Posts tagged 'SPDR'

When is the SPY ETF’s value not really its value?

Izabella Kaminska joined FT Alphaville in October 2008. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP's internal magazine.

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| Jan 05 2011 18:00 | Comment |

Here’s a market curio for Wednesday.

The following chart shows the historical indicative net asset value (iNav) of the SPDR S&P 500 ETF versus its actual net asset value at the end of the day: Read more

The annotated flash crash diagram

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Sep 28 2010 11:54 | Comment |

Can’t wait for the SEC’s flash crash report?

Then try this alternative, from data firm, Nanex. Read more

Can an ETF collapse?

| Sep 18 2010 14:02 | Comment |

By Andrew A. Bogan, Ph.D., Brendan Connor, and Elizabeth C. Bogan, Ph.D.
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Like many innovations in finance that emerge from nowhere to explode in popularity with unknown consequences, exchange-traded funds (ETFs) have gone from obscurity when they were first invented in 1993 to making up more than half of all the daily trading volume on American stock exchanges today. They also made up 70% of all the canceled trades during the Flash Crash on May 6, despite representing just 11% of listed securities in the United States, suggesting that ETFs remain poorly understood by both investors and regulators. Read more

Soros’s bubble buy

| Feb 18 2010 11:04 | Comment |

It’s just as well that George Soros has a philosophy (as the Wall Street Journal reminds us) of spotting a bubble and buying it, as he puts it.

When it comes to gold, which he famously described at the recent World Economic Forum in Davos as “the ultimate asset bubble”, he has indeed put his money where his yellow metal is. Read more

Together we fall, together we rise

Izabella Kaminska joined FT Alphaville in October 2008. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP's internal magazine.

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| Aug 06 2009 10:12 | Comment |

We know correlations between sectors and asset classes have been intensifying across markets. What we find really interesting, however, is just how dramatic those correlations now appear.

As Don Fishback over at Minyanville points out (our emphasis): Read more