Vicks are Trading

One of the VIX ETNs is up and running. The one month VIX futures ETN has ticker VXX and the five month VIX futures ETN was supposed to have ticker VXY but that is not working on Yahoo or Schwab. If anyone knows anything about what is supposed to be VXY, please leave a comment. UPDATE UPDATE The five month version has ticker VXZ. My bad. VXX (the shorter one) has a lot more volume than...

Vicks are Trading

One of the VIX ETNs is up and running. The one month VIX futures ETN has ticker VXX and the five month VIX futures ETN was supposed to have ticker VXY but that is not working on Yahoo or Schwab. If anyone knows anything about what is supposed to be VXY, please leave a comment. UPDATE UPDATE The five month version has ticker VXZ. My bad. VXX (the shorter one) has a lot more volume than...

Comment Thread

There was an odd comment thread on on yesterday’s rather innocuous post about another blogger’s theories about portfolio construction. Seemingly out of nowhere came some anti-financial market, anti-advisor and anti-blogger sentiment. Some of the comments; It seems all you “advisors” have this basic assumption that a “financial portfolio” is needed? The “stock market” is a fools game created to steal your money. Top down may have worked this time, but has it always? Most of these blogs remind me of a daily racing form you get at the horse track… It is gambling! Wow that is some dourness and I probably resemble some of those remarks (blogger and advisor). First off, after months and months of stock market declines it makes sense to expect that many people will be emotionally weary. Comments like the ones above belie that weariness. The folks leaving those comments might be inclined to tell me to hit the bricks but but for anyone not inclined to compare stock market content to a racing form they might benefit from recognizing the emotion exhibited by other people which in turn might prevent them from letting their own emotions get the best of them. I was having a conversation with someone on Wednesday and I said the biggest threats to a successful financial plan are poor decisions and poor performance (it only takes one of those to derail a financial plan). People have more control over their decisions than their portfolio results. One source of poor decisions is letting emotion dictate portfolio action as opposed to logic. This is not to say that by remaining logical you...