w*w
发帖数: 546 | 1 The largest gold ETFs and ETNs include:
SPDR Gold Shares (NYSEArca: GLD)
iShares Gold Trust (NYSEArca: IAU)
ETFS Physical Swiss Gold Shares ETF (NYSEArca: SGOL)
ETFS Physical Asian Gold Shares ETF (NYSEArca: AGOL)
PowerShares DB Gold Fund (NYSEArca: DGL)
RBS Gold Trendpilot ETN (NYSEArca: TBAR)
ETRACS CMCI Gold ETN (NYSEArca: UBG)
Gold miner ETFs include:
Market Vectors TR Gold Miners ETF (NYSEArca: GDX)
Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ)
... 阅读全帖 |
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b*******b
发帖数: 613 | 2 I guess your cite is from the prospectus of some levered VIX ETN. In such
case, "The long term expected value of your ETNs is zero." refers to the
compounding return decay effect.
Meanwhile, ETN investors also bear the default risk of the debt issuer,
which could also result in substantial losses to investors. This type of
risk applies to all ETNs, levered or unlevered.
as |
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M********n
发帖数: 4650 | 3 This is from "Supplement to Pricing Supplement dated 09/03/2013":
"The long term expected value of your ETNs is zero. If you hold your ETNs as
a long term investment, it is likely that you will lose all or a
substantial portion of your investment. The ETNs are not linked to the VIX
Index" |
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M********n
发帖数: 4650 | 4 比如UVXY是ETF，TVIX是ETN
是不是ETN这种东西最终就是归零的？ETF是不是没有这种危险？ |
|
b*******b
发帖数: 613 | 5 ETN其实是一个unsecured debt derivative，就像个total return SWAP，
和ETF比较，最大区别是有counter-party risk，但是track error相对较小。
不知道你指的“ETN这种东西最终就是归零的”是什么意思。是说某个financial
institution最终会bankrupt？ |
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M********n
发帖数: 4650 | 6 So anyway, shorting ETN is always a good move....but do we have an ETN that
is the reverse of TVix that we can short in bare market? |
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x****9
发帖数: 2668 | 7 如今就很难借到DWTI short
So anyway, shorting ETN is always a good move....but do we have an ETN that
is the rever........ |
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g***c
发帖数: 11523 | 8 ETF买油资产
ETN只交易futures
但ETF有很多额外费用，
ETN反而费用很低
这里说的不是2*, 3*
只比较OIL和USO
USO理论上不应该有decay，但你去比较一下和油的regression，还是有很大的decay的 |
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S*******s
发帖数: 13043 | 9 【 以下文字转载自 Investment 讨论区 】
发信人: StarVenus (参商*田园将芜), 信区: Investment
标 题: 谁能来科普一下ETF、ETN?
发信站: BBS 未名空间站 (Sat Nov 1 04:35:09 2008)
他们大都联系一个指数或是期货，比如QQQQ就是纳斯达克100，GLD就是黄金价格。可是
他们本身也在交易，是谁保证在市场中不断变化的价格不互相背离呢？比如假设纳斯达
克指数不断的上涨，可是没有人愿意在交易所里出高价买QQQQ，甚至有大单在往下打压
QQQQ的价格，谁来把QQQQ的价格抬高呢？
举个例子，IYM是Dow Jones U.S. Basic Materials index, UYM是twice the daily
performance of the Dow Jones U.S. Basic Materials index，今天两个ETN的日、三
个月、一年的变化分别是 1.43%、2.41%,-45.59%、-74.85%，-45.47%、-80.03%，我真
是看不出twice的关系。
bearish的ETF/E |
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I******d
发帖数: 43 | 10 准备加仓agriculture commodity (RJA)。以前在这里和大家讨论过Contango Vs.
