At 602 pages, index, notes and all, the book is a long commitment for any reader.
To be sure, funds with a low R-squared performed worse during the financial crisis than index huggers, notes Notre Dame's Prof.
WSJ: Upside: How to Find a Fund Manager Who Can Beat the Market
Most offer a return over the life of the investment that is a multiple of the return on some index (or with its Bear Market Notes, the decline in that index).
As TD Ameritrade notes, the index is a look back, not forward.
FORBES: You Can't Win If You Don't Finish the Investing Race
So he put together his own sample edition, with roughed-out maps, margin notes, an index and a list of appendixes, and sent it out again.
Dave Lutz, ETF strategist at brokerage firm Stifel Nicolaus, notes that the FTSE emerging markets index does not currently include South Korea while MSCI puts the country at 15.5% of the index.
"The notes will reflect the performance of the index, so the customer's money will never go into the actual hedge fund, " said Naveed Ahmad, head of investments at Dubai Islamic Bank, at the product's unveiling.
He notes that IBM topped 6% of the index in the 1980s.
FORBES: Apple: Credit Suisse Pounds The Table; Target To $600
In addition to tax efficiencies, ETNs aren't subject to tracking error an issue for ETFs since the issuer doesn't need to buy and sell assets to keep the notes' return in line with the benchmark index.
In fact, notes Murphy, 14 of the 19 commodities in the index saw losses on Thursday.
But now, Hussman notes in his latest market commentary that the ECRI Weekly Leading Index, which has been a leading indicator for the ISM index, has declined to -6.9%, a bad sign.
Market technician Arthur Hill on Stockcharts.com notes some exceptionally rare oversold readings on the SPY chart on an indicator called the commodity channel index (CCI).
Google's official page for Webmasters cryptically notes that Google is "able to place fewer restraints on sites that we crawl for this supplemental index than we do on sites that are crawled for our main index, " a phrase that puzzles most search marketers.
By contrast, with a traditional index mutual fund, "you're always buying at the net asset value, " Mr. Goldie notes.
应用推荐