: The Direxion Daily Emerging Markets Bear 3x Shares (EDZ) (launch article) will have a 1:10 reverse split as of today’s close with trading at the post-split price to commence on Thursday (3/4/10). EDZ closed at $5.12 which should translate into an opening price tomorrow in the neighborhood...
PHYS is Not an ETF
I previously wrote an article entitled PHYS: Now You Can Store Your Gold in Canada. After discussions with Michael Traynor of the National Stock Exchange, I agree with their conclusion that PHYS is not an ETF. In some ways, PHYS is similar to other physically-backed gold products such as SPDR Gold...
ETF Deathwatch for March 2010
The number of exchange-traded products (ETPs) on ETF Deathwatch crept back into triple-digits this month. For March, the quantity is 104 (71 ETFs and 33 ETNs), up from the 99 for February. Only four funds were launched last August. Since they surpassed six-months of age during February, they are...
ETF Stats for February 2010
Note (added 3/2/10): This article contains errors due to the fact that PHYS is not an ETF. Corrections include: New ETPs for the month = 17 (16 ETFs and one ETN); currently listed products = 964 (873 ETFs and 91 ETNs); table requires adjustments to reflect new quantities; new launch #18...
PHYS: Now You Can Store Your Gold in Canada
Note (added 3/2/10): The article below contains an error. PHYS is actually a closed-end fund, not an ETF. For more information, see PHYS is Not an ETF. Sprott Physical Gold Trust (PHYS), the latest physically backed gold exchange-traded product began trading yesterday (2/26/10) on the NYSE. The...
Do Not Buy CSLS
Credit Suisse Long/Short Liquid Index ETN (CSLS) was listed for trading yesterday (February 22, 2010). It is not a hedge fund ETN, and it does not track the similarly-named Credit Suisse Tremont Long/Short Equity Hedge Fund Index. It is an unsecured debt obligation of Credit Suisse. Furthermore, Credit...
EGPT: Egypt Now Available to ETF Investors
Market Vectors Egypt Index ETF (EGPT), the first single-country fund offering US investors exposure to Egypt, was launched yesterday (February 18, 2010). The underlying index includes publicly traded companies domiciled and primarily listed on an Egyptian exchange or that generate at least 50% of their...
