real-time news and commentary for investors
Tuesday, Feb 26
"I cannot think of any reasonable excuse for a firm taking 1,422 calendar days to liquidate a...
"I cannot think of any reasonable excuse for a firm taking 1,422 calendar days to liquidate a product" quips Ron Rowland in reference to Credit Suisse's (CS) recent announcement it would finally return to shareholders the remaining assets of 3 ELEMENTS ETNs nearly 4 years after the notes were delisted. Additionally, ELEMENTS CS Global Warming ETN (GWO) was delisted before trading today. Rowland believes "the firm has demonstrated an outright disrespect" to holders of its ETNs. Investors still interested in a 'global warming' play can consider the iPath Global Carbon ETN (GRN) though miniscule AUM and volume mean significant caution is advised.