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Bloomberg Intelligence-If Internet Bubble's a Guide, Peak Bitcoin Favors Gold
September 18, 2017--Potential Dollar, Bitcoin Peaks Revive Old-Guard Gold's Appeal
If the apex of the internet bubble is a guide, bitcoin has peaked. In a weak dollar and
cryptocurrency environment, old-guard gold should be a primary beneficiary, especially if inflation is finally
brewing. A mean-reverting CBOE Volatility Index (VIX) would be another pillar for gold. (09/15/17)
1. This Could Be It for Bitcoin Peak, With NASDAQ 1996-2000 a Guide
Showing similar signs to the final run of the internet bubble, it's likely that cryptocurrency bitcoin has peaked. Until
the recent correction, the past four years of bitcoin gains about matched the parabolic NASDAQ Composite rally
from 1996-2000. There are few historical comparisons to cryptocurrency, but 2013-to-present bitcoin movement
is comparable over a similar duration vs. 2000's NASDAQ peak. From Bitcoin's peak on Nov. 29, 2013, it rallied
329% to Sept. 1.
request report
Source: Mike McGlone, Bloomberg Intelligence Commodity Strategist
AdvisorShares Weekly Market Review- "You’ll Be Stone Dead In A Moment"
September 18, 2017--Highlights of the Week Ending 9/15/2017
Macro
Hurricane fallout, another missile over Japan nor ongoing sensational political news were enough to hold back markets, quite the contrary, the Dow Jones Industrial Average gained 2.16%, the S&P 500 rallied 1.56%, the NASDAQ was up 1.37% and the Russell 2000 jumped 2.27%.
Speaking of hurricane fallout, there will of course need to be a lot of rebuilding that occurs. Barron's noted the recent lift in lumber futures and the outperformance of timber ETFs. Interestingly, the cement stocks we looked at did not get a corresponding lift yet those same cement companies rallied far ahead of the market in the aftermath of Katrina in 2005.
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Source: AdvisorShares
S&P Dow Jones Indices Launches S&P Target Tuition Inflation Index
September 18, 2017--Benchmark Aims to Capture College Tuition Inflation Over Long Term
S&P Dow Jones Indices (S&P DJI), one of the world's leading index providers, today announced the launch of the S&P Target Tuition Inflation Index, a benchmark designed to capture for market participants college tuition inflation over the long term.
The S&P Target Tuition Inflation Index is comprised of existing total return indices covering U.S. inflation-linked treasury securities (TIPS), U.S. corporate bonds and a short overlay of U.S. equities.
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Source: S&P Dow Jones Indices
U.S. Officials Promise Revamped Derivatives Rules
September 18, 2017--The officials say the rules need to be revised to reflect how markets are functioning nearly a decade after the financial meltdown
Postcrisis derivatives rules should be revised to reflect how markets are functioning nearly a decade after the financial meltdown, senior Trump administration and regulatory officials told an industry gathering on Monday.
Policy makers should assess whether rules governing swaps trading, clearinghouses and international coordination have achieved their purpose, and change them where necessary, the officials said.
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Source: Wall Street Journal
FT Portfolios Canada Co. Announces Proposal to Change Investment Objectives Of First Trust AlphaDEXTM U.S. Dividend ETF (CAD-Hedged)
September 15, 2017--FT Portfolios Canada Co. (TSX:FUD) (TSX:FUD.A) (the "Manager"), the manager of First Trust AlphaDEX™ U.S. Dividend ETF (CAD-Hedged) ("FUD"), is pleased to announce that the board of directors of the Manager has approved a proposal to change the investment objective of FUD to seek to replicate, to the extent possible, the performance of the Value Line Dividend Index on a currency hedged basis, net of expenses and to change the management fee payable by the fund (the "Proposal").
In connection with the Proposal, the Manager intends to change the name of FUD to "First Trust Value Line(R) Dividend Index (CAD-Hedged)".
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Source: First Trust
Research Affiliates -The Folly of Hiring Winners and Firing Losers
September 15, 2017--Key Points
The standard procedure of firing losing managers and hiring winning managers based on their past three-year performance leads to losses.
Investors need to look forward-not just back-when allocating to fund managers by using a measure of expected fund returns that considers factor exposures, fees, manager skill in security selection, and factor expected returns estimated based on relative valuation.
As investors and their consultants gain a better understanding of the predictive efficacy of relative valuations in factor and strategy performance, they gain an objective reason to avoid the blunders of performance chasing.
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Source: Research Affiliates
CFTC.gov Commitments of Traders Reports Update The IMF and World Bank have urged the Fed not to raise rates in part because other central banks are still aggressively easing
The Fed's self-defined 2% inflation target has not been met
GDP growth has been below the growth rate of past recoveries/expansions ,a href="http://alphabaskets.com/advisorshares-weekly-market-review-week-ending-9112015/" TARGET="_blank">view more
September 15, 2017--The current reports for the week of September 12, 2017 are now available.
Reasons not to hike include;
The FOMC missed a window to do it earlier in the year and the economy has weakened
Source: AdvisorShares