Backwardation，很受启发。最近一点research，发现很多agr commodity实质上是ETN,
而不是ETF。也就是实质上是去买了issuer（RJA的issuer 是swedish export credit
corporation)的debt，然后issuer再去track index。这样的话好像多了issuer
insolvent然后无法redeem debt带来的风险。想long term buy/hold。不知道大家有没
有这个顾虑。 |
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o*******r
发帖数: 750 | 11 ETN is exchange traded notes
Usually tracks index more efficiently
But volume is smaller |
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M********n
发帖数: 4650 | 12 Compounding decay effect (Contango) is not specifically to ETN, ETFs such as
FAS also has decay. |
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t***l
发帖数: 3644 | 13 TVIX和UVXY的return基本一样这点你去看看他们ratio graph就知道了。唯一区别是前
者用VIX futures option来replicate return，后者直接用futures。
ETN有issuer破产风险，但TVIX是credit suisse发的，基本可以算是没default风险。
报税的时候TVIX会有好处。
权衡利弊我会选择short TVIX。 |
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j******n
发帖数: 2644 | 14 请问ETN有什么风险？存不存在类似期货的爆仓风险？谢谢。 |
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W****r
发帖数: 138 | 15 只要不用Margin就不会爆仓。
ETN的风险在于耗损。是一个很好的短期工具，不要长期持有。相反，期货你放很多钱
可以长期。还有本身是Debt，有信用风险。
以上个人意见。 |
|
g***c
发帖数: 11523 | 16 直接买futures当然最好
但普通人的问题是太贪婪
1:100杠杆的futures很容易让人产生幻觉
到最后只有一个结果，吃屎
买ETN/ETF最多1:4杠杆，风险小很多 |
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W****r
发帖数: 138 | 17 ETN不买任何future，只跟踪某个指数（当然基本就是石油价格）。不过为了risk
management怎么操作就不知道了。 |
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g*******e
发帖数: 3013 | 18 Uso有contango
[在 gsbac (paulson & co) 的大作中提到：]
：ETF买油资产
：ETN只交易futures
：........... |
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S*******s
发帖数: 13043 | 19 投资者怀疑指数本身，还是怀疑各个ETN对指数的tracking? |
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S******t
发帖数: 8388 | 20 (A couple of these haven't started trading yet and a few
just started trading and therefore don't have much volume yet,
but special mention should be made for the new 300%
Russell ETFs which will make great trading vehicles once
volume picks up.) **trader168-David Liu**
US Indexes
DIA Dow30
DDM Dow30 2x long
DOG Dow30 short
DXD Dow30 2x short
ONEQ Nasdaq
QQQQ Nasdaq100
QLD Nasdaq100 2x long
PSQ Nasdaq100 short
QID Nasdaq100 2x short
OE... 阅读全帖 |
|
y***q
发帖数: 4147 | 21 【 以下文字转载自 Stockcafeteria 俱乐部 】
发信人: ShortCut (总想偷懒), 信区: Stockcafeteria
标 题: Re: 底部探明了没有？？？
发信站: BBS 未名空间站 (Thu Jun 10 11:40:46 2010, 美东)
过去收藏的:
US Indexes
DIA Dow30
DDM Dow30 2x long
DOG Dow30 short
DXD Dow30 2x short
ONEQ Nasdaq
QQQQ Nasdaq100
QLD Nasdaq100 2x long
PSQ Nasdaq100 short
QID Nasdaq100 2x short
OEF SP100
IOO SP100 Global
SPY SP500
SSO SP500 2x long
SH SP500 short
SDS SP500 2x short
IVV ... 阅读全帖 |
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s*******e
发帖数: 432 | 22 Symbol subType description
VIXM ETV ProShares VIX Mid-Term Futures ETF
VIXY ETV ProShares VIX Short-Term Futures ETF
XVIX ETN UBS AG Exchange Traded Access Securities (E-TRACS) Daily Long
-Short VIX ETN due November 30, 2040
TVIZ ETN VelocityShares Daily 2x VIX Medium Term ETN
TVIX ETN VelocityShares Daily 2x VIX Short Term ETN
