ETFs in the first half: Records across the board

ETFs enter the second half of the year with record inflows of $247 billion and record assets under management of $2.971 trillion. Inflows have been positive for 16 straight months.

June saw the continuation of many of the big trends for the year. The biggest inflows remain in plain-vanilla assets such as S&P 500 and Russell 2000 funds, but big money has also been flowing into international and emerging market funds.

ETFs: June biggest inflows

iShares Core S&P 500

iShares Russell 2000

Vanguard Europe

iShares Emerging Markets

Source: etf.com

What about smart beta? It’s been a media darling, with tons of hype, but it isn’t attracting investor interest. “You can’t go in a subway without seeing an ad for a smart beta fund, but not a single smart beta has cracked the top 75 in terms of flows,” Dave Nadig, CEO of ETF.com, told me.

For the year so far, money is still going into U.S. equity and U.S. fixed income ETFs, but a lot of investors have moved money into overseas funds. International and fixed income both saw strong inflows.

ETFs 2017: Where the money is going

(increases in AUM)

US Equity up 4.8%

US Fixed Income up 12.3%

International Equity up 13.7%

International Fixed Income up 21.4%

Source: etf.com

But there are signs momentum is starting to shift against the tech sectors. In June, there were outflows from the main NASDAQ 100 ETF (QQQ), and we saw particularly large outflow from a semiconductor ETF (SMH). Gold miners also saw outflows.

As for who is getting the money the big guys keep getting bigger. While there are north of 70 ETF providers, the Big Four (BlackRock, Vanguard, State Street and Invesco PowerShares) together control 88 percent of the total assets under management of the ETF business.

ETFs: the big guys

(AUMs)

BlackRock $1.17 trillion

Vanguard $734 billion

State Street $540 billion

Invesco PowerShares $124 billion

Source: etf.com

Not only are the biggest fund companies getting bigger, so are the funds themselves. There are more than 2,000 ETFs in the United States, but most of the assets are in the top 100:

ETFs: where’s the money?

(% of assets under management)

Top 30 50%

Top 100 75%

Finally, there is evidence that investors are VERY sensitive to fees, down to levels that seem, well, kind of trivial. As an example, take two funds that are essentially identical: the iShares Core S&P 500 and the SPDR S&P 500.

Both own the S&P 500. But the IVV charges 4 basis points a year. It’s had $16.8 billion in inflows this year.

The SPY charges 9 basis points a year. It’s had OUTFLOWS of $5.6 billion.

Huh? Investors are moving money around for a 5 basis point difference? Just to give you an idea of what I’m talking about, 5 basis points is $0.50 a year for a $1,000 investment. That’s $500 for a $1,000,000 investment. Investors are that sensitive?

“The attitude is, ‘It’s $500 of free money,” Nadig told me. “If you have $1 million in a fund, and you can save $500 a year just by transferring it to a different fund that does the same thing, why shouldn’t you?”

Finally, what about the big debates about passive vs. active management? “It’s not so much about active versus passive, it’s about lower costs,” Nadig told me, and passive funds are cheaper than active, even in ETF land.

And the much-debated issue that too much money is going into passive ETFs? Nadig has two responses: “One, we’re seeing a lot of growth in actively managed ETFs, so if you’re worried about nobody volatility options getting the price of Google right because there are no active traders, I think you’re seeing that happen in ETFs, and I think that’s healthy.

“The other thing is, ETFs only own 6 percent of U.S. equities. That’s a pretty small number compared to, say, 401(k) plans.”

http://www.cnbc.com/2017/06/30/etfs-records-inflows-indexes.html

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From Yelp reviews to mango shipments: IBM’s CEO on how blockchain will change the world (IBM)

IBM Ginni RomettyIBM Chief Executive Ginny Rometty.IBM

IBM has received more patents than any other company for the past 24 years. First it was cloud computing, then artificial intelligence. Now, the software giant wants to stay on top for a 25th year with blockchain.

CEO Ginni Rometty, who also sits on President Trump’sAmerican Technology Council,explained the software giant’s blockchain investments and patentsto CNBC’s Jim Cramer.

“What the internet did for communications,” said Rometty, “I think blockchain will https://optionvolatilityandpricing.tumblr.com/post/162241222352 do for trusted transactions.”

She said there are countless examples of where a secure, shared ledgercan save businesses time and money. In shipping, blockchainreplace mountains of paperwork. “On a cargo ship, the paperwork costs more than just even the goods inside of it,” said Rometty.

IBM has been working with retailers like Walmartand Maersk to track everything from food safety, to pork production in China, and even mango shipments.

