Shiller's UMM and DMM will close Monday

I took a good long look at these about six months ago. In "theory" they should balance out exactly with only a small 50 bp bite for admin costs. The note structure is set up to move funds from one cash account to the other along with the index movements. It is actually quite and elegant design but we shall see if the balance will remain upon liquidation.
 
Well, that didn't work out so well UMM closed at 21.83 and DMM closed at 24.90 for a combined value of 46.73. That is a $3.27 net loss from the original $50.00 issue price. Looks like that way of eliminating decay on index prices over time got eaten up by costs. Case to the wary on ETF's, watch out, there are several ways to skin a cat, and they will try to sell you them all.
 
Hmm.. thanks for the update on this one Morekaos.. looks like it wasn't all that great. In other news, financials are rallying crazy! Esp. FAS. I have no clue on what triggered this except that BAC got a new CEO.
 
[quote author="Cubic Zirconia"]Hmm.. thanks for the update on this one Morekaos.. looks like it wasn't all that great. In other news, financials are rallying crazy! Esp. FAS. I have no clue on what triggered this except that BAC got a new CEO.
[/quote]
There were also a couple of analyst upgrades for some bank stocks like JPM and BAC. Zions has rallied about 28% since the start of the year and that bank is sucking wind (it's in Nevada, Arizona, Utah, and California).
 
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