I stole this from Adam who might have stolen it from Barry? I don't know but a list of links like this is certainly not an idea I thought of.
The NYMEX (NMX) IPO is obviously white hot but I find it interesting how everyone is on the same side of this trade, so it seems. I am not trying to make a prediction but with all of the exchange IPOs in the last few years and the can do no wrong attitude I wonder if they can keep going?
I wrote a few days ago about the health of the high yielding currencies as a sign of a willingness to speculate. Now there is commentary here and there about this starting to unwind. You can check this out from Dr. Roubini and from Danske Bank. Dankse Bank has been particularly negative on Iceland for a while but this PDF is interesting. If demand for the carry unwinds a little with taking down stock markets it could be viewed similarly to an increase in VIX.
Bill Cara got his hands on Morgan Stanley's ETF report and uploaded it here. Some of the data will be stale but the report absolutely has utility.
I had a reader email that notes comparing your portfolio returns to the "market" when chances are you own bonds in addition to stocks may not be the right measure of performance. Great point. This ties in with something reader RW has been saying for months which is that do-it-yourselfers don't need to worry about benchmarking returns. I agree with RW to a point. Hopefully if you are your own PM you have some sort of financial plan and you know what your portfolio needs to do. If you are coming short of your plan and the market repeatedly something may need to change. But if you get 7%, your plan needs 5% and the stock market gets 10% I would say no worries.
In case you missed it StateStreet listed two new Japan ETFs.
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6 comments:
Speaking of links Roger, I just tried to go to dismally.com and was redirected to the hosting service and a query link indicated the domain (dismally.com) had expired. I'm assuming registration was not renewed for some reason but there was no indication of any trouble there a couple days ago.
PS: I'm looking over the MS report Cara provided even as I type.
Roger, the oubini report (thank you) says it will elaborate on Iclenad's economy on another blog...Do you know where to go to read this?
Thanks!
I emailed David to ask about his site.
Dr. Roubini meant a future post on his blog site.
Hey Roger - I personally am staying away from the NMX IPO for right now. Remember, the BOT dropped about 20% before it started to go up again.
On a side note, this whole week I keep entering positions on the WRONG DAMN SIDE of XMSR while it gets whipsawed in either direction. You don't have to comment on this, but I don't understand what moves that stock. I think hedgies are hacking my computer, lol. ;)
Yeah the BOT dropped 20% months after IPO. Picked up 500 shares at open print of 120. Sold at 142 this afternoon for 11k. Glad I didn't wait like you Jay.
I think I just got slammed by an anonymous poster (??) Anyhoo, kudos if you made that trade - I'll bet you wish you got in at $59 like those with the connections though, lol.
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