No. of Recommendations: 1
Ken Fisher Has A Side Bet On A Risky Corner Of Wall Street
https://www.fa-mag.com/news/ken-fisher-has-a-side-bet-on-a-r...

Now, some analysts fear the ETN market could suffer amid the exodus from Fisher and ask whether the manager should have been putting clients in the notes in the first place. Along with their cost, the products have the potential to lose 100% of their principal. About 5% of Fisher’s $115 billion under management is in ETNs. Yet, even with the leverage from those notes, Fisher’s investment results have been mixed.

“These things are meant to be sold but never bought,” said Larry Swedroe, chief research officer at Buckingham Strategic Wealth in St Louis, Missouri, speaking about the overall ETN market. “You’re not getting compensated for the credit risk of the issuer, and you can be sure they are not taking the risk embedded in these ETNs.”

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