Archive for the ‘ETF’ Category

Sector ETF Trading Takes Off

April 25, 2012

Chidem Kurdas

The exchange-traded fund most used by hedge funds and other traders tracks a broad-based (more…)

Cost Focus as Barbell Portfolios Spread

April 12, 2012

Chidem Kurdas

The idea of combining index investments with skilled (more…)

Oil Cool, Precious Metals Hot

March 22, 2012

Chidem Kurdas

Barclays forecasts high but stable-to-slightly-lower oil prices in the next quarter, assuming the Iran nuclear stand-off does not get worse. The reversal of the rising price trend could mean losses (more…)

GMO in Gold Club, Reason Differs

March 7, 2012

Chidem Kurdas

The institutional manager Grantham Mayo Van Otterloo has a distinctive view on gold. Unlike most observers and gold buyers like John Paulson (more…)

Paulson Continues Gold Strategy

March 6, 2012

Chidem Kurdas

In January John Paulson started to climb out of the deep pool of red ink he got into last year but in February he went the wrong way, in part because gold prices declined. Despite (more…)

Greece as Buy Opportunity, No Joke

December 7, 2011

Chidem Kurdas

A year or so ago there was an unconfirmed report than John Paulson was looking to (more…)

ETFs Supplement HF Investments

August 24, 2011

Funds of funds are using exchange-traded products to fill the gaps in their portfolios. (more…)

Managed Futures ETF: the Alpha Question

June 30, 2011

Chidem Kurdas

The first time I interviewed Tim Pickering almost two years ago, he managed the Claymore Natural Gas Fund trading on the Toronto stock exchange in addition to the Auspice diversified managed futures program. Earlier this month I interviewed him again for Opalesque Futures Intelligence, a publication I edit.

Tim has been busy. He’s developed a third-generation commodity index, the basis of another Claymore ETF on the TMX, and a managed futures index, with a corresponding ETF in the pipeline.   A third-generation commodity index  aims to get the upside of commodity returns while avoiding some of the downside. It’s meant to be a better way to get commodity exposure.  But what does a managed futures index do? I asked Tim that question.  (more…)

Gold, Stock ETFs Notable in Portfolios

June 17, 2011

Paulson & Co.’s $4.4 billion holding in SPDR Gold Trust may be the single largest  investment in an exchange-traded fund. But many hedge funds as well as institutions hold a wide variety of ETFs either as a hedge or an inexpensive way of gaining from the rise of a chosen market. (more…)

Commodities Follow Equity Index Precedent

June 8, 2011

Chidem Kurdas

Third-generation commodity index funds, using a rules-based approach to set the mix and weightings of individual commodities, are new.  Third-generation indexes may outperform the first generation, exemplified by S&P GSCI, by as much as 10% a year or better.

But the investment record is short. The first such ETF, the US Commodity Index Fund, was launched in August 2010—see interview with United States Commodity Funds chief investment officer John Hyland in Opalesque Futures Intelligence, a publication I edit.   (more…)