…when people talk about vol, they talk about the VIX. What did the VIX do today? Did the VIX go up or down? The VIX has been very high at various points in the past, for example, during the financial crisis. People think that because volatility is mean-reverting, it is…
…iShares MSCI Frontier 100 ETF (FM) This ETF has lost about 0.8% since our February issue went live but year to date, its performance has been stellar. Since January 1, it appreciated by 11.3%. Investors hunting for relatively cheap stocks must have noticed that this ETF’s P/E ratio is almost…
…iShares MSCI Frontier 100 ETF (FM) Since our last update, FM has appreciated by 4.7%, including a dividend of $0.026 paid on December 28. Hold. New Subscribers: Do not buy. BlackRock Corporate High Yield Fund (HYT) Including the most recent dividends, we are up 4% since our December update. Post-election,…
…here. And yet, an ETF of low-volatility stocks has actually outperformed the S&P 500—over quite a long period of time. Not just by a little. By a lot. According to theory and years of market experience, that shouldn’t happen. But it is happening. An ETF that is full of things…
…0.4%. The Canadian dollar ETF has appreciated slightly, resulting in a 2.7% drop in our short position. An update from the Real Estate Board of Greater Vancouver showed an 8.8% annual increase in the benchmark price. Inventory is also up, yet the number of sales is going down. Toronto’s numbers…
… EWC is an ETF that tracks the MSCI Canada Index. It’s like SPY, but for Canada. Disclosure: I am short EWC through options. If you look at the overall Canadian stock market, it’s mostly banks, energy, and basic materials—everything that has the potential to go poo at the same…
…in “negative convexity” / “vol target” / “vol rebalancing” strategies to either generate extra income or “systematically allocate risk” (looks good in the prospectus, right?!) – finally “broke” the volatility market, and has now bled-through to the “underlying” spot equities market…as the short vol trade went “lights out.” The ETNs…
Jared Dillian
Jared Dillian
Robert Ross
John Mauldin