How is that $hit legal?
Is there any recourse for that type of move? or are you and @Scuba Steve in a 'too bad so sad...such is the risk' type of situation?
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Stocks
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Is there any recourse for that type of move? or are you and @Scuba Steve in a 'too bad so sad...such is the risk' type of situation?
I don't know if Steve got a kiss first, but I sure didn't.
You'd think buying an oil etf when a barrel of oil was below $0.00 / zero, you'd make some cash? Nope. I sold when I should have had at least a hundred bagger, but I lost money.
Horizons. They won't see another cent of mine, once I sell my beaten down HUV. If it wasn't in my tfsa, I'd have dumped it already for the tax loss.
blackcamaro
Well-known member
Another one that is designed to be traded in and out of daily.
Directly from Horizons prospectus for the fund
"HUV HUV is designed to provide investment results that endeavour to correspond to the daily performance of the S&P 500 VIX Short-Term Futures Index™ (the “HUV Underlying Index”). The HUV Underlying Index tracks market volatility, not market returns, and has tended to have a low to negative correlation to equity market returns. The HUV Underlying Index is highly volatile. As a result, it is not generally viewed as a stand-alone long term investment. Historically, the HUV Underlying Index has tended to revert to a historical mean. As a result, the performance of the HUV Underlying Index is expected to be negative over the longer term and neither HUV nor the HUV Underlying Index are expected to have positive long term performance."
And for the leveraged 2X Funds this is what they have to say
"Double ETFs The Double ETFs are designed to provide daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to a multiple or inverse (opposite) multiple of the daily performance of a specified Underlying Index. The Double ETFs do not seek to achieve their stated investment objective over a period of time greater than one day. Any U.S. dollar gains or losses as a result of the Double ETFs’ investments will be hedged back to the Canadian dollar to the best of their ability. The Discretionary Leveraged ETFs, in accordance with their investment objectives and at the discretion of the Manager, are designed to provide daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to up to two times or up to two times the inverse (opposite) of the daily performance of a specified Underlying Index. Each Double ETF employs absolute leverage that will generally not exceed 2.0 times the net asset value of that ETF."
https://www.horizonsetfs.com/horizons/media/pdfs/prospectus/BetaPro1_Prospectus.pdf
Tough to blame Horizons and all ETF's in general when warning's are put in place and people buy and use the funds in a way they weren't original designed for.
Something does look very odd with HOU starting in April 2020 when oil strated to go back up after the 2020 drop, it did not (looks like some splits at the same time), then in November 2020 they indicated they were going back into leveraging the portfolio (which means they must have stopped at some point, I cannot find that data????). In July 2021 it did a 3:1 split. It is a futures based ETF not stock prices etc., the purple line is one of the crude futures I could find.
But I guess it depends on when you bought and how long you held.... The last year is what it should look like!
From December to today it was a triple your money deal....
But I guess it depends on when you bought and how long you held.... The last year is what it should look like!
From December to today it was a triple your money deal....
Not tough at all. **** them, and their mothers.
A barrel of oil was below $0.00. I bought HUV the same moment.
HUV should have cost 2x close to "$0". It didn't. When the dust settled, I had 12 shares/units at $76.
I would have gladly day traded it. That was the plan, if it was legit.
ETF's remind me of harness racing in the 70's.......crooked.
Buy gold.
One day here and there is ok. If you make it a common practice, and they find out.......it's considered a job, and taxed accordingly.
and there is why I play market guru with small amounts of money i can live without.
We employ an actual money manager that has multiple firewall to get through to ever (hopefully) put me in a bad way.
I know enough about the market to know , I don't know enough about the market.
Several aquaintences do quite well , I do quite average with my choices.
We employ an actual money manager that has multiple firewall to get through to ever (hopefully) put me in a bad way.
I know enough about the market to know , I don't know enough about the market.
Several aquaintences do quite well , I do quite average with my choices.
So I'm hearing 'sell whatever you can at the earliest'...
I haven't seen a REAL recession yet...maybe I should keep my gov't job.
My only move I'm considering up to now is to sell some VGRO.TO and buy Google/ABC in order to get their 20:1 split coming up in the summer.
You have a govt job?!?! Wowsers.....keep that.
Google? Hopefully you're buying it for every other reason than the split.
Yes gov't job...but my old company is about to send me their offer within a day or so and I'm tempted to take it.
I asked for a stupid 30% increase in pay from what I have now...but maybe they'll give it...but the project is in mining so may not be the best route to go in this time of uncertainity.
^^^^^What he said^^^^^
Yes I'm part of OMERS....which is a huge part of the reason to stay. Only 2 years in though. Trying to hit a higher salary, but 'need to stay in this role at least 1-2 years, in order to advance....
So tempted to leave, but I think I have it fairly good.
As for recession, don't believe everything I read / post...
So if I buy one now then I can get 20 for it later?
Same question goes for GOOGLE? I think it's also a 20:1 split around that time.
Exactly. If you buy 1 at $3000 you'll have 20 at $150.
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