China Sector ETFs To Arrive Tomorrow

Probably. I was advised that the GlobalX China Consumer ETF (CHIQ) and the GlobalX China Industrial ETF (CHII) will start trading on December 1. An initial look under the hood makes a good first impression in terms of these capturing what I had hoped they would when I first mentioned the filing–that is the story on the ground without being dominated by the same old megacaps we’ve all known for years. For a little JR high humor I will avoid China Yurun Food Group which has a large weighting in CHIQ. I will have more on these later in the week. On another note we had a little wildfire here today (for anyone local it was on the way to Potato Patch). It was a tiny fire in a massive pile of wood chips or perhaps it was mulch. It had been smoldering, apparently, for a day or two making the rocks under and near the pile very hot. It was a lot of work turning everything over, including the rocks, to cool them off with water. We then had to shovel through the entire pile of chips to make sure it all got wet. I love the task of fighting a fire, it is very wearying work that really makes you feel like you’ve done...

China Sector ETFs To Arrive Tomorrow

Probably. I was advised that the GlobalX China Consumer ETF (CHIQ) and the GlobalX China Industrial ETF (CHII) will start trading on December 1. An initial look under the hood makes a good first impression in terms of these capturing what I had hoped they would when I first mentioned the filing–that is the story on the ground without being dominated by the same old megacaps we’ve all known for years. For a little JR high humor I will avoid China Yurun Food Group which has a large weighting in CHIQ. I will have more on these later in the week. On another note we had a little wildfire here today (for anyone local it was on the way to Potato Patch). It was a tiny fire in a massive pile of wood chips or perhaps it was mulch. It had been smoldering, apparently, for a day or two making the rocks under and near the pile very hot. It was a lot of work turning everything over, including the rocks, to cool them off with water. We then had to shovel through the entire pile of chips to make sure it all got wet. I love the task of fighting a fire, it is very wearying work that really makes you feel like you’ve done...

Never Mind?

So after the big standstill news last week from Dubai the UAE Central Bank is going to provide a liquidity facility to help support the banks in Dubai and instill confidence for foreign banks in the region. Apparently property prices have plunged and from what I can glean this will not eliminate pain and losses but will allow things to function. The idea here appears to be showing that despite the news there is liquidity for banks to function. Extraordinary measures like liquidity facilities, debt monetization and the associated acronyms are very polarizing. These things seems to both prevent the complete collapse of the entire financial system while at the same time creating a moral hazard whereby we privatize gains and socialize losses with no consequences for incompetence. Unfortunately neither side jibes with reality, IMO. I think that taking a pound the table stand here requires believing that the proper regulatory framework was in place that promoted reasonable use of leverage, prudent lending standards and proper oversight of all the other things that went wrong. Most people seem to now realize that the proper framework was not in place and many people doubt that congress is on the right path to creating a proper framework. We’ve heard Obama and others talk about making sure this never happens again which if that is what they are really focused on means we will not get a proper framework but instead will get something aimed at preventing the 2007 crisis. Before going on let me just say I am not trying to turn this post into a left right debate. The President...

Never Mind?

So after the big standstill news last week from Dubai the UAE Central Bank is going to provide a liquidity facility to help support the banks in Dubai and instill confidence for foreign banks in the region. Apparently property prices have plunged and from what I can glean this will not eliminate pain and losses but will allow things to function. The idea here appears to be showing that despite the news there is liquidity for banks to function. Extraordinary measures like liquidity facilities, debt monetization and the associated acronyms are very polarizing. These things seems to both prevent the complete collapse of the entire financial system while at the same time creating a moral hazard whereby we privatize gains and socialize losses with no consequences for incompetence. Unfortunately neither side jibes with reality, IMO. I think that taking a pound the table stand here requires believing that the proper regulatory framework was in place that promoted reasonable use of leverage, prudent lending standards and proper oversight of all the other things that went wrong. Most people seem to now realize that the proper framework was not in place and many people doubt that congress is on the right path to creating a proper framework. We’ve heard Obama and others talk about making sure this never happens again which if that is what they are really focused on means we will not get a proper framework but instead will get something aimed at preventing the 2007 crisis. Before going on let me just say I am not trying to turn this post into a left right debate. The President...

Hussman Posted Early

Hussman Funds – Weekly Market Comment And the money quote; Frankly, I’ve come to believe that the markets are no longer reliable or sound discounting mechanisms....