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OK, this must be the signal that "the top is near"

rforno
in Other Investing

Irrational idiotic exuberance -- markets can only go up, right?

(Reuters) -Volatility Shares, an issuer of exchange-traded funds, filed on Wednesday to launch a total of 27 highly leveraged ETFs, including the first-ever proposed 5x ETF for the U.S. market, at a time of rising caution over inflated asset prices as markets continue their upward swing....

https://finance.yahoo.com/news/volatility-shares-files-first-ever-182608186.html

Comments

  • MarkMark
    Correct.

    "Volatility Shares builds leveraged, crypto-linked, and VIX related exchange-traded funds (ETFs) for experienced traders."

    AKA Highway to Hell
  • yogibearbullyogibearbull
    edited October 15
    They are just testing this SEC.

    SEC has restricted ETFs to +/- 2x, but didn't restrict ETNs that can still be +/- 3x.

    Existing +/- 3x ETFs weren't affected - may be that is giving the filers hope.

    Some have already filed for +/- 3x ETFs to test, but +/- 5x may prompt SEC to act quickly on this.
  • larryB
    Someone will buy this shit. As they say in the car biz, “ an ass for every seat!”
  • rforno
    yogibearbull said:

    They are just testing this SEC.

    SEC has restricted ETFs to +/- 2x, but didn't restrict ETNs that can still be +/- 3x.

    Existing +/- 3x ETFs weren't affected - may be that is giving the filers hope.

    Some have already filed for +/- 3x ETFs to test, but +/- 5x may prompt SEC to act quickly on this.

    Sure ... but even that *someone* is offering such a product after the past few years is kind of telling/worrysome, at least to me.

  • hank
    edited October 15
    Pre-ordered audio version of Sorkin’s 1929 several weeks ago after first hearing about it. Started listening last night. Excellent. Very well written and narrated by Sorkin himself. About more than just the market mania / crash. A good historical account of the period. Highly recommend.
  • Old_JoeOld_Joe
    Just ordered from Amazon. I figured that there will be a long wait list at the SF public library, and I don't enjoy the pressure of having to read something quickly because it's not renewable. Hell, $30 bucks is only two bottles of decent wine, and the book will last a lot longer than the wine. Also probably a good reference source to keep around.
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