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Turns Out MLPs Are Risky

Posted by on Feb 9, 2017 in ETF Strategist, Market Insight

By Roger Nusbaum, AdvisorShares ETF Strategist   Over the weekend, Barron’s had an interesting article on Master Limited Partnerships (MLPs). What is interesting to is the almost hindsight bias of the risk assumed with MLPs. From the Barron’s article: But lower energy prices are the biggest risk for the MLP bull run. “If investors don’t realize that, they’re missing the forest for the trees,” says Hatfield. It may be difficult to remember, but there was almost no one saying this ten years ago. Since the assets owned by MLPs are mostly pipelines and storage, the price of the underlying doesn’t matter was the general argument. The yields were generous...

Weekly Small Cap Market Review: January 30 – February 3

Posted by on Feb 8, 2017 in Cornerstone Investment Partners, Small Cap Market Review

By Mark Spatt, CFA, Investment Analyst at Cornerstone Investment Partners, sub-advisor of the AdvisorShares Cornerstone Small Cap ETF (NYSE Arca: SCAP)   I write to you from Atlanta, a deflated city. If you shut off the television last Sunday night right after Lady Gaga’s drone-assisted halftime show (with Pepsi as the sponsor, even the drones were against Atlanta), you might have been surprised to see a triumphant Tom Brady on the front page of the newspaper. My on-the-field (or on-the-bench) football career ended after freshman year of high school, but the Falcons seemed to get soft in the second half and played to not lose, versus playing to win....

AdvisorShares Active ETF Market Share Update – Week Ending 2/3/2017

Posted by on Feb 7, 2017 in Active ETF Reports, ETF Strategist

Assets in actively managed ETFs had a $144 million uptick to $31.017 billion. No new funds launched last week, which leaves the total at 165. First Trust had the largest net gain with $89 million followed by $39 million for State Street and $23 million for PIMCO. iShares was the only decliner of note. At the strategy level, Alternative Income was the leader with an $80 million increase. Bank Loan added $16 million and US Equity grew by $15 million. None of the categories tracked for this report had meaningful declines. To subscribe to our full monthly report, please register at http://www.advisorshares.com/ (note the full report is only available...

Who Is Sakakibara and Why Does He Say Awful Things About the Yen?

Posted by on Feb 6, 2017 in Dennis Gartman, Market Insight

February 6, 2017 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   We note regarding the Yen that Mr. Eisuke Sakakibara… a gentleman once very commonly referred to as “Mr. Yen” and referred to as such with very good reason for his comments when he was the Vice Deputy of Finance for International Affairs would indeed move the forex market materially and often very...

2/6/17 Macro Update

Posted by on Feb 6, 2017 in Laif Meidell, Macro Update

Please listen to American Wealth Management’s Laif Meidell and Heidi Foster discuss the latest events and trends across the markets in their weekly Macro Update. Mr. Meidell also serves as portfolio manager of the AdvisorShares Meidell Tactical Advantage ETF (NYSE Arca: MATH) and the AdvisorShares Market Adaptive Unconstrained Income ETF (NASDAQ: MAUI).  ...

AdvisorShares Weekly Market Review – Week Ending 2/3/2017

Posted by on Feb 6, 2017 in ETF Strategist, Market Insight

Highlights of the Prior Week A Job Report For Everybody!   Macro The Friday jobs report had something for everyone with a mix of strong and weak data. There were 227,000 new jobs created in January which beat the Bloomberg consensus of 180,000. The headline unemployment rate printed at 4.8% which was a slight uptick from December and the U6 came in at 9.4%. There was also an uptick in the labor force participation rate to 62.9% which can be taken as a positive with people feeling optimistic enough to again look for work in the belief that a job can be had. Wages were the big disappointment, increasing...

Weekly Small Cap Market Review: January 23 – January 27

Posted by on Feb 1, 2017 in Cornerstone Investment Partners, Small Cap Market Review

By Mark Spatt, CFA, Investment Analyst at Cornerstone Investment Partners, sub-advisor of the AdvisorShares Cornerstone Small Cap ETF (NYSE Arca: SCAP)   Last week was quite busy, but I expect that we will rarely get the opportunity to say something otherwise this year. President Trump had a very active first week in office, pulling out of the Trans-Pacific Partnership (“TPP”), calling for $1 trillion of spending on infrastructure projects, pushing for a border wall with Mexico, and suggesting he could cut corporate regulations by at least 75%. Along with actions taken just before and after the inauguration to repeal key elements of the Affordable Care Act, the President has...

Big Changes In Endowmentville

Posted by on Feb 1, 2017 in ETF Strategist, Investment Perspective

By Roger Nusbaum, AdvisorShares ETF Strategist   Last week a lot of attention was paid to the big changes at the Harvard Management Company, the managers of the $35 billion Harvard Endowment. Half of the staff will be cut over the next couple of months and it will outsource management of more of its assets. The performance has drawn criticism in recent years as the top spot at the firm has been something of a revolving door since Jack Meyer was pushed out. This chart from the WSJ captures the point;     Obviously most of the endowments listed lost money in the year ending June 30th, 2016. To...

AdvisorShares Active ETF Market Share Update – Week Ending 1/27/2017

Posted by on Jan 31, 2017 in Active ETF Reports, ETF Strategist

Assets in actively managed ETFs increased by $211 million to $30.872 billion. There was one new fund from Franklin last week, which brings the total number of funds to 165. First Trust led the asset growth with $120 million followed by $43 million for PowerShares and $33 million at State Street. PIMCO declined by $43 million while iShares contracted by $29 million. At the category level, Short Term Bond grew by $59 million, Bank Loan attracted $51 million and Alternative Income was better by $40 million. The only decliner of note was Global Bond, which lost $51 million. To subscribe to our full monthly report, please register at http://www.advisorshares.com/...

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