November 2, 2016

Leveraged ETF's may lead to underperformance over longer time periods

As I have repeatedly written, leveraged ETFs are for trades and not for long-term leases. (Rebalancing is value-destructive and leads to premium decay and poor tracking over lengthier periods of time).

I remain in an opportunistic trading mode (witness Amazon and others) in an attempt to ring the register more frequently in a market filled with uncertainties.

So sorry, Hayden, Rubin and Hoffman--less SDS, less anarchy and a reduced exposure.

Position: Long SDS small