A NOTE FROM BOB
There have been large inflows into plain-vanilla equity ETFs this year (think S&P 500 funds), and part of the action recently appears to be Reddit and crypto traders licking their wounds over recent declines in their favorite stocks. Maybe they will turn into long-term investors. Let's hope.
ETF flows do show the active trading crowd a little spooked in the past few weeks while buy-and-holders are unfazed (just like every market spasm over the last 10+ years).
A different way to look at bitcoin and NFTs: it's more like the art market than the stock market. Both rely on scarcity and hype, they are more like collectibles. Interesting thought piece.
Our friends at Procure are rolling out the LGBTQ + ESG100 ETF (LGBT) targeting companies that exhibit strong financial performance, have good overall ESG characteristics and are supportive of the LGBTQ community.
The biggest transportation ETF is changing, in a big way. The iShares Transportation Average ETF (IYT) will be undergoing a significant renovation this summer, going to a market cap-weighted index and adding companies like Lyft and Uber. This will not be the Dow Jones Transportation Index!
I thought QQQ already had a lot of momentum stocks. ProShares launched the ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA), the first ETF focusing on 21 Nasdaq-100 stocks identified as having the greatest potential to outperform.
Here's an odd tweet. The SEC tweeted out this week: "It's never a good idea to invest in something just because someone famous says it's a good investment." The SEC linked to a 2017 piece on their website warning about celebrity endorsements.
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