Opinions
Richard Croft
HBP Financials Bull+ E.T.F.
HFU-T
TOP PICK
Sep 19, 2008
Canadian banks and insurance companies. Thinks this is near the end game for the financials and had their bottom in July. Expect they will lead the market out of this. This is a “double up” instrument.
$13.920
Stock price when the opinion was issued
E.T.F.'s
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COMMENT
MER is 1.15% plus there’s a forward transaction underlying it for a total of about 1.5%. You will get the dividends, but there will also be a cost on the leverage. They don't actually buy the stocks, but buy the futures market for exposure. Great product for trading but is not a product he would invest in for a long term. From a long-term perspective you are going to have difficulties seeing returns give you 2X but you are always going to have 2X market risk. You are probably better off margining a bank ETF or at a bank type of index to get the same kind of leverage.
E.T.F.'s