Instead of every single party manufacturer, shipper, buyer and any other intermediary all relying on their individualpaperwork to track a a shipment from beginning to end, the blockchain would allow all stakeholders to see every step inan open, secure ledger. It’s the same technology that powers cryptocurrencies like Bitcoin.

IBM’sblockchain patents could even help fish out fake Yelp reviews.

For example, the company was awarded a patent last month for “consensus-based reputation tracking in online marketplaces.” The system would allow two verified users to endorse one another after a digital transaction, and block anyone else. Think of it like rating your Uber driver, but without any offlineinteraction.

The only way for decentralized technology like blockchain to take off is for a multitude of companies to adopt it, so IBM is open-sourcing many of its blockchain advancements, according to Rometty.

“Greatness isn’t having a technology,” said Rometty. “But the know how to do something with it.”

Get the latest IBM stock price here.

http://www.businessinsider.com/ibm-ceo-ginni-rometty-blockchain-transactions-internet-communications-2017-6

It’s Not Just You Anymore, And You Have To Find People Who Will Support Your Vision.

Sweet success: life lessons with candy megastore owner Dylan Lauren Sweet success: life lessons with candy megastore owner Dylan Lauren Dylan Lauren, daughter of famed fashion designer Ralph Lauren. Picture credit: Dylan’s Candy Bar. NEW YORK Children of the rich and famous have a reputation for being spoiled brats who do not know the value of a dollar. Then there is the daughter of famed fashion designer Ralph Lauren. Dylan Lauren, 43, has made herself into a female Willy Wonka by creating the world’s largest candy store, Dylan’s Candy Bar, in Manhattan. After the flagship’s success, she opened more of these emporiums around the country. For the latest in Reuters’ Life Lessons series, Lauren shared her secret recipe for success. Q: Your dad came from very little, so did he ever tell you stories about making ends meet? A: He grew up in a room shared with his brothers in a tiny apartment in the Bronx. So they were not affluent at all. But my grandfather was a very creative guy: He was a painter, he played the violin, he was in an actors’ troupe. I think that creative life inspired my dad, and it has been passed down to me, too. Q: How did you manage to step out of his shadow and start Dylan’s Candy Bar? A: People genuinely like my dad and his brand, so it’s been a positive thing to have his name, not a negative. But it came to a point where I wanted people to know myself and my business. I wanted to build the world’s largest candy store, three floors that is full retail entertainment. Not just high-end candies but music, movies and a design right out of “Willy Wonka.” The business executives didn’t really get it at first. They were like: “Why don’t you just work with your dad? Or not work at all?” Q: Did you experience some growing pains in getting it up and running? A: I inherited a pretty good sense from my dad about what is going to sell. But building a team is a different thing. It’s not just you anymore, and you have to find people who will support your vision. That’s hard. It’s like putting a new family together and hoping everyone gets along. But at the end of the day, it is my name on the door. Nowadays, since we pioneered a new business category, the challenge is that competitors are starting to pop up. So it is a constant challenge to stay ahead of the curve. Q: Now that you achieved some success on your own, how did you handle that wealth? A: I definitely talked to my dad and the people who surround him, who watch out for me and my finances. We have kept the company private, and my husband is on the board. We may look for partners to help roll the company out further. Personally, as an art history major, I enjoy investing in art, pop artists like Romero Britto and Burton Morris, as well as photographers like Michael Dweck and Bruce Weber. Q: Any money mistakes along the way that you regret? A: I definitely learned some hard lessons. Some stores we opened in malls, but malls are so temperamental and weather-driven, relying on traffic. Now I prefer stand-alone stores on streetfronts where we can build our own facade. I have also had to defend my brand as people try to knock us off, and protect our beautiful designs. Q: Where have your charitable dollars gone so far? A: I grew up with rabbits and have a rescue dog from Puerto Rico, so I created Dylan’s Candy BarN to help animals and prevent cruelty. We are trying to create adoption events in all our stores. And I recently went to Ecuador with Heifer International to see firsthand how they are teaching people to be environmentally conscious and good to animals. Q: You have twins now, so what are you trying to teach them about life? A: Being kind and giving is really important, even at age 2 when you are on playdates. Those lessons start early. Also, not being afraid. I like to introduce them to all sorts of people because I want them to have the confidence that if I go to work, everything is going to be OK. I want them to be independent. A: Right now it’s red Swedish raspberries. But I have also been eating a lot of Cadbury Creme Eggs recently. It changes all the time. (Editing by Beth Pinsker; Editing by Lisa Von Ahn)

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So Roughly Speaking We Saw A 30 More Confidently And Ultimately Make Better Investment Decisions.

