February 2007
Are Exchange-Traded Notes A Passing Fad, Or The Start Of Another Revolution?
By James Picerno
In the beginning, there was the closed-end fund. Next came
the open-end mutual fund, followed by the exchange-traded fund
(ETF). And now, the exchange-traded note (ETN). Are we witnessing
the next leg of the investment revolution? Will ETNs take investors
where ETFs fear to tread? Do ETNs represent the final frontier of the securitized investment portfolio?
Continue reading "NOTABLE DEBUT" »
February 2007
Michael Krause makes a case for fundamental analysis of ETFs
By James Picerno
Exchange-traded funds don’t lack for analysis, although
precious little of it focuses on associated fundamentals like
earnings growth and changes in book value relative to price.
Michael Krause thinks that’s a mistake. Filling the vacuum is
“job one” at AltaVista Independent Research (altavista-research.
com), a boutique research outfit in New York where Krause, as
president and founder, toils over ETF fundamentals for the benefit
of his subscribers.
Continue reading "BACK TO BASICS" »