Leveraged Exchange-Traded Funds - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Leveraged Exchange-Traded Funds write by Peter Miu. This book was released on 2016-01-05. Leveraged Exchange-Traded Funds available in PDF, EPUB and Kindle. Leveraged Exchange-Traded Funds (LETFs) are publicly-traded funds that promise to provide daily returns that are in a multiple (positive or negative) of the returns on an index. To meet that promise, the funds use leverage, which is typically obtained through derivatives such as futures contracts, forward contracts, and total-return swaps. As of the end of 2012, there were over 250 LETFs in North America with total assets of approximately $32.24 billion. While the amount of assets held by these funds is still small, their popularity continues to grow as their trading volume is significantly larger and much more dynamic than traditional, non-leveraged ETFs. This comprehensive guide to LETFs provides high-level practitioners and researchers with a detailed reference tool for navigating the market and making informed investment decisions. Written from a measured analytical perspective, Miu and Charupat use clear and concise explanations of all important aspects of LETFs, focusing on such key elements as structure, pricing, performance, regulations, taxation, and trading strategies. The first two chapters set the stage for the book by identifying exactly what LETFs are and how they are regulated. The following chapters then look to bridge theory with practice to dive deep into the mechanics, portfolio rebalancing techniques, and daily compounding effects that make investing in these funds so lucrative.
Leveraged Exchange-Traded Funds
Leveraged Exchange-Traded Funds - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Leveraged Exchange-Traded Funds write by Tim Leung. This book was released on 2016-02-24. Leveraged Exchange-Traded Funds available in PDF, EPUB and Kindle. This book provides an analysis, under both discrete-time and continuous-time frameworks, on the price dynamics of leveraged exchange-traded funds (LETFs), with emphasis on the roles of leverage ratio, realized volatility, investment horizon, and tracking errors. This study provides new insights on the risks associated with LETFs. It also leads to the discussion of new risk management concepts, such as admissible leverage ratios and admissible risk horizon, as well as the mathematical and empirical analyses of several trading strategies, including static portfolios, pairs trading, and stop-loss strategies involving ETFs and LETFs. The final part of the book addresses the pricing of options written on LETFs. Since different LETFs are designed to track the same reference index, these funds and their associated options share very similar sources of randomness. The authors provide a no-arbitrage pricing approach that consistently value options on LETFs with different leverage ratios with stochastic volatility and jumps in the reference index. Their results are useful for market making of these options, and for identifying price discrepancies across the LETF options markets. As the market of leveraged exchange-traded products become a sizeable connected part of the financial market, it is crucial to better understand its feedback effect and broader market impact. This is important not only for individual and institutional investors, but also for regulators.
Leveraged Exchange-Traded Funds
Leveraged Exchange-Traded Funds - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Leveraged Exchange-Traded Funds write by Narat Charupat. This book was released on 2016. Leveraged Exchange-Traded Funds available in PDF, EPUB and Kindle.
Setting Aside Myths About Leveraged ETFs
Setting Aside Myths About Leveraged ETFs - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Setting Aside Myths About Leveraged ETFs write by Tom Lydon. This book was released on 2010-03-15. Setting Aside Myths About Leveraged ETFs available in PDF, EPUB and Kindle. This is the eBook version of the printed book. This Element is an excerpt from The ETF Trend Following Playbook: Profiting from Trends in Bull or Bear Markets with Exchange Traded Funds (ISBN: 9780137029013) by Tom Lydon. Available in print and digital formats. The real truth about leveraged ETFs—and why commonly held beliefs about them just aren’t true. With popularity comes criticism and nit-picking. Leveraged ETFs are no exception. Some pundits believe these specialized ETFs have increased market volatility in the last hour of trading. But many investors and people in the media are having trouble getting their arms around the truth. The SEC has been looking closely at these funds and have had dialogue and visits with ETF providers who are offering them. Here are the facts....
Getting Investment Leverage in the Markets
Getting Investment Leverage in the Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Getting Investment Leverage in the Markets write by Tom Lydon. This book was released on 2010-03-15. Getting Investment Leverage in the Markets available in PDF, EPUB and Kindle. This is the eBook version of the printed book. This Element is an excerpt from The ETF Trend Following Playbook: Profiting from Trends in Bull or Bear Markets with Exchange Traded Funds (ISBN: 9780137029013) by Tom Lydon. Available in print and digital formats. Why go “short”–and how to use leveraged ETFs to do it more effectively. During the last several bear markets, you might have been well served by reducing your exposure to equities. A number of investors–perhaps even you–decided to “short” the market instead of exiting entirely. By shorting stocks, investors can potentially make money when the stock loses value. Short selling can help you accomplish several goals.
