Last week Tuesday, I overheard a doc @ a hospital mention how these inverse ETFs would eventually be useless and that NONE of his mutual fund or his supposed inside fund manager friends say they would rather not trade something like FAZ.
HA! HA! HA! HA! HA!
Yea, your idiotic fund manager friend is right in the long term regarding how these inverse or Bear ETFs are funded. But look here... buy $39 and change and a couple weeks later $79... and i actually missed it going to $85 (my sell stop/limit would have been $80 and rebuy @<70)
Anyway, the point is, these fund managers may be smarter than me or have a gigantic portfolio. But all this extra talk about NEVER trading Bear related ETF is stupid. Bunch of talk... blah blah blah...
And the funny thing is i told a co-worker to buy FAZ under 39... and he told me today, I should have listen to you. I did ease his feeling of missing a move by telling him I missed a lot of moves after having gotten bored - at which point of course the tickers i followed suddenly moved while i fell asleep at the wheel.
Anyway, i follow REAL fund managers and REAL traders (Fly, Tim, etc), granted i could be piling up more $ if i paid more attention to my portfolio... The investors I follow are all double digit % up. I'd like to know how this Big talking doc is doing. All these supposed secret trades or buying up whatever debt deals are all speculative.
FAZ is making me (the regular dude) $$$$. Of course, i was blasted late 2008 and have little to show at this point, but I know I am doing better than the Doctors fund friends... bunch of wusses...
Excuse my rant... I would love to shove it in their face, but alas one of these docs could save my life one day...
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