Internet2k4

Crude ETF Critics and The MacroShares Affair

I've successfully "flipped" USO a couple of times as a short-term proxy for NYMEX crude but have never quite trusted it for long-term investment in oil because my impression was that its price would be the current contract price and that something unknown was going on - now it's said that direct price correspondence is "impossible" (?) Generally, I'm thankful for something, even if less than ideal, that allows me to exploit the wild and woolly daily oil news headlines when I'm so inclined. Regarding Claymore, if NAV doesn't perform or if there is any significant discrepancy of NAV to market price, I'd be more curious about the filing and review process that is supposed to vet - and in fact very often delays for some time - an ETF before it is listed for trading. What's the regulatory review for if not to be sure the ETF will do what's promised?