FYI: On the whole, investors continued to pour money into U.S.-listed exchange-traded funds this week. About $5 billion entered ETFs as a whole, with most of the money going into U.S. equity products, according to FactSet data. On the other hand, fixed-income ETFs saw a sizable outflow—$960 million—but that was all due to one product in particular.
Regards,
Ted
http://www.etf.com/sections/weekly-etf-flows/weekly-etf-flows-2016-06-16-2016-06-10
Comments
...a moment in time at the end of the summer of 2011 during which the investor class had temporarily lost its collective mind.
Investors, you see, had pushed the assets under management in State Street’s GLD Etf to a higher level than the assets held in its S&P 500 Etf (SPY). In other words – investors had decided, in the aggregate, that securitized rocks were worth more than the entirety of American capitalism and free enterprise.
The combined productive fruits of American business and labor were, for a moment, worth less to investors than a paper precious metal proxy.
August 22nd 2011
http://thereformedbroker.com/2014/09/18/that-time-three-years-ago-when-investors-temporarily-lost-their-minds/
Today
SPY
As of 06/16/2016
Price $208.38
Shares Outstanding 876.68 M
Total Net Assets $182,685.64 M
GLD Last Sale
US $123.97
Gold spot price
Bid
US $1,298.45
Ask
US $1,298.85
Total gold in trust
Tonnes
907.88
Ounces
29,189,217.78
Value US$
37,667,845,243.64
I recently trimmed my precious metal holdings @ a ( long waited ) profit. Now < 5% of investable assets, mostly TGLDX and PSAU