ZIV ETN VelocityShares Daily Inverse VIX Medium Term ETN
XIV ETN VelocityShares Daily Inverse VIX Short Term ETN
VIIZ E... 阅读全帖 |
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s***m
发帖数: 6197 | 23 BGU - Direxion Daily Large Cap Bull 3X Shares
BGZ - Direxion Daily Large Cap Bear 3X Shares ETF
BUNT - PowerShares DB 3x German Bund Futures ETN
BXUB - Barclays Long B Leveraged S&P 500 Total Return ETN
BRZU - Direxion Daily Brazil Bull 3X Shares ETF
BRZS - Direxion Daily Brazil Bear 3X Shares
CURE - Direxion Daily Healthcare Bull 3X Shares ETF
CZI - Direxion China Bear 3x Shares ETF
CZM - Direxion China Bull 3x Shares ETF
DPK - Direxion Daily Devloped Markets Bear 3X Shares ETF
DRN - Direxion D... 阅读全帖 |
|
u********3
发帖数: 3785 | 24 市场真是千奇百态，什么事都可能发生。
市场消息人士周四(2月4日)称，本周油市之所以出现过山车行情，可能有部分是因为押
注油价下跌的6亿美元杠杆基金突然清盘所致。
空头赎回6亿美元三倍做空原油ETN，导演油价“过山车”
数据显示，在1月买入VelocityShares三倍做空原油交易所买卖票据(ETN)的一群不知名
投资者本周初赎回离场。
FactSet Research的数据显示，约有180万份价值逾6.02亿美元的票据被赎回，这是过
去一年中该ETN最大规模资金流出。
本次抛售显示出，上个月美国原油2003年以来首次跌至每桶26美元后，至少有一些大型
投资者在押注，历经了18个月的崩跌，油价最糟糕的境况已经结束。交易活动也跳升至
纪录高位。
FactSet的交易所上市基金(ETF)部门主管David Nadig指出，投机客正在退出油价熊市
，人们开始解除这些部位，因为他们认为已经从中好好赚了一笔。
上述这档ETN的反向追踪标的是标准普尔GSCI原油指数ER，而这个指数则是反映油市波
动。由于这档ETN提供投资人三倍曝险，因此，对应的原油期货所受到的冲击也遭到放... 阅读全帖 |
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v*******g
发帖数: 334 | 25 7 Ways to Short China's Real Estate Bubble
http://www.thestreet.com/story/11060147/1/7-ways-to-short-china
NEW YORK (Insider Monkey) -More than a year ago Jim Chanos raised questions
about China's enormous real estate and construction investments and stated
that he is shorting China's real estate bubble. "Bubbles are best identified
by credit excesses, not valuation excesses," he said on CNBC, adding, "And
there's no bigger credit excess than in China."
Chanos didn't specifically lay out how he ... 阅读全帖 |
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D*********t
发帖数: 5748 | 26
Definition of 'Exchange Traded Notes - ETN'
A type of unsecured, unsubordinated debt security that was first issued by
Barclays Bank PLC. This type of debt security differs from other types of
bonds and notes because ETN returns are based upon the performance of a
market index minus applicable fees, no period coupon payments are
distributed and no principal protections exists.
Investopedia Says
Investopedia explains 'Exchange Traded Notes - ETN'
The purpose of ETNs is to create a type o... 阅读全帖 |
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s******d
发帖数: 323 | 27 broad:
RJI (ETN): Rogers International Commodity Index, include 36 commodities, 34%
agriculture, 21% metal, 44% energy
GSG, GSP (ETN): 75% energy
DJP (ETN): 33% energy
DBC: 6 commodities only, 55% energy
Agriculture:
RJA (ETN), DBA, MOO
Difference: RJA has 20 items, DBA has 4. MOO has stock shares in commodity-
producing companies instead.
Energy:
RJN, USO, OIL
Metals:
GLD, IAU, SLV, RJZ (ETN)
Caveat: ETN (Exchanged Traded Note) may have extra credit risk, and I'm not
sure how it is taxed..
