Senior ETF Analyst for @Bloomberg Intelligence. Tired Dad. Rutgers Alum. Gen X-er. Catch me on “ETF IQ” on @BloombergTV & “Trillions” on iTunes.
Slay Jr is awesome, a bright spot on this shaky team, as well as one of the Top 5 coolest names ever for a CB. So perfect seeing it on the back of his jersey after he wreaks havoc on some poor WR.
Meanwhile $QQQ took in $7b as did many US eq ETFs. The whole scary headline is built on the abnormal $10b in outflows for $SPY. But that could come back in 2min bc institutions plus its volume last wk was meh=no one panicked, hence the bounce today.
This sounds like the beginning of a Sasha Baron Cohen movie.
“With their beloved Greek letters” is just one of many scathing lines in this piece about how NYC subway pension (and other institutions) lost 95% of their investment in a HF called “Structured Alpha”
Actual sign on 95S. Philly sports is in a sad state to say the least. I feel no empathy, front office did it to themselves by trying to outsmart the obvious..
Interesting post on Reddit and something I suspect we'll see more with each correction: retail traders surrendering to the comfort and logic of diversified funds, which most curr shun bc not "fast" enough..
ETFs saw $31b(!) in outflows last week. To illustrate how crazy that is, here's ETF flows for the past 80 weeks..
History was made today as $SPY became the first security to ever trade over $100b in a day (104b to be exact). An absurd amount of activity that speaks to the deep level of fear in the market and gravity of situation. (for context $AAPL's avg daily volume is like $6b).
NO FEAR: $SPY volume is DEAD, only $12b traded past two days, lowest reading since Christmas Eve. Even some single stocks traded more, which rarely happens. No one tweaking their portfolio, feeling content, a confluence of Fed pacification, late summer-ness and sports returning..
TIL: Robinhood traders only acct for about 1% of equity volume (altho they get about 50% of the attn)