In Plus Episode 334 for the week of March 13, 2021, we analyze the Horizon Kinetics Inflation Beneficiaries ETF (INFL) and how it seeks to protect against inflation including holding royalty trusts. We look at how inverse ETFs work and under what circumstances might they be used. Finally, we analyze earnings yields relative to bond yields including the Excess CAPE Yield, and what conclusions can we draw when stock earnings yields are higher than bond yields and vice versa. 334 … [Read more...]
277: How ETFs are Changing
How regulatory changes could lead to a boom in new ETFs, including actively managed ETFs. Why ETFs continue to be one of the most innovative, cost-effective and tax-efficient investment vehicles. “Exchange-traded products are among the most significant financial innovations in recent decades and have shaped financial markets as we know them today,” said Michael S. Piwowar, former Commissioner of the U.S. Securities and Exchange Commission. The growth in exchange-traded products … [Read more...]
247: More Indexes, ETFs and Manager Skill, but Less Alpha
How the increase in indexing is leading to the creation of more stock indexes, most of which are used by active managers. How more indexing makes it more difficult for active managers to outperform even though managers are getting more skilled. In this episode you’ll learn: Why there are so many more stock indexes than stocks.Who are the major index players and how do they decide what to include in an index.Why it is important to understand how an index is constructed.Why more … [Read more...]