comm |
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s*******n
发帖数: 347 | 28 BOSTON, MA -- (Marketwire) -- 07/11/12 -- Shareholder Rights Law Firm Gilman
Law LLP announces that another class action lawsuit has been commenced in
the District Court for the Southern District of New York against Credit
Suisse on Behalf of Investors in TVIX Exchange Traded Notes (TVIX ETN) (NYSE
Arca: TVIX). Investors who purchased or otherwise acquired shares in TVIX
between November 30, 2010 through and including March 22, 2012 (Class Period
), may have a claim to recover their losses in TV... 阅读全帖 |
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C*******r
发帖数: 10345 | 29 这是要把投机客全部歪炮的节奏了
UWTI Market Cap Continues to Grow
The world saw oil prices decline in 2014 and early 2015 on the heels of
record-level well productivity, advances in extraction techniques and a dip
in global demand for crude. Combine this with a relatively stronger dollar,
and American consumers have received a huge break at the pump. Commodity
investors haven't been as ecstatic; crude prices declined nearly 60% over
the course of one year. In spite of this, one exchange-traded note (ETN)
contin... 阅读全帖 |
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m******6
发帖数: 6262 | 30 see my comments below.
the ETF should be backed by physical gold, and should track the price
closely minus some fees.
some may have leverage, double or whatever, you need to look into it.
买黄金实物 or real coins, you not only capture the price appreciation of the
gold, you also enjoy the rarity of some coins, so you may get more return.
you can buy 实物黄金，但又不想抱回家, you can put in goldcoin (巴依老爷)'s
home. he will take care of it for you.
there are some of them, the one i own is IAU.
Gold ETF List
... 阅读全帖 |
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m******6
发帖数: 6262 | 31 see my comments below.
the ETF should be backed by physical gold, and should track the price
closely minus some fees.
some may have leverage, double or whatever, you need to look into it.
买黄金实物 or real coins, you not only capture the price appreciation of the
gold, you also enjoy the rarity of some coins, so you may get more return.
you can buy 实物黄金，但又不想抱回家, you can put in goldcoin (巴依老爷)'s
home. he will take care of it for you.
there are some of them, the one i own is IAU.
Gold ETF List
... 阅读全帖 |
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d****s
发帖数: 117 | 32 Goldman Sachs Crude Oil Total Return ETN (OIL)
MacroShares Oil Down ETF (DOY)
MacroShares Oil Up ETF (UOY)
PowerShares DB Crude Oil Double Long ETN (DXO)
PowerShares DB Crude Oil Double Short ETN (DTO)
PowerShares DB Crude Oil Long ETN (OLO)
PowerShares DB Crude Oil Short ETN (SZO)
PowerShares DB Oil Fund (DBO)
ProShares Ultra DJ-AIG Crude Oil ETF (UCO)
ProShares UltraShort DJ-AIG Crude Oil ETF (SCO)
United States 12 Month Oil Fund (USL)
|
|
g****8
发帖数: 1580 | 33 得令，无脑爆乳：
Direxion Financials Bear 3x ETF FAZ $13.55 (-0.15%) 6,468,200
Direxion Mid Cap Bear 3x ETF MIDZ $14.72 (-1.74%) 39,535
Direxion Small Cap Bear 3x ETF TZA $12.09 (-1.47%) 10,366,400
Direxion Energy Bear 3x ETF ERY $7.32 (+0.41%) 781,120
Direxion S&P 500 Bear 3x ETF SPXS $15.63 (-0.76%) 1,398,570
Direxion Technology Bear 3x ETF TECS $8.82 (-0.45%) 236,478
Direxion Emerging Markets Bear 3x ETF EDZ $8.91 (-1.11%... 阅读全帖 |
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j*******i
发帖数: 1457 | 34 An ETN’s closing indicative value, as well as its intraday indicative value
, are distinct from an ETN’s market price, which is the price at which an
ETN trades in the secondary market. In theory, an ETN’s market price should
closely track its closing and intraday indicative values. However, an ETN’
s market price can deviate, sometimes significantly, from its indicative
value.
我不知道你让我读什么，因为你想让我读的我都读过了，我只好找一段 洋人写的文字
我说就是market price，我当然可以操控，有什么不对吗？ |
|
j*******i
发帖数: 1457 | 35 Did you answer?
An ETN’s closing indicative value, as well as its intraday indicative value
, are distinct from an ETN’s market price, which is the price at which an
ETN trades in the secondary market. In theory, an ETN’s market price should
closely track its closing and intraday indicative values. However, an ETN’
s market price can deviate, sometimes significantly, from its indicative
value.
