Battlebots

PowerShares' DBA and DBC: The New Originals

The new DBA goes to 11.

Why Investor Money Is Flowing to Foreign and Emerging Bond ETFs

Emerging market bond ETFs (EMB & PCY) only hold USD denominated EM bonds. So, there's no local currency play there. I'd love to see a local currency EM sovereign bond ETF (to capture both the asset class and non-USD exposure), but not aware of anything in the works.

Why It's Time to Consider Junk Bond ETFs

Can you consider HY without delving into expected default and recovery rates? Or is this just a momentum play?

Trend Following CTAs: No Panacea

Opps....that was for Value Investor.

Trend Following CTAs: No Panacea

Michael - check out Rydex Managed Futures Fund (RYMFX), which tracks the S&P Diversified Trends Indicator.

Hedge Fund Unwinding Is Still Driving This Train

It is market-wide, but hedge funds are providing most kindling for the de-leverage bonfire. Unlike traditional asset managers, HFs are...
(1) leveraged ($2T industry x 4(ish) leverage)
(2) account for 25-50% daily trading volumes
(3) unable to anticipate redemptions as well as traditional mgrs...forcing rapid HF de-leverage to avoid redemption fire-sales.
(4) more exposed to OTC events (such as LEH CDS settlement today) and prime brokerage shocks, providing more rationale to de-leverage.

Yes, leverage is coming down and HFs sitting on more cash, but there's a reasonable chance that this bonfire continues to burn for awhile.