…this is the homebuilders’ ETF. It is telling us something completely different. I suggest you sit and contemplate friends and family and whether any of them have told you they are crushing it lately. How many people are on their personal all-time highs? The answer will surprise you. Am I…

…at least, the short vol unwind was. But now we’re dealing the Fed slowly raising rates, so it will take a while to invert the curve, and even after that, it takes a long time for a recession to appear after the curve is inverted. If this is a real…

…The listing of an ETF that is actually short brick-and-mortar retailers is one example. Here’s the ad out of Barron’s. Source: Barron’s The “decline of the retail store” ETF. It doesn’t get any better than that. Coinciding rather perfectly with the launch of the “decline of the retail store” ETF?…

…Update Vanguard Midcap Value ETF (VOE) Our midcap value ETF was down around 1.4% over the last month. Meanwhile, the S&P 500 Growth ETF was up around 1%. Growth stocks have been outperforming value stocks for quite some time now. This means value stocks are even cheaper than before. It’s…

Implicit Short Vol Strategies Issue: 4.03 | March 2018 In This Issue Implicit Short Vol Strategies Page 1 Investment Recommendation Page 10 WTF Page 11 Portfolio Update Page 13 Conclusion Page 18 Now that’s a pretty boring title for a newsletter. First, an update on my whereabouts. A couple weeks…

…buying (buybacks, indexing, short vol). 3.Monetary policy is not tight (yet). 4.Profits are unstoppable. 5.Regulations are being rolled back. But: 1.Some of these economic indicators are massively stretched. Consumer confidence: ISM: Jobless claims: Things simply can’t get any better. (Famous last words.) I was having an email conversation with a…

…iShares Edge MSCI Min Vol Japan ETF (JPMV) Page 9 CDs of the Month: the Highest-Yielding CDs from Top Banks Page 12 Portfolio Review Page 13 By Patrick Watson Next month marks the 30th anniversary of Black Monday, the market crash of October 19, 1987. On that dark day, the…

…of CurrencyShares Canadian Dollar ETF (FXC), sell short 200 shares of Canadian Imperial Bank of Commerce (CM), and sell short 300 shares of Canadian Western Bank (TSX:CWB) at the market. Precious Metals Holdings (GDX, GLD, SIL, SLV, FNV) Our precious metals positions were down slightly this month, dipping an average…

…MSCI USA Momentum Factor ETF (MTUM) As expected, MTUM has plummeted during the market selloff. It fell another 9% in the last month. We’re up 12% on the short position. If we get another leg down in the market, we’re going to cover this short position. Stay tuned, but for…