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Jonathan Liss  

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  • The Risk Of Using Equities As A Rising Rate Hedge [View article]
    100% anything exposes you to huge risks. You need to diversify.
    Aug 7, 2013. 02:40 PM | 1 Like Like |Link to Comment
  • PIMCO Global StocksPLUS & Income Fund PGP: A High Yield Dividend Option, Is It Sustainable? [View article]
    I know I'm late to the party here Douglas and your points on premium to NAV are well taken however I wouldn't describe a fund with 32% long S&P 500 exposure (via futures) a 'fixed-income' fund. See here: Top 2 holdings are SPX futures and account for roughly 32% of holdings as of 6/30.
    Aug 7, 2013. 02:18 PM | Likes Like |Link to Comment
  • Setting Up The Big Gold Short [View article]
    Ron Swanson on Park & Rec loves bullion at these prices!
    Aug 1, 2013. 08:40 AM | Likes Like |Link to Comment
  • Potash turmoil 'a complete game changer' [View news story]
    I added 30% to my PAGG position today. Certainly not a fertilizer pure play but heavy on names like POT (Canadian shares) and MOS. Still only a smallish satellite holding (2% total) but I still believe with the global population continuing to grow at a fast clip and China and India's growing middle classes demanding higher quality food, this is a good long-term play and am happy to add at these levels. This sell-off seems overdone to me, at least looking at this with a long-term view.
    Jul 30, 2013. 04:07 PM | 1 Like Like |Link to Comment
  • A Guide To Maturity-Date Bond ETFs [View article]
    There are too few corporate bond issues that go out beyond 10 years to build a sufficiently diversified maturity-date bond fund. However in the muni space I believe it would be possible but am not 100% certain.
    Jun 26, 2013. 03:07 PM | Likes Like |Link to Comment
  • 3 'Tweaks' That Will Fortify Your ETF Portfolio [View article]
    Agreed. In terms of lowering the duration of your high yield (and even investment grade) bond funds, I have been using the bulletshares suite of products for my parents' portfolio with great affect. This has the added benefit of offering complete control over the exact duration (as they are issued in yearly increments) and also allows you to largely avoid the interest rate risk headache by holding to maturity, as you would with individual bond issues. I'm holding BSJF and BSJG specifically and can push out the duration a year at a time.
    May 14, 2013. 03:55 AM | Likes Like |Link to Comment
  • Unraveling The VXX Roll Yield Riddle [View article]
    I have added in the multitude of VIX ETPs to the secondary tickers field as this article is certainly relevant to anyone that has positioned themselves anywhere along the VIX curve, long or short. Many of the '2nd gen.' VIX ETPs make an effort to mitigate the roll issue to an extent with varying degrees of success.
    May 10, 2013. 04:35 AM | 2 Likes Like |Link to Comment
  • iShares Barclays TIPS Bond ETF (TIP) announces monthly distribution of $0.3111. 30-day SEC yield of 7.84% (as of 4/30/2013). For shareholders of record May 03. Payable May 07. Ex-div date May 01. [View news story]
    It's good to have at least some exposure to TIPS just in case inflation does suddenly spike to protect your spending power.

    BTW, anyone know what deal with this yield is? As they didn't pay last month it's clearly a 1-month inflated yield. The 12 month is considerably lower.
    May 2, 2013. 07:08 AM | Likes Like |Link to Comment
  • What's Wrong With This Picture? [View article]
    Yep, last time sentiment was this low, the market was just about to start a multi-year bull run. When sentiment is this low, it's usually a good contrarian indicator.
    Apr 25, 2013. 05:04 PM | Likes Like |Link to Comment
  • Western Digital: The New Paradigm Unfolds [View article]
    We have made said fix Sunil - thanks!
    Apr 25, 2013. 01:43 PM | Likes Like |Link to Comment
  • Sarepta Therapeutics: Irrational Exuberance [View article]
    Seriously? Based on that logic, there's no place for any analysis about any company that makes any product that may help someone.
    Apr 25, 2013. 09:58 AM | Likes Like |Link to Comment
  • Oilfield Water Management: The Oil And Gas Industry's Holy Grail [View article]
    Note: This article originally stated that Colorado specifies a "40-millimeter" thickness for pit liners. The reference was corrected to read “40-mil.” A mil is one thousandth of an inch, versus a millimeter, which is one thousandth of a meter.
    Apr 7, 2013. 02:09 PM | Likes Like |Link to Comment
  • Nuveen New York AMT-Free Muni Fund: A Good Holding For Highly Taxed Investors [View article]
    Thanks for a great look at a lesser-known fund as always George. How would you say this fund stacks up vs. NVN in your view?
    Mar 26, 2013. 05:29 PM | Likes Like |Link to Comment
  • DB announces a halt in new creations on 26 ETNs it is the indexer or issuer on (effective 3/29), meaning the potential for the notes to trade at significant premiums to NAV as redemptions will still be available. DB expects to resume creations by mid-April. The affected notes follow: BDD, BDG, BOM, BOS, BUNL, BUNT, DEFL, DGP, DGZ, DOD, DTO, DZZ, INFL, ITLT, ITLY, JGBD, JGBL, JGBS, JGBT, LBND, OLO, SBND, SZO, UDNT, UUPT, WMW[View news story]
    It means no new shares will be issued between March 29 and mid-April essentially turning these funds into Closed-End Funds. The way ETFs and ETNs trade so close to NAV is by allowing authorized participants to come in and create or redeem baskets of 50,000 shares at Net Asset Value, allowing them to arbitrage any differences to NAV that may exist. Without the ability to create new shares investors may bid these Notes above their NAV during this period with no ability for authorized participants to come in and bring the shares back down to NAV.
    Mar 19, 2013. 02:06 PM | Likes Like |Link to Comment
  • Guggenheim announces it will shutter 9 ETFs "in order to focus resources on products that have demonstrated greater marketplace demand." Final day of trading to be March 15 with liquidation expected to be "on or around" March 22. The affected funds (with direct competitors in parentheses) are: ABCS (SDIV, VYM), EWEF, EWMD, EWSM, FAA, RSU (SSO), RSW (SDS), WFVK and WXSP. (PR[View news story]
    Pity indeed. There is another smallcap equal weight fund - - Guggenheim Russell 2000 equal weight (EWRS) - but the outperformance doesn't seem to be there.
    Mar 19, 2013. 09:39 AM | Likes Like |Link to Comment