David Fry

Thursday Outlook: Commodities, Global Markets

You're all very kind and we thank you. I just landed in Quito and just don't have time to write today but I'll be back on Monday.

Francie was pretty shocked I posted this but our dear readers need to know why I can't post sometimes.

That photo of her was taken 3 years ago and her beauty is timeless. We've been married for 32 + years. You must think I robbed the cradle literally.

As to the smart ass who wondered what a pretty lady like this was doing with a beast like me........that's been said before and the last guy that said it....well, you don't wanna know.

Friday Outlook: Commodities, Global Markets

I just plum forgot GLD..........

Tuesday Outlook: Commodities, Global Markets

7xy........

Sure, but I write a newsletter for an audience interested in all the ETFs.

From a large menu, we cobble together a few portfolios using fewer ETFs including VTI.

Tuesday Outlook: Commodities and BRICs Stay Hot

Well, stupid me! I was not aware of Van Eck Agri-Business ETF "MOO" when it was released and couldn't find one when I searched over the weekend. Nevertheless, alert readers have [ahem] let me know that it exists and how could I not know that? Indeed!!! Lost in the ETF Tsunami? Nope. I just didn't know period.

Friday Outlook: Global De-coupling

It used to be said: "when the US catches a cold the rest of the world gets pneumonia". Now they may just catch a cold. Isn't it amazing that the PE on the Brazil stock market is now probably greater than the S&P 500? On Friday, some EM markets came back to earth, so we'll see what happens. But, the momentum in BRICs is impressive although investors may become much more selective in the future.

As before, the 20th Century belonged to the USA. The 21st Century is moving elsewhere so it seems. It's also obvious that these countries are generating their own internal demand exclusive of exports to the US.

Friday Outlook: Global Markets

Closed-end funds are inefficient and lack the popularity with retail as ETFs. Some maintain premiums due to performance which may exceed that which an ETF produce.

Some closed-end funds have a reputation for "rights" offerings which are dilutive and the discount can often reflect this.

Many investors don't pay attention to these details and INP moved to a large premium as many investors mistakenly took it for granted that it was efficiently priced and reflected the NAV properly.

David Fry's Daily Market Outlook

Of course you're right. That must be the thinking. There is a secondary issue involving "value" investors using computer programs to chase down value plays based on current stock prices and "old" data.

I'm not smart enough to look out 9 months and see anything "plausible" as to the sector turning around. Beazer's CEO doesn't see anything today for the future either, and if he can't see it how can I?

The bottom line is not to fight the tape. There are many market sectors to choose from so one doesn't need to invest in everything.