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Latest Comments92 Comments
Gaining Global Exposure: International ETF Dividend Investing
Is the Oil Index Set to Fall?
I'm glad these commodity ETFs are there, we don't need to be protected from them, they've been good to me. But don't try to do it just on charts - you really need to understand seasonality, supply and demand factors and a fairly exotic brand of headline risk.
Commodity ETFs may trade as stocks, but they're not stocks, and the investor will get spanked repeatedly until the lesson takes.
Commodity and Bond ETFs: "Stuff" and "Safety" Beating Stocks
It's like when somebody says "You can't time the market," what they're really saying is "I can't time the market."
Do what you can. If you can't do something, do something else.
Do New Commodity ETFs Signal a Top?
The Problem With Designer ETFs
"A process based on the full set of information and constantly informed and updated by skilled human judgment."
Is he kidding? A cuddlesome dogma, but demonstrably false. How about intellectual laziness, herd mentality and fear of independent thought? Is Mr. Siegel against the American Revolution because George III was anointed by God to be our leader? That orthodoxy makes just as much sense.
"A full set of information?" Then how come everybody was blindsided by Bear Stearns?
Yeah, right. That's the kind of thinking that got us into this mess.
"Market cap is a function of democracy?" What addlepated nonsense! Market cap is a function of market cap, and there's more than one path to stock market Nirvana. It's Mr. Siegel's kind of chanting blind, lemming-like sloganeering that gives economics a bad name.
This article belongs on a religious or archeological website, because on a scientific basis it's dead, over, obsolete, extinct, kaput.
ETF Update: Financial ETFs, Energy Exploration and ETFs
And if you started tomorrow on offshore oil, it wouldn't hit the market till 2030, and at present consumption rates, we'd use it up in 2 1/2 years. This theater is just to pacify the oil guys who go nuts whenever you say, "Sorry, you can't drill there. No, it's the Washington Monument, you can't put a rig there. No. You can't." And Texas oil guys go "Whaaaaaaaaaaa!!!...
Tom, you're spending too much time with Fox Noise. All that happy talk is bad for your judgment.
Why Have Most Investment Advisers Been Slow to Adopt ETFs?
Passive Investing Wisdom from Taylor Larimore
"Mr. (John) Bogle has stated that he never met anyone who can time the stock market successfully and consistently."
I'm sorry he's never met George Soros, Paul Tudor Jones, Julian Robertson or any other of several hundred private investors and hedge fund managers who have done just that. Mr. Bogle should get out more.
Even people who say they don't market time, like Warren Buffett, wind up timing their entries and exits anyway.
Mr. Larimore's quasi-religious claptrap is utterly useless. Blind repetition of slogans doesn't make them true, but I suppose if you don't want to worship a tree or a rock, you can worship Mr. Bogle instead. And Mr. Malkiel's orthodoxy has a tough time explaining exactly what happened in the markets this year. "Random" it was not, and hasn't been for a long time.
For a 25 year period not so long ago, the markets had virtually zero return. We're just coming out of what many are calling "A Lost Decade." If you've got 10 or more investing years to waste doing nothing while the market vainly searches for a trend, good for you, but those of us with realistic actuarial estimates aren't limited to passive buy-and-die. "Stay the course" as a piece of advice has a well-deserved reputation of being utterly disastrous.
Do many people overtrade? Sure, without a doubt. Is this particular set of mantras a recipe for success? Hell, no.
P.S. The astronomical turnover in Cubes comes from institutional investors, the ones Jack Bogle has never met, not from individual white-shoe'd retirees in Florida.
Ukraine: Overlooked, Yet a Promising Emerging Market
Constructing a Portfolio from the Top Down
Are Subsistence Wages Killing the US?
In fact, the real villains of the piece are Reagan and Friedman and Greenspan, who presided over a massive redistribution of wealth upwards. The numbers are irrefutable: a small clique of oligarchs at the top of our pyramid hold ever-increasing wealth subsidized by transfers from below. As long as we narcotize ourselves with economic royalism and false, meaningless slogans like "the magic of the market," we'll be unable to do anything at all for the majority of Americans whose prospects are diminishing day by day.
The Golden Rule is "them's with the gold, makes the rules," and I for one am disgusted with their whining, faulty judgment and irresponsibility.
PowerShares Water ETF Lacks Focus
Short Bond ETFs Get Short Shrift
PowerShares' Latest Concept: ETFs of ETFs
PTO: How Will It Perform?