Oil: Sick of worthless ETF’s!

Check out my recent research piece on Seeking Alpha here.

On the front page of the Financial Times yesterday (sorry, I gave up reading the Wall Street Journal when it went mass market) the headline was “Oil at $60 for first time in six months.”

How wonderful! I was long oil using commodity ETFs/ETNs since December when the price was in the 30s. Thus I expected the price to be up 50-80%. This is where I hit the empty well.

The bottom line is that I will be moving on and not dealing with ETF’s that can’t perform as the marketing people suggest. There are a million excuses why the slippage happens, but my clients don’t care and neither do I.