ETF Exchange Traded Funds (ETFs) 2019

Discussion in 'Shares & Funds' started by Redwing, 10th Jan, 2019.

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  1. Nodrog

    Nodrog Well-Known Member

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    Nodrog, 26th Mar, 2019
    #41
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  2. oracle

    oracle Well-Known Member

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    Who wants to take a bet. Before @Nodrog turns 70 he would be bored of simplification and part of natural progression as a result of ongoing learning and not being so stubborn in relation to past beliefs would have sold all his LICs/ETFs and moved back into residential property investing.

    Cheers,
    Oracle.
     
    oracle, 26th Mar, 2019
    #42
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  3. MWI

    MWI Well-Known Member

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    Love this quote, just wrote it in my journal, as I never heard of it before, thank you!
     
    MWI, 26th Mar, 2019
    #43
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  4. Nodrog

    Nodrog Well-Known Member

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    Well senility can do strange things to us as we age. Be afraid, very afraid.

    D8F3C4A3-F0C1-4094-AD64-7D88F8D3A265.gif

    PS: Didn’t you mother tell you it is rude to pick on geriatrics.
     
    Nodrog, 26th Mar, 2019
    #44
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  5. ChrisP73

    ChrisP73 Well-Known Member

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    Apologies in advance for being a pedant.

    William Arthur Ward
     
    ChrisP73, 26th Mar, 2019
    #45
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  6. MWI

    MWI Well-Known Member

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    Thank you for that since I wrote in my most important journal!
    I also looked up some of his other quotes....
     
    Last edited: 26th Mar, 2019
    MWI, 26th Mar, 2019
    #46
  7. Redwing

    Redwing Well-Known Member

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    The Pedants revolt :D

    upload_2019-3-27_9-29-3.png
     
    Redwing, 27th Mar, 2019
    #47
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  8. ChrisP73

    ChrisP73 Well-Known Member

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    Pedantry and mastery are opposite attitudes toward rules. To apply a rule to the letter, rigidly, unquestioningly, in cases where it fits and in cases where it does not fit, is pedantry ... To apply a
    rule with natural ease, with judgment, noticing the cases where it fits, and without ever letting the words of the rule obscure the purpose of the action or the opportunities of the situation, is mastery”. -George Polya, mathematician (13 Dec 1887-1985)
     
    ChrisP73, 28th Mar, 2019
    #48
  9. pippen

    pippen Well-Known Member

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    pippen, 28th Mar, 2019
    #49
  10. Redwing

    Redwing Well-Known Member

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    @pippen

    $200 bn is apparently the number of trades failing to settle on average per day in the US market from a 2011 article link

    I also saw this review of your posted 2012 paper, its all a bit kray-kray

    When fails-to-deliver prompt stock market under performance

    Some excerpts below

    Academic research on short-selling has for years flirted with the theory that fails-to-deliver represent a binding constraint which prevents informed short-selling in the underlying stock, which thus leads to stock overvaluation.

    Without the capacity to short-sell efficiently, stocks become illiquid, volatile and overpriced. Or so the theory goes.

    Thomas Stratman and John W. Welborn, both of George Mason University, beg to differ. In a new piece of research in the Journal of Empirical Finance, they suggest the exact opposite may be true precisely because the capacity to fail-to-deliver can be used as a proxy for naked short-selling.

    and

    But the real crux of the authors’ argument is that FTDs equate to a unique type of naked short-selling (a.k.a selling stock without owning, borrowing or locating the stock first). So, rather than being a means for “uninformed” short-selling, these naked short sales are intended for the sole purpose of creating loanable inventory for informed short sellers (through the broker dealer network).

    This matters because the conventional criticism of naked short selling is that it makes it too cheap to sell short, encouraging uninformed speculation rather than informed price discovery.

    If FTDs are indeed a function of increased informed short-selling, rather than a byproduct of short-selling constraints, then FTDs could be a cause of abnormal negative returns in markets or stock price depression, rather than the opposite.
     
    Redwing, 29th Mar, 2019
    #50
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  11. pippen

    pippen Well-Known Member

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    Interesting!

    Just thought i would send the link as this is the paper PT has mentioned and why he doesnt like etfs based on short selling, liquidity etc etc!
     
    pippen, 29th Mar, 2019
    #51
  12. Redwing

    Redwing Well-Known Member

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    Peter's old school and has some issues with some of the exotic ETF's (rightly so)
     
    Redwing, 30th Mar, 2019
    #52
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  13. SatayKing

    SatayKing Well-Known Member

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    I can get that. I think some of Vanguards do the short selling but I'm not sure.

    I did look at a few iShares once and had to trawl through the Australian prospectus which led me to the American one which I recall stated up to a third may be subject to short selling. Long time ago so I could be widely off with the memory.

    The derivative stuff I leave well alone or at least I try too. Be pretty easy to get into it without being fully aware of it I suppose.
     
    SatayKing, 30th Mar, 2019
    #53
  14. Redwing

    Redwing Well-Known Member

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    News

    Vanguard Australia is lowering the fees on its $1.5 billion Vanguard All-World Ex-US ETF (VEU) from 0.11% down to 0.09%.

    “VEU has seen continued strong cash flow and asset growth. Coupled with operational efficiencies that have led to lowering the cost to serve our clients, Vanguard has been able to reduce the expense ratio for VEU” Vanguard said
     
    Redwing, 11th Apr, 2019
    #54
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  15. Nodrog

    Nodrog Well-Known Member

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    Last edited: 11th Apr, 2019
    Nodrog, 11th Apr, 2019
    #55
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  16. Redwing

    Redwing Well-Known Member

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    Need to get onto Change.org or Get Up :D

    upload_2019-4-11_8-13-18.png
     

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    Redwing, 11th Apr, 2019
    #56
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  17. Nodrog

    Nodrog Well-Known Member

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    Maybe better to use DJRE for unhedged Global Property anyhow as it adds to Mgr diversification. Probably silly but I don’t want to end up with near everything in Vanguard especially given the amount involved.
     
    Nodrog, 11th Apr, 2019
    #57
  18. ChrisP73

    ChrisP73 Well-Known Member

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    ChrisP73, 14th Apr, 2019
    #58
  19. pippen

    pippen Well-Known Member

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    Last edited: 18th Apr, 2019
    pippen, 18th Apr, 2019
    #59
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  20. KateSydney

    KateSydney Well-Known Member

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    KateSydney, 18th Apr, 2019
    #60
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