我不知道你让我读什么，因为你想让我读的我都读过了，我只好找一段 洋人写的文字
我说就是market price，我当然可以操控，有什么不对吗？ |
|
y*****l
发帖数: 5997 | 36 金银有很多ETF可以买卖啊，long/short, 1X/2X都行，看多时买正指，看空时买反指。
2X银子AGQ最近上下波动很刺激。
http://finviz.com/screener.ashx?v=341&t=AGQ,ZSL
streetTRACKS Gold Shares ETF (GLD)
iShares Silver Trust Fund (SLV)
PowerShares DB Silver Fund (DBS)
E-TRACS CMCI Gold ETN (UBG)
E-TRACS CMCI Silver ETN (USV)
PowerShares DB Gold Fund (DGL)
PowerShares DB Gold Short ETN (DGZ)
2X PowerShares DB Gold Double Long ETN (DGP)
2X↓ PowerShares DB Gold Double Short ETN (DZZ)
2X ProShares Ultra... 阅读全帖 |
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m*****P
发帖数: 1331 | 37 总结了一下下文中提到的几个
做空的ETF
EPV 2倍杠杆 跟踪MSCI Europe Index 波动相对下面两个大
EUO DRR 也是两倍杠杆 两者趋势差不多 波动相对EPV小 因为跟踪的是currency
其他可以自己short的ETF 包括（文中提到的）
EUFN VGK 还有针对某个国家的 BUNL ITLY
还有楼下朋友nothintomind 提到的：
You could opt to short EWG (Germany), EWP (Spain), EWI (Italy), EWQ (
France)
==
做空欧洲的ETF：
http://www.indexuniverse.com/sections/blog/9911-shorting-europe
Related ETFs: EUFN / DRR / EUO / EPV / VGK / BUNL / ITLY
The European debt crisis is the financial story that refuses to go away, so
investors may as well figu... 阅读全帖 |
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d********1
发帖数: 3828 | 38 我还是第一次注意vxx，tvix都是etn，不是etf。
查了一下。etn是银行发行的，它们有双重的风险，一个是市场风险，一个是银行倒闭
的风险。etf只有市场风险。
etn是严格跟踪指数的，而etf只是接近跟踪。
etf一般有distribution，这些可能会realize gain，而需要缴税，而etn没有
distribution。所以可以一直推迟报税。 |
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S*******s
发帖数: 13043 | 39 After Tuesday’s regular trading session, Credit Suisse (CS) announced in a
brief press release that it has “temporarily suspended further issuances of
the VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) due to internal
limits on the size of the ETNs.” The company added that “this suspension
does not affect the Early Redemption rights of noteholders as described in
the pricing supplement. Other ETNs issued by Credit Suisse are not affected
by this suspension.”
The announcement by Credit Suisse... 阅读全帖 |
|
l**********o
发帖数: 1573 | 40 VelocityShares Daily 2x VIX Short-Term ETN (NYSE: TVIX [FREE Stock Trend
Analysis]) The level of controversy surrounding volatility ETNs is just too
much to make them worth embracing. Like leveraged ETFs such as the Direxion
Daily Financial Bull 3X Shares (NYSE: FAS), volatility ETNs like TVIX are
best left to the pros. When an ETN drops more than 12% in a single day in
part because its net asset value got a little rich, it's probably best to
leave this thing alone.
