Seeking Alpha

End of gold exodus helps 2014 ETF flows top 2013

  • ETF inflows year-to-date of $73.7B topped $67.9B from the same period one year ago, according to Credit Suisse, with Vanguard being the owner of four of this year's five best-sellers: The FTSE Developed Markets ETF (VEA), the REIT ETF (VNQ), the S&P 500 ETF (VOO), and the FTSE Europe ETF (VGK) each picked up at least $3.3B in inflows. Also in the top five is SSgA's Energy Select SPDR (XLE) with $3.2B.
  • This year's overall numbers aren't as relatively impressive when taking gold out of the equation, as $25B exited the SPDR Gold Trust one year ago, while flows this year have been relatively flat.
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Comments (2)
  • gardencove
    , contributor
    Comments (21) | Send Message
     
    VGPMX has been very good to me lately, with VGSLX not far behind. Don't even want to mention VEMAX. These have done a good job of hedging against the vibrations of U.S. equities and have made some surprising, but pleasant returns.
    8 Jul, 06:39 PM Reply Like
  • lords
    , contributor
    Comments (47) | Send Message
     
    Facts to consider before invest one more dime in the mkt at these levels
    -- corp debt in USA 14trillion up from 6.5T in 2008. Growing at 1.4-1.5trillion a year.
    --PE 20, real PE Shiller PE 29, all time high. If add goodWill that will be written of, options grants not accounted for and debt the PE. May be the highest evrer in the stock mkt history.
    -- everone is buying the index so risk concentration is very high. 10 companies make up 25-30% of the mkt cap. APPL 600B, xom 460B, Goog 390B, msft 350B and so on. All of them are highly price in terms of future growth, they cannot grow at 15% -25% for sure that's what the PE indicates. These are in almost make a big chunk of the efts.
    -- Margin debt all time high 600Billion.
    -- leverage again all time high.
    -- trading Volumes very Low most of the trading is done via algos. Only way they makes money is squeezing shorts. So do not short the mkt.
    -- national debt all time high 19 trillion.
    -- muni debt close to all time high.
    -- inflation is higher than Feds state, look at food, health, oil, education, housing anything is almost doubled in the last 10 years.
    -- people should start saving in cash both bonds and stocks are over valued. Good time to exit and sit tight until the year end.
    -- corporates are issuing debt to buy high priced stocks. This does not change the state of the company. Growth rates are close to 2% but expectations are 5-10 times that. Not going yo happen.
    8 Jul, 09:11 PM Reply Like
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