Wild stat... iShares 20+ Year Treasury Bond ETF (TLT) has *$50bil* inflows over trailing 3yrs. $50bil in new investor $$$. Its trailing 3yr return? -30% TLT is actually still in a nearly 40% drawdown going back to Aug 2020. Cash incinerator.

"And what would happen if public equity were to sell off while the Fed couldn’t return to as accommodative a posture due to the inflation genie not yet being back in the bottle?" -- MPI in "A Private Equity Liquidity Squeeze By Any Other Name" markovprocesses.com/blog/a-private…

The business of PR ft.com/content/ebea19…

digital what? $GLDM $GLD $IAU $SGOL have been holding up admirably in a higher rate environ. What happens when rates are cut? Jesse Pound CNBC Pro CNBC's ETF Edge asks John Davi cnbc.com/2024/08/07/gol…

"Hiding the denominator and hyping the numerator is how online commentators distort matter-of-fact observations into messages meant to instill fear." Jason Zweig The Wall Street Journal wsj.com/finance/invest…

Listing Sept 3: • $CPNS Calamos Nasdaq-100® Structured Alt Protection ETF™-Sept • $CPST Calamos S&P 500® Structured Alt Protection ETF™-Sept Learn more about Calamos Structured Protection ETFs offering 100% downside protection over one-year periods. okt.to/WrkLbO

One can imagine how tough this post is with Dalio's scrutiny daily... via Alicia McElhaney Michael Thrasher Institutional Investor Cc Rob Copeland Robin Wigglesworth Isabelle Lee Justina Lee institutionalinvestor.com/article/2dmtt1…

My sides hurt from Robert Armstrong 's title on this one chronicling gold's YTD outperformance (and yet ETF flows are negative...) Chartcuterie worthy, Robin Wigglesworth? Financial Times "Unhedged" $GLD $GLDM $IAU $SGOL $GDX ft.com/content/b111b6…

This is a deeply concerning chart; one wonders how much this decrease in IRL socializing has contributed to the mental health crisis impacting teenagers. Jonathan Haidt via Bruce Mehlman lesswrong.com/posts/6hciEN9D…

Why are buffer ETFs called “Boomer candy”? How are advisors leveraging these for clients who are #retired or nearing #retirement? In Bloomberg Intelligence’s podcast, Inside Active, we join BI’s James Seyffart and David Cohne to discuss: okt.to/x2FmO6 calamos.com/protection

BofA Hartnett & Woodward predict inflationary environment, issue bold 60/40 call to trade bonds for commodities [bit of a stretch to suggest 30-yr Treasuries are the 40% but hey even core bond funds sitting in red since 2020], via Sagarika Jaisinghani Bloomberg Markets bloomberg.com/news/articles/…

"The research also found some evidence that the bond risk-premium moves in tandem w/ the stock/bond correlation: When the stock/bond correlation is high, bonds often lose their defensive characteristics, 'and this is clearly a concern'" via Sophie Baker pionline.com/investing/infl…

"Half your coworkers might have just spent August in Europe, but there were no holiday doldrums in the booming world of ETFs." Vildana Hajric notes ETF flows keeping record annual pace despite Athanasios Psarofagis and Isabelle Lee's vacations, volatility spike bloomberg.com/news/articles/…

For those upset w/ their OCIO's underperformance, Charles Skorina has a reminder via Ophir Asset Management that "Even $BRK (#Buffett) 'has had 10 negative return years, four years where it has fallen greater than -20% and six years where it underperformed the S&P500 by more than -20%.'"

We have some exciting news to share: We have a deal!! More than two years after our union was recognized, we’ve finally come to a tentative agreement with the Financial Times and will put it to our members for a vote.

When Spencer Seabrooke broke the world record for the longest free solo slackline walk. He used no safety gear at all, walking over 200 feet across a 1,000-foot high canyon in Canada.

My dad still cuts articles and comics out of the newspaper to share w/me This one from yesterday not bad

More peak uncertainty. Fed whisperer WSJ's Timiraos doesn't have the answer 1 day prior to decision and leans on surplus of former Fed officials. Powell presser will be important in communicating if there is a change in governance re unanimity/dissent wsj.com/economy/centra…

"2022 shut everyone up...when stocks & bonds declined at the same time, having that liquidity bucket made a world of sense. I have heard fewer complaints about the bucket strategy & the opportunity cost associated w/ that cash bucket in particular since 2022" Christine Benz

We're probably not going back to that era where there were negative yielding long-term sovereign debt says Powell, that rates are likely to stay more normalized.