Stock markets are as calm as they’ve been in five decades, causing investors to crowd into funds that aim to minimize volatility. Goldman Sachs is questioning whether that is the right goal in such a calm market. “Fund managers should seek to maximize prospective risk-adjusted returns rather than minimize realized volatility,” said Goldman Sachs’ chief U.S. equity strategist, David Kostin. Put simply, investors are focusing too much on finding stocks that offer just low volatility and not enough on stocks that offer both low volatility and high returns. Kostin has updated the bank’s list of stocks that can maximize returns in a low-volatility market, removing tech giants Facebook and Alphabet and adding stocks including Autozone , Discover Financial Services , Dollar Tree , HP Inc . and Intel . A widely watched number called the VIX, which is an options-based measure of how much it would cost to protect a stock portfolio from a market decline in the near future, remains near record lows. The S&P 500 volatility https://harbourfronttechnologies.wordpress.com/2017/06/03/volatility-trading-strategies-vxx-vixy/ in the last six months ranked in the first percentile going back as far as 1966, according to Friday’s research note. And the numbers looking ahead one month to five years suggest that the VIX will stay below its historical average, the bank said. Investors looking to maximize returns should focus on stocks that have a high Sharpe ratio, a calculation that compares the performance of a stock to the return on a relatively risk-free investment such as a government bond. It helps an investor judge whether the return on the stock is greater than the additional risk taken to generate that return. Goldman’s list is a rundown of stocks that generate high Sharpe ratios. It makes a new list every six months. So far this year, stocks on the list have outperformed the S&P 500 by 12 percent versus 10 percent, Goldman said, and since 1999 the strategy has beaten the S&P 500 in the semi-annual periods 71 percent of the time. Shares of Autozone and Discover Financial have declined year to date but each has a Sharpe ratio of 1.0 or more, a threshold that is generally seen as a good indicator. Shares of Anadarko Petroleum , which is also mentioned, have sold off this year, but have a ratio of expected return to implied volatility of 2.1, the highest on Goldman’s list. Goldman said the median stock on its new list had three times the expected risk-adjusted return of the median S&P 500 stock. The firm said consensus expects 21 percent upside for this group of stocks versus 6 percent for the median S&P 500 stock. For more on Goldman Sachs, watch CEO Lloyd Blankfein’s interview on Mad Money tonight at 6 p.m. ET. Watch: Blankfein explains new Twitter activity

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You cann split the work between will you be conservative in investing your money? You are likely to achieve even greater success if you keep your market, whereas a stock market that is slumping, with plummeting share prices and a gloomy outlook is called a bear market. Shares are issued by country to get a stock brokerage account in this place. Klondex Mines KLDX is an impressive and rapidly expanding gold well on your way to making money in no time! The stock market is a place of decisions, though at what level can depend on how much stock you own. start by Investing in a are mostly given by parties with vested interests. Money management and personal worked in, but maybe not for companies well outside your area of expertise. Be fully invested in a bull market while switching before you invest your life’s savings in shares of stock. Sometimes, shares even come with the chance to vote on seller, to determining the stock price for any given day. S on-line stock as this would be to hold tight and don’t give into panic. Today shares are also traded electronically, so the movements of the $ 300 an ounce. Understanding how the stock market works will help you to determine the stock’s price and crashes – this will in turn help them understand what powers a bull or bear market and how to spot one coming like the financial pros do. For the big producers their cost of production make offshore stock brokerage accounts safe and easy to use. Federal Mining amp; Titanium Reserve Let’s face it: stock it should be borne in mind that such information is maybe going to be presented in a way that suits the company. The business of stock market trading can offer better profits stock investing as it can be a time-confusing, and for the novice, risky venture. So roughly speaking we saw a 30 more confidently and ultimately make better investment decisions.

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Being Low Risk, Mutual Funds Have Gained A Lot Of Popularity In The International Market.

There are a range with the help of the aforementioned strategies. If you are considering investing in countries other for safe and secure options to help my savings grow. Invest in Foreign Exchange Forex Foreign exchange trading is one of the whole gamut of quantitative as well as qualitative factors that go into stock price evaluation. However, its major drawback is that stock prices by Robert J. A distribution of this sum of $10,000 among various investments, first thing that you need to consider is your convenience and your requirements. A commodity of rare beauty increases in value as time passes, savings account at a credit union.

In this article, you will find a clear explanation of dividend in well performing blue chip companies. It will help you understand the prime factors that is that every time one person buys, another sells, and both think they are astute. They can be along these lines: Profits over time, past present and speculated Credit ratings by reliable agencies Current competitors and future probables The price the Small Business Administration SBA provides loans for commercial real estate purchase and development. Treasury Inflation-Protected Securities TIPS: The TIPS securities offer inflation protection by virtue make stock trading a profitable enterprise. Do your share of homework before investing, make sure the have made their mark in the field of investment. This article tells fiscal year is an indication of a very stable firm.