Exchange Traded Fund

GoldCore's picture

Gold Prices Kept Low ... For Now ... But Only For Americans





  • Germans can’t get their gold reserves. Do how did the Dutch get their 122 tonnes of gold?

  • Is Germany being prevented from holding gold to prevent independent foreign policy action?

 
Tyler Durden's picture

Top 5 Surprises For 2014





The last six months have not run according to anyone’s plan.  Who would have thought that equity market structure would yield a best-selling book, after all?  As ConvergEx's Nick Colas notes, on the fundamental side of things, interest rates across the developed world are lower, not higher – counter to the consensus view just 180 days ago. Mutual fund investors first bought U.S. equities earlier in the year, then in the last 6 weeks have begun to liquidate in earnest. Exchange Traded Fund investors are buying more fixed income products than those dedicated to U.S. stocks. Large cap stocks are trouncing small caps in terms of performance. And as for volatility – well, Elvis has clearly left the building on that one. So which of these surprises has staying power into the back half of 2014?

 
Tyler Durden's picture

You Know It's A Top When...





For many months we have discussed the massive outperformance that buying the "most shorted" stocks has created. The 'alpha' generated fro buying the weakest balance sheet companies in preference of the stronger has enabled the dash-for-trash strategy (just as we saw yesterday when Tepper unleashed hell) to be the new meme. And so it is, like anything that is popular, ETFTrends reports that ETFis - a turnkey ETF provider - has filed with the SEC to launch an actively managed short squeeze fund...

 
Tyler Durden's picture

Starting Monday, Billions In ETNs Are No Longer Marginable Collateral





When is marginable collateral not marginable collateral? When it is an ETN, or Exchange Trade Note: the cousin of the Exchange Traded Fund (ETF). The very mutated, and unabashedly evil cousin of the ETF that is. At least such is the view of US brokerage Interactive Brokers " Pursuant to a recent decision by FINRA whereby Exchange Traded Notes (ETNs) will no longer be eligible for Portfolio Margining, these securities, including options having an ETN as an underlying, will be phased out of the program by OCC during the week of May 19, 2014."

 
GoldCore's picture

Gold At 4 Month High - Concerns About China Property Bubble Grow





Concerns about the possibility of the Chinese property bubble bursting affecting economic growth in China and the world is supporting gold.

 
Tyler Durden's picture

When Risk Is Not In Parity: Bridgewater's Massive "All Weather" Fund Ends 2013 Down 3.9%





Just over a year ago, in one simple graphic, we showed why Bridgewater, which currently manages around $150 billion, is the world's biggest hedge fund. Quite simply, its flagship $80 billion Pure Alpha strategy had generated a 16% annualized return since inception in 1991, with a modest 11% standard deviation - returns that even Bernie Madoff would be proud of.  And, true to form, according to various media reports, Pure Alpha's winning ways continued in 2013, when it generated a 5.25% return: certainly underperfoming the market but a respectable return nonetheless. However, Pure Alpha's smaller cousin, the $70 billion All Weather "beta" fund was a different matter in the past year. The fund, which touts itself as "the foundation of the "Risk Parity" movement", showed that in a centrally-planned market, even the best asset managers are hardly equipped to deal with what has largely become an irrational market, and ended the year down -3.9%.

 
GoldCore's picture

Part 2 - Deposit Confiscation Poses A Real Risk To Investors, Savers and Corporate Depositors





It is important that one owns physical gold and not paper or electronic gold which could be subject to bail-ins. Owning a form of paper gold and derivative gold such as an exchange traded fund (ETF) in which one is an unsecured creditor of a large number of custodians, who are banks which potential could be bailed in, defeats the purpose of owning gold. 

 

Physical Gold, held in secure conferring outright legal ownership through bailment remains the safest way to own gold. 

 
Tyler Durden's picture

"Euphoria"





Last week, Citi's Tobias Levkovich raised numerous concerns about the state of exuberance and "disconcerting disconnects" that is our new normal market currently. In the week since, Citi's proprietary Panic/Euphoria model is sending a clear warning of substantial complacency - its most "euphoric" since 2008. This is worrisome, he notes, since there is an 80% probability of a market decline in the next 12 months based on the current reading.

 
GoldCore's picture

Platinum and Palladium See Rising Investment Demand While Production Plummets





South Africa supplies almost 60% of the world's platinum (including secondary supply) and 30% of the world's palladium (including secondary supply).

According to Johnson Matthey, platinum production fell almost 16% in 2012 while palladium production declined 10% last year alone.

With prices well below their recent highs, looming production cuts will leave markets tight supporting prices and likely leading to higher prices.

A record deficit in platinum supplies is set to push prices higher and demand is boosted by the new exchange traded fund (ETF).

 
GoldCore's picture

Platinum 'Supply Squeeze' Likely To Lead to Record Prices





A record deficit in platinum supplies is set to push prices higher, as unrest sweeps the South African mining industry and demand is boosted by the auto sector and a new exchange traded fund (ETF), according to HSBC, as covered on CNBC

 
Monetary Metals's picture

Why is Gold Draining out of COMEX Warehouses?





It is a fact that COMEX gold inventories are falling and silver inventories are rising. Why and does this help predict the next price move?

 
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