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How to earn on a black swan?

15 Feb 2018

Dear readers, let me come back to the interesting events of the past week, which literally brought a storm to calm waters of the financial markets and brought an unexpectedly high volatility to the financial world. To events that are to a certain extent extreme and respectful with regard to the speed at which they […]

Reverse split and options

25 Jan 2018

In the last part I have described the basic principles of short-call strategy trading in connection with inefficient ETFs. I have noted that in a situation where the price of the ETF reaches a low level, there might appear a so-called reverse split (the conditions under which it occurs, are usually described in the fund´s […]

Short call option strategies and inefficient ETFs

18 Jan 2018

In the last part, I have described the basic outlines of the ETF’s direct shorting strategy. We have explained that, despite the undeniable yield potential, such strategy also brings many risks that must be kept in mind. Today I would like talk about option strategies that can also be used to short most of the […]

Trading strategies for inefficient ETFs – basic overview

11 Jan 2018

Today’s part of my educational series will focus on specific strategies that can be used for trading inefficient leveraged ETFs. I think, that those who read my articles on a regular basis understand, that keeping these products for a long time – to have these ETFs in the portfolio – is kind of financial suicide. […]

PF 2018 and a list of the most losing ETFs in 2017

4 Jan 2018

I want to write my first post in the new year as a small recapitulation and a look back to the last year from the ETF point of view, and especially – and as you can probably guess – to those that did badly last year. Paradoxically, those are the most interesting for us.   […]

Leveraged ETFs risks and what to look after

21 Dec 2017

In the last part of the series, we have described the main potential issues connected to the holding of leveraged ETFs for a long time – it is so called compounding, or tracking-error, as we say in our fund. When the market is volatile, this phenomenon can wreak havoc on the value of the leveraged […]

Introduction to leveraged ETFs

14 Dec 2017

In this part of my series, I will make an introduction to the leveraged ETFs and explain how the “tracking-error” or if you want compounding works with those instruments. The leveraged ETFs are designed in the way that their daily % yield or loss is multiplied compare to the non-leveraged instrument. At first glance, this […]

Contango and its use (2/2)

30 Nov 2017

In the last part of our series we have explained the concepts of contango and backwardation, and we have said what does it mean when the market is in contango or backwardation.   Let me now show you how based on ETFs or ETNs, we can use the contango phenomenon in our benefit. The existence […]

Contango and its use (1/2)

23 Nov 2017

In the last two parts of my series, I have shown you why I consider VIX and its derivatives as a very interesting source for generating alpha. In today’s article, I would like to focus more on the first condition, i.e. high contango. So, let me explain what the contango is all about and what […]

What is alpha and how it can be generated (2/2)?

16 Nov 2017

In the last article, we have explored the possibilities of generating alpha on the market. As it can be seen from the list, alpha can be achieved by many ways and through many strategies and instruments.     Reason why I would like to focus in the next chapters of this series on the systematic […]