亏费了，还看不懂， 哪位大牛能通俗的解释一下
谢谢了 是不... 阅读全帖 |
|
B**********r
发帖数: 7517 | 41 我为什麽要说说这些呢？过去不到一个月VIX大跌，引起这些交易基金很大的波动。股
版也关注了。我在这里做点简单的定量分析，让大家知道它们的风险/回报，不至于做
些危险的操作。股版有些人是懂VIX的运作的，希望指正我说的不妥之处。如果不懂而
对我挖苦攻击的，请不必了，毕竟我是完全好意帮助大家。
1）VIX，VIX Futures
大家都知道VIX是衡量市场波动率的指数。它是一个导出指数derivative，根据S&P 500
指数后面30天的期权价格，经过换算而得出。VIX也经常被称为恐慌指数，因为市场的
大幅波动，是不确定性的表现，而对投资者产生畏惧心理。当然，理论上牛市也可以有
较高的VIX指数。
VIX指数本身是不可交易的，所以很多机构推出了一些机制（所以是derivative of
derivative），这些包括VIX futures定约，VIX指数期权，和基本的VIX futures交易
基金。这里VIX futures反映的是未来一段时间的VIX的期望值，可以是短期的1个月或
中期的半年。这些Futures其实跟VIX指数期权（也有1，2个月或半年的）的定价是一致
的。
VI... 阅读全帖 |
|
B**********r
发帖数: 7517 | 42 我为什麽要说说这些呢？过去不到一个月VIX大跌，引起这些交易基金很大的波动。股
版也关注了。我在这里做点简单的定量分析，让大家知道它们的风险/回报，不至于做
些危险的操作。股版有些人是懂VIX的运作的，希望指正我说的不妥之处。如果不懂而
对我挖苦攻击的，请不必了，毕竟我是完全好意帮助大家。
1）VIX，VIX Futures
大家都知道VIX是衡量市场波动率的指数。它是一个导出指数derivative，根据S&P 500
指数后面30天的期权价格，经过换算而得出。VIX也经常被称为恐慌指数，因为市场的
大幅波动，是不确定性的表现，而对投资者产生畏惧心理。当然，理论上牛市也可以有
较高的VIX指数。
VIX指数本身是不可交易的，所以很多机构推出了一些机制（所以是derivative of
derivative），这些包括VIX futures定约，VIX指数期权，和基本的VIX futures交易
基金。这里VIX futures反映的是未来一段时间的VIX的期望值，可以是短期的1个月或
中期的半年。这些Futures其实跟VIX指数期权（也有1，2个月或半年的）的定价是一致
的。
VI... 阅读全帖 |
|
P*C
发帖数: 6109 | 43 不知道aaddoo 大牛的UWTI 价格算法是真的做了研究还是自己拍脑袋想出来的
我简单看了一下 credit suisse 官方的说明文件 和 其他信息 简单说一下 我个人的
看法
UWTI 是三倍杠杆于追踪 标普 gsci crude oil index er.:spgsclp 的etn.
也就是说 uwti 的价格是追踪 spgsclp “值” 或者说“变化量”三倍的，而不是 变
化“率”的三倍的
首先etn 不是eft , etn 是一个issuer 和 买etn 人之间的承诺 UWTI issuer credit
suisse 承诺按照 scgaclp 某个固定比率值下的值 三倍给持有uwti 人payment的承诺.
说白
了就是俩人赌博，credit Suisse
没有任何实际资产投资。
就是说 比如某天
Spgsclp 为100
Uwti 300
明天 spgsclp 涨10%为 110
Credit Suisse 承诺的价格也就是UWTI 当前价格变为 330
第二天 spgsclp 跌 10%为 109
UWTI 价格变为 327。
比率仍然为3。
Note: cr... 阅读全帖 |
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s*****o
发帖数: 459 | 44 假设一个果农有有一堆苹果，苹果质量非常好，他打算卖100元一个，结果还是有价无
市。。。
那么他把价格降低1元一个，开始有人买苹果但买的人不多
好，他为了把苹果尽快卖掉，现在他降到0.1/一个，结果苹果一抢而空
问题是，苹果倒底应该值多少钱？0.1 还是1，还是1~100之间？这个问题没有人真正知
道。
我们所知道的是这个价格是可以人为定的，有人喜欢把最表面的东西当成终极真理，却
不去推理这些现象背后的机制是什么？
比方说，
1. 没有人能预先知道股票的价格，股市是完全efficient
（实际的情况是，你可能不知道，但价格一定是被预先设定的）
2. 加息美元就涨
（实际情况是美元已经涨了，可还没加息）
3. etn成交量不重要，因为etn的价格只跟对应商品价格有关
这就跟卖苹果的例子相似，苹果的价格不是随便跌的，不是不受人为控制的，价格便宜
到一定程度就会被一抢而空，果农就没有苹果卖了。跟苹果不同的是，etn在价格涨了
以后，大部分还要再回到MM手里。就好像你0.1卖了苹果，把苹果吃完了，再把吃剩的
烂苹果，苹果皮10元卖给MM，以你炒股的经验，你相信有这么好的MM吗？如果你也人为
... 阅读全帖 |
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y***r
发帖数: 16594 | 45 With this sluggish backdrop for the top consumer of copper, it shouldn’t be
too surprising to note that a trio of copper ETF options on the market have
been seeing weakness lately, and could continue to stumble in the weeks
ahead. Investors should definitely monitor these options, as they represent
easy ways for the average investor to tap into the copper market, and could
