Greenshoes, Facebook phantoms and ETF magic
Successful or not, Facebook’s IPO has taught us one very important thing over the last two days.The blogosphere/Twittersphere knows extremely little about greenshoe IPO mechanics....
The unconventional hedge, redux
FT Alphaville’s resident credit expert Lisa Pollack is on the case regarding JP Morgan’s “egregious” loss announced on Thursday.But, as we wait for her analysis,...
Do Exchange-Traded Funds Pose A Threat to Stability?
Exchange-Traded Funds Ozgur Emre Ergungor Cleveland Fed ETFs are one of the most successful financial innovations of the last few decades. As a new, rapidly growing, and increasingly complex financial instrument, ETFs might raise concerns about the risk they pose to financial stability. While they do not seem to pose a threat at this...
Mutual Funds & Managers to Avoid
> My Sunday Washington Post Business Section column is out. This morning, we look at The mutual funds and managers to avoid. Both the print and online versions shared the same headline. Here’s an excerpt from the column: “Many factors determine how well your investment returns do. The big ones are (1) how your holdings...
A mystery in the iShares Dax ETF
Emma Dunkley at Citywire has stumbled across a bit of a mystery.In April, the iShares Dax ETF experienced outflows of some $5bn. For a fund which held about $13bn under management at its peak,...
ETFs, unregulated banks in disguise
If one article sums up how ETFs have come to change the market structure of the equity universe, it’s this one from Paul Amery at Index Universe on Thursday.As he recounts,...
For a few Vix hedges more
Last week a rather interesting thing happened in the world of volatility ETNs. The VelocityShares 2x short-term Vix futures ETN, backed by Credit Suisse and known as TVIX, announced...
ETFs as shadow banking entities
A list of shadow-banking entities, as defined by the European Commssion in its latest green paper on shadow banking:And some more on the role of ETFs in the shadow banking universe:...
The European central securities depository liveth!
Remember Europe’s little security settlement problem (especially in ETFs)?Seems the European Commission has finally decided to take some action.From the Europa website...
