Kind of like PowerShares launching their private equity ETFs, does the slew of new commodity ETFs signal a top? In my inbox today:
iPath® Global Carbon (GRN)
iPath® Dow Jones-AIG Softs Total Return Sub-Index (JJS)
iPath® Dow Jones-AIG Precious Metals Total Return Sub-Index (JJP)
iPath® Dow Jones-AIG Aluminum Total Return Sub-Index (JJU)
iPath® Dow Jones-AIG Cocoa Total Return Sub-Index (NIB)
iPath® Dow Jones-AIG Coffee Total Return Sub-Index (JO)
iPath® Dow Jones-AIG Cotton Total Return Sub-Index (BAL)
iPath® Dow Jones-AIG Sugar Total Return Sub-Index (SGG)
iPath® Dow Jones-AIG Platinum Total Return Sub-Index (PGM)
iPath® Dow Jones-AIG Tin Total Return Sub-Index(JJT)
iPath® Dow Jones-AIG Lead Total Return Sub-Index (LD)
Goldman just launched the a mutual fund based on the Absolute Tracker Index (ART) Symbols GARTX, GCRTX, GRRTX, GSRTX, GJRTX.
I have always been curious about the hedge fund indexes. Isn’t beta the one part of hedge funds you don’t want? I bet a simple allocation equally weighted of US Stocks, Foreign Stocks, Bonds, REITs, and Commodities performs better (especially after the 1.6% fee). Some of the share classes have loads as high as 5% (and why anyone would buy a load fund is beyond me).
Alpha Hedge Fund Hall of Fame
Who is added next? My money is on Thorp.
Looking for a new Summer cocktail?
My new favorite – The Palmoa. (Although I use grapefruit juice + soda rather than grapefruit soda).