Alerian MLP ETF (AMLP) Screws Shareholders Again

By hidden design, the Alerian MLP ETF (AMLP) robs shareholders of 37% of their upside gains.  It was the first ETF do this, and when I revealed AMLP’s dirty little secret to owners and potential buyers, many did not seem to care.  “It’s all about the dividend,” they emphatically stated.  “Plus,... 

What’s Working Now

Long-time readers of this column know they can quickly ascertain the areas of strength and weakness in the market with a quick glance of the EdgeCharts that are included with each weekly update.  These charts graphically display the intermediate-term momentum for 33 market segments across three (sectors,... 

SPY’s Volume Speaks Volumes

I do not claim to be an avid student of market volume, and most market technicians would refrain from calling me an expert on the subject.  However, I have enough knowledge on the matter to notice a few things once in a while.  With this disclosure out of the way, I will now tell you what I have been... 

A Tale of One Index and Three ETFs

By now you have heard about the market dislocation that occurred on Monday.  After closing 530 points lower on Friday, futures on the Dow Jones Industrial Average were suggesting the Dow would open hundreds of points lower on Monday.  Indeed, that is what happened, and then it proceeded to plunge... 

Don’t Believe The Hype – New ETF Is Neither Free Nor First

Perhaps you’ve seen the hype.  Dressed up as “news” stories and industry insights in otherwise reputable media outlets and blogs, the true facts behind this new ETF contradict the headlines. A mash-up of the many headlines I observed this week might read “The First Free ETF Finally Arrives”... 

Downplaying Black Friday

This week marks the beginning of the sprint to the finish line of 2014.  Yesterday, our country held its annual thanks.  Ironically, the day after we give thanks for everything we have, we are encouraged to spend lavishly on gifts and things we do not have.  What was once a subtle shifting of gears... 

How To Play Alibaba With ETFs – Don’t

Unless you’ve been living under a rock, you are probably aware that Alibaba’s initial public offering (“IPO”) is slated for Friday.  Alibaba Group Holding Ltd. expects to raise about $23 billion, making it the largest IPO in the history of the world and valuing the company at more than $160... 

Alerian MLP ETF (AMLP) Finally Admits Its 8% Expense Ratio

Warning:  The SEC Has Determined an 8% Expense Ratio is Hazardous to Your Wealth. Unfortunately, the SEC has not followed the example of the Surgeon General and does not require such warning labels on ETFs and mutual funds.  The Alerian MLP ETF (AMLP) was the first ETF structured as a C-corporation,... 

Eleven ProShares ETFs Become Broken Products

Note: ProShares resumed issuance of creation units for these 11 ETFs on 5/6/14 (press release). Last Friday (May 2, 2014), ProShares announced the suspension of creation units for eleven ETFs.  The ability to create and redeem shares is the primary characteristic of what makes an ETF an ETF.  Without... 

Checking In On The MLPI-AMLP Taxman Trade

Three years ago today, investors received their first warnings about the problems of owning MLPs inside an ETF.  Unlike all the other ETFs that came before it, the Alerian MLP ETF (AMLP) from ALPS was the first ETF structured as a C-corporation and saddled with federal and state income tax liabilities. ... 

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