Later this morning I am having a sit-down at a Starbucks (the location was my idea) with a couple of folks from WisdomTree.I have a few questions in mind but candidly I am not sure if this will be an on-the-record interview or an off-the-record chat.
If I can work out the logistics I will check the blog for comments...so if you were going to have a face to face what would you ask?
I am inclined to ask what they personally would like to see in the industry, maybe this can make more headway than asking what WisdomTree plans to do. I have some ideas for narrow-based products that I wonder if are even feasible and I would like their take.
As an unrelated unintentional comedy nugget; I think I heard the Stallion say "don't ask me to explain folks." Ok, Bob, you got it.
It seems like a lot of people are coming on the network with very bullish short term outlooks for the Chinese markets. I disclosed selling the last of the Sinopec (SNP) I held for clients over the weekend in the video (sold on Friday, disclosed on Saturday). The stock closed on Tuesday about where I sold it.
My sale could turn out to be a bad one but after tripling in 17 months I think I need to hear more from the bulls about why the obvious concerns that might arise when a market has gone up so much in such a short time are in fact not going to be problems. It might be a function of the questions these guys are asked but for a six month period or so the risk seems to be greater than the reward.
I expect to be back into China in an across the board fashion but I think it will be a while.
ISK is now way below 62, holy cow.
The Celtics got the fifth pick in the lottery which was the worst possible outcome given their record. Yikes.
5 comments:
I've held Sinopec since last summer and am considering selling. The valuation is pretty rich and you just get that feeling you're gonna wake up and 10 points will be shaved off.
Roger, regarding your meeting with Wisdom Tree, I would like to ask them for a 'recommended' portfolio of ETFs for a youngish retiree. They seem to focus on dividends and total return and I'd like to hear what they come up with to contrast with Bogle and Vanguard's recommendations.
PS..you must be going to Phoenix for this since I don't think there's a Starbucks any closer to you than Prescott.....
Please ask Wisdom Tree to discuss the propective dividend policies for their international etfs as to the timing and forecasting of distributions.
Also, are they looking to open international bond (corporate and govt.) etfs, or currency based ones?
Thank you, Roger! I look forward to reading the result of the meeting if it is allowed to be published.
Roger, I would like to here their response to the furor stirred up with Siegel's letter recommending Wisdom's fundamentally based based indexes over the traditionally cap based low cost indexes pioneered by folks like Bogle at Vanguard. I respect all of these folks. What gives? What's your take on the Wisdomtree methodology?
Questions for Wisdom Tree:
Have they considered modifying their indexing "rules"? E.g., DES has recently underperformed relative to IWN and IJS. I believe it is due to its overweighting (50%) in financials.
When will ETFs make real penetration in the 401K business? If/when they do, will they have significantly lower fees than the big 401K profiters, I mean providers (e.g. Fidelity)?
I would like to know more about their upcoming Emerging Markets funds... what, where, when, etc.
Thanks!
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