SLX is the Market Vectors Steel ETF. It listed in October. As you may know Nucor is getting crushed and some the other related stocks have rolled over in the last couple of days.The chart shows that SLX has generally been a smoother ride but has lagged the move in some of its larger components.
This is an obvious observation but it is worthwhile to see that a product does what it is intended to do.
RIO is a client holding.
1 comments:
Steel,shmeel, and all things nice(ly complicated). Does it really matter to know about global inticacies, to follow your curiousity of the latest new products? I find them all painfully hard to resist and I raise a glass of medicinal spirits when I hear, again, about simple does fine, better than fine."... our simple Coffeehouse Investor portfolio, consisting of a 60/40 stock bond split, with the bond portion reflecting an intermediate-term bond index fund and the equity portion equally divided between large-cap, value, small-cap, small value, international and a real estate investment trust REIT (represented by appropriate Vanguard funds), has generated a year to date return of 15.04 percent, with the all equity portion of the portfolio up 21.87 percent, handily beating the blue chip averages yet again. If these numbers hold up, it will make it the sixth consecutive year that the all equity portion of our portfolio has topped Wall Street’s beloved blue chip stocks." No expense fees here to subtract. Oh, well, let's call it a hobby.
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