…stop, please get my ETF course. The $149 is cheaper than whatever you’re losing, I assure you of that. Portfolio Update Gold and Silver Holdings (GDX, GLD, SIL, SLV) Repeating the pattern we saw last month, our mining-focused ETFs (GDX and SIL) have outperformed their metal-based counterparts (GLD and SLV),…
…years ago, the smart vol guys circulated a paper among themselves that had been written by a fellow named Chris Cole at a small hedge fund called Artemis. Mr. Cole observed that people were paying a lot of money for deep-out-of-the-money puts but almost nothing for deep-out-of-the-money calls. (You can…
…iShares MSCI Frontier 100 ETF (FM) This ETF has been crushing it so far this year, having returned 3.9% since our last update alone. As fears about Trump’s protectionist rhetoric gave way to fears that he would not be able to deliver on some of his key promises, emerging markets…
…kidding about credit and vol. The same thing happened pre-financial crisis. Same thing. The VIX dipped below 10 and options were still a sale, because realized vol was even lower. There was nothing to do. As it turns out, that was a pretty good leading indicator of some major financial…
…yes, Street Freak and ETF 20/20 are included. If you want to save thousands of dollars and get access to some of the best newsletters around, you should check it out before the offer closes on December 13. Anyway, back to the mush. Funny thing about them—they are present in…
…BRL was realizing 76 vol when implieds were at 28. Short gamma hell! You only see that type of volatility at the bottom, I think. When I look at FX, I also look at real valuation as determined by purchasing power parity (PPP), and at 4 to the dollar, BRL…
…years ago, the smart vol guys circulated a paper among themselves that had been written by a fellow named Chris Cole at a small hedge fund called Artemis. Mr. Cole observed that people were paying a lot of money for deep-out-of-the-money puts but almost nothing for deep-out-of-the-money calls. (You can…
…enough, all the big ETF launches this year have been for miscellaneous smart beta strategies. There is this temptation in the finance business that you can create some kind of magic pill or potion, or magic beans that you can plant in the ground and grow the money tree. If…
…Dirtnap By Jared Dillian Vol. 10, No 1; January 2, 2018 I’m typically not one for nostalgia, but doing 10 years of anything (in a row is pretty impressive. I have saved every single issue, in this bookshelf in Christian’s office. That’s what 9 years of writing looks like. Anyway,…
Jared Dillian
Jared Dillian
Patrick Watson
John Mauldin