“While I am a big fan of ETF’s, I worry when I see enormous growth in a security or theme and always think about unintended consequences of that growth. I hope I am wrong on my hypothesis, but I’ve experienced many crashes and the underlying mechanics of investor panic generally do not change.”
Category: ETF
Behold! One More Way ETFs Are Distorting Markets
“The key takeaway here is that, since mid-2014, the average daily turnover on large capital structures has notably increased relative to smaller capital structures. The increase appears to have coincided with the uptick in the ETF flow volatility.”
3 Weekend ETF Charts: Any Questions?
Two of this week’s most popular posts were about ETFs. Which isn’t surprising because after
Am I Wrong About ETFs Being “Financial WMDs”? Goldman Says “Probably”
“If investors in these vehicles seek to withdraw at the first sign of trouble, then this demandable equity will have the same fire-sale-generating properties as short-term debt.â€
I Really – Really – Don’t Think This Is A Good Idea: ETF Edition
Regular readers know I have very serious reservations about the rampant proliferation of ETFs. In
Here We Go Again: The ETF “Volume” Fallacy
Here we go again. We do not pretend to be ETF sponsors (we’re not) and
For The First Time Outside Of A Bear Market, Fund Closures Exceed Launches
“Managers should not hope for a ‘cyclical return to flavour’ for a fund.”
Are Carl Icahn, Howard Marks, And Heisenberg All Wrong About ETFs?
If there has ever been a moment where we’re tempted to apply the “famous last
“Where The Wild Flows Are”: Equity Funds See Largest Inflow In 13 Weeks Before Fed
There’s been no shortage of discussion this year about flows into US equities. Over the past
Chart Of The Day: Rise Of The “Dumb” Money
So as with all passive ETF posts, we have to put the word “dumb” in
Yes, I’ll Take “Vanilla” Please
A lot of people are talking about ‘Sharon‘ this month. For those new to Heisenberg,
Rise Of The “Dumb” Money In One Chart
Dear active managers…
An ETF Disaster Waiting To Happen
I’m a broken record on a whole lot of things and corporate bond market liquidity
What Happens When You Have To Play That Piano Drunk? Or, The Most Absurd Thing I Heard All Day
You’re really good on the piano. I mean, when it comes to the black and
Chart Check (I’ll “Pass”)
“Great rotation”…
2016: The Year In Charts
Well, it’s been an interesting year. What started out as nothing short of a disaster
Jack Bogle: Beware The Meteoric Rise Of ETFs
You know, ETFs aren’t as safe as they may seem. This became readily apparent in
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