continue to see volatility in the months ahead should Chinese economic
picture remains cloudy:
iPath Dow Jones UBS Copper ET... 阅读全帖 |
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l*****e
发帖数: 3343 | 46 熊熊们清醒点儿，UVXY的走势下周出趋势，不要信安神和大湿
耐心最重要，一年才几次机会，所以要镇静，
==================================================
发信人: BullishSolar (康南), 信区: Stock
标 题: 有点时间，专门讲讲VIX系列的交易基金
发信站: BBS 未名空间站 (Sun Jan 27 16:35:03 2013, 美东)
我为什麽要说说这些呢？过去不到一个月VIX大跌，引起这些交易基金很大的波动。股
版也关注了。我在这里做点简单的定量分析，让大家知道它们的风险/回报，不至于做
些危险的操作。股版有些人是懂VIX的运作的，希望指正我说的不妥之处。如果不懂而
对我挖苦攻击的，请不必了，毕竟我是完全好意帮助大家。
1）VIX，VIX Futures
大家都知道VIX是衡量市场波动率的指数。它是一个导出指数derivative，根据S&P 500
指数后面30天的期权价格，经过换算而得出。VIX也经常被称为恐慌指数，因为市场的
大幅波动，是不确定性的表现，而对投资者产生畏惧心理。当然，理论上牛市也可以有
... 阅读全帖 |
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m*z
发帖数: 2356 | 47 Commodity ETFs
streetTRACKS Gold Shares ETF (GLD)
United States Natural Gas Fund (UNG)
United States Oil Fund (USO)
iShares Silver Trust Fund (SLV)
PowerShares DB Agriculture Fund (DBA)
2X↓PowerShares DB Agriculture Double Short ETN (AGA)
2X PowerShares DB Agriculture Double Long ETN (DAG)
2X↓PowerShares DB Gold Double Short ETN (DZZ)
2X PowerShares DB Gold Double Long ETN (DGP)
2X↓ProShares UltraShort DJ-AIG Crude Oil ETF (SCO)
... 阅读全帖 |
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m*z
发帖数: 2356 | 48 Dow Jones Industrial Average EFT List
Dow Diamonds ETF (DIA)
2X↓ProShares UltraShort Dow 30 Fund (DXD)
2X ProShares Ultra Dow 30 Fund (DDM)
S&P 500 EFT List
SPDR S&P 500 ETF (SPY)
2X↓ProShares UltraShort S&P 500 Fund (SDS)
2X ProShares Ultra S&P 500 Fund (SSO)
iShares S&P 500 Index Fund (IVV)
↓ProShares Short S&P 500 Fund (SH)
NASDAQ 100 EFT List
NASDAQ 100 Trust Shares ETF (QQQQ)
2X↓ProShares UltraShort QQQ Fund (QID)
2X ProSh... 阅读全帖 |
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a********c
发帖数: 3657 | 49
yeah, etn is created for institution to build structured product, not for
individual normal trading/investment. and etn is even worse than etf as with
etn you are an unsecured creditor of etf issuer. |
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u****n
发帖数: 7521 | 50 How To Profit From A Greek Default
No matter how much money is thrown at it, Greece can’t seem to solve its
problems. The European Commission recently predicted that its deficit would
reach 9.7% of GDP compared to the country’s own 7.6% projection this year.
These revelations led its credit default swaps to hit yet another record
high of nearly 4,000 basis points during the overnight session. So, how can
investors profit from this situation?
Short the Euro, but It’s a Little Risky
The natural re... 阅读全帖 |
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