Opinions Larry Berman CFA, CMT, CTA
iShares Broad Commodity ETFCBR.TODON'T BUYMar 11, 2013
Larry Berman CFA, CMT, CTAUnknown
$22.40
Stock price when the opinion was issued
E.T.F.'s
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Broad Commodity ETF. He includes this in some of his more aggressive portfolios. Likes the product and the fact that it is global and commodity-based. Tends to be bullish on commodities right now.
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Broad Commodity ETF. More expensive than other ETFs but is also the only one in Canada that gives you exposure to a wide swath of sugar, coffee, cotton, pork bellies, etc.
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Came out in October /10. It’s going to be volatile. On the near term it is due for some consolidation. Holds actual commodities. Not averse to the extra risk. It’s another kettle of fish on the risk tolerance side. Keep investments like this in context and be disciplined on your time horizons.
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All of these ETFs that have commodity futures in them have some issues. They try to mitigate them by not holding the front month and back month contracts. But they still have some contango. You can get up to a 6% drag from the rollover of futures contracts so unless you have robust growth in commodities, that drag will hurt performance. For the next 2-3 years he thinks we will not have such robust growth in commodities.